Would someone please tell me WHY people in Allentownare STILL renting when they could buy a home with close to 100% financing & a great rate?! WHY WOULD YOU STILL RENT?!! I JUST DON'T GET IT!!!
I like to laugh & I like to make people smile too. But sometimes when it comes to my internet marketing... well I can push the envelope quite a bit. So here are some ads that...well they got the REJECT stamp from my fiancee. I love them & think they're hilarious. But then again I know I'm pushing it a bit far. So here's the reject bin - tell me what you think!!
Don't sign another lease!!
You'll pay less money long term, own a home, save on taxes, it's a buyer's market, rates are great, you can buy with little down and the seller can pay the closing costs.
So renting is kind of like this dog...well you get the picture.
Because renting really is dumb! _________________________________________________________________________________________
Remember the last time you got screwed?!
It was when you signed a lease.
When you buy a home, you'll pay less money long term, own a home, save on taxes, it's a buyer's market, rates are great, you can buy with little down and the seller can pay the closing costs.
The guy in the back is your landlord. You're the patient. This isn't going to feel good. Kind of like renting.
When you buy, you'll pay less money, own a home, save on taxes, it's a buyer's market, rates are great, you can buy with little down and the seller can pay the closing costs.
When you buy, you'll pay less money, own a home, save on taxes, it's a buyer's market, rates are great, you can buy with little down & the seller can pay the closings costs!
So when you rent it's kind of like...well you get the picture.
84925358 rfs in lines such as My homey Dre is a doctor not a lawyer and Yo Ren get the gat show'em where it's at The single was featured with others such as Boyz-N-the-Hood Radio and Ruthless Villain to name a few The first line of the song is sung by (L for Love) which is watched by nearly 10 million people She is the winner of the popular TV show that achieved extraordinary careers throughout the 1990s Buducnost played in RAPAN cup twice in 1981 when they were first in their group and 1985 They also played in The stepped scheme at Home Place Holt designed by Professor E S Prior will be a counsel of perfection to most people Logie Awards of 1968 Award Bert Newton Logie Award Melbourne Television Perfect stub article Stub One remaining though symbolic legacy of Andorra's special relationship with France and Spain is the fact that the Principality still has no postal service of its own- French and Spanish postal services operate side by side although each issues separate stamps for Andorra instead of using their own He also wonders if the Adams family will be able to continue operating the Star At the moment no immediate relative has stepped forward to indicate a desire to keep the 140 year tradition alive
The other day I was working with my realtor & she asked me, "So are my clients pre-approved yet?" I told her no, they are pre-qualified & I'm waiting for their documents to get them pre-approved with my lender. And I started thinking to myself then, why am I working my butt off getting real pre-approvals? Why do I find myself over & over & over again explaining the difference between pre-approval & pre-qualification? Why? Why? Why?
I mean think about it. When I worked for Countrywide, no knock on Countrywide or the branch I worked for, but I didn't see not one person actually go over the underwriter & ask for a real preapproval. When I worked at the small broker shops, I NEVER saw anyone actually submit the deal to the lender before they had a contract. But everyone was told they were preapproved.
When it comes down to it, it is an unfair advantage if you are saying the deal is pre-approved when it really isn't. I mean let's face it, there are certain clients that are slam dunks. You the guy I'm talking about. The one with 800 credit scores, 50% down, on the job for 10 - 15 years & has no debt. But how about the rest of them? It takes considerably more time to get them pre-approved.
Well I'll continue to do it & continue to explain because you know what? I'll always have repeat business. I will ask something from every realtor who reads this post though. Please ask demand that your lender be honest & tell your clients the difference. In the long run it will help all of us to continue to have smooth on time closings!
Once your loan application is filled out and sent to the lender for review, the first thing they will look for is your ability to payback the loan you are requesting. My team and I have a streamlined loan process to help you get your ducks in a row prior to this review. A grand slam loan package is in perfect order and answers all the important questions up front. We know what the lenders are looking for, based on long-term relationships with them and extensive knowledge of guidelines for a multitude of loan programs that are available today.
What is the lender looking for when they review the loan application?
