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Brian Brady
San Diego
Google calls me "America's #1 Mortgage Broker"
Recent Activity
The next Carmel Valley Monthly Real Estate Pitch Session is…. Monday September 26th from 4:30-6:30PM at Crust Pizzeria in Torrey Hills RESERVE YOUR SEAT NOW Pitch your listings Learn the 92130 inventory Pitch your buyers needs in 92130 Identify the Carmel Valley properties on tour the next day Networking from 4:30-5:15 with Happy Hour Prices. Pizza and salad is complimentary to REALTORs (affiliates pay a fee to attend) RESERVE YOUR SEAT NOW Meeting Starts Promptly at 5:15PM and will last 60 minutes or less When Monday, September 26, 2016 from 4:30 PM to 6:30 PM (PDT) - Add to Calendar Where Crust Pizzeria - 4653 Carmel Mountain Road, San Diego, CA 92130 - View MapRESERVE YOUR SEAT NOW Continue reading
Posted Aug 16, 2016 at SAN DIEGO MORTGAGE AND REAL ESTATE
This beautiful, end town home has upgraded cabinets, granite counters, and tile and hard wood flooring in the well-maintained community of Rancho Rose in Oceanside. Rancho Rose Community has a resort-style pool and hot tub, nestled beloe swaying palm trees, and a guest equestrian facility on the property. This Oceanside town home has granite and tile throughout the kitchen and all three bathrooms. The living room has rich-looking hard wood floors. You can park in your attached 2-car garage and relax or barbecue on your enclosed patio. Ample guest parking. Upstairs, there are three bedrooms: the master suite is attached to the master bathroom and the other two bedrooms share a jack and jill bathroom. You can finance this home, with no down payment with your VA benefit or use a conventional loan with 5% down payment. an FHA complex approval is pending with World Wide Credit Corporation. Near the... Continue reading
Posted Jul 4, 2016 at SAN DIEGO MORTGAGE AND REAL ESTATE
Ted Cruz for President Meetup groups are popping up all over San Diego County. I host one in Carlsbad and encourage people to come and visit their neighbors, to find Ted Cruz supporters. Here is what I discuss: I run through the scenario that Donald Trump is unlikely to win... Continue reading
Posted Apr 13, 2016 at Restore The GOP
Here are my endorsements for the Republican Party of San Diego County Central Committee, for the June 2016 ballot. This is a four-year term and the members make up the governing body of the local party organization. My criteria for endorsement are pretty simple: 1- I eliminate anyone with a... Continue reading
Posted Mar 24, 2016 at Restore The GOP
Questions will be chosen from among these: Civil Liberties: Marijuana: Multiple state statute initiatives have been designed and proposed for the California ballot on November 8, 2016 that seek to decriminalize marijuana for recreational and industrial purposes. Do you support the decriminalization of marijuana or support the states current regulation... Continue reading
Posted Mar 10, 2016 at Restore The GOP
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The Del Mar Seacoast Republican Women Federated will be hosting a debate, between national defense consultant and Marine veteran Jacquie Atkinson and business owner and former Bush Administration official, Denise Gitsham–both ladies are Republican candidates for The US House of Representatives, representing the 52nd Congressional District. The seat is currently... Continue reading
Posted Feb 24, 2016 at Restore The GOP
HR 3700 passed the House of Representatives (437-0) on Monday, February 2, 2016 and was referred to committee. Three key provisions of the bill are: 1- reduce the owner-occupancy requirement, for FHA-insured condominium approvals, to 35% (from the current 50%) 2- streamline the FHA approval process by expanding the number of lenders who can issue a DELRAP-approval 3- lengthen to approved time frame from the current 2 years (no definitive time) It is our opinion that, because it was approved unanimously, it will get out of committee quickly and be sent to the Senate for a vote. The Senate is less "conservative" than the House so a super majority of votes to approve the bill is expected. President Obama has signaled that he will sign this into law. It is our opinion that this bill will become law as soon as April 1, 2016. This means that HUD could be... Continue reading
Posted Feb 5, 2016 at SAN DIEGO MORTGAGE AND REAL ESTATE
