Local bank vs Online bank for Bay Area home loans? | Weekly Bay Area Real Estate Tip #15

Local bank vs Online bank for Bay Area home loans? | Weekly Bay Area Real Estate Tip #15

Every Tuesday, I go into detail a question I frequently get asked. Should you use a local bank vs online bank for bay area home loans. While interest rates are always very important, there is one piece you need to be most aware of.


Online banks have gained significant market share over the years claiming to be very customer centric and streamlining the process. They even advertise some of the lowest rates you will see! Check this latest ad out from Quicken Mortgage. They are offering loans for under 2% for a 15 year fixed rate! And they are not the only ones. They are clearly doing very well as their parent company, Rocket Mortgage just IPOed last week making Dan Gilbert the 28th richest person in the world.


But, should you use them for your home loans here in the Bay Area? It depends. Let’s talk about home purchases first. While these online banks are commonly used in a lot of markets across the country, they don’t do many purchases here in the Bay Area for several reasons. Because of how fast properties move, the time it takes to close is very important. They don’t have the same sense of urgency to be competitive with the banks that are local. Many banks even as busy as they are today can close as fast as 15-18 days. 2nd online banks don’t have local contacts that you can chase! The benefit with working with someone local is that reputation matters a lot. It means a lot to me as a top Realtor for future transactions, but also for them to do a good job so that they can get future business with you.. They have much more on the line with their credibility than someone that doesn’t have a focus of a particular area.. Last but not least, it is the ability to actually close the loan! When you are in contract, you would have 3% EMD or Earnest Money Down. This is your commitment amount that you need to fulfill the loan. No slight interest rate improvement is worth this risk! I’ve personally seen many of these loans claim that they have these amazing interest rates, only to fall out of contract weeks later jeopardizing the entire deal and the buyer’s EMD altogether.


Now where is it a good option? Refinances are a great solution because you don’t have the time constraint and the monetary risk of breaking a contract. You are welcome to shop around and try to get those teaser rates. Worse comes to worse, the refinance doesn’t go through so while you lose time and have a headache, at least you aren’t losing tens of thousands of dollars. Just be wary of the fine print. A lot of banks can go very low if you pay points. Think of interest rates and your closing costs as a sliding scale. Anybody can go really low if they are willing to pay a higher closing cost for it. Let’s look at that same teaser rate, while the rate is at under 2%, the closing costs are at close to 1 point which is a lot of money here in the Bay Area.


--

If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!


📧Spencer@spencerhsu.com

📞 (408) 547-4590

⏰ Set up a time to chat: https://calendly.com/spencerhsure

🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/

🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate

📸Follow me on Instagram: https://www.instagram.com/spencerhsure

🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu

🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7

🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW

--

My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!

Spencer Hsu, MBA, Realtor

Spencer@SpencerHsu.com

408-547-4590

EXP Realty DRE #02077253

https://www.homesbyspencerhsu.com/

#BayAreaRealEstate

Jaksot(362)

Bay Area October Market Update 2023 Data Review | San Francisco Remains Tech Capital of the World?

Bay Area October Market Update 2023 Data Review | San Francisco Remains Tech Capital of the World?

Welcome to our latest Bay Area Market Update! In this session, we will provide you with the most up-to-date market data on the housing market in the Bay Area. If you're curious about the current trends and statistics, this video is perfect for you!But that's not all! We'll also be discussing the recent return of more people to the office and how it's impacting the local market. Additionally, we'll delve into the role of Artificial Intelligence in saving San Francisco and its potential impact on the housing market.And of course, we couldn't forget about Google's commitment to building downtown San Jose. We'll explore the latest updates and what it means for the real estate landscape in the area.Join us for this informative session as we dive deep into these topics and provide you with valuable insights. Don't miss out on the Bay Area Market Update - subscribe now and stay informed!

3 Loka 202321min

All the Different Ways to Invest in Real Estate: Invest or Buy in the Bay Area?

All the Different Ways to Invest in Real Estate: Invest or Buy in the Bay Area?

