Into the Void — Discovering Ma
in Everyday Life

Recently, I received a thoughtful gift from a friend — a magazine titled Breathe: The Power of Less – A Guide to Letting Go, Embrace the Stillness, Find What Matters. One of the stories inside, “Into the Void: Exploring the Benefits and Beauty of Empty Space,” explored the meaning of the Japanese word Ma.

Ma conveys the concept of empty space — the pause between things — and its deep relationship to all aspects of life. Reading it brought to mind the words of Dr. Deepak Chopra, who once said that “the only reason we can read is because there is space between the letters.”

The next day, I was in my office on a very full and demanding day — working on three purchases and one refinance — when I began receiving calls from a new client looking for properties to buy. Around one o’clock, I felt the need to take a break. That’s when I remembered the concept of Ma.

I decided to step away. I drove to Pacifica, about fifteen minutes south, to my favorite café, Soul Grind. I ordered my favorite Bali Salad, and while eating, I found myself in a light conversation with a stranger. Afterwards, I went to the nearby beach — a favorite spot for surfers — and filled my lungs with the fresh ocean air.

When I returned to my car, I felt renewed, calm, and ready to get back to work. On the drive back to the office, a client called to get preapproved for a mortgage. With interest rates coming down, I expect we’ll soon be busier with refinancing — but I will always remember and practice the value of Ma: the empty space that gives meaning, rhythm, and peace to everything around it.

The three images you can see inside my story capture moments from this experience.

Care and Share!

REJOICING OF THE TORAH

The holiday of Simchat Torah (Rejoicing of the Torah) celebrates the start of a new year of scripture readings.

Jewish study of the scriptures, or Torah, is structured as a yearly cycle. This holiday marks the end of the past year´s cycle of Torah readings and the start of a new one. In general, Simchat Torah is considered a part of the Shemini Atzeret holiday, which follows Sukkot.

Simchat Torah is celebrated on the twenty-third day of the month of Tishrei in the Hebrew calendar, which usually falls between late September and early October in the Gregorian calendar.

During Simchat Torah services, the ark containing the holy scriptures is opened and the Torah scrolls are taken out to be carried around the sanctuary seven times in circuits known as hakafot. The worshipers dance and sing in celebration as the scrolls are borne around the synagogue.

While Simchat Torah is not a public holiday in the United States, many Jewish-run organizations are closed on this date.

Please click this link to watch and listen to my brief Simchat Torah Greetings addressing my friends, clients and partners.

Chag Sameach!

DOGS IN SAN FRANCISCO

I decided to write this story after reading an article in The Wall Street Journal titled “America’s Most Dog-Friendly City Has Had Enough.” It described how dogs in San Francisco are misbehaving in public spaces.

It reminded me of when we got our Labrador, Max, eight years ago from his breeder in Monterey. From the very first day, I started recording my experiences with him. I also borrowed 21 “how-to” books from the public library to learn what to do in any given situation.

This journey of learning and discovery led me to publish my book, 42 Encounters with Dog Lovers, where I shared my everyday experiences and the lessons I learned from those books. We had dogs before, but we never really made an effort to learn how to train them properly.

This time, not only did I read everything I could, but we also took Max to obedience school.

As a result, Max became a wonderful, well-behaved dog. He listens to my commands and responds to situations calmly and thoughtfully — without causing problems.

San Francisco truly is a city for dog lovers. There are so many open spaces where dogs can run free without a leash. One of our favorite spots is Fort Funston, where we love to walk along the trail by the ocean. And this is where I took three images of dogs.

If you ever have any issues with your own companion, please feel free to reach out to me — I might be able to help. If you’re my client ( or would like to become one), please request the book as a gift from me.

The best way to contact me is to just call me directly at (415) 225-7920.

With warm regards,

Your friend

ONLY THOSE WHO WORK
MAKE MISTAKES

There’s an old saying: “Only those who don’t work don’t make mistakes.” I was reminded of that recently — and it proved to be a valuable lesson.

