Christie Mitsumura Blue Seas Team » home buying

“My Rent Went Up Again…” — What I Told My Friends When It Happened to Them Too

jsavusa2018@gmail.com — Thu, 24 Jul 2025 01:09:14 +0000

We’ve all heard it, said it, felt it:
“My rent went up again this year.”

It’s frustrating, right? You’re not doing anything differently, yet your monthly bill keeps climbing. And if you’re like a lot of my friends (and maybe you, too), you’ve probably had that moment where you think, “At this rate, I could probably own a home.”

Well… you might not be wrong.

So, here’s what I’ve been telling my friends lately—and now, I’m telling you too.

Let’s Talk Real Numbers—Not Just Rent

When your rent goes up for the third year in a row, it’s easy to feel stuck. But here’s the deal: that monthly payment? It might already be in the range of a mortgage.

Seriously.

Once we break it down:

Rent = money gone forever
Mortgage = money building your future

You might already be paying enough—you just haven’t explored what those same dollars could be doing for you if you owned instead of rented.

Not Ready? That’s Okay. Get Pre-Approved Anyway.

Now, before you say, “I’m not ready to buy a house,” hear me out.

Getting pre-approved doesn’t mean you’re buying a house tomorrow. It’s not a commitment. It’s not a contract. It’s not scary.

What it is:

Free
Informative
Empowering

Pre-approval simply shows you what you could afford, what programs you might qualify for, and where your credit and finances stand. It gives you real, personalized numbers—not generic guesses from a mortgage calculator.

Think of it like window shopping… but smarter.

Creative Ways Buyers Are Getting Into Homes (Even With Less Than 3% Down)

This part blows people’s minds the most:
You don’t need a massive down payment or a perfect credit score.

Right now, I’m helping buyers get into homes using creative combinations like:

Temporary rate buydowns (lower interest rate = lower monthly payment for the first few years)
Local down payment assistance programs
Grants and closing cost help

When stacked together, these programs can make homeownership feel a whole lot more achievable—and sometimes cheaper than renting.

Every city and state has unique options, so it’s worth taking a closer look at what’s available where you live.

Renting Was a Season—Not a Life Sentence

Look, renting served its purpose. It gave you flexibility, time, maybe even a cool view or a walkable lifestyle.

But if rising rent has become your norm… it might be time to ask yourself:

Is renting still serving you?

You don’t have to jump headfirst into the market. But you do deserve to know what your options are.

And that’s where I come in.

No pressure. No pushy sales pitch. Just honest answers, smart strategies, and a clear picture of what homeownership could look like for you—whether it’s now, next year, or further down the road.

Final Thought: Just See What’s Out There

The friends I’ve helped recently?
They didn’t think they could afford a home either.

But they:

Looked at their real numbers
Asked questions
Got answers

And now? They’re homeowners.

So, if your rent just jumped again… maybe it’s time to stop assuming and start exploring. Because sometimes, the first step isn’t buying a house—it’s just asking the right questions.

Let’s start there. I’m here when you’re ready.

The post “My Rent Went Up Again…” — What I Told My Friends When It Happened to Them Too appeared first on Christie Mitsumura Blue Seas Team.

I don’t have a down payment to buy a house. Is 100% financing still a thing?

jsavusa2018@gmail.com — Thu, 29 May 2025 00:29:52 +0000

One of the most common things I hear from potential homebuyers — especially first-time buyers is:

“I’d love to buy a home, but I don’t have a down payment.”

Totally understandable. Saving up tens of thousands of dollars while also dealing with rising rent, everyday bills, and just… life, isn’t exactly easy.

So, the big question is —
Is 100% financing still a thing?

The answer: Yes. It still exists. And it’s more accessible than most people think.

Let me break it down for you.

The 100% Financing Option Most Buyers Don’t Know About

A client came to me recently, feeling a little discouraged.

They had a solid job, great credit, and were preapproved for a mortgage — but the one thing holding them back was the down payment.

They asked, “Isn’t there any way to buy a home without putting 5%, 10%, or even 20% down?”

That’s when I introduced them to a 100% financing option that splits the loan into two parts — no down payment required.

Let’s walk through a real example using a $400,000 home:

First mortgage (97%) = $388,000
Second mortgage (3%) = $12,000
That adds up to 100% financing — the entire purchase price covered.

You read that right: no down payment needed.

Monthly Payment Breakdown:

Naturally, the next question was:
“Okay, so what would my monthly payment look like?”

