Chacha, New American Funding

05/20/2024

Think of your loan officer as your own personal home-buying guide.

They not only determine your eligibility and analyze your finances, but they also share ways to improve your chances of approval, resources for improving your credit score and reducing debts, and airtight documentation.

We're here to guide you through each step of the homebuying process.

Ruthchaya (aka Chacha)
Loan Officer, NMLS #1165509
cell: 936.362.8954

-approval

05/10/2024

Loans that many people are skeptical about

Let’s hear from a reverse mortgage expert with over 30 years in business.

Maggie is an area manager in Reverse Mortgage Division at New American Funding where I’m working. Contact us if you, your family or friends want to explore this financing option, whether to buy or refinance a home.

04/29/2024

💰When to refinance:

1. When the interest rate is lower than your current rate.
2. When you need money.
3. When you want to shorten loan term.
4. When you have an adjustable rate mortgage and it's almost due.
5. When you have a FHA loan. Refinance into conventional loan.
6. When you have PMI. Refinance to remove PMI when possible.

💰 What are the good reasons to refinance cash-out when interest rates are high:

1. To pay off credit card debts (with higher interest rates).
2. To consolidate all or some of debts into one much lower lumpsum payment - this makes it more affordable as it's spread over longer term.
3. To open a business.
4. To invest in higher yield alternative investment.
5. To have emergency funds or take care family's needs.
6. To buy a new home to live or to buy an investment property.
7. To remodel/update your home as necessary.

💰What is needed to refinance:

1. Income
2. Credit
3. Assets to show you have reserves (most likely for jumbo loan or non-QM loans)
4. Equity

You cannot wait until you're laid off to refinance to get an emergency fund (until you find the next job opportunity).

You cannot wait until you have been late on your payments for many months and your credit becomes so low that you cannot refinance.

You don't want to wait until you run out of reserves (when you have pulled out all your liquid assets) and call mortgage loan officer to cash out (for Jumbo and non-QM loans).

You may not be able to refinance when your comparable sales prices in your area are declining that you don’t have sufficient equity to refinance OR at least you won't get the best possible deal/term when the home prices are not at its peak.

Just for you to see the picture. I have talked with borrowers earlier this year who need to refinance and there were almost like no options for them because they have waited way too long before contacting me. When it reaches this point, the loan is very very hard to get and it become more expensive for them to refinance (they have to pay higher rates and potentially higher fees to make it work).

Let me know if you have any questions or know someone who may need my help.

04/23/2024

🏡💰 Your tax refund can be the key to unlocking your dream home! Here are 5 ways to make it happen: 1️⃣ Put it toward your down payment 2️⃣ Use it for closing costs 3️⃣ Apply it to taxes and insurance 4️⃣ Tap it to cover moving expenses 5️⃣ Add it to your emergency fund. Don't let this opportunity slipaway! Start building your future today. 🌟✨

03/27/2024

📍 CASH OUT REFINANCE is on the rise! 📍

It accounts for >30% of the loan applications.

For those who have piles of credit card debts with high interest rates of 18-24%, refinancing their homes from 3% to 7% can make a perfect sense!

The cash out from your home equity helps paying off current debts and provide you some emergency funds. You know that down the road when your finances are well-shaped up, you can always refinance for a lower rate especially FED announced they will be cutting rates three times this year. All in all, it's not always about 'interest rates', it's more about the 'affordability' - how this can help you afford your monthly mortgage payment and your other financial obligations BETTER or MUCH BETTER THAN NOW.

In some cases, Home Equity Line of Credit (HELOC) may work better. No one knows until you have a discussion with a loan officer to assess your situation and see what you qualify for.

Do not be like one of my clients who contacted me too late. It's a lot harder or become impossible when you wait until there are late payments in your credit histories.

We have '5 year rate protection pledge' that you do not pay for appraisal and lender's fee when you refinance again with us!

Call me to discuss options at 936.362.8954.

