Sunset Yoga and Meditation Event With Park Place Financial Group

 

Get Fit Financially With Park Place Financial Group At Park Place Financial Group, we firmly believe that financial wellness goes hand in hand with physical and mental well-being. That's why we organize Get Fit Financially events where we combine financial education with fitness and wellness activities along with fundraising opportunities. These events provide a unique experience to learn about money management, real estate, investment strategies, and healthy living practices, all in one fun and engaging setting. Join us for the Get Fit Financially FREE Sunset Yoga Event Presented By Park Place Financial Group, The Enriquez Group and Yoga Six Little Italy. Wednesday, August 14th 6-8pm Cielo Rooftop Deck 915 West Grape St. San Diego, CA 92101 RESERVE YOUR SPOT Unwind and de-stress with a relaxing 1 hour sunset yoga session, meditation, and breathwork class at the beautiful Cielo Rooftop Deck. This is not your everyday yoga class. Completely unwind utilizing our wireless headphone technology and enjoy the beautiful outdoors while the headphones block out all external distractions. Listen to the music, the yoga instruction, guided meditation, and breathwork in your ears. Disconnect to Reconnect to yourself in this hour of relaxation. Let go of the day's worries as you stretch and breathe in the fresh evening air. This in-person event is the perfect way to rejuvenate your mind, body, and spirit while enjoying a stunning sunset view. No matter your experience level, all are welcome to participate in this calming yoga practice. Bring your mat, water bottle, and positive energy for an evening of self-care and relaxation. Don't miss out on this unique opportunity to Get Fit Financially both physically and mentally! Tickets are FREE but if you would like to donate to the Copley YMCA click on the link below. DONATE Each attendee will get a raffle ticket with a chance to win a prize from the popular athletic line, Vuori. Please reach out to our team to learn more about our Get Fit Financially events or any of our other exciting range of diverse mortgage products. We are confident that our flexible solutions can help you achieve your home ownership or investment dreams. We look forward to working with you and assisting you in finding the perfect financing option. 619-990-7552 (CA) 602-920-8142 (AZ) EMAIL US Click on the links below to find out more about all of our services. Mortgages Real Estate Business Loans IUL-Life Insurance Protection Get Fit Financially Fundraising Events Mind, Body, Soul & Financial Balance If you are considering shopping for your dream home it is extremely important that you are pre-qualified before you begin to search. Click on our secure link to get pre-approved. GET PRE-APPROVED If you have already found your dream home and would like to apply for a loan or would like to refinance your current property. Click on the secure link below. APPLY NOW

Offices in CA, AZ, CO and Coming Soon NV Park Place Financial Group www.parkplacefg.com info@parkplacefg.com 619-990-7552 (CA)  602-920-8142 (AZ) NMLS #: 1267181 DRE #:01410823 CA Insurance:0G43152

Can Anyone Apply For A Reverse Mortgage?

 A reverse mortgage is a financial product that enables homeowners,62 years of age and over, to convert a portion of their home equity into cash while still retaining ownership of their property. Unlike traditional mortgages where homeowners make monthly payments to the lender, in a reverse mortgage, the lender makes payments to the homeowner. The loan is typically repaid when the homeowner sells the property, moves out of the home, or passes away.

Reverse mortgages can be an attractive option for retirees who have substantial home equity but limited income or savings. By accessing the equity in their homes, they can receive a regular stream of income or a lump sum payment to help cover living expenses, healthcare costs, or other financial needs. The amount that can be borrowed through a reverse mortgage is based on factors such as the borrower's age, the value of the home, and current interest rates.

It's important to note that reverse mortgages are loans and must be repaid eventually. Interest accrues on the loan balance over time, which means the total amount owed increases over the life of the loan. When the loan becomes due, either through the sale of the home or the borrower's passing, the proceeds from the sale are used to repay the loan, with any remaining equity going to the borrower or their heirs.

When It Comes To Refinancing You Have Choices

 There are several types of second mortgages that homeowners can consider based on their financial needs and goals. Here are some common types of second mortgages:

1. Home Equity Line of Credit (HELOC): A HELOC is a popular type of second mortgage. It provides homeowners with a revolving line of credit that they can borrow against as needed, up to a predetermined credit limit. The borrower can access funds during the draw period, usually around 5 to 10 years, and make minimum interest-only payments. After the draw period ends, the repayment period begins, during which the borrower must make principal and interest payments. HELOCs often have variable interest rates tied to a benchmark such as the prime rate.