Here’s the breakdown for the first mortgage:

Principal & Interest: $2,581
Estimated Taxes: $500
Home Insurance: $300
Mortgage Insurance: $325

That brings the total monthly payment to about $3,706.

Now, here’s the best part:

The second loan — the one covering the last 3% of the purchase — comes with:

✅ 0% interest
✅ $0 monthly payment

That’s right. You’re not required to make payments on that second portion, and it doesn’t accrue interest.

This setup makes homeownership possible for buyers who are financially stable but just haven’t had the chance to save up for a large down payment.

What You Do Need to Cover

While you don’t need a down payment with this structure, you do still need to account for closing costs.

Closing costs typically range from 2% to 4% of the home’s purchase price. In this example, that would be somewhere between $8,000–$16,000.

But here’s a strategy:
Many buyers negotiate a seller credit to help cover these expenses — especially in markets where homes are sitting a little longer and sellers are more flexible.

So yes, it’s entirely possible to walk into a home with little to no money out of pocket.

Is 100% Financing Right for You?

Like any loan product, this isn’t a one-size-fits-all solution.

It’s a great option for buyers who have strong income and credit but don’t have liquid cash for a down payment. That said, your eligibility will depend on a few factors, like:

Income and debt-to-income ratio
Credit score
Property location (some programs are specific to certain areas)

That’s where working with a mortgage expert ( hi, that’s me) can make a big difference. I’ll walk you through your options, compare loan types, and make sure you understand the pros and cons of each one.

Final Thoughts

If you’ve been holding off on homeownership because of the down payment — it might be time to take a second look.

Yes, 100% financing is real. Yes, it’s available in 2025. And yes, with the right guidance, it could be your ticket to finally buying a home of your own.

Want to explore your options or see if you qualify?
Reach out today and let’s chat. A quick conversation could be the start of something big — and it won’t cost you a dime to start.

The post I don’t have a down payment to buy a house. Is 100% financing still a thing? appeared first on Christie Mitsumura Blue Seas Team.

Imagine knocking six years off your mortgage just because you asked one question most people forget

jsavusa2018@gmail.com — Thu, 15 May 2025 00:32:09 +0000

When it comes to mortgages, most people focus on the obvious questions:

“What’s my interest rate?”

“What’s my monthly payment?”

“Is this the right time to buy?”

And while those are definitely important… there’s one question that often gets overlooked — and yet, it could literally save you years of payments and thousands of dollars in interest.

Let me tell you a quick story.

It started with one simple question…

A few months ago, I was working with a couple who were finalizing their mortgage documents. They were excited — you know, that giddy kind of excitement that comes with finally getting the keys to your own place.

We were going over the loan terms, and I asked them:

“Did you check if there’s a pre-payment penalty on this loan?”

They paused. Looked at each other. Then back at me.

“…What’s a pre-payment penalty?”

If you’re wondering the same thing — you’re not alone. Most people don’t realize that some loans come with a penalty if you pay off the mortgage early or even make extra payments outside the normal schedule. And that can be a major roadblock if you’re trying to build equity or save on long-term interest.

Luckily, their loan didn’t have a penalty — which meant we could get strategic.

The real numbers that make a big difference

Let’s look at this in plain English — with real-life numbers.

Let’s say you take out a $550,000 mortgage at a 6.5% interest rate.

If you make the minimum monthly payments for 30 years, you’ll end up paying over $714,000 in interest by the time it’s all said and done.

But… what if you added just $290/month to your mortgage payment? That’s about $3,500 per year.

Here’s what happens:

✅ You shave off about 6 years from your loan

✅ You save over $160,000 in interest payments

That’s a down payment on another property. That’s college tuition for your kid. That’s retirement savings. That’s freedom.

All from one smart move — that only works if your loan allows it.

So, what’s the takeaway?

Always ask:
“Is there a pre-payment penalty on this loan?”

This one simple question gives you the power to make strategic financial decisions that put more money back in your pocket over time.

Here’s the truth:
Sometimes the smartest thing you can do as a homebuyer isn’t just picking the lowest rate — it’s knowing what to ask before you ever sign on the dotted line.

And the best part? You don’t have to be a math genius or financial planner to do this. You just need to be informed, ask the right questions, and work with someone who has your back.

The post Imagine knocking six years off your mortgage just because you asked one question most people forget appeared first on Christie Mitsumura Blue Seas Team.

