ARAMCO Report - The Mother of ALL Mortgage Blogs!

People of The ARAMCO Group

Posted by The Aramco Group on Mon, May 4, 2015 @ 13:05 PM

Thanks to a longtime employee - Barbara Dages

“How are you?” Barbara asks.

You have just opened the door to the ARAMCO offices on a Monday morning. A warm-eyed woman is looking up from her desk, and you are surprised. The office door has the same heft it did on Friday, the fluorescent lights are the same hue of white, and the tiles on the floor are the same beige granite. The office windows too look out onto the same asphalt sea, which always hides behind the same small airport. And, yet her big, blue eyes wrap the first moments of work with kindness — gossamer, furtive, and substantial. That startles you out of idly conjuring checklists like you were a moment ago while you climbed the building’s interior stairwell. You smile back to her.

“I’m fine, Barbara. How was your weekend?”

The banter happens for so brief a moment, and it happens to most all of us on Monday mornings. Our weekends are over, and work must resume. We do this entirely better, and with more warmth in our hearts, because Barbara receives us daily. She has been with The ARAMCO Group for 10 years.

A previous employee called her one-day, so long ago, and asked, “Can you answer the phones here?” 

Barbara had been out of the workforce for 14 years prior to that phone call. The changes in personal computing between the late 1980s and the early 2000s stood before her like a chasm she had to pole vault over alone, and she was concerned she would stumble while trying to make the jump. This new job would require her to be a commuter on the information superhighway, just like the rest of us. She did not want to embarrass herself.

Barbara went through a long interview process with The ARAMCO Group one decade ago. Its duration scared her. Unnerving premonitions of rejection sat in her stomach like sacks of gravel during the periods between phone calls.

Even if she got the job all that waited for her was a mountain’s worth of computer competency that needed to be climbed.

She got the job, and she started answering phones, filing, and ordering supplies. Her roles now include:

  • Quality control
  • Banking
  • Supplies
  • Vendor control
  • Monitoring the general email addresses
  • Filing accounts payable
  • Accounting support
  • Arranging travel
  • Arranging conferences for senior staff
  • Handling mail
  • Renewing business licenses
  • Assisting company officers with annual reviews and recertifications of their licenses

&

  • Answering the phones

She shared two of her most memorable moments in the ARAMCO offices:

First, she recalls the day in which computers no longer scared her; and second, she remembers the day she evacuated the office one year ago in May 2014. The Carlsbad/Aviara fires were blackening out the sky and she was part of the core group that made sure that the ARAMCO team was safe. She calls to mind how she hoped and prayed the staff and office would be unhurt.

Thank you, Barbara. Thank you for all of it. Thank you for sticking with us for all these years. We really appreciate you, your work, and the love that you bring to this office. Cheers to you.

Sincerely,

 

The ARAMCO Team

Topics: The Aramco Group, ARAMCO, Barbara, Mondays

Other Major Things to Think About Before a VA Loan

Posted by The Aramco Group on Mon, Mar 16, 2015 @ 13:03 PM

Veterans, VA loan

Refinancing

If you are thinking of refinancing rather than purchasing a new home, then it is important to compare your current interest rates to the rates currently being offered in the market. Are you paying more then the market rates? If not, then good. If yes, next you have to consider how long you plan to stay in your current home. If you plan on moving in the next six months, it may not be worth while to refinance with a VA Loan. While it is one of the least expensive refinancing options for those who qualify, it still has some up front costs. The savings you make in your monthly payments may just be too little to justify the loan if you plan to make a home change in the short term. If you plan on staying in your current home for a long time, then definitely seek more advantageous rates when you can. Even small savings per month add up to big dollars over the long term.