2. Closed-End Second Mortgage: A closed-end second mortgage, also known as a home equity loan, is a lump-sum loan that is disbursed to the borrower upfront. The borrower receives the entire loan amount at once and repays it over a fixed term through regular monthly payments. Closed-end second mortgages typically have fixed interest rates, providing stability in repayment amounts.

3. Cash-Out Refinance: A cash-out refinance involves replacing the existing mortgage with a new one that has a higher loan amount. The homeowner can borrow against the equity they have built in their property and receive the difference in cash at closing. The borrowed funds can be used for various purposes, such as home improvements, debt consolidation, or other major expenses. The homeowner repays the new mortgage through regular monthly payments.

4. Second Mortgage for Down Payment (Piggyback Loan): A second mortgage can be used as part of a piggyback loan structure to avoid paying private mortgage insurance (PMI). In this scenario, a borrower takes out a second mortgage to cover a portion of the home's purchase price, typically 10% or 15%. The first mortgage covers the majority of the purchase price, usually 80%. The borrower contributes a down payment, typically 5% or 10%. This structure helps borrowers avoid the cost of PMI when the down payment is less than 20%.

For more information about delayed financing please reach out to one of our experienced mortgage advisors. 

Park Place Financial Group

Joe Costa

Marni Wolf

402 West Broadway

Suite 400

San Diego, CA 92101

619-990-7552

info@parkplacefg.com

www.parkplacefg.com

Obtaining Life Insurance When Purchasing A New Home To Provide A Safety Net For Your Family

Inquiring about life insurance when obtaining a home loan and for business purposes is crucial for both investment and family protection. Let's explore the reasons why:

1. Financial Security for the Family: Life insurance provides a safety net for your family in the event of your untimely demise. If you pass away, the life insurance payout can replace the lost income and help your family maintain their standard of living. This is especially important when you have dependents or if you're the primary breadwinner. The payout can be used to pay off outstanding debts, such as a home loan, and cover ongoing expenses like mortgage payments, education costs, and daily living expenses.

2. Protecting Your Home Loan: When obtaining a home loan, the lender requires collateral, usually the property itself. In the event of your death, if there isn't sufficient life insurance coverage, your family may struggle to make the mortgage payments. This could potentially lead to foreclosure and the loss of the family home. By having adequate life insurance coverage, your family can use the payout to settle the home loan, ensuring they can continue living in their home without financial strain.

3. Business Continuity: If you're a business owner, life insurance can be essential for business purposes. If you have business partners or shareholders, a life insurance policy can be structured to fund a buy-sell agreement. This means that in the event of your death, the policy payout can be used to buy out your share of the business, providing financial stability for your family and ensuring the business continues to operate smoothly.

4. Estate Planning: Life insurance can also play a vital role in estate planning. It can provide liquidity to cover estate taxes, ensuring that your loved ones don't have to sell assets, such as the family home or business, to meet the tax obligations. Life insurance proceeds can help preserve your estate and pass it on to future generations.

5. Peace of Mind: Lastly, life insurance offers peace of mind. Knowing that your family will be financially protected and taken care of in the unfortunate event of your death can relieve a significant amount of stress. It allows you to focus on building your business, enjoying your home, and living your life with confidence, knowing that you've made provisions to safeguard your loved ones' financial future.

For more information about life insurance protection please reach out to one of our experienced mortgage advisors. 

Park Place Financial Group

Joe Costa

Marni Wolf

402 West Broadway

Suite 400

San Diego, CA 92101

619-990-7552

info@parkplacefg.com

www.parkplacefg.com

 

What is Delayed Financing And When Would It Be a Good Loan Option?

 Delayed financing is a mortgage strategy that allows homebuyers to purchase a property with cash and then quickly refinance the property to recoup their funds. This approach is particularly beneficial for buyers who want to make a strong cash offer, which can be more attractive to sellers, and then secure a mortgage afterward to recover their cash for other investments or liquidity needs.