Some changes happened at the VA last year and it wasn't for the better. Mired in bad public relations, the regional home loan center revamped their VA condominium approval process and made it more user friendly for lenders who submit good condominium approvals. As such, we have changed our position on attorney opinion letters. For the past eight years, we have submitted an secured VA condominium approval for over 120 California condominium complexes. We encouraged our clients to spend the $1500, to secure an attorney opinion letter (usually costs $2500-$3500) to expedite the VA condominium approval process. The process has two components to it: financial review (performed by VA regional home loan center) and legal review (performed by an outside counsel). We encouraged attorney opinion letters because we felt that the regional VA home loan center rushed the submission package to outside counsel when it was attached. More importantly, we... Continue reading
Posted Jan 29, 2016 at SAN DIEGO MORTGAGE AND REAL ESTATE
Jill was a good client of mine. I funded an FHA loan for her when she bought her condo back in 2010. She was sitting on $100,000 in profit in just five years. Her original real estate agent left the business so she found an agent who advertised on Zillow (Jill is pretty tech savvy). She listed the property with this agent instead of calling me for advice. The condo didn't sell, Jill called me to ask why, and I had to tell her the truth: "Your agent was the reason why your condo didn't sell, Jill" I told Jill of the tale of two real estate agents: Barbara and Mike. Mike listed lots of properties...LOTS of them. He was constantly on listing appointments, advertised those listings heavily online, and had things down to a "system". His signs were all over her heighborhood and each listing was prominently displayed on... Continue reading
Posted Nov 5, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
You just listed a new condominium and you're excited; you priced it right and you expect it to sell and close within 45 days. Financing is a big deal for most condo buyers; in San Diego, condos are often bought by first-time home buyers. You might be making these common mistakes which could cause the offers to come in much lower than you want, have deals fall out of escrow, or delay the closing. 1- Not checking to see which financing is available. See if the complex is approved for FHA financing and be careful to see when the expiration date of the approval is. Check to see if the complex is approved for VA financing. If you can't find the complex on these lists, call me at 858-777-9751. 2- Check with the HOA to determine the owner occupancy percentage. If the percentage of homeowners is under 50%, the buyers... Continue reading
Posted Oct 23, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
We just closed an FHA loan in a San Diego condominium complex which wasn't on the FHA approved list. Once upon a time, a real estate agent might call what we did a "spot approval". Spot approvals were where the underwriter looked at the legal and financial documents, of the home owners association, along with a questionnaire, and determined whether or not the complex was eligible for an FHA loan. There are no such things as spot approvals anymore BUT... DELRAP approvals operate (practically) the same way as a spot approval does. FHA-eligible condominium complexes are approved, for a two year period, one of two ways: HUD Review and Approval Process (HRAP)-- this is where the package of the HOA's legal and financial documents are sent to the HUD Home Ownership center in Santa Ana for review and approval. This can take up to 30 days and we would need... Continue reading
Posted Oct 19, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
Love him or not, Donald Trump knows how to market himself. There is one thing Trump does, I dare say he overdoes, which real estate agents don't do enough of : Donald Trump takes credit He took credit for Apple's new iPhone, suggested that CNN owes charity money because he spikes ratings for them, and he took credit for the downfall of the would be Speaker of the House. Trump has been making bombastic statements like this, all of his adult life BUT... there is a lesson here. Customers need to know how important your job is. Let me give you an example. I was at a graduation party last June, We were talking about how my friend's daughter's won a college scholarship and...his real estate agent chimed in. She said, "This is partly my success too. I convinced him to buy in this school district because I knew he... Continue reading
Posted Oct 9, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
