Tag Archives: dan tharp

Buy your next home using Guilds Mortgage Sandwich. It’s Delicious!

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For most of us, a sandwich was the first meal we learned to make for ourselves. As a result, roughly 50% of Americans consume a sandwich every day. I mean, come on, it’s one of the most simple yet versatile and loved foods on the planet, with countless variations to satisfy every palate.

And yet, for all its popularity, the sandwich is not infallible. Sometimes even the most basic ingredients can go awry—not to mention your more labor-intensive gourmet sammies, like Croque-Monsieur or the classic Sloppy Joe. Unfortunately, it takes just one poorly designed sandwich to realize how bad it can go wrong.

Similarly, over 50% of California’s own a home – so the majority of us have experienced the process of getting a mortgage and understand the essential “ingredients” to a successful close, but for many, it’s the opposite feeling of having your favorite go-to sandwich – it’s a complete drag! So how do you maximize taste, keep everything between the bread, manage any sogginess, and create the best balanced and delicious mortgage sandwich?

3 Items You Need for That Perfect Mortgage Sandwich

1 – Digital Lending for Speed and Efficiency

Getting a mortgage can be very document-intensive, with stacks of papers to collect and sign. And many lenders still work this way, asking for all of your supporting documents upfront, then picking what they need to complete your approval. So, years ago, Guild decided to flip the script and go to a more progressive platform to provide state-of-the-art technology to streamline the application process and minimize the number of documents to gather without sacrificing the human touch. You get all this technology with the guidance of an actual human being.

For example, Guild can verify a borrower’s assets without asking for a bank statement using AccountChek®. Instead of asking for a copy of a paystub or W2, we authenticate the borrower’s employment status digitally, using The Work Number®. Thus, speeding up the process significantly by requiring fewer documents, helping to remove much of the hassle and frustration compared to your more traditional mortgage experience.

2 – THE SECRET SAUCE is Customer Service

Guild Mortgage is known for its customer satisfaction, as evidenced by our #1 Ranking in Customer Satisfaction with Primary Mortgage Origination by J.D. Power*. At Guild, we want our customers to truly get that we are partners in their pursuit of a home. For more than 60 years, we’ve grown through referrals by focusing on doing what’s right. As a result, you can expect from Guild:

  • A FOCUS ON YOU – We look for a loan that fits your life. By thoroughly understanding your needs, circumstances, and life goals, we tailor each loan correctly for you.
  • HEART – We do what’s right for our customers, partners, employees, and community.
  • EXPERTISE – We have a proven track record of closing on time. We mind the details, so you don’t have to.
  • COMMITMENT – Wherever you call home, we are there in your community to strengthen and sustain the places people call home.

Guild prides itself on its core value, the promise of home without high-pressure sales tactics. Our goal is to learn more about you, assess your goals, review your financials, then make personalized loan recommendations to give you the necessary tools to make a sound decision either way.  

3 – The Benefits of Keeping your Money Local

I love when I can shop at my local grocery store, send my daughter to summer camp, or go to the movies, knowing my dollars support the people in my neighborhood. The same can be said for every client that comes to me for a mortgage. My team and I are local, familiar with the area, and knowledgeable about the community. We frequent the same businesses like you, and by keeping your dollars within our community, our friends and neighbors can meet their needs and prosper. By focusing on this local availability of wealth, we can create even more opportunities for those around us. 

I know some things are just easier online, as I am not immune to the power of pushing the “Buy Now” link when shopping on Amazon. But, whenever possible, I love the act of handing someone in my neighborhood my money, knowing it’s rewarding the people and businesses that serve our community.

Dan Tharp has been a Mortgage Lender in Sacramento for almost 20 years and would love to help you with your next mortgage.

The above information is for educational purposes only. All information, loan programs, and interest rates are subject to change without notice. All loans are subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction. *Ranked #1 in Customer Satisfaction with Primary Mortgage Origination. For J.D. Power 2021 award information, visit jdpower.com/awards

NEW! Anyone need an ALL CASH OFFER program?

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I am excited to announce that Guild is releasing an all cash program to help our buyers win the deal.

