Please Note: JVM Lending is temporarily unable to accept new refinance applications. We have met our maximum loan volume capacity and are unable to process additional applications without sacrificing the 5-star experience to which our valued clients are accustomed. We sincerely apologize for this inconvenience.

We are still accepting new home purchase applications, and still have capacity in our purchase loan division.


3 Reasons Refi Rates Are Higher Than Purchase Rates

“The average rate posted on for a 30-year fixed refinance mortgage was 3.39% Monday, well above the 3.14% on offer for a purchase mortgage, according to the personal-finance website.” That is a direct quote from this WSJ article about why refi rates are higher than purchase rates. As an aside, I love Bankrate’s “average […]Read More

Rent Credits For Down Payment Funds

This is a quick reminder that renters can use “rent credits” towards their down payment. The entire down payment can be in the form of a rent credit in fact. The amount of the credit is the cumulative difference between the “Market Rent” and the “Actual Rent” paid. For example, if the market rent for […]Read More

Habib’s Optimistic Housing Market Predictions; What About Agents Who Are Unable to Leave Home?

Everyone is asking and wondering what will happen to the housing market as a result of the COVID-19 crisis. And fortunately one of the most accurate prognosticators weighed in on the topic in this recent Housing News Podcast. The prognosticator is Barry Habib, CEO of MBS Highway. I quote him often b/c he is apolitical […]Read More

5 Reasons Why There Is Demand For Housing Right Now

5 Reasons Why There Is Demand For Housing Right Now There are numerous signs that the purchase market is coming back to life and that there is an increasing demand for housing. Anecdotally, the number of pre-approval requests in our office are up over 50% from our March and April averages. The number of ratified […]Read More

Why People Remain Bullish On The Housing Market; Foreign Buyers

There are numerous signs that the purchase market is coming back to life. Anecdotally, the number of pre-approval requests in our office are up over 50% from our March and April averages. The number of ratified contracts rolling in has surged to levels not seen since last spring, with 13 coming in last Monday alone. […]Read More

Qualifying After Returning to Work

Many people are wondering how soon laid off and furloughed borrowers will qualify for mortgage financing once they return to work. EMPLOYMENT GAP UNDER SIX MONTHS If the layoff or furlough lasts less than six months, lenders will be able to fund most loans as soon as borrowers return to work (for conforming, FHA and […]Read More

New Reasons to Buy Now; Conforming Loan Limit Reminders

THE CRAZIEST THING HAPPENED LAST WEEK… A seller in an extremely hot market agreed to $15,000 of credits and concessions after the inspection reports came back. We are still seeing a lot of purchase activity and the above is one of the reasons why – sellers are suddenly much more flexible. In today’s fast-changing market, […]Read More

The New Millennial Housing Market in Texas

Millennial buyers (those born 1981-1997) have quickly entered the housing market and they are rapidly becoming the largest and fastest-growing demographic. A 2020 forecast gave the estimation that 51% of the housing market will be comprised of millennials, outnumbering both Generation X and Baby Boomers combined. This will be especially prevalent in Texas markets […]Read More

Appraisal Waivers; Appraisal Contingency Waivers; & DANGER!

Many lenders are again touting “Appraisal Waivers” as something unique that only they offer. Appraisal or “Property Inspection Waivers” are, however, available to every borrower obtaining a “conforming” loan (that conforms to Fannie Mae and Freddie Mac guidelines). Fannie and Freddie simply use an algorithm that decides when to grant appraisal waivers. If we get […]Read More

10% Down to $1.24 Million; 5% Down to $1.07 Million

“High Balance” Conforming Loan Limits are now $765,600 in “High Cost” areas, which include much of coastal California including the Bay Area. These much higher conforming limits now allow buyers to purchase homes in the $1 million+ range with much smaller down payments – if they couple their first mortgage with a “piggyback” Home-Equity-Line-of-Credit (HELOC) […]Read More

Predictions for 2020 – Higher Rates; Tech Disruptions; Fight for Eyeballs; Collapse of Mortgage Industry; Start of Boom

I have read dozens of predictions of various sorts over the last month, so I thought I’d add a few of my own. HIGHER RATES While many pundits like Barry Habib (owner of MBS Highway) think there will be a recession next year, resulting in sharply lower rates (b/c all of our economic indicators have […]Read More

JVM Has A Down Payment Assistance Program; When Down Payment Assistance Programs Are Overrated

JVM offers the Chenoa Down Payment Assistance Program (DPAP). The “assistance” is a 3.5% (of purchase price) 2nd mortgage that can be coupled with either a 96.5% loan-to-value FHA loan or a 97% loan-to-value conforming loan. Hence, qualified borrowers can purchase a home with no down payment. The 3.5% 2nd mortgage is at a rate […]Read More

Only 21% Think “Now” Is A Good Time to Buy; Demographics Say Otherwise

CONFIDENCE IN BUYING DROPS Only 21% of Americans think now is a good time to buy a home, according to October’s Fannie Mae Housing Survey. This is down from 28% in September, and it shows that low rates do not drive purchase volume as much as many of us might suspect. In response to this, […]Read More

Which Week Is the “Black Friday” For Homebuying?

