Franny Yen -The Loan Story

This Independence Day, we honor the American dream of homeownership. At The Loan Story, we take pride in helping families achieve financial freedom with our diverse range of solutions. Whether you're a first-time buyer or looking to refinance, we're dedicated to guiding you every step of the way. Happy 4th of July!

Wishing everyone a safe and joyful Memorial Day celebration! At The Loan Story, we're proud to be part of the vibrant San Jose community and to support our fellow citizens in achieving their homeownership goals. As we gather with family and friends to enjoy the holiday, let's take a moment to reflect on the sacrifices made by our nation's heroes. May this day be a reminder of the freedoms we cherish and the unity that binds us together.

🌟 Happy International Women's Day! 🌟

Today, we celebrate the incredible achievements and contributions of women around the world. At The Loan Story, we are proud to honor the women who inspire us every day - from our dedicated team members to the amazing women entrepreneurs we work with. 💪💼 Let's continue to empower and support each other in achieving our financial goals and dreams.

🎉 Honoring the vision of Dr. Martin Luther King Jr. on this special day! To my fantastic clients and colleagues, may your MLK Day be filled with joy, unity, and the pursuit of dreams. Grateful for the partnership and looking forward to a year of shared success!

🔮 As the year comes to a close, I'm reflecting on the incredible stories we've written together. Wishing you a Merry Christmas and a New Year filled with endless possibilities and prosperity. Here's to more chapters of success and growth! 🌠📜

Accessory Dwelling Unit (ADU)
- In America's biggest cities, a home with an ADU is priced 35% higher on average than a home without one
- Even if zoning is ineligible, ADU could still be eligible with certain conditions

Feel free to contact me with any questions about the ADU unit, such as additional details on the fundamental criteria to be recognized as an ADU according to lenders' guidelines.

Your credit scores can have a significant impact on your mortgage rates. The disparity can be as substantial as 1.5% between a FICO score of 620 and one exceeding 760+, which could translate into paying several hundred dollars extra each month.

While it’s true that many lenders are open to accepting credit rescores, a technique through which borrowers can instantly boost their credit scores by providing proof of positive account changes to the three major bureaus, during the mortgage application process, it’s still advisable to take steps to improve your credit scores at least six to 12 months before you plan to apply for a mortgage.

Here are the steps to improve your credit score:

1. Get a free copy of your credit report annually from each credit reporting agency via annualcreditreport.com.
2. Ensure on-time payments of your bills.
3. Reduce the balances you carry on your credit lines – ideally to 30% of your total credit line or less. You can request a credit line increase to help maintain balances within this range.
4. Avoid opening new accounts, as they may produce hard credit inquiries and lower your scores.
5. Avoid closing older accounts, as they may still contribute positively to your credit history with the bureaus.

Struggling to save for your next dream home? Credit card debt could be the hurdle!

Unlike a fixed mortgage rate, credit card rates compound, quickly eating away at your savings by possibly thousands each year.

With U.S. credit card debt soaring to $1 trillion, it’s time to take action before it spirals even higher. One of the strategies could be debt consolidation or a home equity loan. Your lender can help you find the best solution. If you have questions, please feel free to reach out. I will be happy to provide a no-cost consultation. I’m here to help! 😁

Ready to spice up your financial goals this fall? 🎃📊 Just like pumpkin spice adds flavor to your latte, my mortgage advice can add the right flavor to your homebuying journey. Let's brew up a plan that's as comforting as your favorite fall drink – message me today to get started!

Areas facing affordability challenges in the Sunbelt cities are predominantly located in California. If you are a home buyer, you are not alone. As a professional mortgage consultant, I am here to support you every step of the way. Contact me today.

Hello!

I hope you’re having a great week so far!

I wanted to reach out with a quick message to ask for your support. The California Association of Mortgage Professionals is running an online petition to put an end to the overwhelming and intrusive solicitations known as trigger leads. These are currently legal in our state, allowing credit agencies to sell your personal information to third parties who then inundate you with unsolicited offers.

You can make a significant difference in this fight by taking just 60 seconds to sign the petition. Your signature can help us protect your privacy from these unwanted calls. To learn more and add your name to the petition, please visit this link: https://www.change.org/p/end-unwanted-calls-protect-your-privacy-and-trigger-leads.

Your support would mean a lot to us, and together, we can make a positive change. Thank you for considering this important cause!

Thank you!

