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Andrew Hoffman
Andrew Hoffman has 30 years of experience in financial management and business administration. He has established and operated 10 businesses as well as having worked for a number of large corporations. He has worked in the mortgage business in Santa Fe for a number of years.
Andrew’s key to success in business is his ability to understand the market while striving to provide the highest quality product or service in all of his endeavors. He has a BA from the University of California, Berkeley, an MBA from Columbia University and a BFA in Industrial Design from California College of Arts and Crafts. He has practiced yoga for 20 years, is an avid skier and mountain biker and pursues adventurous travel with zeal.
…or the end of the Perfect Storm
by Andrew Hoffman • SantaFe.com
Jan 19, 2010
For the last year or so, we have been in the midst of a perfect storm for some in the mortgage world. The 30-year rates for 2009, were at a 35-year low most of the year, hitting a 40-year low of 4.625% in early December. At the same time, for buyers at least, the softening of home prices to levels not seen since 2004 offered great opportunities for new home ownership. Low prices, linked to the First-Time Homebuyer Tax credit were a winning combination.
Understanding the Guaranteed Rural Housing (GRH) Program
by Andrew Hoffman • SantaFe.com
Oct 6, 2009
COUNTRY COUSINS
USDA GUARANTEED RURAL HOUSING (GRH) is a little-known loan program which was established to assist borrowers to purchase or refinance rural housing. With a dearth of alternatives to plain-vanilla Fannie Mae/Freddie Mac loan programs, it is worthwhile taking a harder look at GRH, especially since much of Santa Fe County is considered "rural". Obviously, one man's farm is another man's estate, but the guidelines do provide advantages for properties located in Eldorado south as well as most of Santa Fe County, north of Tesuque. The demarcation lines are a bit fuzzy but if "it looks like a farm, smells like a farm, it might actually be a farm," and financeable under this program.
Comparing apples to apples in the lending rate game
A Consumer's Guide
by Andrew Hoffman • SantaFe.com
Sep 18, 2009
Borrowers often focus solely on rate as the means for evaluating one lender against another. I believe that the cost of the loan is a more important qualifier, and loan origination "points" may be the largest component of that cost. Simply put, there is an inverse relationship between rate and points: as rate goes down, points go up.
Understanding the elephant in the room
Myths and Magic: Reverse Mortgages
by Andrew Hoffman • SantaFe.com
Aug 19, 2009
When I mention reverse mortgage in a crowded room, there is usually an awful silence, or it feels as if an elephant just entered the room. Many people put reverse mortgages in the same category with castor oil and the black death. I find that most of this bad press is based upon disinformation or worse, lack of information.
Plain Talk on the Mortgage Market
by Andrew Hoffman • SantaFe.com
Jul 31, 2009
Oh, how correct Bob Dylan was when he wrote this song 40 years ago! Not only has the mortgage market suffered through the most chaotic period ever, but now, in response to the chaos, the regulators are wielding their mighty swords to make sure that it never happens again. Some of the changes have valid elements but, in general, it seems as if we are throwing the baby out with the bath water instead of effecting positive and well-considered policy which helps the consumer. I will try to sort out the changes that we know about today.
Low Mortgage Rates and Tax Incentives
by Andrew Hoffman • SantaFe.com
Jul 13, 2009
As the year is half over, I thought that it might be wise to take a look at tax credits that may be expiring at the end of 2009. Some were included in the stimulus package which expires at the end of the year and others may be renewed. With reasonable home prices, low mortgage rates and tax incentives, it is a good time to buy a home.