 

Purchasing a Home with a VA Loan

If you are purchasing your home, including your first home, with a VA Loan, then it is important to seek out and receive a pre-approval letter for your VA home financing. You may contact ARAMCO for that help or any other real estate broker or lender. Your pre-qualification gives a general idea of the extent of financing and on what terms an particular borrower may qualify based on income and debt to income ratio. Most listing agents won’t connect potential buyers with properties without a pre-approval letter these days. It is short hand for what kind of housing market is right for your circumstances. It usually works that an automated underwriter makes a determination based on income, approved up to a pre-set debt to income ratio. 

VA home loan 

In Summary…

There are no restrictions on what you may use the proceeds from a VA Loan to do. While a VA Loan is always a lien against your home, one may use that line of credit how one wishes. You can purchase a new home without any money down, or refinance your existing home at better than market rates. Many Veterans consider a VA Loan in order to consolidate their debt into a more manageable terms and rates. Remember that qualified Veterans can get a VA Home Loan for up to 100% of the total home value. Freddie Mac and Fannie Mae, on the other hand, will not allow for loans above 75% of a home’s value. That 25% can be a big difference to the amount of cash available to you. If your home is worth $400,000, for example, then the difference between a qualified veteran getting a VA Loan versus a non-VA Loan may be up to $100,000. 

 

Is a VA Home Loan right for you and your loved ones? Call ARAMCO Mortgage toll free at 1 (877) 700-0942 or continue exploring www.ARAMCO.biz in order to find out.

Ask Mehran Aram

Topics: Veteran's Administration, mortgages, ARAMCO, VA Loans, VA

ARAMCO Report - Monday September 15, 2014

Posted by Mehran Aram on Mon, Sep 15, 2014 @ 17:09 PM

The latest economic data reflects an uneven improvement in the U.S. economy. An index of manufacturing in the New York region strengthened to a near 5 year high in September while U.S. industrial production fell in August. The offsetting economic data left mortgage rates unchanged with conforming no point 30 year fixed mortgage rates averaging 4 1/4% and 15 year rates closer to 3 3/8ths. Meanwhile 2/3rds of Americans believe they need a stellar credit score to buy a home.

And now for something completely different: Did you know that 96% of people put the peanut butter on first when making a Peanut Butter and Jelly sandwich? After all, it’s not called a Jelly and Peanut Butter.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, and now for something completely different, Jelly, industry, 30 year fixed rates, New York, ARAMCO, Peanut Butter, refinance, economy, U.S.

ARAMCO Report - Thursday September 11, 2014

Posted by Mehran Aram on Thu, Sep 11, 2014 @ 17:09 PM

Following several days of upward movement in treasury yields, mortgage rates are up by 1/8th of a %. Conforming no point 30 year fixed mortgage rates now average 4 1/4% with 15 year rates closer to 3 3/8ths. According to the Mortgage Bankers Association, the volume of loan applications for home purchase fell by 9% in August. Meanwhile RealtyTrac reported the first year over year uptick in foreclosure activity up 7% in August.

And now for something, completely different: Did you know that there is such a thing as a doggy disco in Italy? Yes, every year the owners gather and dance with their dogs!

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, home purchase, RealtyTrac, Treasury, 30 year fixed rates, ARAMCO, Mortgage Bankers Association, Doggy Disco, Italy

ARAMCO Report - Monday September 8, 2014

Posted by Mehran Aram on Mon, Sep 8, 2014 @ 17:09 PM

According to a Fannie Mae report, in August consumer sentiment toward housing turned a bit negative. Overall 35% of them feel the economy is on the right track while 56% believe we are on the wrong track. But 64% of the respondents view conditions as good for purchasing a home. Meanwhile conforming no point 30 year fixed mortgage rates still average 4 1/8th with 15 year rates closer to 3 1/4%.

