San Francisco-based mortgage company expanding in California
ROHNERT PARK, Calif., Dec. 2, 2013 /PRNewswire/ — Bay Equity Home Loans is pleased to announce the opening of a branch in Rohnert Park managed by mortgage industry veteran Tim Carroll.
"With mortgage interest rates having increased recently, there has been a distinct slowdown in refinances nationwide," said Tim Carroll, Branch Manager at Bay Equity Home Loans in Rohnert Park (www.bayequityhomeloans.com/tim-carroll). "We anticipated this would happen and have taken the necessary steps to re-focus our core business to helping people purchase homes," Carroll explained.
George Adair, Area Manager for Bay Equity, explained some of the reasons for Bay Equity's success, "We have made a concerted effort to reach out to our community and offer programs that help people realize the dream of home ownership." Those programs include Homes for Heroes; a community minded program committed to providing substantial housing related discounts to active military personnel, veterans, police officers, fire fighters, first responders, teachers and health care professionals. "Bay Equity is the official Homes for Heroes mortgage lender in Sonoma County and we have teamed up with several top Realtors to help those who have served their Country or their local communities, purchase a home when often times they could not afford to do so," said Adair.
In addition to Homes for Heroes, Bay Equity offers the FHA Back to Work program. "This loan program allows individuals who have suffered through an economic event that resulted in a foreclosure, short sale or bankruptcy to get back in the housing market and buy another home in one year," said Branch Manager Tim Carroll. "In many cases, the waiting period to purchase a home after an event like bankruptcy or foreclosure is between two to seven years. To be able to buy another home after only 12 months is incredible," Carroll added.
While Bay Equity continues to focus on the purchase market George Adair points out, "In spite of rising interest rates, we also see a lot of refinances on the horizon. We are still doing many HARP loans for underwater homeowners and are also seeing an increase in cash-out refinances now that home values are up significantly."
About Bay Equity
Bay Equity is a full-service wholesale and retail mortgage lending institution founded and headquartered in the heart of San Francisco's Financial District. In 2011 and 2012, San Francisco Business Times named Bay Equity among its "Top 100 Fastest-Growing Private Companies" in the Bay Area. Bay Equity also has operation centers throughout California, Oregon and Washington along with 69 retail branch offices on the West Coast. To learn more about Bay Equity visit our site at www.bayequityhomeloans.com.
Media Contacts:
John Marler
Senior Vice President, Marketing and Communications
Bay Equity Home Loans
503.305.2615
Email
Tim Carroll
Branch Manager
Bay Equity Home Loans
707.583.8116
Email