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As a part of our new Fan Mail Q&A Series, we invited Dave Tang; a Realtor & Mortgage Consultant with Portfolio Lending.

“With all the radio ads for low interest mortgage rates…How  does one discern which are legit and which ones are borderline   fraudulent? “ -Tim

Well Tim…. I am always concerned about ads that just feature a rate   because there is so much room for bait and switch. Since most   people today are interested in a 30 year fixed rate mortgage, the   questions I would always ask are:

-Is this a 30 year fixed rate mortgage?
-Is there a pre-payment penalty?
-What is the maximum loan amount available for this loan?
-What is the APR? [assumes you already know the advertised   rate]
-How long is this rate locked for? Can I get that in writing when I lock?
-What are the points, fees and closing costs associated with this loan?
-What is the loan to value required for this loan?
-What is the credit score required to obtain this loan?
-[If applicable] Is this rate valid on a condo or townhome – or just a single family home?
-Can I get a Good Faith Estimate showing the type of loan, rate, and all closing costs?

This is the info you need to really compare loans across the board – if you can’t get acceptable answers and a written Good Faith Estimate, then you really are at the mercy of the person on the other end of the telephone or keyboard.

I have had numerous clients who have gone down the path with a ‘too good to be true’ rate only to find out what they thought they were getting and what they did get were two completely different thing.

Be especially careful on a purchase transaction to work with someone trustworthy – as there are a lot of mortgage brokers who know that by the time you are signing your loan docs to close escrow, it is just too late to go anywhere else!

Congrats to Tim; Great question! You’ve won a free gift card to the store of you’re choice!

Think you have a question for us? Send it in!
If Rainmaker answers your question, you also win a free gift cart of your choice!

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Attention pancake lovers everywhere!

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Rainmaker Property’s own Ceci Ellis presents our newest listing in Belmont, California!

Located in the beautiful Belmont Estates. Video Produced by Alvin Shen.

Best of Belmont Estates – Fabulous, executive home with bay views adjacent to park and just steps from hiking/jogging trails and tennis courts — the perfect home for the active family who enjoys the outdoors and entertaining. This large, single story home features an open floor plan with cathedral ceilings in living, dining, family and master bedroom, a large walk-in pantry and walk-in closet in master suite. The over-sized, totally useable lot includes a back yard with both patio and lawn areas and a big side yard off the dining room perfect for an additional secluded patio and/or storage space for RV or boat. download Shaun of the Dead Automobile enthusiasts will appreciate the 3-car garage which is large enough for 3 full-sized cars, a large workshop area or a combination of cars, lots of extra storage and workshop.

Belmont Estates is a private enclave of executive homes surrounded on three sides by parks and open space without any through traffic where rabbits, deer and raccoons are among the neighbors. All conveniently located just minutes from highways 280 and 92, shopping centers and schools – yet a world away from the hustle and bustle of suburban life.

Special Features of this home:

*2,210 sq. ft. of living area
*7,800 sq. ft. useable lot
*Coveted single story Carlmont model with large walk-in pantry
*4 bedrooms and 2 full baths
*Spacious kitchen with large eating area, breakfast & wet bar
*Master suite with cathedral ceilings, walk-in closet and sliding glass doors to patio
*Dramatic courtyard entry with double doors
*Bay views from living and dining room
*Dining room with sliding glass doors to side yard/patio area
*3-car garage
*Backs to open space
*Adjacent to park, hiking/jogging trails and tennis courts
*Convenient to highways 280 and 82, shopping and schools
*Great Belmont schools including Fox Elementary, Ralston Middle and Carlmont High
*Freshly updated with new paint, carpet and copper pipes

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Rainmaker Properties presents our newest listing.

Huge town home located in the highly desired Mountain View neighborhood of Cuernavaca. Presented to you by Alex Wang. Video Produced by Alvin Shen.

Private Mediterranean villa in beautiful gated Cuernavaca complex. This luxury home is perfect for entertaining, relaxing in the private, wraparound, lush yard or enjoying the country club complex amenities such as tennis courts, pool, sauna or spa. In addition to many designer touches, this home features an open floor plan with cathedral ceilings, hardwood floors, large cook’s kitchen with top end appliances, a lavish master suite and more.

Features of this home include:

*4 bedrooms and 2-1/2 baths, approximately 2,493 sq. ft.
*Lavish, totally private yard & patio
*Cathedral ceilings
*Fireplaces with gas starters in family room and master bedroom
*Hardwood floors in living, dining, kitchen and family room
*Cook’s kitchen with granite counters and top line appliances including Jenn air cook top & ovens
*Maple kitchen cabinets with built-in wine rack
*Family room with state of the art built-in entertainment speaker system
*Romantic master suite with balcony, fireplace, large soaking tub and heated marble bathroom floors
*Custom window coverings
*New ADT alarm system
*Huff Elementary, Graham Middle and Mt. View High Schools

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