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A Bacchanalia Benefit for Community Food Share


Look for the “General Donation” Option (Shown Below)

Amber & I are so excited to welcome you into our home for the very first Bacchanalia Benefit for Community Food Share: a friendly yet competitive wine tasting!

How does it work?

Those in attendance, whether an individual or a party of 2, will bring 3 bottles of the exact same wine.

Since this year’s theme is Italian Reds please make sure that your wine is classified as an Italian Red! Upon arrival, two of your bottles will be disguised and put out on the wine tasting table. After about an hour and a half of taste testing, everyone will be asked to rate the tasted wines & shortly after a winner will be announced. That one lucky winner/couple will get to take home the “3rd” unopened bottle that everyone brought! That’s right- ALL OF THEM!

Check in is from 6-7pm.

Wine Tasting will start at 7pm.

So if you’d like to join us, please RSVP via this invitation. To make your suggested $25 per person donation please click here. You will be redirected to our Community Food Share fundraising page. Please note your name & donation value when checking out so that we can match it to our records.

To learn more about how the Bacchanalia works & what Community Food Share is doing to impact our community, check out the video below!!

If you have any questions please reach out to myself or Amber!

Brian – (303) 500-3839

brianm@rate.com

Amber- (305) 905-0222

bambelina@gmail.com

To learn more about how the Bacchanalia works & what Community Food Share is doing to impact our community, check out the video below!

Let’s make a difference in our community! $1 = $5 worth of groceries!

Community Food Share is a food bank fighting hunger in Boulder and Broomfield Counties by providing access to fresh, nutritious food through local partners and onsite and mobile pantries. Currently, Community Food Share is sending over 100 pounds of food out their doors every minute that they are open, and we are proud to support these efforts.

Hunger is a reality for 1 in 8 people in Boulder and Broomfield Counties. We believe no parent should have to choose between rent and food, and that no child should go hungry. Together, we can make a difference for our neighbors — because every meal makes a difference.

Donate today & join us on May 21st to help Community Food Share purchase much-needed food for our community.

Thank you for your support & we’ll see you on May 21st!

Friday Market Update: February 18th 2022 with BRIAN MANNING

Happy Friday! Brian Manning here with the weekly update. Let’s get right to it. Let’s see. Overall, this week, the two big market movers just in general that we pay a lot of attention to where the situation between Russia and Ukraine and also the Federal Reserve. So, Russia has amassed 130,000 troops on the Ukrainian border. And this whole time they’ve just been saying it’s for a training exercise, which is insane. So, if you look what’s happening in the financial markets from, you know, last Friday into this week, markets don’t like war. And when there’s a potential risk of war, you see a safe haven movement of money going from the stock markets to bond markets.

So, Friday of last week was, you know, maybe potentially war was imminent and potentially, you know, not avoidable. And then you move into the weekend and beginning of this week and you had some maybe political discussions between potentially Russia and Ukraine and avoiding war. But, you know, it’s really been kind of a seesaw and a big up and down right now. And because of that, you’re just seeing a lot of movements in the markets. And until this kind of settles itself down and comes to a better resolution, certainly Russia and the Ukraine and specifically Russia is going to be very impactful in the markets that we have here. The second item that’s market moving right now is the Federal Reserve. So, the Federal Reserve has its balance sheet of over $8.2 or $8.4 trillion. That’s mortgage-backed securities and US Treasuries and everyone’s kind of waiting to see what’s going to happen with this. You know, at some point in time, how many are going to start a sell off of the balance sheet? And if they do, certainly that’s going to be impactful on mortgage rates. So, this week we got the Federal Reserve minutes of their last meeting and there was a lot of concerns that they were going to be kind of scary. And the Federal Reserve minutes were not as scary as everyone expected. So, that was really good to see.

Wednesday this week, we’ve got PPI. So, PPI is the Producer Price Index. This measures inflation at the wholesale level. Really a lot of attention was never paid to this report previously. But… you know, the reality is when you have wholesale cost increasing, the companies have to pass this on to the consumers. So, it is inflationary pressure that does get passed on. And on a month-over-month basis, the core rate was up 8/10ths of a percent and still holding at a twelve year high. So, we’re certainly still seeing inflationary pressure. Then we got a CoreLogic rental component. So… for the month of January, rents were up 12%. So, we, kind of, tracked two different places for a rental component. We look at CoreLogic and we’re looking at apartment list. So… for the month of December, you know, CoreLogic says rents are up 12%. The difference with Core Logic, though, is CoreLogic is looking at lease renewals and new leases, whereas apartment list is strictly just looking at brand new leases. So apartment list is saying that rents are up 18% for the year. CoreLogic is lower because renewals are not increasing at the same rate, but still, 12% is an incredibly high number.