Home Buying Zoominar

jsavusa2018@gmail.com — Sat, 20 Jul 2024 06:41:27 +0000

Owning a home is a powerful strategy for accumulating wealth over time and fostering improved financial behaviors.

Join me on August 6th, 2024 to launch your path to financial prosperity.

CLICK HERE to REGISTER

The post Home Buying Zoominar appeared first on Christie Mitsumura Blue Seas Team.

Graduated Payment Mortgage Program

jsavusa2018@gmail.com — Fri, 01 Dec 2023 21:23:55 +0000

Calling all Realtors, I am hosting a Zoominar for you!

Are current interest rates keeping your clients from their real estate goals?

Sign up for my upcoming Zoominar on 12/15/2023 or schedule a 121 call with me today! If you prefer coffee talks let’s do it (808)276-6855!

Let me help you achieve your real estate dreams in this current market.

CLICK here to schedule a 121 with me

CLICK here to reserve your spot for the December 15th Zoominar, space is limited.

The post Graduated Payment Mortgage Program appeared first on Christie Mitsumura Blue Seas Team.

March Renters to Owners Zoominar

jsavusa@masonmac.com — Wed, 22 Feb 2023 22:55:02 +0000

Click Image to enlarge

Who should attend?

Anyone who…

is tired of RENTING…
has thought of purchasing a home in Hawaii
would like to learn homebuying preparations
would like to learn about down payment assistance & our EXCLUSIVE buyer advantage programs

Join me as I share information about the process and programs with First Time Homebuyers.

I provide more than an “Approval”, “Denial”, or “Button” service. I work with you to SUCCESS. Taking you from Renters to Owners!

Servicing all of Hawaii for over 23 years, “Making a difference in the lives of others”

TAKE THE FIRST STEP – REGISTER HERE TODAY⇐

The post March Renters to Owners Zoominar appeared first on Christie Mitsumura Blue Seas Team.

Is It a Good Time to Buy a House?

jsavusa@masonmac.com — Fri, 09 Dec 2022 20:45:21 +0000

Is It a Good Time to Buy a House?

This question is one of the most common questions we see from consumers, investors, real estate agents, and many others with interest in the real estate market. The answer is ‘yes’. But it also depends on your specific situation, what’s important to you, and where you are financially.

The reason the question “is it a good time to buy a house” comes up frequently today is because interest rates have risen substantially year over year, making the monthly payment rise for many people considering a home purchase. With these higher payments, many are wondering if it’s a bad time to buy a home, but it’s important to remember that with increasing rates has come a softening market – meaning buyer’s today are seeing both lower median home prices and reduced competition, allowing for seller concessions that weren’t widely available during the market craze of 2020-2021. So while payments might be higher today, total price tags may also be lower, allowing buyers to keep more money in the bank at closing time.

The other consideration many people have when asking ‘is it a good time to buy a house’ is what will happen with home values in the future. The real estate crash of 2010 is still fresh in a lot of minds, but it’s important to look at the economics of today’s market and compare them to the crash to see what’s likely to happen in the coming months.

One of the important considerations is one of the foundational aspects of economics and pricing – supply & demand. If you consider the US population has continued to increase and believe that means more people will require housing, the next place to look for a clue on where home values will go is to housing supply.

In the image below you can see that housing supply is far below the supply of homes that was on the market in 2007 preceding the crash in home values. While low inventory isn’t a guarantee of home price growth, in terms of supply and demand, the lack of inventory for a growing population should provide some support for home values and continued appreciation, even if that appreciation is slower than the abnormally high appreciation rates home owners saw in 2020 and 2021. It’s also important to note that real estate is very local, and some markets have more inventory than others, along with varying populations, so examining these numbers in your local market is important!

So interest rates are up, but it appears home values have some support. Interest rates also ebb and flow, so while you should never buy a home based on the hope that your payment will eventually get cheaper, that possibility does exist! If rates dip, refinance possibilities may exist for home owners to reduce their monthly mortgage payment, but this is no guarantee – it would just be a cherry on top for today’s would be home buyers. As you can see below, home prices have historically climbed on a consistent basis outside of the great recession over a decade ago, and for that reason home ownership has been a key metric in helping Americans establish wealth and grow their net worth. For many, the alternative (renting) doesn’t offer that same level of financial security.

So while we’re a mortgage company and home ownership is in our interest (pun intended), a look at the data supports home ownership being a great idea for those who can afford their monthly payment, and those who have the financial stability to consistently make a mortgage payment. The lack of inventory nationwide is good support for home values, and rising rates have diminished some demand, giving buyers more power and control in the purchase process than they’ve had in recent years.