It’s that time of year again..to enjoy those crisp fall days, warm apple cider, carving pumpkins, sitting by the fire🎃

Here’s a short list of a few pumpkin patches to check out in Santa Clara County, CA through the end of the month:

(1) Spina Farms Pumpkin Patch
Corner of Laguna Ave & Santa Teresa Blvd
Morgan Hill, CA 95037
https://spinafarmspumpkinpatch.com/

(2) ABC Tree Farms & Pick of the Patch Pumpkins - Benton Street - Santa Clara
3590 Benton Street Santa Clara, CA 95051
https://abctreefarms.net/pumpkin-patches/locations/benton-street-santa-clara/

(3) ABC Tree Farms & Pick of the Patch Pumpkins - Tully Road - San Jose
2200 Eastridge Loop, San Jose, CA 95122
https://abctreefarms.net/pumpkin-patches/locations/tully-road-san-jose/

(4) ABC Tree Farms & Pick of the Patch Pumpkins - Blossom Hill
605 Blossom Hill Rd, San Jose, CA 95123
https://abctreefarms.net/pumpkin-patches/locations/blossom-hill-san-jose/

(5) Moreland Pumpkin Patch
4835 Doyle Rd, San Jose, Ca 95130
https://www.mefhome.org/patch/

“According to Case-Shiller, national home prices rose nearly 6% in 2022. And based on the price growth we’ve seen during the first 7 months of 2023, we’re on pace for another 5% appreciation this year. (Source: The ListReports Blog by Scott Brixen)”

Read more here: https://blog.listreports.com/weekend-talking-points-ffa51943e64a

Did you know that veterans with service-connected disabilities can access property tax breaks and discounts in many states? 💙 For more information, see this month's blog post: https://www.frannyyen.com/post/property-tax-exemptions-by-state-for-disabled-veterans

Follow these fall maintenance tips to keep your home looking and running great 🙂🍂🍁

I'm so grateful for the 5-star review! :)

5 Star rating from I-En Click to see all 94 reviews of Franny Yen

Fed Funds Rate Forecasts

"In terms of their individual forecasts for where the fed funds rate will go:

-Median forecast for end-2023 is 5.6% (this didn’t change). That implies another +25 bps rate hike before year end
-And for end-2024, their median forecast is 5.1% — (was 4.6% previously). That means that they’re now looking for 2 rate cuts in 2024 (vs. 4 previously). The implication is that rate cuts will come later, if at all, in 2024.

If you add this all together, it looks like the Fed is in no hurry to cut rates. Inflation is moving in the right direction, albeit slowly, and there are no obvious signs of trouble in the job market or economy as a whole. Unfortunately for homebuyers (and real estate professionals) a ‘soft landing’ isn’t going to help mortgage rates."



Read the full report by Scott Bixen: https://medium.com/listreports/weekend-talking-points-nothing-and-everything-9bc0e35e1c2e

Are you a homeowner in retirement or approaching that stage in life? Are you looking for ways to supplement your income while continuing to live in the home you love? If so, a reverse mortgage could be an advantageous solution for you! Click the link below to read more.

Unlocking Financial Freedom with Reverse Mortgages Are you a homeowner in retirement or approaching that stage in life? Are you looking for ways to supplement your income while continuing to live in the home you love? If so, a reverse mortgage could be an advantageous solution for you! A reverse mortgage is a unique financial tool that allows homeow...

I’m honored by my valued clients' trust and appreciation! It’s always a pleasure to serve.

I have some fantastic news for homebuyers. I am thrilled to announce that I am now offering home loans in California, Florida, Oregon, and Texas!

Wishing you a memorable and enjoyable Memorial Day filled with joy, laughter, and moments of gratitude.

If you have been working as an independent contractor or have been self-employed for at least two years in the same line of work, you may qualify for a higher purchase price without the need to provide your tax returns. Feel free to reach out to me today for further analysis and information.

If you’re a first-time homebuyer living or working in Santa Clara County, CA, I’d like to tell you about a downpayment assistance program that could be available to you. There are certain qualifications you would need to fulfill and you would need to get prequalified with a participating lender. I can help you with this process.

Email me for more information. frannyyen[at]theloanstory[.]com

Are you a first-time homebuyer looking to purchase a condo? If so, click the link below to view potential pitfalls.

Buyer Beware - Risks of Purchasing a Non-Warrantable Condo As a first-time homebuyer of a condo, you will want to be aware of potential risks to such a transaction. “Non-warrantable” means that a property doesn't meet all of Fannie Mae or Freddie Mac's qualified lending requirements. If something major goes wrong in another part of the condo community, ...

It can be hard to know when to jump into the housing market. Set your goals first and then decide how to meet them. What’s the last great goal you met?

You probably hear a lot about how crucial "curb appeal" is, but many other things are more important. A recent survey found that 76% of buyers said they'd buy a house they deemed ugly on the outside if the inside checked all their boxes. Backyard appeal also ranks higher than curb appeal. If you need extra finances to help upgrade your home, message me. We can explore your options together!

Feeling lucky? It’s said that we make our own luck, but I’ve got a few (Pat)tricks up my sleeve! I’ll help find you a financing solution that will have others saying, “Irish I was so lucky!“. Send me a message today so we can shamrock and roll.

Feeling overwhelmed or not knowing where to start when it comes to the home loan process? If so, I've got the perfect recipe for all your mortgage questions!