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Low Down-Payment & Recast or Refinance

Buy Then Sell: Strategy #6Are you wondering how to buy a new home before selling your current home? The simplest strategy is a Low Down-Payment and a Recast or Refinance after you sell your current home! This video discusses this option in detail as well as the Pro's and Con's of taking this approach.

Leveraging Assets for Down-Payment

Buy Then Sell: Strategy #5Are you wondering how to buy a new home before selling your current home? If you have more than enough liquid assets saved, but you want to use the equity in your current home for your down-payment you should consider Leveraging Your Assets. This video provides a high-level overview of this strategy. I highly recommend you consult with your Financial Advisor and CPA before pursuing this strategy to make sure it's the best option for you all things considered.

HELOC for Down-Payment

Buy Then Sell: Strategy #4Are you wondering how to buy a new home before selling your current home? A Home Equity Line of Credit (HELOC) could be the perfect solution. A HELOC is a revolving line of credit that allows you to borrow against the equity in your home. You can then use this new line of credit for large purchases (such as a down-payment on a new property). This video gives you details as well as the Pro's and Con's of HELOC financing.

The New Bridge Loan

Buy Then Sell: Strategy #3Are you wondering how to buy a new home before selling your current home? The NEW Bridge Loan could be the perfect solution. Like the Traditional Bridge Loan, the new version of Bridge Loans are still short-term loan used to bridge the gap between buying a new home and selling your previous home BUT this is not a second mortgage. It's a new first mortgage on your current home which is paid-off when the home is sold.

Traditional Bridge Loan

Buy Then Sell: Strategy #2Are you wondering how to buy a new home before selling your current home? A Bridge Loan could be the perfect solution. Bridge Loans are a short-term loan used to bridge the gap between buying a new home and selling your previous home. It's a second mortgage on your current home which is paid-off when the home is sold.

Cross Collateral Loans Explained

Buy Then Sell: Strategy #1Are you wondering how to buy a new home before selling your current home? A Cross Collateral Loan could be the perfect solution. Cross Collateral Loans are an easy way to buy your new home and sell your current home later. Depending on how much equity you have in your current home, you could get into your new home with a very low down-payment.After the sale of your current home, the proceeds are applied to your Cross Collateral Loan to reduce the balance.

Rate Update (8/18/2023)

In the past week, the yield on the 10-year has increased by over 27 basis points (bps). Early this week, retail sales came in with another upside surprise, showing that the American consumer continues to spend despite increasing borrowing costs. As various economic reports consistently affirm the strength of the economy, Fed governors persist in advocating for a more hawkish stance, underscoring their commitment to the Fed's 2% mandate. In the FOMC minutes released on Wednesday, participants made a point to emphasize that they will remain data-dependent when considering any additional rate hikes. The minutes stressed what Powell had said at his last press conference: they continue to see a 'significant' upside risk to inflation. It is becoming increasingly difficult to discern how the Fed can pivot from the current policy with inflation still above target and the economy and labor market as resilient as they have been.

How Inflation Affects Mortgage Rates

July Housing Survey

MBS Highway’s July 2023 marked the second month of slowing levels of buyer activity. With average 30-year mortgage rates moving above 7% during the survey period, and inventory levels failing to grow during the spring selling season, this comes as no surprise. That said, demand remains robust, as evidenced by high levels of competition and upward pricing pressure in most regions. Notably, the hard-hit West region has seen a dramatic recovery.

Rate Update (6/16/2023)

June Housing Survey

MBS Highway’s June 2023 Housing Survey saw a slight pullback in buyer activity, albeit from elevated levels. Higher mortgage rates and low inventory levels are to blame. Demand remains very high, as evidenced by both rising prices and intensified competition nationwide. 64% of respondents in June 2023 characterized their local buyer activity as ‘Very Active’, ‘Somewhat Active’, or ‘Steady’. While that’s modestly down from 72% in May, it remains well above the 22% seen in December 2022. Availability and affordability is the issue for buyers, not the desire to move.

What is Impact Lending?

