Our Blog -- Investments, Mortgages and Advice

As of September 1, Archway Home Loans is officially licensed and open for business in Texas! We are beginning our service in the Greater Houston area, where we have been scoping out the market and learning about Texas' unique financial needs for the past two years. We are bringing our style of customized, client-focused business to Texas while still maintaining our close relationships with our California clients. We have a new office manager on board so we can maintain our same level of service. To celebrate our business expansion, both new and existing clients will be receiving a thank-you gift from us!
Posted by Richard Kelly on September 3rd, 2015 2:14 PM
Welcome To Archway Home Loans! For several years our business, owned and managed by Richard Kelly, has been known as VestaOne Mortgage, but we have decided to change the name. Why? The sound, professional reasons for the change are that we are opening up a new branch in Texas and adding new employees, and want the new name to reflect the expansion and change in our business. The not-so-professional reason for the name change is that everyone was tired of spelling VestaOne.
So what does this mean for our customers? Frankly, not much. Richard provides the same personalized, professional service as always, and the same lenders and programs are in effect. The only difference is a new website, a new domain, and added employees and locations. Our next blog post will talk about our new website, which has some great features such as a daily rate monitor that is an exciting new tool to help track the market.
In the mean time, we'd love to hear from you: old customers, new customers, send us your questions or information requests and we will gladly post about them.
Until then, 
Archway Admin
Posted in:Business and tagged: ArchwayVestaOneBusiness
Posted by Richard Kelly on June 12th, 2015 1:17 PM

Mortgage rates are looking at some new lows for 2010.  As of Friday afternoon, you can refinance a conforming loan at 4.75% (par). 

If you refinanced at least six months ago, you might want to see if you can do better now.  Why six months?  Because most lenders want to see at least six months of payments before they will consider underwriting a new loan. 

Posted in:General
Posted by Sheryl Klein, MBA on May 15th, 2010 9:46 PM

Interest rates are very attractive right now and some people think it is a great time to pull some money out of their house.  Here are some things to know if you are considering this.

Terms for cash out refinancing aren’t as good as straight rate and term refinancing. Today, most lenders charge an extra 1% on the interest rate for a cash-out refinancing. Lenders also put restrictions on the amount of money you can pull out. Most lenders want to see the borrowers retain at least 35% to 40% of equity in their house. The best rates are for loans where the LTV is 60% (40% equity).

The amount you will be able to pull out will depend on the appraisal and this process has changed for some lenders in the past year. Many lenders now require that they order the appraisal. As a result, many appraisers today are chosen based on their fees and not their knowledge of the area. So, in general, appraisals today are coming in on the lower side.


Posted in:General
Posted by Sheryl Klein, MBA on May 13th, 2010 4:54 PM

It turns out that interest rate loans don't peform as well as other loan products.  So, Freddie Mac will stop buying them in the fall. 

Last week, Freddie Mac announced that on September 1, 2010, the company will cease purchasing and securitizing interest only mortgages, including Freddie Mac Initial InterestSM fixed-rate and adjustable-rate mortgages.  Interest only mortgages, including Freddie Mac Initial Interest mortgages, provide for interest-only payments for a specified period of time beginning with the first monthly payment after the note date, and principal and interest payments on a fully amortizing basis for the remainder of the mortgage term.

Given the continued lackluster performance of the economy, this is no surprise.  And in the end, probably better for consumers. 

Posted in:General
Posted by Sheryl Klein, MBA on February 28th, 2010 10:01 PM