I see this happen a lot in San Diego. A real estate agent finds a new buyer who is serving in the military. That new client wants to buy a condominium with his VA-guaranteed loan benefit but the agent doesn’t know what to do. In the end, the he fires the agent—here is how it happens: The agent starts off by showing the veteran all of the VA-approved condo complexes. The buyer finds a great property in a complex which isn’t approved by the VA. The agent reluctantly shows the property and the buyer loves it. The agent asks his lender about a “spot approval” from the VA. There is no such thing so the lender looks into getting the complex VA approved—he thinks it will take 60-90 days. The lender tries to offer the veteran a more costly FHA loan with 3.5% down payment and PMI. The veteran loses... Continue reading
Posted Sep 2, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
I've probably funded over 400 VA home loans this decade; over 60 of those loans funded for condominium complexes not approved by the Veterans Administration. In Southern California, it's quite common along the coastal communities for buyers to look at condos, townhomes, or PUDs as lower-cost alternatives to single-family homes. Sellers often cringe when they receive an offer using VA home loan financing. The general thought is that the VA condominum complex approval process is time-consuming, onerous, and difficult... Nothing could be further from the truth. All loan types, including FHA and conventional vet the condominium association's organizational documents, finances, and residency mix. In fact, the VA guidelines tend to be the least restrictive of all three loan types. Three tips for real estate agents when presenting an offer, on an unapproved complex, with a VA mortgage: 1- Use a VA lender who has been through the VA approval process... Continue reading
Posted Mar 31, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
The Republican Party of San Diego County (RPSDC) met on January 12, 2015 to elect new officers, for a two-year term, adopt bylaws, and consider a standing endorsement resolution. We adopted a standing rule to recommend against any and all tax increase ballot propositions which require a 55% vote. The... Continue reading
Posted Jan 14, 2015 at Restore The GOP
FHA is lowering it's monthly mortage insurance costs. From Bloomberg.com: The annual fees the Federal Housing Administration charges to guarantee mortgages will be cut by 0.5 percentage point, to 0.85 percent of the loan balance, Julian Castro, secretary of the Department of Housing and Urban Development, said today during a conference call with reporters. Under the new premium structure, FHA estimates that 2 million borrowers will be able to save an average of $900 annually over the next three years if they purchase or refinance homes. This is a substantial cut. FHA monthly mortgage insurance premiums used to be about 1/3 of what they are now: The FHA has been increasing premiums since 2011 to offset losses caused by defaults on mortgages it backed after the housing bubble burst. Housing industry participants say the increases in annual fees, which are now at 1.35 percent of the loan balance, are squeezing... Continue reading
Posted Jan 8, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
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We are grateful for ALL of the people, who have chosen Debra Brady and I, for their mortgage financing in 2014. While the year started off slowly, it really picked up after August 1, 2014--that may be an indication of what 2015 volume will be. We have focused on veteran housing issues since we lived near Luke Air Force Base in Arizona. This year marks our 11th year serving our San Diego veteran community. We moved here in 2003 and, while VA home loans were "out-of-style" for a few years, higher loan limits (and lower housing prices) made them a popular mortgage product again. Popular or not, we still plugged away. Today, San Diego recognizes us as VA home loan experts; we have a special expertise in getting a VA condominium approval. We are proud to close out December, 2014 by funding loans for a Marine Corps veteran, a Marine... Continue reading
Posted Dec 31, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
The mortgage bond market is currently at it's 2014 high price levels. If prices hold, mortgage bonds will close 5% higher than they closed in 2013. What this means to you is that retail mortgage rates should be about a half of percent lower than they were in December 2014. This hasn't necessarily happened though. Mortgage lenders have been wary to pass those bond market gains onto the consumer. There is an "angst" that the party could end at any given time. Conventional mortgage rates haven't improved as much as VA home loan or FHA mortgage rates have. Still, I"m hopeful that next week will see rates more in line with the bond market gaints. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of December 31, 2014: 30 Year fixed conventional average=... Continue reading