The post Is It a Good Time to Buy a House? appeared first on Christie Mitsumura Blue Seas Team.

What is a Mortgage Rate Lock?

jsavusa@masonmac.com — Mon, 29 Aug 2022 20:39:05 +0000

What is a Mortgage Rate Lock?

A mortgage rate lock allows customers in need of mortgage financing to “lock” in their interest rate. This is an important feature of mortgages because the markets that influence mortgage rates (Mortgage backed securities, or MBS) trade each day and in certain markets can be very volatile. Rates can change daily, and sometimes even multiple times in a single day, so having the option for a mortgage rate lock can protect against some of that volatility.

How It Works

With most mortgages a mortgage rate lock happens during the process and a rate is locked to cover the period of time from when the loan process starts through closing and funding. A borrower will select a lock period and their rate is set at the locked rate for the duration of the lock period. The most common mortgage rate lock time frames are 30 or 45 days, but in extremely busy markets it can be more typical to see 60 day locks. In improving markets when rates are going lower, sometimes a lender will wait until just before closing and do a 15 day (or less) rate lock. Typically, the shorter the rate lock period, the better the rate/pricing will be.

In other situations where a customer wants to lock in a rate to avoid market volatility (ie a market where rates are expected to go up), a mortgage rate lock can be obtained for a longer period of time. In some cases, this requires an up front fee, usually used more as a deposit that gets refunded at closing, as is the case with MasonMac’s “Lock & Shop” program . This type of lock can protect home buyers during a new build, rebuild, or a situation where they’re looking for the right home and want to ensure their monthly payment ends up being what is expected. These longer term mortgage rate lock programs offer that option.

What If the Markets Get Better (or Worse)

By the very nature of a mortgage rate lock, if markets get worse (rates rise), a borrower is protected by their mortgage rate lock. The rate on their loan cannot increase if it’s locked, even if market rates rise. But what if rates get better after a borrower locks in? There are some protections in place. Usually, if the market sees just slight improvements, a locked loan will retain it’s locked rate. But if the market improves substantially, borrowers can be offered the opportunity to “float down” their rate to the current market levels. Sometimes there is a cost for this, but a borrower who has already locked their rate can take advantage of an improving market. This makes a mortgage rate lock a good idea because in a bad market (rates rising) a borrower is protected, and if the market gets really good really fast, a borrower can usually still take advantage. Every lender has a different policy on “float downs” so it’s important to ask your loan officer to explain further.

How to lock your rate

I can review lock options with you to see which type of mortgage rate lock best fits your situation. If you’re interested in new builds and think rates may go up (or the numbers for you to qualify are tight and rising rates could disqualify you from a loan completely), our lock & shop option may be best. If you’ve identified a home and are under contract, a shorter term lock would offer you better pricing and protection to your rate through closing. I can help you select the option that’s right for you, and talk to you about the best mortgage rate lock options available. Once you decide to lock, it’s an easy process for your loan officer to make it official, and you’ll receive documentation that reiterates the terms of your mortgage rate lock.

The post What is a Mortgage Rate Lock? appeared first on Christie Mitsumura Blue Seas Team.

Mason Mac’s Lock & Shop Loan Program

jsavusa@masonmac.com — Wed, 10 Aug 2022 10:32:58 +0000

In a volatile interest rate market, one of the most stressful parts of home buying can be trying to find the perfect home while trying to keep track of rates, payments, and affordability. In a relatively calm market, it may not be a big deal, but in 2022, when rates have moved upward faster than any time we’ve seen historically, interest rates (and payments) are shifting at light speed, and home buyers can be overwhelmed by how much (and how quickly!) monthly payments can change in the days, weeks, and months it takes to find the perfect home.

Enter, MasonMac’s Lock & Shop loan program. With our Lock & Shop product, home buyers can lock in their interest rate for an extended period of time prior to identifying a property. This is a great benefit to buyers because they can take the time to find the right home without the pressure of a rising rate environment weighing on the decision making process.

So buyers are protected from volatile rate increased while shopping for a home, but what if rates improve while they look for a home? Wouldn’t the locked rate then be a bad thing? MasonMac has you covered! Our Lock & Shop product features a 1 time float down option, so if the market improves, our customers are able to take advantage by choosing to exercise the float down option within 30 days of their settlement to take advantage of the improved market.

