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Contact Information


LINDA BANALES
REALTOR, NRBA
REO & Short Sale Specialist

RE/MAX MAGIC Real Estate
201 New Stine Rd, Ste 300
Bakersfield CA  93309
OffIce: 661-617-4407

RE/MAX MAGIC CENTRAL COAST
860 Price Street
Pismo Beach CA  93449
Mobile: 805-295-0410
Email: lindabanales@yahoo.com
 

Testimonials

Working with Linda was great. She was able to work around my bizzy schedule and provide me with quick, accurate information in laymans terms. The house close on the date she had said, so we had a smooth move for our old house to our new one. I am going to get the rest of my investment properties with her as well. November 17, 2009 Top qualities: Expert, On Time, High Integrity George Diaz hired LINDA in 2006, and hired him/her more than once George Diaz
"I had the chance to work with Linda Banales a while ago, she as the listing agent and I as the selling agent, it was a pleasure to work with her, she did her part of the job on time, sent me disclosures and everything necessary to close without delay. I definitely recommend Linda Banales for her professionalism. It would be a pleasure to be able to work with her in the future!!" Sandra Dominquez, REALTOR
It was a pleasure working with you and your team! The way you guys process everything is awesome. makes it so easy to process everything... My file has been ready since forever all the disclosures are there...you guys are just great! Hope to work with you guys in the future. Thank you, Alma Prado, Transaction Coordinator
"Linda is a great Realtor, very professional in all her dealing with clients and other professionals in the field. Always responsive to the needs of others, she is great in anticipating what needs to be done and is always on top of each transaction through to the close of escrow." Phil Brown, REALTOR
"LINDA IS GREAT SHE WILL GET THE RESULTS YOU ARE LOOKING FOR" Ben Atwood, Contractor
"Linda has responded to our particular needs in a prompt and professional manner. When we purchased our first home in Bakersfield, we lived outside the area and depended on her referrals and recommendations. We were never disappointed with her choices. I would highly recommend Linda Banales for real estate purchases. She is a long-time resident and knows the communities within the city exceptionally well." Service Category: Real Estate Agent Year first hired: 2003 (hired more than once) Top Qualities: Great Results, Expert, High Integrity Linda LeBron, Homeowner
"Linda is a very knowledgeable, experienced and hardworking realtor. She is focused on staying educated and learning the best techniques to help her clients. Linda really cares about her clients and goes above and beyond for them." Tisha Borda, iMortgage Sales Manger
"Linda has always been a great customer of Primetime Signs, Inc. She has been a Real Estate Agent for a long time and that to me shows dedication to serve her clients. We see agents come and go all the time and she has evolved to serve her clients in all kinds of markets." David Whisler, Owner, PrimeTime Signs
"Linda is a very detailed and custome service driven professional. I have had the privilge to have known Linda professionally for over 7 years. Linda would be a great asset for any company or organizaton." David Rodriquez, Loan Officer
"Linda is a wonderfull Boss and the Best Realtor I know. She is always 10 steps ahead of the game and sets treads for other Realtors. She will never stop her real estate Education and always moves towards the next best thing. Her number one priority is being the best Realtor!" Monique Banales, Transaction Coordinator
"Linda and I have had multiple transactions together. Linda and her team are always on the top of their game, if we are in a pinch and need assistance, Linda is right there to help out. She will go above and beyond the call of duty. I would recommend Linda and her staff to anyone that is in the Real Estate market." James Lough, Escrow Officer, Glen Oaks Escrow
"Linda is an experienced and educated Realtor who can be counted on to provide her clients with consistent personal and professional service." Pat Jelletich, Manager, Wells Fargo
"I have known, Linda, for a number of years. She has always been very dedicated to her business and a pleasure to be assocated with her. Charlie Rosas" Charlie Rosas, REALTOR
"Linda is very detail oriented, and on the ball with any of her properties. She will give you good up to date information, and try to get help you get the escrow closed. It is a pleasure working with her or any member of her team. I look forward to doing business with her." Juanita Brooks, Realtor
"You are awesome to work alongside Miss Linda! Keep the awesome work going! Look forward to working with you soon! :)" Jessie Barajas, REALTOR
"We have had the pleasure of doing business with Linda for several years and have found her to always be professional, curteous and honest which are qualitites we admire." 2009 TMC Pest Control
It's simple...Linda is AWESOME! She's absolutely, 100% dedicated to Real Estate. She is constantly finiding new ways to expand her expertise and to better serve YOU. There could not be a better, more dedicated, honest, and helpful professional in the business. Real Estate is not just a job to Linda-It is a career and a passion. She has established longevity in Real Estate, no matter the market. If there's a way, she will find it. If it can be done, she will do it." Raquel B
"I was in a working relationship with Linda from May 2007 to present, we are both REO agents in Bakersfield that are servicing some of the same accounts for asset mangagment companies. We just returned from the 5 star convention for REO servicing in Fortworth Texas. Linda's team is well seasoned in the REO world having sold many non-preforming bank owned assets. She is experience in all facet of the REO world. Run Sullivan, Distress Property Specialist
"I have just recently began a working relationship with Linda. In all of the dealings that I have had with her, Linda's professionalism has been very impressive." Henry Esparza, Loan Officer, iMortgage
"Linda Helped me buy my first home about 6 years ago. I was really surprised at how attentitive and thorough she was at getting me into the first home. She walked me through the proccess, and even sat down and went over the paper work. I really have to say that the service was exceptional becuase she drove some 250 miles north of Bakersfield to Stockton, Ca to help me get into my first home." Richard Valenzuela,Homeowner

Adjustable Rate Mortgages - The Basics

An adjustable rate mortgage (ARM) has an interest rate that fluctuates periodically. This is in contrast to a fixed rate mortgage, which always has the same interest rate.

Every ARM has basic components:

  1. An index
  2. A margin
  3. Adjustment Period
  4. An interest rate cap
  5. An initial interest rate

The Index

An ARM’s interest rate is tied to one of many economic indices, some examples of which are the 1-year constant maturity Treasury security, the Cost of Funds Index, or the London Interbank Offered Rate. Different indices move at different rates so know the characteristics of the index used for your ARM.

The Margin

The interest rate for your ARM will be calculated by adding a margin to the interest rate from the index. The margin is basically the markup charged by the lender that allows them to make a profit off of your loan, such as adding 2% to the index, where the 2% is the margin. The margin of your loan usually does not fluctuate.

The Adjustment Period

The Adjustment Period controls when and how often your interest rate changes. For example, if your ARM has an adjustment period of 1 year, your interest rate will be subject to change at the end of each year and your monthly mortgage payment will be recalculated to reflect this change.

The Interest Rate Cap

Interest rate caps are built into the loan to protect the borrower from drastic interest rate fluctuations. The caps limit how much the interest rate or monthly payment can change at the end of each adjustment period. An ARM can also have a cap for the life of the loan. For example, during the life of a loan, the interest rate can only be increased by 5%.

The Initial Interest Rate

The Initial Interest Rate is the interest rate that you start with at the beginning of your loan period. The length of time your loan stays at this rate is built into the loan. For example, you may stay at the initial interest rate for 1 year, 5 years, or another length of time depending on your specific mortgage. This type of ARM is generally referred to as a Hybrid ARM. The initial interest rate for an adjustable rate mortgage is generally lower than that of a fixed rate mortgage.