Here’s a breakdown of how delayed financing works and its benefits:

How Delayed Financing Works

1. Cash Purchase: The buyer purchases the property entirely with cash.
2. Title and Documentation: After the purchase, the buyer must ensure that they have clear title to the property and that all necessary documentation (such as the Closing Disclosure) is in place.
3. Refinance Application: The buyer applies for a cash-out refinance almost immediately after the purchase. Most lenders allow this to happen as soon as the title is recorded, which can be within days or weeks.
4. Lender Requirements: The lender will typically require the following:
   • Proof that the purchase was made with cash (e.g., bank statements, wire transfer records).
   • Proof that the purchase was an arm's length transaction, meaning it was not between family members or other closely related parties.
   • A new appraisal to confirm the property’s value.
   • The original Closing Disclosure.
5. Refinance and Reimbursement: Once approved, the buyer receives a mortgage for a significant portion of the property’s value (usually up to 75-80%), allowing them to recover their initial cash investment.

Benefits of Delayed Financing

• Stronger Offers: Cash offers are generally more attractive to sellers because they can close quickly and have fewer contingencies, increasing the likelihood of winning a bid in a competitive market.
• Liquidity Management: Buyers can recover their cash investment quickly, allowing them to use it for other purposes, such as additional investments or maintaining financial flexibility.
• Potentially Lower Costs: By purchasing with cash first, buyers might avoid some costs and delays associated with traditional mortgage approval processes during the purchase phase.
• Investment Opportunities: Investors can leverage their cash to secure properties quickly and then refinance to continue investing in other opportunities without being cash-strapped.

Considerations

• Qualification: Buyers must still meet the lender’s requirements for refinancing, including credit score, debt-to-income ratio, and property appraisal.
• Costs: There are costs associated with refinancing, such as appraisal fees, closing costs, and potentially higher interest rates compared to a purchase mortgage.
• Timing: Buyers need to act quickly to ensure the refinance is completed soon after the purchase to maximize liquidity benefits.

For more information about delayed financing please reach out to one of our experienced mortgage advisors. 

Park Place Financial Group

Joe Costa

Marni Wolf

402 West Broadway

Suite 400

San Diego, CA 92101

619-990-7552

info@parkplacefg.com

www.parkplacefg.com

What is a VA IRRRL?

 A VA Interest Rate Reduction Refinance Loan (IRRRL), also known as a VA Streamline Refinance, is a mortgage refinance program offered by the U.S. Department of Veterans Affairs (VA) for eligible veterans, active-duty service members, and certain reservists and National Guard members. The primary goal of the VA IRRRL is to help borrowers reduce their interest rates and monthly mortgage payments with minimal paperwork and hassle. Here are some key features of the VA IRRRL:

1. Simplified Process: The VA IRRRL requires less documentation and underwriting compared to other types of refinance loans. Often, an appraisal or credit underwriting package is not required.

2. Lower Interest Rate: The new loan must have a lower interest rate than the existing VA loan unless you are refinancing an adjustable-rate mortgage (ARM) into a fixed-rate mortgage.

3. No Cash Out: The VA IRRRL does not allow the borrower to take cash out of the equity built in the home. It is strictly for the purpose of lowering interest rates and monthly payments.

4. Closing Costs: Closing costs can be rolled into the new loan, so borrowers may not need to pay these costs out of pocket.

5. Occupancy Requirements: The borrower must certify that they previously occupied the property as their primary residence. However, they do not need to currently occupy the home to be eligible for a VA IRRRL.

6. Funding Fee: The VA IRRRL requires a funding fee, which is a percentage of the loan amount. This fee can also be rolled into the loan amount. Certain veterans, such as those receiving VA disability compensation, may be exempt from the funding fee.

7. No Maximum Loan Amount: There is no maximum loan amount for a VA IRRRL, but the new loan amount cannot exceed the sum of the existing loan balance, allowable fees and charges, and up to two discount points.

Come Get Fit Financially With Park Place Financial Group

 Join us for the Get Fit Financially Sunset Yoga Event Presented By Park Place Financial Group, The Enriquez Group and Yoga Six Little Italy in support of our First Responders and the San Diego Fire-Rescue Foundation.

Unwind and de-stress with a relaxing 1 hour sunset yoga session, meditation, and breathwork class at the beautiful Cielo Rooftop Deck.

This is not your everyday yoga class. Completely unwind utilizing our wireless headphone technology and enjoy the beautiful outdoors while the headphones block out all external distractions. Listen to the music, the yoga instruction, guided meditation, and breathwork in your ears. Disconnect to Reconnect to yourself in this hour of relaxation.