With the float down function, MasonMac customers get the benefit of both protection from rising rates and the ability to take advantage of an improving market, offering some peace of mind to what can be an otherwise stressful home buying process.

When considering buying a home, we think you’ll love the options we present – with long term locks, this Lock & Shop program, and our Buyer’s Advantage process, we put our customers in the best place for a stress-free house hunting and home buying process. Add to that our highly experienced team of loan officers ready to assist with in depth product knowledge and armed with the technology to streamline the loan process, and home buyers are in the best of hands when working with the team at MasonMac!

The post Mason Mac’s Lock & Shop Loan Program appeared first on Christie Mitsumura Blue Seas Team.

Will Inflation Go Down?

jsavusa@masonmac.com — Wed, 22 Jun 2022 18:31:43 +0000

There’s a lot of economic jargon being tossed around in headlines these days, and one of the hot topics out there is inflation. To start, it’s important to understand what inflation is. When the value of a currency diminishes, the result is inflation – basically, you get less for the same or more. The cost of goods and services increase, costing more money for the same (or worse, less) products or services. There are many causes of inflation, and it’s a pretty complicated economic phenomena that has caused hardship for many people, and in the worst cases of hyperinflation, has even destroyed currencies throughout history. The biggest question on many people’s minds today is ‘will inflation go down?’, often followed by ‘when?’.

Will Inflation Go Down?

Inflation is typically analyzed within 2 economic reports – the CPI (consumer price index) and PPI (producer price index). Both gauge inflation, but PPI excludes volatile energy and food prices. Each report is analyzed for month-over-month changes, and these month-over-month changes are added together over a 12 months cycle to determine an annual rate, which is usually the metric shared when discussing “inflation”. For example, if we started with 0% inflation, and each month for the next 12 months, there was a monthly increase of 1%, inflation at the end of that year would be 12%. This is important because current inflation is important, but it’s equally important to recall the months current readings are being compared to (each month replaces the same month’s reading from the previous year).

It’s important to understand how inflation is calculated to have an idea of when it may go down. For example, summer of 2021 saw a small dip in inflation, and with inflation currently on the higher end of the spectrum, lower 2021 numbers will likely be replaced by higher numbers for the same months in 2022, making it unlikely that inflation will see a dip this summer. However, because of the Fed’s rate hikes (an attempt to reign in inflation by making borrowing more expensive) and the fact that inflation was high in the fall months of 2021, it’s very possible we’ll see inflation numbers start to get some relief in the fall. You can see how inflation has ebbed and flowed in the chart below, so when you see inflation numbers in future months, you can see the month’s being replaced, too, to determine overall inflation.

This helps to answer the question “when” inflation might go down. Assuming the Fed can reign in some inflation with their rate hike plan, and also assuming supply chains begin to normalize, you can see above inflation numbers were at a recent low in July-August 2021, so while month-over-month readings in 2022 are replacing these relatively low numbers, year over year inflation is likely to remain high. Once new numbers begin replacing the higher numbers of late-2021 and early-2022, that year-over-year number, or the annual inflation often presented in headlines, may see some relief.

How does this relate to your mortgage or home buying plans?

A phrase we like to use is “you date your mortgage, you marry your house”. Since inflation has a relationship with mortgage rates (all else being equal, higher inflation = higher mortgage rates and vice versa), it means mortgage rates may be set to remain on the higher end this summer, with some relief in the not so distant future! For home buyers, higher rates have pushed some buyers out of the market, and with increases in home inventory in many markets, there may be a great buying opportunity. And while no one wants a higher rate, if you consider most higher rates equate to higher payments in the ‘hundreds’ of dollars, the reduction in buyer competition and increases in home inventory may mean offers on homes don’t need to be ‘tens of thousands’ over list price as we’ve seen in many markets over the past 2 years. And if & when rates dip, today’s home buyers may have a refinance opportunity to reduce their payment.

For anyone trying to time the market, it’s a tough task – when we look at charts, data, and history, it’s easy enough to make predictions, but there is still uncertainty over the supply chain, COVID-related issues in many export-heavy countries, and geopolitical issues that are tough to predict. Our advice is that if you’d like to buy a home and you can afford the payment, it’s a good time to buy! I recommend contacting a ME before you begin your home search so you’re prepared and informed of the current market, and can be in the best possible position to begin to enjoy the benefits of home ownership!

The post Will Inflation Go Down? appeared first on Christie Mitsumura Blue Seas Team.