And now for something completely different: Did you know that Dodger stadium and the area surrounding it has its own designated zip code? The L.A. City Council unanimously voted to get it one in 2009.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, 30 year fixed rates, Fannie Mae, ARAMCO, Housing, L.A. Dodgers, Zip Code, refinance, economy, Dodger Stadium

ARAMCO Report - Thursday August 14, 2014

Posted by Mehran Aram on Thu, Aug 14, 2014 @ 17:08 PM

According to RealtyTrac, foreclosures in July rose by 2% but they were still down 16% from a year ago. Meanwhile CoreLogic reported that the share of homes purchased in cash continued its decline in May and fell to the lowest level since May of 2010, reflecting in part less interest from investors. Mortgage rates remain at their lowest level of the year with conforming no point 30 year fixed rates averaging 4 1/8th and 15 year rates closer to 3 1/4%.

And now for something, completely different: Did you know that President James Garfield could write Latin with one hand, and Greek with the other, at the same time?

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Aramco Financial, Aramco Report, and now for something completely different, home purchase, RealtyTrac, President James Garfield, CoreLogic, 30 year fixed rates, Latin, foreclosures, Greek, cash purchase, ARAMCO

ARAMCO Report - Tuesday August 12, 2014

Posted by Mehran Aram on Tue, Aug 12, 2014 @ 17:08 PM

According to the National Association of Realtors nationwide home price appreciation in the 2nd quarter continued to moderate and is now at its slowest, pace since 2012. But the median price during the 1st quarter year over year still rose by 8.3%. Inventories also rose 6.5% from a year ago. Meanwhile mortgage, rates were unchanged with conforming no point 30 year fixed rates still average 4 1/4% with 15 year rates closer to 3 1/4.

And now for something, completely different: Did you know in the game of Monopoly, the most landed on property where rent is charged is Illinois Avenue!

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, and now for something completely different, home purchase, 30 year fixed rates, ARAMCO, National Association of Realtors, Illinois Avenue, Monopoly, home price appreciation

ARAMCO Report - Tuesday August 5, 2014

Posted by Mehran Aram on Tue, Aug 5, 2014 @ 17:08 PM

The ISM non-manufacturing index rose in June to the highest level in 9 years. U.S. factory orders also rose by 1.1% the highest level since 1992. And according to Core Logic, nationwide home prices in June year over year rose by 7 1/2%. But all the good economic news was offset by continuing geopolitical risks overseas leaving mortgage rates unchanged. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 1/4.

And now for something completely different: Did you know that the Kraft company produces enough Cool Whip in one year to fill the entire Grand Canyon? That’s pretty cool!

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, home purchase, CoreLogic, 30 year fixed rates, ARAMCO, ISM non-manufacturing index, Cool Whip, Kraft, Grand Canyon

ARAMCO Report - Monday August 4, 2014

Posted by Mehran Aram on Mon, Aug 4, 2014 @ 17:08 PM

According to Core Logic the national foreclosure inventory is down 35% from a year ago. Foreclosure inventory made up 1.7% of all homes with a mortgage, down from 2.5% in June of 2013. Year over year, foreclosure rates have been declining for 32 consecutive months. Meanwhile conforming no point 30 year fixed mortgage rates average 4 1/4% with 15 year rates averaging closer to 3 1/4.

And now for something, completely different: Did you know that because of its slow rotation, 243 days on Venus is equivalent to 1 Earth day?

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Aramco Report, home purchase, CoreLogic, 30 year fixed rates, foreclosure, ARAMCO, Mortgage rates, foreclosure inventory, Venus

ARAMCO Report - Thursday July 31, 2014

Posted by Mehran Aram on Thu, Jul 31, 2014 @ 17:07 PM

According the S&P Case Shiller survey covering 10 major U.S. cities, the home price index rose 9.4% in the year ended in May. Nationwide home price appreciation on a year over year basis is at the slowest rate since February of 2013. San Francisco and San Diego’s year over year figures decelerated by about 3 percentage points. Meanwhile mortgage rates were unchanged on mixed economic data. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 1/4.

And now for something completely different: Did you know that in Denmark, people eat about 36 pounds of candy a year? That’s the highest consumption of candy of any country.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Aramco Report, and now for something completely different, San Diego, 30 year fixed rates, ARAMCO, Case Shiller, candy, Mortgage rates, S&P, Denmark