This program allows my credit-approved borrowers to submit an all-cash offer, using proof of funds from Guild, to enter into contract with no financing or appraisal contingencies. Yes, you heard this right. If Guild Mortgage cannot close the buyer’s loan in time to meet the contract requirements, they will guarantee to pay cash for the home and then close the buyer’s loan. AND we can also couple this with our fantastic Lock and Shop program. So lock your rate today, find your dream home, offer in cash, and we finalize the loan.

This is a game changer for us, and you get exclusive access to this program now because I am on the pilot program. Text or call me for more details (916-257-1470 dtharp@guildmortgage.net)

Download Flyer Here!

The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction. For Lock and Shop full terms and conditions, visit www.guildmortgage.com/cap-hbe-terms. Consult the CashPass Program Guidelines for eligibility information and CashPass Program Agreement for full program terms. Subject to change without notice. A non-refundable participation fee, along with a minimum 2% earnest money deposit is required for participation in this program. Other costs may apply.

Are Higher Mortgage Rates a Good Thing?

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Have you dipped your toes into lava lately? I joke about this with my clients who are currently shopping for a new home, especially if they started their search within the last few months – The day before Christmas, the average 30-year fixed mortgage rate was 3.05%. Then, a few weeks ago (Easter), that rate spiked to 5%. And now rates are creeping even higher. So much for taking that family vacation this year! This jump in mortgage rates is forcing many buyers to take a more critical look at their current budget and, in some cases, lower their expectations of what they can genuinely afford or get out of the buying process altogether.

Are higher mortgage rates a good thing? 

Mortgage rates are the highest they’ve been in 13 years, and home affordability is the lowest in 15 years. Is that a good thing? The lead analyst at HousingWire, one of Real Estates leading resources, says yes, it’s a good thing. He says spiking mortgage rates could take some steam out of the red hot market and give inventory a chance to rise. If that happens, it could slow down the rate of home price appreciation and reduce the possibility of an overheated housing market ending in a big crash or bust. He agrees that higher mortgage rates are the best thing because we are in a “savagely unhealthy housing market” and need to get off these shallow inventory levels. Too many people are chasing too few homes, and we desperately need a breather. Redfin said that more sellers are cutting home prices as housing demand softens, partly because of this sharp increase in mortgage rates. And it could be a few months before the actual effect of higher mortgage rates is genuinely noticeable. 

Will Home Values Go Down in 2022?

Should you wait to buy that new home until prices drop? Again, the experts say no, and I agree based on the metrics. One school of thought is that home prices have been artificially inflated the previous few years due to historically low rates and the pandemic. But not one single major real estate firm thinks prices will drop this year. Thankfully, we are starting to see a slowdown compared to last year’s unsustainable run. In 2021, according to the S&P CoreLogic Case-Shiller home price index, home prices skyrocketed to nearly 19%. To put this in perspective, the average appreciation rate in Sacramento over the prior 25 years (not including 2020 and 2021) was just over 8% per year. And this includes the Great Recession 2007 – 2009.

HERE IS A WONDERFUL TOOL provided by The Federal Housing Finance Agency to track appreciation in the US from 1991 to the present.

Rising prices have primarily been due to supply-demand imbalance, and I don’t see this going away anytime soon. Even with rates on the rise, we should see some fall off, but not significantly. According to The National Association of Realtors, the inventory of unsold homes was only 950,000 as of the end of March. According to NerdWallet Home Buyer Report, published this January, nearly 26 million Americans plan to purchase a home in the next 12 months. Given that between 5 and 6 million homes sold in each of the past five years, this doesn’t bold well for buyers. Again, we have too many buyers chasing too few properties.

These higher mortgage rates should take some much-needed steam out of the market, and experts agree that high demand and low inventory are here for the foreseeable future. Hopefully, this clarifies if you are like so many buyers trying to decide if they should buy now or wait. But, of course, whether you purchase a home in 2022 is a very personal decision and depends on your financial situation and the market where you live.

The above information is for educational purposes only. Guild Mortgage Company offers home financing only. All loans are subject to underwriter approval. Terms, conditions, and eligibility requirements apply.

THE BEST TIME TO SELL YOUR HOME IS COMING SOON!

