Mortgages in San Jose - AVRUS | Avrus Financial & Mortgage Services, Inc. ℠

September 23, 2016

Meet Me in Menlo Park

Well, let’s just say that it’s not impossible to meet someone here, as Menlo Park, California, is ranked among CNN’s Best Places for the Rich and Single. It’s located in the northern section of Silicon Valley, but Menlo Park doesn’t just appeal to the aforementioned singles; it’s equally appealing to families and retirees. This city is where you’ll find Facebook’s global headquarters, but more important (if you’re considering relocating here) is the fact that Menlo Park residents are enthusiastic about environmental protection and community improvement efforts. It has an excellent school system, a lot of hip places to eat and shop, and a climate that’s hard to beat.

All of which comes at a price: the median home price, in fact, which is right at the million-dollar mark, with about 95.4% of homes costing more than $500,000 while three percent cost less than $200,000. This puts you definitely in the jumbo mortgage category.

A lot of people have concerns about jumbo mortgages, fearing that the higher interest rates and stiffer qualification requirements might negatively impact their house-hunting. In fact, that’s not true: over the past year here at Avrus Financial and Mortgage we’ve seen jumbo rates dip below rates on conventional mortgages.

Here’s the thing: jumbo mortgages rates spiked during the recession, going up more than 1.5 percentage points over conventional, conforming loans. But that’s changed now: lenders realize that while jumbo loans may be bigger, the more affluent home buyers attracted by the jumbos have lower default rates and so are more of a sure thing. .

“Jumbo mortgage borrowers have proven to be not only a very good credit risk, but very good business,” said Greg McBride, senior vice president and chief financial analyst for Bankrate. “Lenders have been competing very actively for that business and that has benefited jumbo borrowers from a pricing standpoint.”

And this is a community that is worth considering when you take out your jumbo mortgage. As one resident has written,

Menlo Park is very family-oriented. The schools are terrific. The neighborhoods are all different depending on where you are. There are great online communities for the neighborhoods that foster connections (mom lists, community watch lists, area lists, etc). It seems like everyone has a dog, and you’ll see the sidewalks busy with people walking dogs before or after work. It has great weather and is conveniently located to San Francisco, San Jose, and the Easy Bay via the Dumbarton Bridge. It’s almost exactly 20 miles from SFO and SJC airports. There are a lot of parks and easy access to tons of beautiful walks, hikes and activities.

When you’re ready to find that perfect Menlo Park house, come to Avrus Financial and Mortgage for you jumbo mortgage. We’ve been helping affluent homebuyers just like you find the perfect financing, and we can help you.

Why not ask us how… today?

February 18, 2016

Do You Know The Way to San Jose?

It was a great song… but San Jose, California, is also a really great place to live. Imagine living in a place called “America’s best rose garden”—yes, that’s San Jose. California’s oldest state park is here, too, and if the roses didn’t charm you, the Big Basin Redwoods will be sure to leave you in awe.

If you want upscale California living, this is definitely the place to be. As Luxury portfolio International puts it, “for those looking for an active arts and cultural scene, historic downtown San Jose has tremendous appeal for those who seek upscale luxury real estate in the heart of vibrant urban life.”

Just a few examples of San Jose exclusive homes currently on the market will convince you that this is where your heart truly lies:

“Exquisite Italian-style villa perched on a private hillside with expansive views of the serene Calero Lake and city light views. Limestone floors with decorative marble inlays. Oak hardwood floors. Formal entry into serene courtyard. Elegant living and dining rooms with breathtaking views. East and west wing enclosed patios to enjoy views. Separate media room. Separate guest quarters. Five-car garage.”
“Positioned on prestigious prime half-acre lot, a Tuscan masterpiece awaits you. Villa inspired estate balances rich architecture with a natural palette of chic interiors remodeled in 2007 by award-winning builder Demattei Construction. Notable features include Calcutta Oro Stone countertops, custom cabinetry, Lecornue gas and electric range, Miele dishwashers. Vaulted and beamed ceiling great room with mini bar and French doors to amazing outdoor kitchen with huge patio and fireplace for entertaining.”
“10+ acres with two houses, one artist studio with bathroom, two-car garage with workshop, garden with raised beds, horse arena, chicken coop, and outdoor wood fire pizza oven. Access to Quick Silver Park and trails, with both public/city water and well. Beautiful views of the hills; this is a great property for horses or a vineyard.”

These listings are just a sampling of what’s available in this stunningly beautiful California city and its environs. These homes, and more like them, are listed between two and five million dollars, and at Avrus Financial and Mortgage, we’re eager to help you finance your move to this stunning area with a special jumbo mortgage. Upscale living requires careful financial planning, and we’ve made it our specialty. We’ve helped discerning buyers purchase multi-million-dollar homes, and we can help you, too.

Why not ask us how today?

November 5, 2015

Mortgages in Start-up Country

One way to predict the future of the market for mortgages, and certainly the value of mortgages, is by watching where home sales are increasing and increasing in value. But that can also be predicted by watching where new businesses are having the most success, because that’s where up-and-coming employees will be moving.

The Kauffman Foundation recently generated some data that, among other things, identified the top ten cities in the United States for start-up success. These cities are where the economic boom of the next decade can be expected. An easy map was put together by DesignHill showing where the top five are located. Amazingly enough, three of the top five cities are in Avrus territory, Miami, San Jose and Los Angeles:

Here is the complete list of the top ten start-up cities:

Austin, Texas
Miami, Florida
San Jose, California
Los Angeles, California
Denver, Colorado
San Francisco;
New York, New York
Houston, Texas
San Diego, California
San Antonio, Texas

Note that San Francisco and San Diego are also in the top ten cities for start-up growth, making that five of the top ten served by Avrus.

What does it mean? Well, for starters it means that you can expect ongoing steady economic growth in California’s four biggest cities, as well as in Miami, over the next decade.

Secondly, you can expect to see more jobs created in these cities and in communities nearby (so Long Beach and Santa Monica and Riverside should benefit from the start-up activity in Los Angeles, for example).

Third, you should see the demand for housing to increase, especially upscale housing, because start-ups tend to engage well-educated, upwardly mobile employees.

Fourth, you should see property values continue to climb, as demand for housing increases. That’s supply and demand.

Fifth, Avrus will be busier than ever, helping you secure the very best mortgage possible, with the most flexible terms and the lowest interest rate. More demand for housing, means more mortgages will be required.

Sixth, we can expect the demand for jumbo mortgages to continue to increase. As more and more people move from low cost states and medium cost states to take up positions in California and Miami, many of those people will simply not have huge down payments from sale of their old houses.

Houses in Iowa and Minnesota and Kentucky just don’t have that much stored equity. So the newcomers to San Jose and San Francisco will need a jumbo mortgage to bridge the gap.

No problem. Conventional mortgage or jumbo home loan, we’ll have you covered. And even if you are self-employed, coming to Los Angeles, The Bay Area or Miami to service the start-up community as a consultant or as freelance outsourced talent, we’ll get you the mortgage for the house you want to buy.

Follow the start-up trail to a new home and a new mortgage in the land of opportunity. Avrus will be waiting to help you get into the home of your dreams when you get there.