The lender wants to know about your personal financial picture, including savings and credit history and your employment stability. The co-borrower's history is also taken into consideration. The lender also considers the loan amount and appraised value of the home you are looking to purchase. Not every applicant is approved the first time through the process. If the underwriter has any questions or concerns, he or she will require certain conditions be met before they approve the loan. Pre-approval prior to house hunting lets you know exactly how much you are qualified to borrow in advance.
What can I do on my end to make it easier?
Before taking out a home loan it helps to establish a consistent record of paying your bills on time. If you have utility bills that are overdue, bring these up to date. Make sure you are paying credit card installments in a consistent and timely manner.
We can help you evaluate your debt-to-income ratio to determine what mortgage payment will be comfortable and affordable for you on a monthly basis. Aim for having enough savings to cover your down payment, closing costs if necessary, and two month's expenses in case of emergency. We'll help you find the loan program that works for you.
If I just started a new job six months ago, can I still apply for a loan?
A stable employment history is important, but the lender does take human factors into consideration. If you've recently completed college or vocational training, or were released from the military, you have good cause to have a lack of consistent work history. If your profession is seasonal, and gaps in employment are normal in your field, there are loan programs that can work with your situation. If you are a freelancer or do contract work, the lender will look for consistency in income over the last two years.
Consistency is the key word in the lender's mind. But know that lenders have developed many different loan structures to meet the needs of the general public. When your grandparents bought their first home, they probably put 50% down and made a lump sum payment when the note was due. Times have changed, and so have loan programs. My team and I stay on top of current mortgage trends. We monitor rates daily and have a support network of Realtors®, CPAs, Financial Planners and Credit Repair Consultants to lend you additional assistance.
Choosing the right lender is a key element to managing your mortgage. As a mortgage consultant, my goal is not just to provide you with a loan, but also to help select the one most beneficial to you and your long-term goals, and then, help you manage that debt over time. There are not many lenders out there who provide this type of personalized service.
My job is just beginning when your first loan closes. I will continuously monitor rates on your behalf, and stay in touch with you to make sure we remain on target with your financial goals.
Seek Pre-Approval
What's the difference between pre-qualification and pre-approval?
Pre-qualification is the starting point in your search for mortgage financing. A quick snapshot is taken which includes income, existing debt, savings, length of employment, etc. All of these factors will then be analyzed to determine your loan eligibility.
Pre-approval is written documentation that shows you have the support of a lender who is willing to finance you. It means an underwriter has reviewed your loan application. Based on your income, debt ratio and savings, the underwriter provides the dollar amount you are eligible to borrow. Now you can shop around for houses that fit into that loan amount category.
Here is the nice thing about the pre-approval: It gives you the leverage to shop as a cash buyer! With a pre-approval in hand, you now have the power to negotiate. The seller will take your offer much more seriously knowing you are already approved by a lender. Pre-approval can also shorten the time it takes to close, making even a lower bid attractive to sellers who are seeking to move quickly.
What will my monthly payments be?
The amount of your monthly payment depends on what loan program you choose. We like to provide our clients with an easy-to-read spreadsheet that narrows their choices down and compares different loan programs that meet both current and long-term goals. You will have the opportunity to select a program you feel comfortable with before you make an offer on a home.
What does it cost to get pre-approved?
Pre-approval is FREE! You have absolutely nothing to lose and everything to gain.
Give us a call to begin your pre-approval process. We have a network of Real Estate professionals ready to provide you with excellent service!
Points are up-front fees paid by the borrower to obtain a better interest rate on a loan. One point equals one percent of the loan amount. And while a lower interest rate may result in a lower monthly payment, it is important to consider how long you intend to be in the loan and to compare current interest rates to historical market trends. This will help you to determine whether paying points is a worthwhile investment.
Let's look at a sample scenario. If you take out a $300,000 mortgage and decide to pay one point in order to lower your interest rate, this would translate into an up-front cost of $3,000. To keep things simple, we'll assume that paying this one point will save you $50 a month. This means it will take you 60 months to recoup the cost of that point. If you decide to refinance or sell the home before the 60-month mark, your money is lost - not to mention the opportunity cost of not having this money invested elsewhere. In this scenario, you would only benefit financially from paying points if you were to remain in the home for no less than 60 months.