Introducing Impact Lending: Mortgages that mean MORE. Any mortgage lender that commits a significant percentage of its profits to helping the neighborhoods it serves is an Impact Lender.⁣ ⁣ At Movement, we use our profits to help our communities and create a brighter future for everyone. More homes, more growth, more value, more support, more schools, more good, more impact...With every home closing, we open doors to more.

Rate Update (6/2/2023)

Over the holiday weekend, the news that markets were waiting for crossed the headlines: a deal to raise the debt ceiling had been reached. Even though this was a first step, it was a major one, and markets were set to rally into the shortened week. As of Thursday morning, the House had passed the bill, and it now moves to the Senate, where it is expected to pass this weekend. The bond market has enjoyed a healthy rally, erasing all the losses from last week. Now that the debt ceiling talks are seemingly behind us, market participants turn their attention back to deciphering economic data. First is this Friday's Nonfarm Payrolls report. Any sign of a weakening labor market could be the final data point the Fed needs for a rate hike pause. Past the NFP report, the most important event is the June FOMC meeting. While recent Fed Governors' comments have backed the idea of a pause this month, the door is not entirely shut on another 25bps. As always, the Fed says they remain "Data Dependent." While we expect bond market volatility to continue, we don’t predict it will be with the same ferocity as before the deal was struck.

Rate Update (5/26/2023)

With a long weekend ahead, the economic data has been light, however, the Bond Markets have not taken a day off. Mortgage bond prices continue to slip lower as negotiations for the debt ceiling remain ongoing. Both parties are signaling that talks are positive, and a deal will be reached in time, however with each passing moment yields are driven up as investors price in the increased risk of a default. Until this deal is reached it is hard to see how the pressure on Mortgage Bonds ease. With the June 1st deadline signaled by the treasury fast approaching, the pressure is mounting on negotiators to reach a deal. While there is no reason to believe lawmakers do not understand the significance of raising the debt ceiling and a deal will not be reached, stranger things have happened. Expect the downward pressure on Mortgage Bonds to continue until a deal is stuck.

Rate Update (5/12/2023)

This week saw a significant amount of economic data released showing an overall decrease in inflation year over year. Together with relatively steady unemployment data has the Fed's desired “soft landing” very much still on the table. With the market pricing in an almost 100% chance the Fed pauses rate hikes at its next meeting, there seems to be a light at the end of the higher rates tunnel. However, there are still significant issues hanging over markets. The Regional Banking sector is still looking for solid ground after another scare last week. The United States is inching ever closer to default as Washington is debating whether to raise the debt ceiling. While we are optimistic for the road ahead, there are still some major potential speed bumps and because of this, we expect volatility to be around for a little while longer.

Retirement Mastery for Homeowners

To register for our May Zoom meeting, click here: https://us06web.zoom.us/webinar/register/WN_PDZOBt5lT9-OExV9gwJJ4Q

Movement Down-Payment Assistance

If you’re applying for an FHA loan and want help covering your down payment (and closing costs), Movement Boost is for you. What is Movement Boost? Movement Boost helps qualified FHA borrowers cover the required 3.5% down payment and even a portion of closing costs.* You could be eligible for: -Full down payment assistance to cover the entire 3.5% FHA down-payment -Full down payment assistance to cover the entire 3.5% FHA down-payment PLUS 1.5% to put toward closing costs (for a total of 5%) Learn More: https://lo.movement.com/Aaron-Crossley/loan-products/fha-loans/boost

Movement Insurance

Movement Insurance is moving past other insurance agencies for all the right reasons. We are a company built on principles, and we believe our values are what set us apart from the competition 100% of Movement Insurance profits go straight into the Movement Foundation, a nonprofit that exists to bring life, light and hope to underserved communities across the nation. www.movementinsurance.com www.movementfoundation.org

Credit Card Debt at All Time HIGH

If you find yourself with less money in your bank account than normal AND more credit card debt than ever before, you're not alone! Personal savings rates have gradually been reduced by more than 50% in the last 18 months, while credit card debt has increased to an all time high! The average homeowner has 58% equity in their home, which makes home equity a great solution for many people in this situation. **************************** Call me to discuss your scenario and see if we can help you consolidate debt.