Last week, I was assisting a client purchasing a condominium for $3.5 million with a loan amount of $2.5 million. Their income was verified through 12 months of bank statements, and the down payment — partly a gift from the client’s grandfather — was properly documented. Everything seemed to be on track.

However, I overlooked one important detail: reserves.

Reserves are the funds a borrower must have available after closing — often held in retirement or investment accounts — to cover future mortgage payments. Depending on the lender, this requirement may range from three to twelve months of total housing expenses (principal, interest, taxes, insurance, and HOA dues).

In this case, the client did not have the required reserves, and as a result, the loan could not be approved. The borrower eventually found another lender offering a different program that suited their situation.

This experience served as a strong reminder: no matter how long you’ve been in the business, attention to every detail matters. I’ve since added new internal checks to ensure that the reserve requirement is reviewed early in the process for all jumbo and non-QM loans.

Mistakes are part of professional growth. The key is to learn from them and make sure they don’t happen again.

If you have questions about financing, jumbo loans, or alternative income documentation, feel free to reach out — I’m always glad to share my experience and insights.

Meanwhile, if you want to continue this discussion, you are welcome to watch my YouTube video by clicking this link.

Best wishes,

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

NMLS #205637
DRE #00874630

 

IN THE SOUL OF THE BEHOLDER

You’ve probably heard the phrase “beauty is in the eye of the beholder.” But last Sunday, I realized—it may also be “in the soul of the beholder.”

That day, I was walking through my neighborhood with a friend. We often discuss the Torah together, and sometimes our views on life couldn’t be more different. For example, he sees a human being as nothing more than a biological machine with a brain. So, I asked him, “If the brain controls everything, where do feelings like love come from?” He didn’t have a clear answer.

After all, the Torah teaches: “Hashem God formed the man of dust from the ground and breathed into his nostrils the soul of life, and man became a living being” (Genesis 2:7).

During our walk, I paused to photograph some roses. My friend asked, “Don’t you already have enough pictures of roses?” I smiled and replied, “I’m not photographing flowers. I’m capturing beauty.”

For me, beauty is not only something I see—it’s something I feel with my soul. And just as important, it’s something I can share—with friends, with strangers, with anyone who needs a gentle reminder that life is more than what meets the eye.

So here are a few roses from one and the same bush. Enjoy them. Care for beauty wherever you find it. And share it generously.

TONIGHT BEGINS YOM KIPPUR, THE DAY OF ATONEMENT

While it’s part of the Jewish tradition, I believe its meaning is universal—this is a time when God looks at all of humanity with love and judgment.

For the next 25 hours, it’s a time of reflection, forgiveness, and renewal. From my heart, I ask your forgiveness if I have ever said or done anything that hurt you, whether I meant to or not. And I want you to know that I forgive you as well.

May we all be written in the Book of Life, and may the coming year bring peace, health, and kindness.

Click here to watch my  brief video message addressing my friends, clients and social media followers.

WHY FAST?

Lately, while exploring different approaches to healthy living as I age, I came across the idea of intermittent fasting. It means choosing certain hours when you eat—or sometimes just one meal a day.

Many studies praise its benefits: lowering blood sugar, reducing weight, lowering blood pressure, calming inflammation, even supporting mental clarity. It sounded appealing, but I also reminded myself that before trying something new, it’s wise to consult a medical professional.

Still, fasting is not only about health. Next week, on Wednesday evening, Yom Kippur begins—the Jewish Day of Atonement. For me, this is always one of the most meaningful times of the year.

Tradition calls for a complete fast, no food or drink, for 25 hours. The body may feel the strain, but the purpose is to lift the soul: to reflect, to ask for forgiveness, and to deepen the connection with God.

One of the challenges, though, is staying awake and alert through long hours of prayer. Thankfully, there’s a short two-hour break. I usually take this time to walk in Golden Gate Park. I breathe fresh air and let my thoughts settle. In the lake I noticed many birds—each busy with its own life, yet somehow reminding me of freedom and renewal.