Today we get existing home sales. This is for the month of January. Existing home sales were up 6.7%. So, really strong, good report to see. As far as inventory is concerned, inventory from last year was down 16.5%. So, we’re still seeing inventory struggles everywhere certainly in our own local markets here as well. Probably going to remain a struggle throughout the year. Certainly, there’s an imbalance of supply and demand. I wouldn’t say we’re going to see that calm itself down or change anytime soon. I’m available all weekend. If you have any questions, reach out to me any time. If you want to have our strategic buyer consultation, give me a call. If you want to learn about our pre-commitment process how you can close in 18 days, reach out to me and call me, text me, whatever works for you is great. Happy Friday. Have a great day.

REFI ALERT: A hole in one for this Broomfield resident

That’s right, our borrower just scored a hole in one! He refinanced his corner lot nestled inside a golf course community and saved big! It’s crazy how much you can cut back on your monthly payment when you make the decision to refi. And hey, rates are still low. Are you gonna keep taking bogey’s or are you ready to step up your game?

Our team is available to help you get pre-approved 7 days a week almost 24 hours a day – give or take the 5 minutes a day that Brian sleeps for. Ha! All jokes aside, we take pride in having flexible hours and would love to chat with you if you’re interested in starting the refinance process. Reach out and let’s get you pre-approved.

-The Brian Manning Team

303-500-3839

brianm@rate.com

REFI ALERT: Self-Employed Borrower Closes on Deal

When you’re self-employed, the thought of financing a home can be stressful one! Lucky for you, our team makes is easy as possible by providing a Self-Employed Documentation Expert to take some of that pressure off of your shoulders! Our expert, Allan will be assist you throughout the entire documentation process to ensure that we have everything necessary to get you clear to close ASAP!

Today we are celebrating the successful closing on our clients refinance in Westminster! Their beloved home has fostered so many memories in the past few years, an especially this last one as more time was spent at home than ever before. Here’s to making even more memories in the futer — just at a lower rate!!

If you’re self- employed and are feeling the impending stress – stop right there!! Give me a call today and let’s get you pre-approved and chatting with Allan before you know it. Trust us, the process doesn’t have to be stressful! Set yourself up for success with our team of qualified mortgage professionals!

303.500.3839 or brianm@rate.com – I’m looking forward to hearing from you!

Pending New Home Sales: Update 2/26

Pending Home Sales, which measures signed contracts on existing homes, fell 2.8% in January.  Year over year Pending Sales are up 13%, which is amazing in the face of record-low inventory levels, which are down 24% from last year.

Requirements for Refinancing Mortgages

mortgages

The plunging interest rates have prompted many homeowners to refinance mortgages. An online survey by Harris Poll found that 17% of U.S. homeowners with a mortgage on their primary properties had refinanced towards the end of 2020. The survey also showed 31% of homeowners with loans on primary residences were planning to refinance within the next 12 months. Not all homeowners are eligible for refinancing; they need to meet specific criteria to qualify. According to research qualifying borrowers can get refinancing as high as 125% of their home’s value. So what requirements do homeowners need to meet to qualify for refinancing?

What is Refinancing a Home Loan?

It is the process of applying for a new loan from another or existing lender to pay off the original loan. Homeowners refinance loans to take advantage of a low-interest rate as is the case with the current U.S. mortgage market, reduce monthly repayments, or the loan-term. Another reason homeowners refinance is to move from floating rate loans to fixed loans. High floating rates translate into high monthly repayment costs, and moving to fixed-rate loans can reduce the expense significantly.

Qualification Requirements

While the requirements vary by loan type and lender, there are a few similar things:

Have Owned the House For a Long Time

Lenders want to know how long you’ve owned the house. The rule of thumb states your name must be on the property title for a minimum of six months. This rule applies to borrowers who have applied for the traditional mortgage, V.A. (Veterans Affairs), or jumbo loans and want to apply for a cash-out refinance. However, if the borrower wants to refinance an FHA (Federal Housing Administration) loan, they may need to wait longer, sometimes up to a year.