Rate Update (5/5/2023)

Rates continued to improve this week, sticking with the overall trend for the past 6 months. ************** Website for checking national average rates: https://www2.optimalblue.com/obmmi/

March Market Review – King County Real Estate

March Market Review - A look back at the mortgage rate & King County real estate activity last month *********************************************** March Summary: *The number of sold homes dropped drastically year-over-year. Single family home sales fell 13% in February 2023 and (estimated) 35% in March. *Year-Over-Year median home prices fell about 5% *Interest rates continued to decline in March after increasing slightly in February. Interest rates will continue to go down as inflation decreases in 2023. ******************************** Inflation continues to be a major contributing factor to the real estate market. Inflation has pushed interest rates higher, and higher rates have caused many potential home sellers to wait until rates are lower before listing their home. This is driving an already low real estate inventory even lower, especially with higher priced homes. Demand for housing continues to be extremely strong and should increase as interest rates decline in the coming months. As demand for homes increases and supply remains low, home prices are expected to continue to rise. In the coming months, we should see lower rates and increasing home prices.

Matthew Gardner – 2023 Forecast & Beyond

Matthew Gardner, Chief Economist with Windermere Real Estate looks back at 2022 and discusses the economic forecast 2023 & beyond. ********************************* About Matthew Gardner: As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on national and regional real estate markets. In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research; and is an Advisory Board Member at the Runstad Department of Real Estate at the University of Washington where he also lectures in real estate economics. Matthew’s economic forecasts are used by the Federal Reserve Bank of Philadelphia, and his housing forecasts are used by Reuters in their U.S. Housing Market forecast and by Zillow in their National Home Price Expectation Survey. Matthew received his undergraduate degree in economics from St. Johns College, Oxford, and he holds graduate degrees in economics and econometrics from the London School of Economics.

Home Buyer’s Guide

The process of buying a home can be overwhelming at times, but you don't need to go through it alone. You may be wondering if now is a good time to buy a home or if interest rates are projected to rise or fall. This free eGuide will answer many of your questions and likely bring up a few things you didn't even know you should consider when buying a home.

Using Temporary Buydown Funds for Your Refinance

Anyone buying a home in 2022 with a seller credit to pay for a temporary buydown may have a fantastic surprise when they refinance next year. The unused funds in your temporary buydown account are applied as a credit when you refinance or pay off your loan! That seller credit (used for your temporary buydown) is essentially paying your closing costs on your refinance too!

Buy Now, Refi Later? The $276 Gamble

For several months, analysts have been telling us that interest rates will drop once inflation starts to come down. Homebuyers in 2022 are planning on buying now (with higher interest rates and often home price reductions) and refinancing later (when rates come back down). I wanted to compare this strategy to some other possibilities for 2023. Specifically I wanted to look at what happens if home prices decrease 5% and rates either go up or down. Industry experts are predicting rates will drop over the next 12 months and history suggests it should happen quickly. Generally home prices increase as rates drop and (as we've seen this year) home prices can go down when interest rates go up. The opposite is always possible, so I wanted to compare the buy now & refi later strategy to the possibility that home prices go down 5% and rates go up further. By purchasing a home now, the monthly savings was about $400/mo. I also wanted to include a "Fantasy Land" best case scenario where home prices go down 5% and interest rates drop a little over 1%. I then compared this best case scenario to the Buy Now, Refi Later strategy, and found that the potential savings would be $276/mo. So the $276 Gamble would be anyone who doesn't buy a home in the hopes that home prices will decrease AND rates will decrease.