Let go of the day's worries as you stretch and breathe in the fresh evening air. This in-person event is the perfect way to rejuvenate your mind, body, and spirit while enjoying a stunning sunset view.

No matter your experience level, all are welcome to participate in this calming yoga practice. Bring your mat, water bottle, and positive energy for an evening of self-care and relaxation. Don't miss out on this unique opportunity to Get Fit Financially both physically and mentally!

Park Place Financial Group

Joe Costa/Marni Wolf

402 West Broadway 

Suite 400

 San Diego, CA 92101

619.990.7552

www.parkplacefg.com

info@parkplacefg.com

Get Your Client's Pre- Approved Before They Begin The Home Search Process

 

Getting your client's pre-approved for a residential mortgage before starting their home search is crucial for several reasons: Understanding Your Client's Budget: Pre-approval gives you a clear understanding of how much they can afford to spend on a home. This helps you narrow down your search to properties that are within their budget, saving you time and effort. Competitive Advantage: Sellers often prefer buyers who are pre-approved because it indicates that they are serious and financially capable of purchasing the property. In competitive markets, having a pre-approval can gives your client's an edge over other potential buyers. Negotiation Power: With a pre-approval in hand, you have more negotiation power when making an offer. Sellers are more likely to consider your offer seriously because they know your client's can secure financing. Avoiding Disappointment: Falling in love with a home that you later find out your client's can't afford can be disheartening. Pre-approval helps you avoid this disappointment by setting realistic expectations from the start. Streamlined Process: Once you find the perfect home for your client's to buy, having pre-approval can expedite the mortgage process. It shows that your client's have already gone through the initial steps and are ready to move forward, potentially speeding up the closing timeline. Identifying Potential Issues: During the pre-approval process, lenders assess your client's financial situation and creditworthiness. This can help uncover any issues early on, such as errors on their credit report or areas for improvement in their financial profile, which you can address before making an offer on a home. Getting pre-approved for a mortgage is a smart first step in the home buying process. It not only helps you and your client understand their budget and streamline the buying process but also gives you and your client's a competitive advantage in the real estate market. GET PRE-APPROVED Please reach out to our team of mortgage advisors with over 30 years of experience to learn more about how we can help you with your client's pre-approval this weekend. We can get your client's pre-approved very quickly with our innovative technology. 619-990-7552 (CA) 602-920-8142 (AZ) EMAIL US Click on the links below to get find out more about all of our services. Mortgages Real Estate Business Loans IUL-Life Insurance Protection Fundraising & Corporate Wellness Events Mind, Body, Soul & Financial Balance

Offices in CA, AZ, and Coming Soon NV Park Place Financial Group www.parkplacefg.com info@parkplacefg.com 619-990-7552 (CA)  602-920-8142 (AZ) NMLS #: 1267181 DRE #:01410823 CA Insurance:0G43152

Park Place Financial Group Has A Large Portfolio Of JUMBO Loan Products

 

For more information about our JUMBO Loan Portfolio Products or any of our other financing products please contact us at Park Place Financial Group

📲619.990.7552

📧info@parkplacefg.com

💻www.parkplacefg.com

#mortgages #mortgagebroker #loan #realestate

Park Place Financial Group Offers Commercial Loan Products

 

We have a variety of options for you. Our Park Place Commercial Division is here to support your financing needs. We can help provide financing in the following areas now matter what state  you live in, Property Types: Industrial, office, restaurants / retail, gas stations, strip clubs, cannabis properties, funeral homes, senior care facilities, residential 1-4 units, non-conforming, non warrantable condos, mixed-use, certain infill lots in good areas, and special use property types.  Property Conditions: Vacant, non-income producing, environmental issues under the Brownfield Act, code violations, abatements.  Borrowers: Irrevocable Trusts, Self-Directed Retirement Accounts, Foreign Nationals, ITIN borrowers, Individuals, Entities, Power of Attorney, Non-Profits, and more! Challenging Deals: Notice of defaults, forbearance, foreclosure bailouts, distressed assets, certain BKs, red tags, vacant, code violations, abatements, dilapidated properties. Term: interest-only to 20 years fully-amortized. Loan Amounts: $100K to $20MM.   If you have a scenario you would like to run by us, call 619-990-7552 or commercialfinancing@parkplacefg.com Click on the link below to Email Us to learn more about how we can help you with our exciting range of diverse commercial loan products. We are confident that our flexible solutions can help you achieve your investment dreams. We look forward to working with you and assisting you in finding the perfect mortgage option. EMAIL US We are available on Saturdays and Sundays. CA: 619-990-7552 AZ: 602.920.8142 Click on the links below to get find out more about all of our services. Mortgages Real Estate Business Loans IUL-Life Insurance Protection Fundraising & Corporate Wellness Events Mind, Body, Soul & Financial Balance Offices in CA, AZ, and Coming Soon NV Park Place Financial Group Joe Costa Marni Wolf www.parkplacefg.com info@parkplacefg.com CA: 619.990.7552 AZ: 602.920.8142 NMLS #: 113396 DRE #:01410823 CA Insurance:0G43152 Connect with us!