Ruthchaya 'Chacha' Thitinavakun
Licensed Loan Officer, NMLS #1165509

02/10/2024

Secure your Mortgage Needs

Stay ahead of the game and secure your mortgage needs with New American Funding! 🏈💼 Don't fumble your finances, trust us to help you score a touchdown in homeownership.

#กู้เงินซื้อบ้านในอเมริกา #สินเชื่อบ้านในอเมริกา

02/08/2024

Seller-Paid Buydown

🏡 Unlock more homebuying opportunities with our unique seller-paid buydown options. Your buyers can enjoy a payment rate 1%, 2%, or 3% lower for the first 12, 24, or 36 months. Plus, our 5 Year Rate Protection Plan ensures that if interest rates drop within the next five years, we'll refinance qualifying customers into a lower rate with no fees. Don't miss out on savings and make your dream home a reality. Contact us today!

01/26/2024

01/23/2024

At NAF, we have dedicated team to help borrower with the One Time Close Loan - Conventional, VA and FHA options. All loan options are available for primary home and second home only for Conventional loan. We're here to help and make it stress-free for you.

01/19/2024

🔥🔥🔥 California Dream For All is coming soon - March/April.

The most popular Down Payment Assistance Program! The $300 million fund were gone in just 11 days last year! State Budget allocates only $220 million for the program this year!

For those who are missed out by the first round, the Dream For All is structured a bit differently this time.

📍 It will be randomly selected, rather than first come, first serve like last time.

📍 All borrowers have to be First Time Homebuyers and at least one is a First-Generation Homebuyer.

📍 At least one borrower must be a California Resident.

📍 The program provides up to $150,000 or 20% of the purchase price toward down payment and closing costs.

You're encouraged to start the process asap. You will need the 'California Dream For All (DFA) Lender Pre-Approval Letter' to participate when the Pre-Registration Portal is open!

To call/text: 936.362.8954
To email: [email protected]
To apply: https://www.newamericanfunding.com/mortgage-loans/ruthchayat

Please share this with your friends and family so they can get their chance to own a home with this popular 'Down Payment Assistance' loan.

*** Responses on messages received from Facebook Messenger are usually delayed. Please call or email me.

01/19/2024

A perspective on rent and buy.

01/17/2024

NAF Cash, a New American Funding affiliate, can turn your client into a cash buyer and put them in a great position to secure their dream home!

For Loan Officers, NAF Cash is a no-brainer:
🔑 Faster closing times
🔑 Your buyer's cash offer is more likely to be accepted
🔑 Your buyer can buy before selling their current home

Join us and let's make your borrower's homebuying dreams a reality! 🤝

01/12/2024

Attention: Renters

A lot more homebuyers are getting pre-approved in the last two weeks. If 2024 is in your plan to buy a home, start sooner than later. For some buyers, it can take less than a month to get to the home; for many people, it takes many months or even years to find their 'perfect' home.

Don't sit back and wait. Just get the process started.

Contact me for a quick loan qualification or get started with a full pre-approval.

Chacha
936.362.8954 cell

Welcome back to the . Interest rates have been dropping dramatically over the past month and a half due to the influence of the job market, a...

01/02/2024

Did you know you can still own a home if you have a non-traditional income? Whether you are self-employed, a freelancer, or just get paid intermittently, you can use alternative documentation to get into your dream home.

Get started today!

Contact me for more info at 936.362.8954

12/14/2023

Matthew Graham, chief operating officer at Mortgage News Daily, joins 'The Exchange' to discuss the state of mortgage rates, their outlook for next year, and more.

12/14/2023

Great news to share with you! It's time to start the home buying process again for those are on the fence. More homebuyers will be out shopping when rates are much lower.

The Fed Delivers an Early Christmas Gift

"Today, Jerome Powell and FOMC participants gave the green light to the market to open their gifts early when they announced their decision to leave the federal funds rate unchanged for the third month in a row at a target range of 5.25-5.50%. There were positive revisions to key economic indicator projections and dovish comments that surprised markets and could only be concluded as a fed pivot away from a rate hiking bias to a neutral / fed cutting bias going forward. This should set up mortgage rates to head lower as well and provide some much-needed momentum as we kick off the new year."