Expert Mortgage Rate Projections

Inflation has brought rates higher this year and everyone wants to know when they will come back down. The experts from Freddie Mac, Fannie Mae, Mortgage Bankers Association and National Association or Realtors announced their most recent mortgage rate projections. They project some nice rate drops in the coming 12 months! Here's the average of all four projects for the next 4 quarters: Q4 2022 - 5.4% Q1 2023 - 5.3% Q2 2023 - 5.2% Q3 2023 - 4.8%

A recession does NOT mean lower home prices

If you're wondering what a potential recession could mean for the housing market, these numbers are a great indicator. The only time in the past 45 years when home prices dropped significantly during a recession was 2008, but that recession was caused by an over supply of housing and mortgages (which caused housing prices to drop and that lead to the recession). Unlike 2008, we currently have an estimated shortage of 4 million homes. It's a very different housing market than 2008!

The Home Buying Process

A detailed overview of our Home Buying Process, which helps ensure our clients close on time, under budget with no surprises!

Higher Mortgage Rates are GREAT News For Home Buyers!

I've been having this conversation with a lot of people this week, and I think every home buyer needs to hear this! The recent increase in mortgage rates is GREAT news for savvy home buyers! There is a fantastic opportunity right now for buyers to negotiate with sellers and it has created perhaps the best buying opportunity in the past decade. Your purchase price on your home is permanent, but your rate is temporary. You can get a fantastic price on the home now and refinance your mortgage when rates drop.

THIS is better than offering a lower price!

If you have an opportunity to negotiate with the sellers on your next home purchase, you should consider all your options to make sure you'll have the lowest payment! Using a seller credit to lower your rate can save you a lot more money than a lower purchase price. Here are the numbers so you can see for yourself: https://mcedge.tv/mijvkj

What’s better a lower PRICE or a lower RATE?

When a home has been on the market a few days, the seller may get nervous and buyers will consider offering a lower purchase price. Another strategy is to consider asking for a seller credit, which you can use to buy a lower interest rate. This will consistently save you 3x more every month on your payment. So before you offer a lower price, consider asking for a seller credit instead! Here's the report so you can see the numbers: https://mcedge.tv/mijvkj

$5,000 Closing Guarantee

At Caliber Home Loans, fast, on-time closings are among our highest priorities. We've enhanced our fully underwritten pre-approval program to include a guarantee to the seller of up to $5,000 if we do not close on time!

Using RSU Income for a Mortgage

Many publicly traded technology companies use restricted stock units, or RSU's, as part of their compensation for employees. RSU Income is variable income that can be used with some loan products, but NOT all. Some lenders won't consider this income, some lenders have no problem with it and some will only use it in very specific situations. If a borrower is relying on RSU income to qualify, it's crucial to have a fully underwritten pre-approval.

FICO vs. Consumer Credit Reports

Credit can be confusing, especially when you're seeing different scores than your lender. There are a variety of different scoring models, each one specific to a particular product. If you're not looking at the correct model, you could be in for quite a surprise when your lender checks your credit report.

Why Rate Quotes Are So Different

Every Thursday, Freddie Mac releases a report with the average mortgage rates. This is a weekly survey that's done Monday thru Wednesday each week, where they ask lenders what rate and fees they're charging for a 30-year fixed, 15-year fixed and 5-year ARM. The news picks up on this every Thursday and tells everyone "Rates are UP" or "Rates are DOWN." There are two challenges with this survey. First, it's not real time. So data collected on Monday could be very different than what's available on Thursday in a volatile market. Second, people often ignore the average points (fees) being charged. People will see the average rate online or on the news, but they may not report the average points. It's very important to always know the rate and fees! You can view the Freddie Mac Survey here: https://www.freddiemac.com/pmms

Inflation, Recession and Mortgage Rates

THE industry expert, Barry Habib, talks about inflation and a possible recession, and the effects it will have on mortgage rates and home values.

Recession = Lower Mortgage Rates

Inflation is driving mortgage rates higher seemly every week, but there is a pot of gold at the end of the rainbow! The inevitable economic recession will bring lower mortgage rates. Industry experts are predicting rates even lower than what we saw last year.

