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Insider Mortgage Tips: An Interview with Jonathan Pass of RPM Mortgage

By Jonathan Pass

About RPM Mortgage:

Since 1986 RPM Mortgage has brought these principles to our colleagues and our customers through a tradition of "can do, will do" service, making us the independently owned and operated residential mortgage lender of choice from our Alamo, California headquarters to the more than 60 branches we operate. Today, we remain grounded in all the communities we serve and guided by the family-owned values on which we were founded.

What Services do You Offer?

We provide mortgage financing for both purchase and refinance transactions.

How Important is it to Document Your Finances?

Since the financial crash of 2008, the required documentation for mortgage applications has become overwhelming. Short of a DNA test or retina scan, we will know more about your personal finances than you will.

How Can People Tell if It's a Good Time to Refinance?

It really depends on their goals with the refinance. Is it to pay off debt? To get out of mortgage insurance? To reduce an interest rate? To improve the terms of the loan? To finance a second home? To investment in property? Or maybe to start up a business? First we would have to know which facet they're most interested in to determine if it's a good time for them to refinance.

Is Now a Good Time to Refinance?

For people who have an equity position in their homes right now, I do believe it's a good time to refinance. With the recent appreciation and still historically low rates, it could be a great time for people who have not already taken advantage of the low rates.

Why Are People Reconsidering FHA Loans?

People are reconsidering FHA loans due to the high cost of its mortgage insurance. Now that we have seen stability return to the market, we are seeing second mortgage lenders emerge as well as private mortgage insurance companies. With these options, it makes more sense for people to pursue these routes than an FHA loan.

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About The Author

Jonathan Pass was raised in the San Ramon Valley attending Montair Elementary,...

Phone: 925.451.2851

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