A THANKSGIVING
MESSAGE OF GRATITUDE

As we approach Thanksgiving next Thursday, I find myself thinking about all the people to whom I want to express my gratitude. We don’t need a special day once a year to say “thank you,” but the season does remind me to pause and appreciate the people who fill my life with meaning. In my upcoming book, How to Enjoy Comfortable Aging one of the chapters is dedicated to gratitude. I’d like to share a small piece of that practice with you.

Each night, before I go to sleep, I take a small notebook and write the words: “Today, I’m grateful for…” Then I list the people I interacted with that day—starting with my wife, then my assistant, and everyone I worked with or spoke to.

In the morning, before even opening my eyes, I recite the Jewish prayer Modeh Ani: “I am grateful before You, living and everlasting King, for You have returned my soul to me with compassion; great is Your faithfulness.”

Over time, this practice revealed something powerful to me: gratitude and love are deeply connected. Both come from the heart. Think about it—how can you truly say “I love you” without feeling gratitude for that person’s presence in your life? And the reverse is also true: when we express gratitude, our hearts naturally open with warmth and love.

So, I want to say how grateful I am that you’re reading this message—and grateful in advance for your interest in my upcoming book, which will be available in January. I send you my love as well.

Gratitude is like Wi-Fi: invisible, yet it keeps us connected. It only fails when we forget the password—and most of the time, that password is simply “Thanks.” The three images of apples decorating this story are my way of saying Thank You.

Enjoy—and feel free to share!

 

 

 

 

 

 

HOW TO BUY A NEW PROPERTY WITHOUT SELLING YOUR CURRENT ONE?

Many homeowners want to downsize, but feel stuck. They can’t buy the new home until the old one sells, and they can’t comfortably sell the old one without knowing where they’ll move next.

There is a solution: a Bridge Loan.

We recently learned about this program from Tammy Blanchard from Brokers First Funding during an office presentation. The key benefit of this bridge loan program is that it does not require traditional mortgage qualifying criteria. This allows you to:

• Use the equity from your current home to buy your next property in cash, or
• Secure a new mortgage after your existing home sells—something we can plan and discuss in advance.

This creates flexibility and eliminates the pressure of timing both transactions perfectly.

Click this link to watch a video clip of Tammy Blanchard’s presentation posted on my YouTube Channel.

If you have any questions or want to talk through how the process works, feel free to call me: (415) 225-7920

Best wishes,

Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983

NMLS #205637
DRE #00874630

“You’re Only as Good as Your New Collection”

The San Francisco Chronicle recently reported that legendary filmmaker Francis Ford Coppola—the man behind The Godfather—faced bankruptcy after the box-office failure of his latest film, Megalopolis. Coppola, who was born in 1939 and is now 85 years old, invested millions of his own money into the project, even borrowing funds to make his vision a reality. When the film didn’t succeed commercially, he was forced to sell personal assets—including his private watch collection, an island in Belize, and other holdings—to pay off his debts.

It reminded me of two principles I learned many years ago, before I entered the mortgage industry in 1983. Back then, I was vice president of a women’s high-fashion company, and there were two major rules everyone in the business understood:

1. If you want to make a million dollars, you have to invest two.
2. You are only as good as your new collection.

Those principles apply far beyond the fashion world. Take Sylvester Stallone, for example. After years of fame and success, he went through nearly a decade without major work. But in his 60s, he found new roles and a new chapter in his career. He, too, proved that you’re only as good as your next project—your next “collection.”

The same truth applies to our own industry. In the mortgage business, the last few years have been dry. Many of us have survived only by investing our own resources and staying the course. Now, finally, the market is beginning to open up again, and there’s light at the end of the tunnel.

As we advance in age and experience, it’s natural to ask questions—about investments, about the future, about what tomorrow will bring. But I’ve learned to hold on to one simple rule in life: Enjoy today. Be grateful for what is given.

As I like to say: “You’re as good as you are, because this is who you are. Enjoy it—and if you’d like to talk more, give me a call: (415) 225-7920.

Sometime heavy clouds are above our heads as you can see in the three images above. However, strong winds always blow them away!

 

PRESENTING NO-INCOME
COMMUNITY LOAN

Some homebuyers may not qualify for a conventional mortgage due to limited or unverifiable income—for example, those who are self-employed or recently started a new business. To help these borrowers, one of our lending partners offers a No-Income Community Loan.

KEY FEATURES:

• No income verification required
• Qualification is based on:
  • Credit score
  • Loan-to-value (LTV) ratio
  • Available reserves (savings)

Can be used for:

• • Primary residence purchases
  • Refinances
  • Second homes

• Loan amounts:Up to $2.5 million
• Maximum LTV:Up to 80%
• Minimum credit score:620
• Reserves required:
  • 9 months of reserves for most borrowers
  • 2 months if you’re a first-time homebuyer
• Interest rates: 8.75% – 9.25%
• Fees: 2.25 points (potentially tax-deductible)

This is considered a specialty or non-QM (non-qualified mortgage) loan. The higher interest rate and fees reflect the added risk to the lender. It’s intended for buyers with strong credit and savings but who lack traditional income documentation.

If you have any questions, don’t hesitate to reach out. I also invite you to check out my short YouTube video on the topic, posted earlier today.

NMLS #205637
DRE #00874630

 

 

TAKING TIME OFF

Working full-time means I’m in the office every day with my two assistants. By the end of the day, I can really feel the fatigue setting in. Don’t get me wrong — my work with people is rewarding, both financially and emotionally — but it can also start to feel like a routine.