Park Place Financial Group | 402 West Broadway, Suite 400, San Diego, CA 92101

VA Loans: The Benefits You Deserve

VA Loans - The Benefits You Deserve HOMEOWNERSHIP, FINANCIAL SUPPORT, NO DOWN PAYMENT, FLEXIBLE TERMS As we embark on the 4th of July, we owe a debt of gratitude to our veterans, who have selflessly stood on the frontlines to protect and defend our country. Thank you for your unwavering dedication and sacrifice. You deserve the best financing options and we have those options available for you. There are numerous valuable benefits of VA loans, which can be incredibly advantageous for eligible veterans. VA loans, backed by the U.S. Department of Veterans Affairs, offer numerous advantages for military service members, veterans, and their families. Here are some key benefits to consider: No down payment: One of the most significant advantages of a VA loan is that it allows eligible borrowers to purchase a home with no down payment. This feature opens up opportunities for homeownership and eliminates the need for a substantial upfront cash investment. Lower interest rates: VA loans typically offer competitive interest rates compared to conventional mortgages. This can result in substantial savings over the life of the loan, reducing monthly mortgage payments and overall borrowing costs. No private mortgage insurance (PMI): Unlike conventional loans, VA loans do not require private mortgage insurance. This eliminates an additional monthly expense, allowing borrowers to keep more money in their pockets. Flexible credit requirements: VA loans tend to have more flexible credit requirements compared to other loan options. While lenders still consider credit history, VA loans provide opportunities for individuals with less-than-perfect credit to secure financing. Streamlined refinancing: VA loans offer a streamline refinance option, known as the Interest Rate Reduction Refinance Loan (IRRRL). This program enables borrowers to refinance their existing VA loan to obtain a lower interest rate with minimal paperwork and no appraisal requirement. These are just a few of the benefits that VA loans offer. If you're considering purchasing a home or refinancing your current mortgage, we highly recommend exploring the advantages that VA loans provide. As an eligible veteran, this program is designed to support and reward your service.  Find out how much you could potentially qualify for by clicking on our secure link below. APPLY NOW If you have any questions or would like further information about VA loans, or any of our other loan products please don't hesitate to reach out to us. Thank you for your service, and we look forward to helping you navigate the benefits of VA loans. EMAIL US CALL US (CA) CALL US (AZ) Offices in CA, AZ, CO, and Coming Soon NV Park Place Financial Group www.parkplacefg.com info@parkplacefg.com 646.245.7856 NMLS #: 1267181 DRE #:01410823 CA Insurance:0G43152 Connect with us!

Park Place Financial Group | 402 West Broadway Suite 400 | San Diego, CA 92101 US

 

Get Fit Financially Sunset Yoga Event Presented By Park Place Financial Group

At Park Place Financial Group, we firmly believe that financial wellness goes hand in hand with physical and mental well-being. That's why we organize "Get Fit Financially" events, where we combine financial education with fitness and wellness activities. These events provide a unique opportunity to learn about money management, investment strategies, and healthy living practices, all in one fun and engaging setting.

Join us at our "Get Fit Financially" events and take advantage of our services to enhance your financial well-being. We aim to empower you with the knowledge and tools necessary to achieve financial freedom and lead a healthy, balanced life.

Joe Costa and Marni Wolf

Park Place Financial Group

402 West Broadway, Suite 400

San Diego, CA 92101

619-990-7552

info@parkplacefg.com

info@parkplacefg.com