Alternative to Contingent Offers

Caliber has partnered with Zoom Casa to offer the Forward Program. This is a great solution for anyone that wants to use the equity in their current home to purchase a new home, but they cannot make a contingent offer. The Forward Program allows you to access the majority of the equity in your home prior to buying your new home, but this is NOT a bridge loan! I've included several documents about the Forward Program. If you have any questions, please don't hesitate to contact me! Aaron Cell: 425-457-2232

Mortgage Hack – Rate Buydowns

A temporary rate buydown is often confused with paying points for a lower rate. A buydown allows a borrower to obtain a lower interest rate, for a period of time, by prepaying some of the interest on the loan. What's really great, is the prepaid interest can be paid by the seller! Here's a simple explanation of how the Temporary Rate Buydown works, and the potential savings.

Highest Mortgage Rates Since 2009

Rates this week hit their highest levels since 2009, but what goes up must come down! Anyone borrowing money this year for a home purchase or refinance should expect a two-step loan process. The first step is getting financing at the current rates, which are temporarily high. The second step will be refinancing to a lower rate when the rates come down in the next 1-2 years.

What is an ARM?

A simple explanation of the Adjustable Rate Mortgage (ARM) product.

ARM vs. Fixed Rate Comparison

When interest rates were 3% and lower on Fixed Rate Mortgages, ARM's were forgotten. Now that rates are on the rise, the Adjustable Rate Mortgage (ARM) can be a great way to keep your payment lower. In this video, I discuss an example of the potential savings.

Debt Consolidation | Saving Money With Higher Mortgage Rates?!

I talk to people all the time that have a similar story: "I have a ton of equity in my home and a really low rate on my mortgage, but I have these credit cards and other debt I need to pay-off. I don't want to refinance and have my mortgage rate go up!" I completely understand!!! However, in some situations, it does make financial sense to consolidate all of your debt even if that means the mortgage rate increases. In this video, I walk through an example where the equity in your home can be used to consolidate debt, save you money and increase your wealth by almost $200,000.

Do we have a Housing Bubble?

There's a lot of talk about a recession and what that could mean to mortgage rates and home prices. Here's an easy explanation of what all of this means and what to expect!

Fed Fund Rate and Inflation

In this video I explain each of the following in every day terms! What is the Fed Fund Rate? How does it impact inflation? How does it impact mortgage rates?

Inflation Impact on Mortgage Rates

What is inflation how does it affect mortgage rates? Here are the answers in every day terms!

Annual Mortgage Review

One of my favorite things we do for our clients is an annual mortgage review! We always want to see if there is anything we can do to save you money or keep you on track for your financial goals.⁣⁣⁣ I would love to hop on a quick phone call to go over your financing and see if there's anything we need to adjust!

5 Step Program For Pre-Approval

Looking to buy a home?! Here are the 5 simple steps to pre-approval! Let us know how we can help.

Why Credit History Is Important

Watch this video to learn about why your credit history is important along with a few tips on how you can establish some credit before purchasing your first home!

3 Tips For Home Searching

There are currently three things that we see working really well for our clients right now searching for a home: 1. Expanding your search geographically. 2. Expanding your search as far as how the house looks inside & out. 3. Get creative with your realtor and off-market opportunities.

What Is a Total Cost Analysis?

One thing we always do for all of our home buyers and homeowners when we first start the process is a total cost analysis. It is a way for us to step back and look at the whole picture so we can build a financing solution for you and your family that best fits your scenario. ⁣⁣ ⁣⁣ Please contact us if you want to uncover the best option for you!

New Job! New House?

Have you recently relocated to the Seattle area and are now wondering if you are able to purchase a home? Although everybody's situation is different, the answer many times is yes! If you're wanting to know if you qualify, please reach out. We'd love to analyze your unique situation and figure out the best option for you and your family!

The Home Loan Experience

My team is dedicated to you and doing our best during the most important financial decision of your life. We believe that consistently doing simple ordinary things leads to an extraordinary experience. We stay connected, even years after you purchase your home, to make sure you and your family get the best financing for your needs.