Are you thinking about investing in real estate? Maybe you're wondering what the best way to go about it is? In this video, we'll take a look at all the different ways to invest in real estate, including investing or buying in the Bay Area.No matter what kind of real estate you're interested in, we've got you covered. We'll discuss the different options available to you, and help you choose the best way to invest in real estate. So whether you're interested in buying or investing, this video is for you!-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/

17 Elo 202339min

Bay Area Real Estate Market Update August 2023 | Dream-For-All is back? | Appeal your Property Tax

Bay Area Real Estate Market Update August 2023 | Dream-For-All is back? | Appeal your Property Tax

The Bay Area housing market is always a topic of interest, and for good reason! What does the future hold for the Bay Area housing market? If you're thinking of buying or selling a home in the Bay Area soon, then you'll want to watch this update. We take a look at recent trends in Santa Clara County, San Mateo County, Alameda County, San Francisco County, and more. Plus, we will also take a look at other shiftings and company moves happening throughout the Bay Area.-CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: /spencerhsure  → Facebook: /spencerhsure  → LinkedIn: /spencerhsu  _________________________________#bayarealiving #movingtocalifornia #spencerhsu

2 Elo 202327min

Bay Area Market Update July 2023 | Google MV Expansion | Bay Area Home Value Decline? | SF AI Boom

Bay Area Market Update July 2023 | Google MV Expansion | Bay Area Home Value Decline? | SF AI Boom

Stay up-to-date on the Bay Area housing market with our latest update for July 2023. Watch to get insights on current trends, average home prices, and tips for buying or selling in the area. Don't miss out on crucial information affecting the housing market in the Bay Area. Stay tuned for more market updates in the future.-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME:Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.comwww.homesbyspencerhsu.com💥 Follow me on Social Media 💥→ Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

1 Heinä 202327min

How Much House Can You REALLY Afford in the Bay Area/Silicon Valley?

How Much House Can You REALLY Afford in the Bay Area/Silicon Valley?

Are you wondering how much house you can *truly* afford in the Bay Area or Silicon Valley? In this video we break down the factors that determine your budget and shares insider tips on navigating the competitive real estate market in the region. Don't miss out on this essential guide to finding your dream home without breaking the bank!-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

15 Kesä 202324min

Bay Area Market Update June 2023: Market Data | No Homeowner's Insurance In CA?

Bay Area Market Update June 2023: Market Data | No Homeowner's Insurance In CA?

Welcome to another Bay Area Market Update! In this video, we'll be diving into the latest market data for June 2023 and discussing a hot topic: the lack of homeowner's insurance in California. As a real estate expert in the Bay Area, I'm here to keep you informed on the latest trends and news affecting our local market. -Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

2 Kesä 202323min

Bay Area Market Update April 2023  | Dream For All | Tale of Two Housing Markets | Inflation Slows

Bay Area Market Update April 2023 | Dream For All | Tale of Two Housing Markets | Inflation Slows

Looking to stay up-to-date on the latest economic trends in the Bay Area? In this video, we provide a comprehensive update on the region's housing market. We'll also explore how inflation is impacting the Bay Area's economy and provide an update on the current status of H-1B visas, which are critical for the region's tech industry. Don't miss this informative update on the Bay Area's economic outlook for April 2023.-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

3 Huhti 202320min

Bay Area Home Sellers: Top Regrets & How to Avoid in 2023

Bay Area Home Sellers: Top Regrets & How to Avoid in 2023

Are you a Bay Area homeowner thinking about selling your home in 2023? Learn from the mistakes of others and avoid the top regrets of Bay Area home sellers. In this video, we'll share key insights and practical tips to help you maximize your home sale and avoid common pitfalls. Don't miss out on this valuable advice from experienced sellers. Watch now to ensure a successful home sale in 2023.-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#sellinghomes #BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

14 Maalis 202336min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
psykopodiaa-podcast
mimmit-sijoittaa
rss-rahapodi
kasvun-kipuja
pomojen-suusta
rss-myynti-ei-ole-kirosana
rss-ainin-sekatoimisto
taloudellinen-mielenrauha
ostan-asuntoja-podcast
pari-sanaa-lastensuojelusta
rss-neuvottelija-sami-miettinen
lakicast
rss-lahtijat
rss-startup-ministerio
rss-seuraava-potilas
rss-rahamania
raharesepti
rss-kaupan-tila
rss-moraaliton-podcast