As of 12/13/2023

Credit: Ryan Schoen, Senior Insight Analyst, New American Funding

12/08/2023

"Over the past month and a half we have seen a dramatic drop in rates. The 5-year Treasury, which was almost as high as 5% in October, is now getting very close to 4%. Thanks to data that continues to show that inflation is cooling down along with a Fed that hasn’t raised rates for three straight meetings; it’s given the market newfound confidence that the peak in interest rates is behind us...."

Credit: Jason Obradovich, Chief Investment Officer at New American

Welcome back to the . Interest rates have been dropping dramatically over the past month and a half due to the influence of the job market, a...

11/29/2023

🏠New Conventional Loan Limits🏠

📌Conforming loan limit to be increased from 726,200 to 766,550.
📌High balance loan limit to be increased from 1,089,300 to 1,149,825.

Call me what it means to you as a home buyer!

cell 936.362.8954

11/21/2023

Ask me how you can start investing in multi unit properties with a 5% down payment. Use projected rents to qualify. Lending in 48 states.

Call/Text: 936.362.8954

Apply Now: www.LenderChaCha.com

11/02/2023

Market Updates by New American Funding Analytics Team - as of 11/1/2023

Credit: Ryan Schoen, Sr Insight Analyst

10/26/2023

We provide a solution to you, not just a loan! We strive to make it faster, more convenient and memorable for you!

10/19/2023

Mortgage Rundown by New American Funding.
Update on 10/19/23

We are back with another episode of the Mortgage Rundown! Today we're talking about what’s happening with Interest Rates. As another month has rolled by, we'...

10/02/2023

What is an escrow account?

A lot of new home owners are confused with this 'ESCROW ACCOUNT' and the 'ESCROW COMPANY' that you needed to deal with AT the time of home purchase.

AFTER home purchase, if your loan file has been set up with an ESCROW ACCOUNT, this is what you should know/understand.

Let me know if you still have questions, I'm here to help!

-Chacha
936.362.8954 cell

You might have heard the term "Escrow" before, but let's dive in to what an Escrow account is, how it works, and why it can benefit you. ____________________...

09/28/2023

Mortgage Rundown by New American Funding.
Update on 9/28/23

Welcome back to another episode of the Mortgage Rundown! Today we'll dive deep into the current state of interest rates, the Fed's recent policy decisions, a...

09/19/2023

Interesting point!

Why do we believe in homeownership? There are many reasons, but today we want to talk about EQUITY! You build equity with each paid mortgage payment. Building equity is beneficial for a few reasons; you can borrow from your equity or save it to use it in the future. Equity helps to build a strong financial future! Unfortunately, paying rent means 0% of that payment is going towards building a future for yourself, which can feel like paying 100% in interest.

09/15/2023

🏠 WHY BUY A HOME NOW? 🏠

From the article:

“Fannie Mae's forecast suggests that 30-year mortgage rates will fall into the 6% to 6.5% range in 2023, while NAR believes rates will stick closer to 6%. The MBA forecast sees rates falling more aggressively, predicting that 30-year mortgage rates will drop to 5% by the end of 2024.

While there's some dispute on exactly how much rates will go down, the general consensus is that mortgage rates should finally drop back below 7% in 2024.”

For full article:

https://www.businessinsider.com/personal-finance/will-mortgage-rates-go-down-in-2024

Credit: Written by Molly Grace; edited by Laura Grace Tarpley Sep 15, 2023

09/06/2023

Read Full Weekly Market Updates in LinkedIn

https://www.linkedin.com/newsletters/naf-insights-7027427819378868225/

Credit: Ryan Schoen, Sr. Insight Analyst

08/31/2023

When you're considering buying a home, look at the 4 C's to help determine what you can afford!

08/18/2023

Local Market Update : San Francisco County, CA - July 2023 VS July 2022

Your Local Market Update