Profile picture for Phil Caulfield

Phil Caulfield

Lender

Loan Officer - NMlS #386911 (29 years experience)

Specialties:
Purchase Loan,
Refinancing,
Home Equity,
Jumbo Loans, FHA, Renovation

Advice

  • (19 Contributions,
  • 0 Best Answers,
  • 3 Helpful)

Contributions are sorted newest to oldest.

PMI Options & Eligiblity

Answer

There are 5% down with no PMI loan programa available in several counties in the San Francisco Bay Area. I recently wrote a blog post about 5% down with no PMI directed toward real estate agents, but you will get an understanding for how it works.

  (0)
ActiveRain RainCamp in San Francisco December 2

ActiveRain is hosting a seminar from 9 to 4 on December 2. This will be a day of incredible training for those real estate professionals who want to sharpen their blogging skills. Here is a [link removed by moderator] to an article about it that includes registration details.I hope to see you there.

  (0)
closing gifts

Response

I just met with a Cutco representative. They engrave your contact info on their products, such as knives, pizza cutters, cake servers, etc. He told me because it is engraved, it is considered an advertisement, not a gift, for tax purposes.These last a lot longer, which makes it more valuable as a marketing tool.

  (0)
closing gifts

Response

I just met with a Cutco representative. They engrave your contact info on their products, such as knives, pizza cutters, cake servers, etc. He told me because it is engraved, it is considered an advertisement, not a gift, for tax purposes. I thing these are great because they will stay for a long time, as opposed to a bottle of wine or restaurant gift certificate.

  (0)
Relocating, purchasing a business and disclosing self employment

Answer

Chesteroo,Lenders have ways of checking who owns a busines (such as checking Dun & Bradstreet), so don't count on sneaking by without them knowing. Unfortunaely most lenders will not use your income with such a short period of ownership.

  (0)
'Crocodile Tears' for the 'Jumbos'!

Response

Why does it seem to you that the average price should be in the 400-450K range? What is the math behind this? In your post you didn't mention the down payment percentage assumed.

  (0)