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If you are like many buyers and sellers, when you are in the moment of looking to purchase or thinking of selling your home, you all ask the same questions; Is now the right time to sell your home? Likewise, is this the right time to buy a home? My simple answer is, “the best time depends on your priorities, goals, and situation.”

When I started in this business almost 20 years ago, my ego sometimes got the best of me; I thought I knew it all and could foresee when rates would go up or down and how these changes would affect the housing market. I learned very quickly that I do not possess this superpower. I promptly changed my tune – my job is to guide my clients with the safest and most secure loan choices possible and let the historical data help build some consensus to formulate a plan or strategy to buy or sell.

With that said, it’s interesting to see what market professionals are saying is the best time to sell your home. If you have been on the fence waiting for the right time to sell, you might want to look at the data. According to Realtor. com®’s fourth annual Best Time To Sell report, the ideal time to list your home in Sacramento is the week of April 17. Because it possibly has the perfect balance of housing market conditions that favor home sellers, more so than any other week in the year.

Also, Money.com listed Elk Grove #4 on their list of best places in the country to sell a home in 2022. According to Realtor.com’s chief economist Danielle Hale, “Sellers listing in mid-April can expect to find relatively high buyer interest, coupled with limited competition from other sellers, that equates to fast-selling homes at top dollar,” she said in a recent news release. But, of course, market conditions are variable and not always the same for everyone, and the best time to list your home can change quickly.

If you think it’s time, here are three things you should do first:

#1) Find an experienced lender to secure financing to know your options and what you qualify for if you are thinking of buying a new home after you sell. It’s not just about getting a great interest rate; it’s also about working with a lender who will take the time to be sure you are in the right loan for your situation.

#2) Find a great Realtor to work with to list your home and possibly help you find another. I know some of the best in the business and would love to introduce you to one or two that work in your area.

#3) Layout your Game Plan with your agent and your lender. Once you have settled on your agent and lender, it is best to be open with your budget, dream neighborhood, and comfort level regarding the monthly payment and cash needed to close. This will help your team implement a strategy that will put you in the best position to win.

The above information is for educational purposes only. Guild Mortgage Company offers home financing only. All loans are subject to underwriter approval. Terms, conditions, and eligibility requirements apply.

Buy a Home for Your Parents With This Special Loan Program

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As a long-time Mortgage lender in Sacramento, I have used this relatively unknown loan program to help my clients purchase new homes for their parents while avoiding the more stringent rules and higher rates that come with buying an investment property.

It is not uncommon that I get that call from a concerned client, trying to figure out how to help their parents move closer to them, so they can spend more time with the grandkids, or worse case they need emergency help. The challenge of long-distance caregiving can be a significant drain on the family, and this program may be the answer.

Unfortunately, purchasing a second home or investment property often means you need to put up a much larger down payment than you would for a primary residence, and the interest rate might be higher. The benefit of this Family Opportunity Mortgage is that even if you currently own a primary residence, the new loan is subject to the same guidelines and rates as an owner-occupied home! If your parents don’t have sufficient income or cannot work and wouldn’t qualify for a mortgage on their own, this could be the program you could use to help them.

This unique mortgage offers several benefits over traditional second home mortgages. First, no occupancy requirements – For second homes, typical rules require the borrower to occupy the home for some part of the year. There is no such requirement for this type of mortgage however, the parents must live in the property as their primary residence.

Secondly, there are no distance requirements – Some underwriters may require that a second home not be located near your primary residence. This rule has softened, but the underwriter would ask for a strong case of why this home should be considered a 2nd home under standard underwriting guidelines. But thankfully, with this program, there are no distance requirements! The home could be located right next to yours or in a different town; it’s still priced and underwritten as a primary residence, allowing you to secure a home for your parents at a lower cost.

Not all lenders offer this program, so be sure to ask your lender if this is available or give me a call anytime. We can cover this in more detail to see if you are eligible for this unique program.

The above information is for educational purposes only. All data, loan programs, and interest rates are subject to change without notice. All loans are subject to underwriter approval. Terms, conditions, and eligibility requirements apply. Always consult an accountant or tax advisor for complete eligibility requirements on tax deduction.