  This was the title of a Housing Wire article I read last week. I am lifting this directly from the article: “Apparently, the best time to purchase a house is the first week of Fall. This time of year, buyers have less competition, more price reductions and greater inventory, according to Out of […]Read More

Adding Eggs & Why Agents Should Let Sellers Help Sell Their Home

  When General Mills introduced Betty Crocker boxed cake mixes in the 1950s, they included dried eggs. Aspiring cooks just had to add water to the mix in order to get a perfect cake. But, the cakes were so easy and so good that women felt guilty about deceiving people and sales lagged. So, General […]Read More

Our Personal Experience With Big Bank Financing; Not So Good

Heejin and I are buying a property in Texas. B/c JVM is not yet licensed in Texas, we pursued financing with other lenders. B/c we are well qualified, Heejin submitted applications to numerous lenders so we could observe their processes and see what they had to offer. She focused on large banks and credit unions […]Read More

Benefits of Buying Now – Again; Fence-sitters

One of the most effective elements of our Homebuyers Seminars is explaining the benefits of buying now. We are repeating some of our reasons again, as we continue to see a lot of apprehension and b/c rates are rising. Benefits from buying: 1. Inflation Hedge; 2. Building Equity; 3. Feels Good to Own; and 4. […]Read More

Supplemental Tax Bills Often Blind Side Borrowers

Supplemental Property Taxes Homebuyers are often caught off-guard by Supplemental Property Tax Bills. To avoid this, we recently added the below section to our website, and we have made “Supplemental Taxes” a more prominent part of our buyer-education process. This is information every mortgage and real estate professional should know. Supplemental property taxes often create […]Read More

Rates May Fall per Forbes; Should Buyers Wait? No! No Cost Refis

Gary Shilling in a recent Forbes column (Dec. 6 issue) said that he thinks the markets massively over-reacted to Mr. Trump’s election. He points out that the root causes of weak economic growth (that have kept rates low) will remain. He also says that Trump’s proposed tax cuts and stimulus programs will be watered down […]Read More

Share Our Stuff, Please! Educating Buyers w/ Awesome Content

A borrower told us last week: “I asked the same question to three other loan officers before I read the FAQs on your website, and none of them came close to explaining the answer as clearly as your FAQs.” Our new website is chock full of crystal clear information that really seems to help buyers […]Read More

How to Buy Now Before Selling Current Home?

We are repeating a previous blog b/c we are getting so many related questions lately. HOW TO BUY BEFORE YOU SELL (buy a new home before you sell your current home) 1. Bridge Loans. These are temporary loans against a borrower’s current residence that can be used to help finance (provide down payment funds mostly) […]Read More

Do Sellers Care About Buyer’s Intentions? Yes. Great Story

One of our Realtors told us a great story yesterday. His potential buyer ran into a seller during a home-viewing, and the buyer mentioned to the seller that he intended to rent out the property. The listing agent later told our Realtor that his buyer’s bid was the highest and best, but the seller did […]Read More

How to Buy New House Before Selling Old House

We often have borrowers in a hurry to buy a new home before they sell their existing residence. Here are the options for borrowers not wanting to sell their existing home: 1. Bridge Loans. These are temporary loans against a borrower’s current residence that can be used to help finance (provide down payment funds mostly) […]Read More

How JVM Educates Buyers In Need of a Pre-Approval; JVM Does Much More

JVM probably has the most thorough homebuyer pre-approval process in the industry. We follow these steps with every buyer. Step #1: We talk to buyers at length. We get to know them. We discuss income, down payment, credit, desired purchase price, financing options, the purchase process, etc. We also spot and address potential issues. Step […]Read More

Benefits of Buying; Rates Remain Historically Low

We say this often, but once again, please feel free to have us help sell your clients on the benefits of buying. For example, we have a client buying a house with an in-law unit for $737,000. The client is currently paying rent of $2,300 and he had very cold feet about increasing his housing […]Read More

The Best Buy vs Rent Calculator Ever! (From HUD No Less)

“Buy vs Rent Calculators” help renters see the overall benefits of home-buying vs. renting. These calculators take into account appreciation, income tax savings, property tax rates, interest rates, and even transaction costs. The best Buy vs Rent Calculator can be found on HUD’s Website: Go to www.Hud.Gov. Then to Resources. Then to Buyer vs. Renting. […]Read More

Not Hard to Raise Credit Score; From 580 to 650 In 60 Days

We had a first-time buyer come to us in April with sufficient income and assets, but a “middle” credit score of 580 (each of the 3 major credit bureaus assigns a credit score for every borrower and most lenders correlate to the “middle” of the 3 credit scores). Because of this low score, this borrower […]Read More