Napa's Loan Ranger Chris Salese: 5 ways to turn down some of the noise

Napa's Loan Ranger Chris Salese: 5 ways to turn down some of the noise


It doesn’t matter, at least for the most part, where you live around the country. There’s simply a lot of noise everywhere right now.

For example, it might be the weather, politics, economic or social related, but it’s constantly around us. It’s loud out there. We have fire threats and damage, impeachment hearings, record stock market highs as well as continued social violence.

I know there also are plenty of things to be thankful of this holiday season too. Nonetheless, that noise seems to get twisted around in the form of crazy gift buying promotions starting this month.

Unfortunately, when it’s noisy, it typically pushes your stress button more often. Since many folks aren’t stress free, the noise just naturally cranks up your stress level a notch.

Should that happen, you tend to act in a hasty manner. I’m not saying that the insurance companies who send you a non-renewal notice if you live in an extreme fire zone area are hasty, but there needs to be a better advanced warning approach instead of yanking the policy or tripling your annual premium.

If that occurs, your home loan qualifications could be in jeopardy. Despite several alternative solutions, the new normal is effectively a bigger monthly mortgage payment.

In addition, the sound meter keeps moving upward due to the ongoing impeachment hearings along with the upcoming election-year posturing from all parties.

I guess you can say this is a double-distraction whammy for all our politicians who likely are unable to maximize their time spent on housing related issues.

On top of that, the trade war news at times has helped the stock market rise to record highs, yet at other times assisted to create an amazing interest rate environment. This has been an incredibly loud push-pull exercise in the stock and bond markets.

Although these matters have been contributing to all the noise out there, they aren’t alone. Plenty of other forces are in play.

Here are a few things you can do to control the volume:

First — regarding your home insurance — find out your lender’s deductible limits and perform a complete policy review.

Yes, it’s complicated, therefore get a couple of opinions and maybe you can save money each month while still maintaining acceptable coverage.

Second, take a deep dive into any available interest-only loan programs.

They are not for everyone. On the other hand, for those who can manage them, these products give you a ton of monthly payment flexibility and a buffer against events you cannot control.

Third, ditto on the 40-year amortized loan programs.

They are out there, consult with your lender on how to best utilize them.

Fourth, you need to analyze the power of rate buy-downs.

They come in different forms, the most common is paying points and a graduated 3-2-1 buy-down can be even better.

Lastly, do nothing.

That’s right, stay put, don’t sell or refinance. Educate yourself, build a plan and be ready to act on your own noise level.

Chris Salese can be reached at or 707-363-4439. He is a licensed California mortgage lender (LO NMLS #254469 — CA-DBO #254469 Corp NMLS #1850 Equal Housing Opportunity.


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