Posted Dec 31, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Election Day is November 4, 2014 unless you are a died-in-the-wool, progressive Democrat. I'd encourage progressive Democrats to be certain that you show up to the polls early on November 5th. All kidding aside, here are my recommendations for the upcoming elections I care about. The Republican Party of San... Continue reading
Posted Oct 30, 2014 at Restore The GOP
This was forwarded to me by a source I trust: I was surprised when I received my "sample" voter pamphlet...and found out many critical positions were to be voted on: Ca. Supreme Court and Ca. Appellate Courts. I began my "research" on who was involved. The first thing I found... Continue reading
Posted Oct 30, 2014 at Restore The GOP
Mortgage bonds have steadily strengthened since their August, 2014 levels, causing September mortgage rates in San Diego to drop. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of August 1, 2014: 30 Year fixed conventional average= 4.06% 15 Year fixed conventional average= 3.17% 30 year fixed VA/FHA average= 3.65% 30 year fixed VA/FHA jumbo avg.= 4.0% 5/1 adjustable rate conv. average= 3.52% We told you last month that San Diego home prices up but the price increases are decelerating. While I believe that the long-term trend will track the increases in inflation, prices may soften through 2015. I talked about this on Active Rain today and cited this Redfin article: The first is a slowdown in home price growth. For the first time in five months, price growth was essentially flat in... Continue reading
Posted Aug 29, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
"We could not have had an easier or better experience buying our first condo with the expert assistance from Brian and Debra (Brady) . I started the home buying process while still on deployment, and Brian graciously worked with me across 13 time zones to begin explaining the ins and outs of home buying. The building we had looked at was not VA approved, which is crucial to securing a VA loan. I googled VA home approval, and his was the first name to pop up. Brian is an absolute master at working with the VA, within 5 weeks from putting in an offer on the home, the complex was VA approved, and we closed within six. Brian took my wife and I out for cocktails to explain in person the different loan rates and explain the decision making process for each of them, and Debra worked like a fiend... Continue reading
Posted Aug 25, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Zillow Chief Economist Stan Humphries confirms what I"ve been saying for five years now; Millennials prefer renting to owning a home. Millennials can be defined as the generation born from in the early 1980s to the early 2000s. If you want to be more definitive, let's say 1981 through 2002 (or today's 12-33 year olds.) This is a HUGE demographic, some 80-90 million Americans. They ain't buying homes. Here's why: (1) older Millennials got burned in the real estate boom and bust last decade. They were the "last in" on the Federal Reserve-induced boom and bought at the top of the market. When the balloon popped, they got caught holding the bag. So many of them short sold those properties or lost them in foreclosure because... (2) ...they don't have the income. 1in 7 can't find work and over 4 out of 10 of the best educated millennials are underemployed.... Continue reading
Posted Aug 3, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Mortgage bonds had a rocky ride this week but still finished at the same level they did last Friday. Wednesday spooked the market and it dropped a half-point, suggesting that rates would rise .125%. Unexpected strength today buoyed the market and kept mortgage rates at their July, 2014 levels. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of Ausust 1, 2014: 30 Year fixed conventional average= 4.21% 15 Year fixed conventional average= 3.28% 30 year fixed VA/FHA average= 3.75% 30 year fixed VA/FHA jumbo avg.= 4.125% 5/1 adjustable rate conv. average= 3.53% CAUTION: San Diego home prices up but the price increases are decelerating. That's fancy double-speak for "you're making money but not as quicly as you did last year". I don't know if that's the beginning of the end of the... Continue reading
Posted Aug 1, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
The Republican Party of San Diego County met in April, 2014 to deliberate and vote on a consent list for endorsement in the June, 2104 and November, 2014 election. Our Executive Committee (of which I am a member) voted to forward Assemblyman Tim Donnelly's name for endorsement for Governor of... Continue reading
Posted Apr 21, 2014 at Restore The GOP