I’ve been thinking for a while about how to step away from that rhythm, even just for a little while. I’m not talking about a full vacation, but more about finding a way to relax and not think about work during the day. Of course, weekends are usually spent with my wife and our little labradoodle Max, which I love, but that’s a different kind of busy.

Then the opportunity came along on Columbus Day, which fell on a Monday. My assistants had the day off, and after I dropped Max off at the dog sitter, I decided to do something just for myself. I went to the Botanical Garden in Golden Gate Park.

It turned out to be exactly what I needed. The hour I spent there felt like one long, peaceful breath. I wandered along quiet, hidden pathways, sat under a huge tree, watched a small lake covered in green algae, and took photos of unusual flowers. It was simple, but somehow deeply refreshing.

Time went by so quickly, and by the end I felt completely recharged. I’m already looking forward to the next holiday, when I can do something like that again. In the meantime, I’ll keep the memory — and the photos — as a reminder that sometimes an hour of peace is all it takes to feel human again.

Enjoy and Share!

ATTENTION FIRST-TIME HOMEBUYERS!

As interest rates begin to slide down, more and more people are exploring the dream of homeownership. If you haven’t owned a home in the past three years, you may qualify as a first-time homebuyer — and there are great programs available to help you get started.

Many first-time buyers, including young professionals in the high-tech industry or dual-income couples, face one major challenge: coming up with the down payment. The good news is that there are several down payment assistance programs available.

One such program is CalHFA (California Housing Finance Agency), which offers a first mortgage, plus a second loan and even a third loan to help cover closing costs.

Key highlights:

• Income limits apply— for example, in San Francisco, the limit is around $325,000.
• Some programs have 1% deferred interest, while others may offer forgivable loans.
• The goal is to make homeownership more accessible — but remember, the more you borrow, the higher your monthly payments may be.

If you’d like to explore which option best fits your needs and financial situation, I’d be happy to help.

I also invite you to click this link to watch my weekly video and share it with your colleagues, partners and friends who can benefit from my professional mortgage solutions.

Best wishes,

Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983

NMLS #205637
DRE #00874630

 

THE PUMPKIN STORY

The holiday we know as Halloween began over 2,000 years ago with the ancient Celtic festival of Samhain. You can find more fascinating information about it online. In the 1800s, Irish and Scottish immigrants brought their Halloween traditions to America. Today, Halloween combines ancient customs, folklore, and modern fun.

Have you ever wondered why the pumpkin is such a big part of Halloween? It all started in Ireland, where people once carved turnips into lanterns to scare away evil spirits. These were called Jack-o’-lanterns, inspired by the legend of Stingy Jack, a man doomed to wander the Earth with only a glowing coal inside a hollowed-out turnip.

When Irish immigrants came to America, they discovered that pumpkins were bigger, brighter, and easier to carve. The tradition quickly took root, and the pumpkin became the new face of Halloween.

Today, carving pumpkins is less about superstition and more about creativity and family fun, celebrating the beauty of the season—just like the pumpkins my camera picked up!

Enjoy and share!

The mortgage business is full of twists and turns — you never really know what can happen tomorrow. The industry changes constantly, and lenders who aren’t tightly bound to Fannie Mae or Freddie Mac underwriting guidelines often introduce new programs or creative updates to existing ones. These innovations help us find flexible mortgage solutions for our clients.

We learn about these opportunities not only through lenders’ emails but also during presentations from company representatives. Every week, a lender hosts a Zoom training for our team, and once a month we hold an in-person session that brings everyone together.

Last week, Roobina Ovanessian from LendingPros visited our office to share several new strategies and program “twists” that we can now offer to our clients. Click this link to watch a piece of Roobina’s presentation posted today on my YouTube channel.

Best wishes,

Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983

NMLS #205637
DRE #00874630

 

THINGS HAPPEN

Have you ever been at a tire shop at 7:15 in the morning? Well, I am here now.

Yesterday, a panel in my car showed that my rear left tire needed attention. I drove to the gas station to fill it with air, but I knew I’d have to visit my favorite tire shop, Rolling Stone, first thing in the morning. Online, I found out they open at 7:00, so I arrived 15 minutes early — only to find eight vehicles already ahead of me. I was told I’d have to wait at least an hour.

Fortunately, I brought my writing pad, so I could make good use of the time.

On my way there, I was listening on YouTube to a talk titled Things to Tell Yourself Every Morning. The second affirmation really struck me: “No matter what happens, do not get upset.” A good reminder — especially this morning.

Once my tire was fixed, I continued listening to the rest of the affirmations, which I’ll share with you later. Meanwhile, I kept writing notes for my upcoming book, How to Enjoy Comfortable Aging, where I explore various aspects of life we encounter as we advance in age. Many of these topics I also discuss every Monday on my channel on Telegram under the title Comfortable Aging with Manny Kagan.

Stay tuned to my weekly posts— and, for now, enjoy the three photos from the tire shop, which are quite self-explanatory.

 

… EVEN WITH UNCONVENTIONAL INCOME

Calculating income to qualify for a mortgage can be challenging since lenders typically rely on reported income — which isn’t always straightforward. Many clients have unconventional ways of being paid, and that income isn’t always reported to the IRS.

For example, some lenders can use 12 to 24 months of bank statements, significant account balances, or a profit and loss statement prepared by a tax professional for self-employed borrowers.

Recently, we learned about another innovative way to show income from Jas Pardiwalla, a representative of the lender NMSI. We’ve just closed two mortgages with them using their TVE Qualifying Program, and it’s proving to be an excellent option for many borrowers.

Please take a moment to watch the short video (by clicking this link) that explains how this program works.

If you have any questions, feel free to call me anytime: (415) 225-7920

Best wishes,

Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983

NMLS #205637
DRE #00874630