BradyLoan.com

1505 Circle Ranch Way #54 Oceanside CA 92057 MLS # 160035633

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 Home Depot and shopping, this Oceanside town home is convenient to Camp Pendleton and was built in 2004.

See pictures of this home

Look at the property information

Compare financing options

View the Rancho Rose HOA documents

Here is how to make an offer:

if you are represented by an agent, he/she will prepare an offer for you.  If not, call Brian Brady at 858-777-9751.

If the offer includes financing, the seller requests that you be  cross-approved with Debra Brady of World Wide Credit Corporation.  Here is how to do that:

1- Fill out an online loan application
2- Call Debra at 858-412-7585 to get a list of documents needed to upload to a dropbox.  These documents will include:  last two paystubs, 2015 and 2014 W2 forms, last two months' bank statements, and a copy of your ID.
3- Upload the documents to the Dropbox Debra sets up for you

The seller requests that the escrow company be Ticor Title in Solana Beach and that the title policy be issued by Fidelity national Title- Mark Boeh.

VA Condo Approvals: Attorney Opinion Letter Not Necessarily Needed

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 felt that the regional counsel accepted the attorney opinion letter and approved the submission more quickly.

We no longer think the attorney opinion letter trumps the well-packaged submission package.  We have submitted four complexes in the past 120 days--one had an attorney opinion letter and the other three did not.  The submission with the attorney opinion letter took 29 days for approval.  The three other submissions were approved in 22 days to 40 days.  When we drilled down to figure out why some were approved more quickly than others, we noticed one thing-- when we used our proprietary condominium questionnaire, the packages were sent out for legal review within ten days of submission.  In each of the four files, the legal review was performed as quickly as 4 days (the one with the attorney opinion letter) and as long as 12 days (all other three).

What this means is that an attorney opinion letter can save about 7-10 days on the process (at best).  Our new policy then is to advise clients that an attorney opinion letter will be requested only after the submission package is at 28 days.    We will be requiring that our proprietary condominium questionnaire is completed prior to submission.

Our proprietary condominium questionnaire organizes the financial documents and directly answers the questions which the VA regional home loan center and outside counsel need.  When accompanied with the proper financial and legal documents, the submission package gets to the outside counsel by day 14 of submission.  We think two weeks is sufficient enough time for the outside counsel to review and issue the final complex approval. 

The attorney opinion letter can help us if we find that the submission package is either (a) at the regional home loan center for more than 14 days and (b) not approved by regional counsel by day 28.  We now see it is an "emergency provision" and not a necessity.

This is good news for veterans.  The VA, for all of its bad publicity, really tried to streamline the process for lenders who know how to package VA condominium approvals.  in 2016, this may save our veteran buyers a $1500 fee.

Please call Brian Brady at 858-777-9751 eith any questions.

 

 

 

 

 

Your agent is why your condo isn't selling

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 his website;  he was a tech savvy property seller's dream agent...BUT...

Mike didn't know a darned thing about condos and condo loans.  Thus, Mike was always presenting offers which Jill had to decline because Mike assumed that, because the condo didn't have an FHA or VA approval, only cash or conventional offers would be funded.  Naturally, Jill was shown a lot of "low-ball, all cash" offers from investors and Mike told Jill "I guess the market has shifted".  Jill's $100,000 profit looked more like $50,000 when Mike was finished presenting the offers.  Naturally, Jill declined those offers and the listing eventually expired.

I had Jill speak with my friend Barbara, an agent who worked condo listings all over town.  Barbara spent a good bit of time with me after I funded a loan for one of her VA buyers (way back in 2009).  Since then, Barbara has done one thing...just one thing..which helped her take less listings but sell each and every condo listing she DID take, for full price.

Barbara insisted that the seller order the condo docs before it went into the MLS.

Barbara explained to her sellers that they would eventually have to order those condo docs when they were in escrow.  Unlike Mike, who "shotgunned" his listings approach by saying "don't pay for them before you have a contract",  Barbara explained that the couple of hundred bucks investment (in the condo docs), could add tens of thousands to the sales price, if the property qualified for FHA or VA financing.  Barbara would order those docs immedialtely and send them over to me.  I would take one look at them and say one of three things:

1- Barbara, I can get that complex both FHA and VA-approved
2- Barbara, I can get the complex VA-approved but you'll only be able to accept 20% down conventional, VA, or cash offers.
3- Barbara, that complex will only work for 20% down conventional loans and cash

Armed with that information, Barbara entered this into the marketing remarks on the MLS:

"Property may be eligible for VA or FHA financing.  Approvals pending through World Wide Credit Corp.  Call them at 858-777-9751 for cross approval"

Barbara explained to clients that that representation attracted twice as many buyers to her listings and justified charging a "premium" price--that meant more profit for her clients.  You know how the story ends...

Jill listed with Barbara, we ordered those HOA docs, and Jill sold the property to an FHA buyer...for a price which was much closer to what she wanted than the offers she received when Mike had the property listed.

Wanna be like Barbara?  Call me today at 858-777-9751.  We'll grab a cup of coffee and I'll break it all down for you.

What Donald Trump Can Teach REALTORS

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 had extraordinary kids".  At first, I was shocked but, when I got home, it made complete sense to me that she would say this. 

Choosing the right agent then, can affect the education a client's children receive.

I can think of a bunch of things for which a good real estate agent deserves credit,  Here are a few:

1- Retiring comfortablly because of selling a home at the right time.
2- Lower costs because of choosing a property near public transit.
3- Greater health because of choosing a property near hiking trails, gym, etc

Y'all need to start giving yourselves some credit for the wonderful impact you have on your clients' lives...and you need to tell potential clients about those wonderful things you've done.