Using Crypto Currency to Purchase a Home

Many times there are homebuyers who will use money built up from investment accounts to put money down for their new home. But what about the slightly unclear nature of cryptocurrency and using that money for a down-payment? I have some tips and tricks for you on how to properly use your crypto earnings for your future home purchase!

Buying a Home with an Online Investment Account

If you have a Robinhood or any other online investment account, there are some really important factors that go into using that money when you want to purchase a home! Yes, this money can be leveraged when applying for a mortgage, and putting an offer into a home. However, there are specific guidelines one must take into account if you plan on using these funds.

Having Lender Issues?

Having issues with getting pre-approved? It sounds like you need a creative solution from a real expert! In this video, I address how we solve unique problems for people with unique circumstances. The key factor is every individual lender has their own rules and guidelines they have to abide by, along with the standard lending rules and guidelines. If you have been struggling, connect with my team today. We would love to help!

Refinancing Your Student Loans

New Portfolio Loan Products

Having Someone Else Pay Your Mortgage

Pre-Approval for WA Home Purchase

Hello, Here are the details of our offer on your listing. This file has been completely underwritten and we are committed to closing within 30 days of mutual acceptance. Pre-Approval Letter for a $310,000 Purchase Price Loan Type: FHA Loan Down-Payment: 3.5% Credit: Excellent Income: W2 Assets: Gift Funds and Savings Please don't hesitate to contact me with any questions. Thank You!

Pre-Approval for Kirkland Purchase

Hello, Here are the details of our offer on your listing. This file has been completely underwritten and we are committed to closing within 30 days of mutual acceptance. Pre-Approval Letter for a $2,788,000 Purchase Price Loan Type: Jumbo Loan Down-Payment: $788,000 Credit: Excellent Income: W2 Assets: Seasoned and Sourced Please don't hesitate to contact me with any questions. Thank You!

Pre-Approval for Woodinville Purchase

Hello, Here are the details of our offer on your listing. This file has been completely underwritten and we are committed to closing within 30 days of mutual acceptance. Pre-Approval Letter for a $2,775,000 Purchase Price Loan Type: Jumbo Loan Down-Payment: 20% Credit: Excellent Income: W2 Assets: Seasoned and Sourced Please don't hesitate to contact me with any questions. Thank You!

Pre-Approval for Scottsdale Home

Hello, Here are the details of our offer on your listing. This file has been completely underwritten and we are committed to closing within 20 days of mutual acceptance. Pre-Approval Letter for a $850,000 Purchase Price Loan Type: Conventional Loan Down-Payment: $300,000 Credit: Excellent Income: W2 Assets: Seasoned and Sourced Please don't hesitate to contact me with any questions. Thank You!

Pre-Approval for Seattle Home Purchase

Hello, Here are the details of our offer on your listing. This file has been completely underwritten and we are committed to closing within 20 days of mutual acceptance. Pre-Approval Letter for a $930,000 Purchase Price Loan Type: Conventional Loan Down-Payment: 10% Credit: Excellent Income: W2 Assets: Seasoned and Sourced Please don't hesitate to contact me with any questions. Thank You! Aaron

Pre-Approval for San Diego Condo

Hello, Here are the details of our offer on your listing. This file has been completely underwritten and we are committed to closing within 14 days of mutual acceptance. Pre-Approval Letter for a $1,195,000 Purchase Price Loan Type: Conventional Loan Down-Payment: $315,250 Credit: Excellent Income: Self-Employed Assets: Seasoned and Sourced Please don't hesitate to contact me with any questions. Thank You! Aaron

Cash Buyer Program

Our Cash Buyer Program enables clients to make a cash offer on a property, and use finacing from Caliber Home Loans.

Reviews

"Working with Aaron is always GREAT because he is helpful, knowledgeable, and eager to make my clients happy. Aaron is the BEST!"

karen e

"Aaron and his team do a great job communicating throughout the process and also response quickly to any questions I have."

michelle d

"Aaron was great to work with! As a first time home buyer he made the process smooth and simple. I was impressed with the responsiveness with Aaron and his associates."

curtis b