JVM’s Daily Blog

Latest Articles

VA Interest Rates 3/4% Lower Than Jumbo; No VA Loan Limits; Cash Out to 100%

There are about 20 million veterans in the United States. Almost all of them are eligible for VA financing, and, unfortunately, many have no idea of just how advantageous it […]

January 27, 2021 4 min read
A female military soldier returns home to her family wearing her uniform after being away. Her home was purchased using a VA loan - available to all veterans and active service members.

2.7 Million Borrowers Still In Forbearance; Foreclosure Crisis Coming?

The WSJ reported recently that 2.7 million borrowers are still in forbearance. That is about 5.5% of all borrowers, down from about 8.5% in June, but the number of borrowers […]

January 25, 2021 4 min read
Couple walks dog in neighborhood with trees

Why You Should [NOT] Stop Building Your Own Brand

My boss arrived at work in a brand-new Lamborghini. I said, “Wow, that’s an amazing car!” He replied, “If you work hard, put all your hours in, and strive for […]

January 22, 2021 4 min read
Real estate agent holding a FOR SALE sign

14 Day Close Only For Conforming & FHA; VA Loans Not Just For First-Time Buyers; VA Explained

Here are a few quick but very important reminders. 14 DAY CLOSES: CONFORMING & FHA ONLY We can and do close transactions in 14 calendar (not business) days all the […]

January 21, 2021 2 min read
A white house with a terracotta roof sports an American flag hung by a first-time veteran homebuyer.

Low Appraisals – 5 Options When Appraisals Come In Low

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is...

January 20, 2021 3 min read
Low Appraisal Options

Appraisers Can’t Ignore Low Comparable Sales; Agents Should Not Either

APPRAISALS COMING IN UNDER CONTRACT PRICE B/C MARKET’S SO HOT We are seeing appraisals come in under contract price more frequently than normal again b/c the market is so hot […]

January 15, 2021 2 min read
A real estate agent pulls up comparable sales and examines the comps for his upcoming appraisal to send to an appraiser for review.

How To Finance A Fixer-Upper

Many homebuyers are interested in the possibility of purchasing a fixer-upper property. Fixer-uppers typically have competitively low sale prices that require renovations and repairs that can quickly...

January 14, 2021 5 min read
Shot of a young couple using a laptop while busy with renovations at home

Mortgage Rates Climbing As Predicted; “Average Rates” Are Often Very Misleading

RATES UP 1/4% Yesterday, we were quoting rates a full 1/4% higher than what we quoted as recently as last week. Rates have been climbing despite negative economic news – […]

January 13, 2021 2 min read
A cat sits on a kitchen table in a house purchased with a mortgage a high interest rate.

Manufactured Homes – Guidelines, Confusion, Tough Appraisals, Higher Rates

With truly affordable homes getting harder and harder to find, many buyers (and agents) are looking at manufactured homes as lower-cost alternatives. But, manufactured homes are not as easy to...

January 11, 2021 4 min read
White home with red trim on a sunny day

Why 13% Interest Rates In 1980 Were Effectively LOWER Than Today’s; Real Rates vs. Nominal Rates

Mortgage interest rates were just under 19% in the early 1980s, as shown in this table by Freddie Mac, going back to 1971. BUT, “real rates” were sometimes LOWER than […]

January 8, 2021 2 min read
A town in the 1908s with a picturesque view of the mountains has many homes and businesses that were affected by inflation which impact their nominal and real rates for any loans used to purchase property.

Why Rates Went Up After Democrats Took Senate; Affect On Mortgages & Housing

10 YEAR TREASURY EXCEEDS 1% FOR FIRST TIME SINCE MARCH As soon as it became apparent that the two Democratic Senatorial candidates would win in Georgia, rates started to edge […]

January 7, 2021 4 min read
A woman looks at the Washington Monument at night after Democrats won the Georgia Senate and rates went up in response.

Valuing An In-Law Unit Or An ADU (Accessory Dwelling Unit)

I touched on this last year a few times but am getting questions again because so many people have built Accessory Dwelling Units (ADUs) as a result of the COVID […]

January 6, 2021 4 min read
House with a porch covered in snow

Janitor Changes Entire Company; Listening To People In The Trenches

ARROGANT WASHINGTON MUTUAL EXECUTIVE SHUTS ME DOWN Prior to the 2008 meltdown, I sent more loans to Washington Mutual (WaMu) than any other broker. As a result, I had the […]

January 4, 2021 3 min read
Silhouette of a janitor mopping the floor

Teddy Roosevelt’s Greatest Quote; Happy New Year Too

B/c we are all essentially in “sales” one way or another, I am always inspired by exceptionally effective salespeople. However, many of us forget that the most effective salespeople in […]

December 31, 2020 2 min read
Man in suit standing talking to three people seated paying attention
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