Here is a strategy you can use today to get more listings.  If you have a condo buyer, and they want to use a VA or FHA loan, call our team at 858-777-9751.  We do DELRAP FHA condo complex approvals (in less than a week) and have a great track record of getting VA condo complexes approved quickly.  After we close the buyer transaction, I want you to call all of the owners in the complex and..

Take the credit for adding value to their home.

I don't care if you take all of the credit.  In fact, I want you to take the credit.  If you were wise enough to bring us in on the case, you deserve the credit.

You don't have to be as crazy as Donald Trump is but y'all need to brag a bit-- you are worthy of it

These Three Reasons Are Why a Marine Fired His San Diego Real Estate Agent

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 the property and fires the real estate agent.  When asked why the veteran fired the real estate agent, these are the three reasons he gave:

1- The agent didn’t want to show me all of the available properties in my price range.
2- The agent and the lender tried to get me to do a more costly loan
3- The agent doesn’t understand veterans or active-duty military buyers

If you are a real estate agent, that doesn’t have to happen to you.

Many of those military buyers and veterans google “VA condo approval” and find us.  We’ve financed over 1000 VA loans in the past 15 years;--close to 100 of those transactions were for condominiums which did not have a VA approval.  We secure the complex approval from the VA (sometimes in less than 21 days), process the VA loan, and typically close these transactions in less than 45 days.

Who are we and why can we do what few other lenders can with VA condominiums?

Debra Brady is an experienced loan originator with World Wide Credit Corp.  Her husband Brian is a NAR-designated “Military Relocation Professional” and Managing Director with World Wide Credit Corp.  They have a combined 27 years experience in residential lending and have glowing reviews, specifically talking about their expertise in VA home loans, on Yelp.  World Wide Credit Corp is a VA-approved direct lender, in business in the same Kearny Mesa office, since 1991.

If you have a VA buyer today, you might want to call us at 858-777-9751 and ask us a few questions.  Otherwise, you can subscribe to our weekly VA emails here.

How To Get a VA Condo Approval In 21 Days Or Less

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 MANY times.

2-Review the required documents' checklist:

The document checklist is available in Chapter 16 of the VA Lender’s Handbook.  Specifically, the table of required documents is available on page 16A.03.    I suggest that the loan originator AND both real estate agents AND the escrow officer review this table as soon as an agreement of sale is executed.  At first glance, the list appears to be ominous (lots of dead trees).  Upon more careful scrutiny, it is plain to see that only 5-6 documents are required; the other 20 or so are only required IF AVAILABLE.

3- Consider the time saved by using an attorney's opinion letter:

The key component to the VA condominium complex approval is the Attorney’s Opinion Letter.  Essentially, the VA relies on the expertise of an independent attorney to evaluate the condominium documents and offer an opinion as to whether or not those documents comply with the VA regulations.  An attorney opinion letter is NOT a requirement for the submission package but attempting this without one is not recommended.  While it adds another layer of cost to the approval process, the result is a greatly reduced examination time at the VA.

VA condo approvals are quite easy if you know what to do.  Follow these three tips to guarantee a smooth transaction or contact me with any questions you might have.  Call me directly at 858-777-9751 or just click this button to connect with me via phone right now:

 

Welcome Home to San Diego Veterans. Thank You For a Great 2014

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 Corps Staff Sgt, an Air Force veteran, and a Coast Guard Officer. Thank you to all the "sheepdogs" for serving our country and thank you for making us a part of your home buying process.

Happy New Year and welcome home service members.

San Diego Mortgage Rates Report for January 1, 2015

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=  3.97%
15 Year fixed conventional average=   3.07%
30 year fixed VA/FHA average=               3.82%
30 year fixed VA/FHA jumbo avg.=       4.00%
5/1 adjustable rate conv. average=         3.13% -

How can this benefit you?  If you are shopping for a home in San Diego, having a full pre-approval will permit you to lock-in a rate as soon as you receive verbal acceptance of an offer rather than waiting for a contract.  If you currently own a home in Californis, it might make sense to review your mortgage with us today or Friday.  We can run quick numbers to see if it makes sense to restructure your home loan.  Call us at 858-777-9751.  We usually answer the phone right away (or call you back within an hour or two)

If you want to receive a text report of rates, every 10-20 days or so, text the word RATE to 313131 or subscribe to the mortgage rates report via text by adding your cell phone here

To any Service members who are interested in using their VA loan option...

"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 to make sure thinks were done WELL ahead of time.   We ended up getting our loan approved and closed within six weeks of the offer acceptance and couldn't be happier with our new place.  

To any Servicemembers who are interested in using their VA loan option, look no further than Brian, he is THE expert who will get you into the place you want.  I would absolutely use Brian and Debra again, and look forward to working with them in the future."

Recent review from YELP.

San Diego Mortgage Rates Report: April 7, 2014

Mortgage rates are near their 2014 high.  The mortgage bond market has been bouncing around since our last report (March 14, 2014) but has been steadily deteriorating since that time.  Only in the last two trading sessions have mortgage bonds recovered from their two week slide.  If the rally can continue into next week, we'll see rates come back to their March 14, 2014 level or better.  For now, mortgage rates are about 1/8-1/4% higher than they were a month ago.

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 April 6, 2014:

30 Year fixed conventional average=  4.44%
15 Year fixed conventional average=   3.42%
30 year fixed VA/FHA average=              4.01%
30 year fixed VA/FHA jumbo avg.=       4.375%
5/1 adjustable rate conv. average=         3.41%

We think it's okay to cautiously float at this time.  When we say cautiously float, we assume you're dealing with a mortgage loan originator who is monitoring the mortgage bond market a few times each day and can communicate with you what economic figures can move the market.  If you don't think your originator can answer those questions, call us or lock your rate today.