Decent Credit Score

Credit scores have a direct impact on a homeowner’s ability to refinance mortgages. Lenders use the score to determine if you’re eligible for another loan and the interest rate to charge. For conventional loans, a credit score of 620 and above is befitting. If refinancing an FHA loan, you need a minimum credit score of 580.

Your Income Amount

If your income has changed since you applied for the current loan, you’d need to prove that you can repay the new loan. This means analyzing the new monthly payments and determining if your income covers them. Lenders use the debt-to-income ratio to calculate the amount of income available to repay mortgages.

The ratio is expressed as a percentage and calculated by dividing the total monthly debt by your gross income. As such, if your monthly debt comprises student loans, car loans, credit card debt, and any other recurring debt, they’re all added to determine the total monthly debt. Generally, lenders prefer a debt-to-income ratio of 50% or lower; a higher ratio disqualifies you from refinancing.

Enough Home Equity

Home equity is the percentage of the property the borrower owns. It’s also referred to as the loan to value ratio and is an essential metric that lenders use to determine one’s eligibility for refinancing, the new loan terms, and annual percentage rate. The general rule of thumb states the homeowner should own at least 20% of the equity in a home if they want to refinance.

Borrowers who have a loan-to-value ratio less than 20% but have a good credit rating are still eligible, but the lender charges a higher interest rate. Alternatively, you may be required to take out mortgage insurance.

Are There Other Ways of Refinancing a Home Mortgages?

If the selection criterion disqualifies the homeowner from refinancing the loan, they can explore other options like

  • Looking for a cosigner: A cosigner agrees to repay the loan if the borrower defaults. Asking a cosigner to sign the loan with you increases your odds of loan approval
  • Find out about government loan programs: Organizations like the Federal Housing Administration, the U.S. Department of Veteran Affairs, and the U.S. The Department of Agriculture offers refinancing programs

Refinancing your mortgages are an excellent way of reducing your loan term, taking advantage of lower interest rates, among other benefits. With these points, you can quickly determine if you’re an eligible candidate.

Benefits of Getting a Home Loan through an Online Mortgage Company

home loan

They say that buying a home is one of the most stressful times of your life, and getting your home loan is one of the reasons why. Unless you have the cash on hand to buy a home, which almost no one does, then you need a home loan. There are tons of things that can go wrong when you’re getting a loan, you could fill out the paperwork wrong, get a bad mortgage rate, or even be denied. That’s why a lot of people are turning towards online companies that specialize in mortgages, rather than a bank that serves multiple roles, and there are several reasons why. Here are just a few of those reasons:

It’s More Convenient

Most mortgage companies let you apply online, which saves you a ton of time and energy when applying for your loan. There’s no need to go into a bank, only to have their loan originators try to sell you on more than you need. Instead, you can choose what you want and go forward with it.

Furthermore, when you work on a mortgage application online you have more access to tools and research that you wouldn’t otherwise have. Do you need a loan calculator? Do you have a quick question that doesn’t seem worth bothering a mortgage broker, but needs to be answered anyway? By applying for your mortgage online you have access to all this information and more.

You Can Get a Better Mortgage Rate

For most people, whether or not they can afford their home comes back to the mortgage rate that they get. If someone’s rate is too high, usually due to poor credit, then a person usually wouldn’t be able to afford their monthly payment. If you can’t afford the monthly payment, you can’t take out the home loan. This can be devastating to people who thought they had found their dream home, only to be denied at the last moment by the bank. Mortgage companies often offer better rates than banks, however, and when you go online to find a home loan it’s easier to see all the different options available to you. This means that you get the best possible rate and are going to be able to move into your dream home sooner.

The Process is Quicker

When you apply for a loan online, the process tends to be quicker than applying in person, because the process is more streamlined. This is from start to finish as if you go to one in person mortgage lender and they tell you their rates will be more than you can afford, you then have to physically go to a new lender. However, if this happens online you don’t need to even stand up. You just search for a new option. Add in that the actual application process is quicker and it’s easy to see why applying for loans online is increasing in popularity. By being a more streamlined process, it lessens some of the stress that comes with trying to get a home loan.

