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Success Story: Fifth Time’s the Charm

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*For the purpose of this success story, we will be calling our happy client “Jane”.

Mortgages are provided on the basis of how likely it is for a borrower to successfully pay back the loan, so having a stable income is a crucial step in attaining a mortgage. While this qualification is more or less a no brainer for W-2 employees, it can get a little more difficult for self-employed borrowers. One of our happy clients found out how difficult it can be to receive a home loan when she was denied by four different banks. Luckily, she reached out to us and RWM’s dedicated team went the extra mile to see if anything was being overlooked by the other lenders.

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After owning her own business for 5 years, Jane decided that it was time to go shopping for her first home. She soon found exactly what she was looking for: a beautiful 3 bedroom, 2.5 bath town house in the Rancho Santa Fe community. It was time for her to embark on the loan process.

However, when Jane began shopping lenders, many told her that she wouldn’t qualify for a loan even though she made more ...


Surge at the Pumps: California Gas Tax Hike Goes Into Effect on Wednesday

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Photo Courtesy of Jay Toor

All across the state, Californians have been flocking to gas stations and stocking up on gas. Why? On Wednesday, Nov. 1, gas prices are set to increase.

The tax comes from California Senate Bill 1 (which will be referred to as SB1 from here on), which was signed into law by Governor Jerry Brown in April 2017. The excise tax increase will raise unleaded gasoline prices by 12 cents per gallon, with diesel prices seeing a rise of 16 cents.

SB1 predicts that the tax will generate $52 billion dollars in revenue for the state. The state will be using these funds to repair roads and improve statewide public transport. The revenue will be evenly split between improvements and repairs of the state highway system and funding for city and county road systems.

SB1 aims to make 98% of California’s state highway roads passable by 2027. According to the bill, this means repairing or replacing:

  • 17,000 miles of pavement
  • 55,000 culverts and ...

What Is the Most Expensive Listing in San Diego County?

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Photo Courtesy of James Allyn Photography

There are approximately 1.18 million homes of all sorts in San Diego County. These homes range from shacks to mansions and everything in between. Today we’ll be taking a look at the more extravagant end of that spectrum by looking at the most expensive home on the San Diego County market.

Home value is influenced by many different factors, including things like location, investment opportunity of the community, neighborhood status, and, of course, the home itself. With what are considered desirable locations like Solana Beach, Del Mar, Coronado, and Rancho Santa Fe as well as the high demand for housing in the area, the competition for most expensive home on the market is fierce. So what is the most expensive listing in San Diego County?

Sun Ranch Estate

Photo Courtesy of James Allyn

Located at 1711 El Vuelo in Rancho Santa Fe, this 2008 home was built by renowned architect


How to Improve Your Credit Score

Oct 26
2:53
PM
Category | General

How to Improve Your Credit Score

Whether it’s buying a car, finding a place to rent, or purchasing a home, insufficient credit can be a nasty surprise for those who aren’t prepared. Simply put, your credit score and report tells potential lenders how likely it is for you to pay them back. With this in mind, the most direct way to achieve a good credit score is by being a reliable borrower and establishing a history of successfully paying back your debts. However, this is easier said than done.

What Determines a Credit Score

First, let’s discuss credit scores and how they are determined. Creditors use a statistical formula to review the data in your files and compare it to credit performance of consumers with similar profiles. A credit scoring system awards points for each factor. The total of your points determines your credit score and gives lenders a prediction of how you may repay your loan.

Credit scores seek to answer five questions for lenders.

  • Do you pay your bills on time? – Borrowers who don’t pay their bills on time are not considered to be reliable borrowers by lenders. Having an account sent to a collections agency, ...

RWM Client Testimonial — Refinancing Into a Better Budget

Photo courtesy of Pana Vasquez

After more than twenty years in the mortgage industry, RWM Home Loans has been the preferred mortgage banker for a substantial amount of Californians looking to purchase or refinance their homes. Whether it’s because of a competitive rate or because of our personal and dedicated team, we have a knack for satisfying our customers.

See what one of our happy clients had to say after refinancing his home with us:

 

From April of 2014 up to the present, you have been professional and punctual in responding to my inquiries regarding this process, and have exceeded my expectations of a mortgage broker.  Most importantly, however, with your help I am now in a financial position to pay-off my student loans on a "fast-track" basis.  In addition to the financial benefits of having zero credit card balances and a reduction in my mortgage payment, the relief of the mental burden associated with mounting credit card debt and lack of reduction of the principle of my student loans is immeasurable.

I will definitely use your and RWM's services for any ...


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