During my previous visits (not on Yom Kippur)I took three photos, which I’m sharing here. They help me remember that fasting, whether for health or for spirit, is also a way of pausing—to look, to listen, and to find meaning.

Before start of Yom Kippur the common greeting is G’mar Chatima Tovah which means A Good Final Sealing. This is what I wish you.

MORTGAGE RATES JUST FELL
TO A THREE-YEAR LOW

This headline recently appeared in Money Watch. What’s remarkable is that it happened before the Federal Reserve lowered its benchmark rate by a quarter percent.

As soon as the news broke, a number of my clients called to ask if now is a good time to refinance. For many, the answer is yes—especially if you have a large loan balance.

Just last week, I refinanced a client’s loan of over $1 million, reducing their rate from 7.125% to 6.5%, with no out-of-pocket costs. This lowered their monthly payment by about $400. If rates drop again in the next six months, we’ll consider refinancing once more to capture even more savings.

Of course, mortgage rates don’t move only because of the Fed. They’re influenced by broader market forces such as the 10-year Treasury yield, mortgage-backed securities (MBS), and inflation.

While no one can predict with certainty, I believe rates may continue to trend lower—which could improve cash flow for homeowners and help more buyers qualify for financing.

In the meantime, if your mortgage rate is above 7%, give me a call. I may be able to help you bring it down: (415) 225-7920.

Best wishes,

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

NMLS #205637
DRE #00874630

 

SHANAH TOVAH U’METUKA: HAPPY 5786!

According to  Jewish calendar  on the evening of September 22, the holiday of Rosh Hashanah begins, ushering in the year 5786. Tradition tells us this is the birthday of Adam, the first human, and with him, the creation of Eve.

Perhaps that is why the holiday lasts two days, ending on September 24—because it is not only about one person, but about the beginning of life, the unfolding of all creation.

Ten days later comes Yom Kippur, the Day of Atonement, a time when one cycle ends and another begins—a chance to look back, to reflect, and then to step forward renewed.

During Rosh Hashanah, families gather at the table and dip apple slices into honey, a small but powerful act that says: may the coming year be sweet. The Hebrew greeting Shanah Tovah U’Metuka carries that same wish—a good and sweet year.

And so, when families join together around a table filled with holiday prayers and songs, we celebrate life. We share, we care, we pass the sweetness around. These are the moments that give rhythm and meaning to our days—and this is exactly what I wish for you: a good and sweet year, filled with joy, renewal, and love.

Three images of apples illustrating this story serve as the reminder of the beauty in our world.

Shanah Tovah U’Metuka!

REVISITING THE TOPIC

Not too long ago, I touched on this important question in my social media posts, and I’d like to dive a little deeper today. Many of my clients have been able to buy properties even with very little money for a down payment—and I want to share some insights that could help you too.

That is possible thanks to a variety of down payment assistance programs available on the market. These programs usually consist of two parts:

• The first mortgage, which typically covers 95–97% of the home’s value.
• The remaining amount, which can come from different assistance sources, each with its own terms.

However, there’s a trade-off: because of the assistance, the interest rate on the first mortgage is often higher. This means a higher required income to qualify. In addition, many of these programs have income limits that can affect eligibility.

Recently, during a recent presentation at our office, Lynn Jackson from Plaza Mortgage discussed how FHA loans can offer 100% financing. Click this link to see a piece of Lynn’s presentation. While that sounds appealing, these loans also come with higher mortgage insurance premiums.

That’s why I often suggest another option: using a gift for the down payment. With as little as 5% down, buyers can qualify for first-time homebuyer programs that often carry lower interest rates compared to down payment assistance loans.

And here’s the key: interest rates are expected to come down. When that happens, we’ll likely see another buying frenzy.

Don’t wait—call me today, and let’s structure your transaction the smart way.

Best wishes,

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

(415) 225-7920

NMLS #205637
DRE #00874630