You Don’t Lose Expert Advice

One of the reasons people still prefer to apply for mortgages in person is that they get to meet with someone in person to ask questions and get help from the process from. However, when you apply for a mortgage online, you don’t lose that expert advice from actual mortgage lenders and consultants. This means that you’ll still get that personal touch and will be able to ask any question you need to, particularly ones that may be difficult to research or don’t have a clear answer online. This relationship won’t be in person, rather it will be over the phone, but the relationship will still exist and that’s what’s most important.

The mortgage process can be complicated and anxiety-inducing. However, without a home loan, you won’t be able to buy a house. It’s vital to get the best loan possible, as 26% of homebuyers say that paying down debt is the biggest reason they struggle to afford their first home. So, it’s worth going online and checking to make sure you’re finding the best option for you.

Friday Market Update for the Week of November 13th

Happy Friday, Brian Manning here with the weekly update. Let’s get right to it.

So, Monday of this week, stocks went crazy because on Sunday, Pfizer came out with some news about a vaccine and stocks just went on a tear and just crushed it on Monday, Tuesday and Wednesday of this week. But kind-of by Thursday, I think stock markets started to realize like, wow, this is not as easy as we thought. Even though you have some great news from Pfizer in regards to a vaccine, you know, we don’t really have good proof of this yet the distribution is going to be difficult so I think, really, it’s all starting to settle in that yes, we all want great news in regards to a vaccine for COVID, but just because Pfizer says they have some good progress here, doesn’t mean that this is going to be released relatively quickly and there’s still some time in front us. So, you saw stocks just take off, they’ve been pretty consistent all week. And it’s just, kind of, irrational to see how they’re reacting but here we are.

 

Thursday this week, we get CPI. CPI is the consumer price index, this is a gauge of inflation. The CPI was relatively flat and looks like a lot of consumers were you know, fairly nervous in the month of October and spent less money and instead of seeing the CPI increase which we did for 4-5 months in a row, it just went flat, so the core rate was stripped of the volatile cost of food and energy and went from 1.7% to 1.6%. So it was good to see a little bit of calming down of inflation there because we talked about this in the past and inflation is just the enemy of interest rates. Also, rents on a year-over-year basis stayed flat on an annual increase of 2.7%. Overall, landlords are just relatively nervous right now, especially coming into the winter. with a spike in COVID cases and they’re just nervous about collecting their rents so you’re not seeing very strong rental increases there.

Also on Thursday, we got unemployment, so unemployment and new unemployment claims for the month of October where… I’m sorry, this is on a weekly basis. Unemployment claims for last week were at 709,000 people and that’s for new people filing for unemployment and then, continuing claims still sit at 6.8 million people so still, some high numbers, it’s good to see them come down a little but they’re still definitely well above where we were in pre-pandemic numbers. Also, don’t forget that we have the pandemic unemployment assistance so once you have run the course of unemployment, you can then re-apply for pandemic unemployment assistance and those numbers increase by 160,000. So, still seeing everything calm down a little bit but these numbers are still at record highs.

Today, a lot of media today about median home price. So median home price for the third quarter on a year-over-year basis was up 12%. I look at the media and they’re just all out there right now saying, oh my Gosh! Home prices are outpacing income 4 times by 4 times and it’s just not the case. Okay, so the median price of a home in America is $313,000. So what that means is that historically, half the homes sell above $313,000 and half the homes sell below a price of $313,000. Well, and that lower price range across America inventory is at an all time low. So you’re not getting as many sales that would normally take place that would nationally split the 50-50 there. So now what we’re seeing is less sales that took place below $313,000 and more sales that took place above the price range of $313,000 and because those numbers are off due to a lack of inventory it skews the numbers and it makes it look like the median home price is up 12% when really it’s not, it’s just a lack of inventory that’s causing less home sales to take place below $313,000 and more to take place above. I would not say it’s very accurate and be careful of how you interpret it in the media because it’s not really that correct.

Overall, we did see mortgage rates worsen a little bit this week when we got this news from Pfizer on Sunday and stocks took off. There was some impact in the bond market we saw mortgage rates worsen a little bit nothing horrible but we did see a little bit of an increase. We’ll have to wait and see what happens next week as far as rates are concerned, it’s so volatile right now that it’s really tough to predict.

I’m around all weekend, if you have any questions, let me know. I’d love to help you in any way I can if you want a re-approval, you want to run some numbers, call me on my cell-phone, text me. Hope you have a happy Friday the 13th and I’ll talk to you soon.

-Brian

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