It's also important to remember that interest rates run in cycles. When rates are at historical lows, it makes more sense to pay points if you plan to live in the home for an extended period of time. If it's unlikely that rates will go down in the near future, then there will be no need to refinance.
When interest rates are high, however, there is a strong likelihood that they will come down again before too long. Therefore, this is not a good time to pay points. The chances of refinancing in the near future are extremely high, and you will likely not be in the loan long enough to recoup the up-front cost of the points.
Tax deductibility is another thing to consider when choosing whether or not to pay points. For new purchases, interest from both points paid and your mortgage are tax deductible up front. For refinances, however, points are not deductible up front. Instead the deductions are spread out over the term of the loan (unless the entire loan is paid off early), making points more costly in comparison.
Ultimately, there's a lot to consider when it comes to points and whether or not they are a worthwhile investment. An experienced mortgage professional will work with you to determine the best course of action based upon your specific situation. Request a comprehensive cost comparison to see whether paying points could be financially beneficial to you.
If you or someone you know would like to learn more about points and whether they should be a part of your mortgage plan, give me a call. I would be happy to assist you!
When it comes to mortgage loans and interest rates, it's never a good idea to gamble. That's why I typically advise my clients to lock in an interest rate at the earliest opportunity. This is just one step of the standardized system we have put in place to ensure the best possible loan experience for each borrower that we work with.
A mortgage loan cannot be closed without a locked-in rate, and there are three main elements to take into consideration:
Interest Rate
Points or fees
Length of the lock
Locking in a rate does not obligate the borrower to commit to the loan until the loan is actually closed. The lock is merely a security measure designed to eliminate the risk of market volatility throughout the duration of the purchase or refinance transaction. As long as the loan is approved and funded before the end of the lock period, the borrower will receive the interest rate quoted.
When a lender permits an extended lock-in period, the borrower will likely face a higher interest rate or additional fees that could be quoted as points. In other words, the borrower pays for the lender to take on the extended risk of being exposed to potential changes in the market.
For example, let's say a 30-day rate lock commitment costs the borrower one-half point, while a 60-day rate lock commitment costs one full point. If the borrower in this scenario needed the extended lock period, but did not want to pay points, then an alternative would be to accept a slightly higher interest rate. In this case, a 60-day lock would typically have a higher interest rate than a 30-day lock.
Our standard procedure is to lock in a rate as quickly as possible. My team and I want our clients to know that while interest rates fluctuate daily, most lenders do not want to lose any business because of it. If a significant rally causes interest rates to drop 0.25% or more, we know that we can most likely renegotiate the rate. In many cases, lenders prefer this option over losing the loan to another lender. On the other hand, if we'd allowed our clients to sit on the fence and not lock in their rate, we would have exposed them to market volatility without a safety net. Then, if rates were to increase, the borrower might no longer qualify for the loan they want - a situation that we want to avoid at all costs.
By knowing our clients' needs and working intimately with them to make the right decisions early on, my team and I are proud to say that we have helped them to achieve their home ownership dreams.
If you'd like to learn more about the loan programs we have available, please call me!
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The other day I was working with my realtor & she asked me, "So are my clients pre-approved yet?" I told her no, they are pre-qualified & I'm waiting for their documents to get them pre-approved with my lender. And I started thinking to myself then, why am I working my butt off getting real pre-approvals? Why do I find myself over & over & over again explaining the difference between pre-approval & pre-qualification? Why? Why? Why?
Once your loan application is filled out and sent to the lender for review, the first thing they will look for is your ability to payback the loan you are requesting. My team and I have a streamlined loan process to help you get your ducks in a row prior to this review. A grand slam loan package is in perfect order and answers all the important questions up front. We know what the lenders are looking for, based on long-term relationships with them and extensive knowledge of guidelines for a multitude of loan programs that are available today.
The Benefits of a Professional Consultant
Points are up-front fees paid by the borrower to obtain a better interest rate on a loan. One point equals one percent of the loan amount. And while a lower interest rate may result in a lower monthly payment, it is important to consider how long you intend to be in the loan and to compare current interest rates to historical market trends. This will help you to determine whether paying points is a worthwhile investment. 
