Melissa's Blog

1..2..3.. Pre-Approval Made Easy!

Melissa Falcone (Allied Home Mortgage Capital Corporation) — Mon, 05 May 2008 17:15:59 -0500

Pre-qualifying for a mortgage allows you to visualize the monthly payment and costs incurred with home buying. It's during this process that a loan program is chosen to best fit your needs. How do you begin this pre-approval process? Simple, with one stress-free phone call. To help you even further, I have created a simple steps to guide you through the pre-approval process. Below you will find an example of the pre-approval process as well as the length of time it takes to complete this process.

1. I speak with prospective buyers and obtain basic information in order to pull credit. (Approximatley 10 minutes)

2. With the information provided, I match you with an appropriate loan program and obtain a pre-approval. (Approximatley 24-48hrs)

3. Contact you to discuss the results, recommendations, monthly payments and closing cost estimates. At this time i will also provide options to lower your monthly payment if available. (Minimum of 20 minutes)

Oh, did I mention the pre-approval process is FREE? There is no application fee, no obligation, and no hassel. Providing you with knowledge of your mortgage, the best rates, and the lowest closing costs, are my goals. Just these three little steps can have you on your way to home-buying!

Please don't hestiate to contact me with any questions you may have on the process. I'm here to help you.

Respectfully,

Melissa Falcone , Mortgage Consultant

"I'm here to achieve a smooth home-buying process for you!"

Prevent the Threat of Loan Denial!

Melissa Falcone (Allied Home Mortgage Capital Corporation) — Thu, 31 Jan 2008 15:13:28 -0600

It would be depressing for any buyer to see a picture like the one above.

It brings me pleasure to share with you what I provide to my clients. I provide this information to you after you are pre-approved for a mortgage and begin looking for a home. It's important you are aware of any threatening items that may possibly cause the denial of your home loan. Please take a moment to read through.

In order for me to help you, it is in your best interest to view the following helpful do's and don'ts:

Do..

•1. Do purchase home owners insurance for a new purchase.

•2. Do make sure you are paid current on all loans.

•3. Do make sure the settlement money is in your bank account.

•4. If self-employed or we are not verifying your income, please make sure your accountant is a CPA and available to confirm validity of your business.

•5. Dokeep copies of your pay-stubs.

Don't..

•1. Don't change jobs or quit your present job during the loan process.

•2. Don't apply for credit cards, loans, or make large purchases during the entire loan process, as this may affect your credit score.

•3. Don't make any large deposits into your bank accounts during the entire loan process.

•4. Don't hesitate to ask me any questions, whether it's via phone, fax or e-mail.

Working together towards one goal!

Big Girls Don't Cry Over the Interest Rates Rising this Afternoon!

Melissa Falcone (Allied Home Mortgage Capital Corporation) — Wed, 23 Jan 2008 16:07:40 -0600

Now, now, don't cry. Yes, the interest rates seemed to have darted upward this afternoon. Some lenders sent e-mails notifying of price changes not once, not twice, but four times!! However, although the interest rates took a swing upward, let's ride this wave out. It's normal to have a ripple effect, especially right now. I anticipate the the rates will lay back down. Now dry those eyes and see what next week brings us!

Interest Rates are Appetizing!

Melissa Falcone (Allied Home Mortgage Capital Corporation) — Tue, 22 Jan 2008 15:48:45 -0600

Grab a fork and dig in ladies and gentlemen! Interest rates are quite appetizing. According to today's mortgage interest rates, I'm able to obtain interest rates in low 5%'s for a 30-year fixed! For those of you who have interest rates around 6.25 +, or if you want to shorten your mortgage term, consolidate loans, or take cash-out to fix your home, you may want to consider refinancing through me. Those of you who are considering purchasing a home, contact me immediately for a free pre-qualification.

It only takes one phone call to me to potentially save you a deal of money per month!

CONTACT ME TODAY!

Prevent Home-buying Nightmares by Using the TEAM Concept.

Melissa Falcone (Allied Home Mortgage Capital Corporation) — Mon, 21 Jan 2008 20:18:26 -0600

Picture this...

It's the week before you're scheduled to close on the home of your dreams. As you're packing boxes, the phone rings. It's your loan officer, hostile, because they still haven't received from you a document the underwriter had requested. If that paper is not received today your closing will be delayed. Your call-waiting buzzes in, your realtor is calling because your title search was never ordered. Your insurance agent is calling your cell phone because your "dream home" is located in a flood zone and your insurance will now be double. You drop the phone, start running in circles, panic-stricken with all warm, fuzzy thoughts of your new home going down your throat along with the Pepto-Bismol you just chugged.

Okay, now you can wake up. It was only a nightmare.

Experiences like these happen to individuals who are not choosing the proper professionals to handle their life event. You choose your team members, (Realtor, loan officer, insurance agent, etc.), because they are reputable and trust worthy. My question to you is, are they and will they work as a team for you?

The key to a superb home-buying experience is having team members that work for you and work together like a well-oiled machine. The ultimate goal is for the customer to enjoy a smooth process, and happy-ending closing. Why? Our largest clientele is simply based upon referrals! We like to keep our clients for life. If you had work done on your car, and the mechanic did a terrible job while raking you over the coals for your money, would you refer them to your friends and family? Absolutely not. Same concept with your realtor, insurance agent, title company and loan officer. It only takes one break in the line of communication to cease the working engine. When the engine fails, so does the home-buying process and so end the referrals, thus ceasing any future relationships.

Make key choices on choosing your professionals. Ask friends and family, or ask co-workers. Call these professionals, ask to see testimonials and ask for references. Every single choice of professional is yours. Your realtor should be working for you and in your best interests. Your loan officer should be concentrating on your goals and needs and match it with a suitable mortgage. This loan officer should be notifying your realtor of the loan amount you are comfortable with and guide you towards homes in that prices range. You should never be swayed into buying a home you cannot afford by anyone. I always tell my clients, "you have to be comfortable with your monthly mortgage payments as I will not be paying your mortgage, nor anyone else." Then you should be choosing a title company who is reputable and efficient, and insurance agent with knowledge and who will assist your needs. All of your choices should be communicated immediately to your realtor and loan officer so there is no confusion. Please don't forget, you as the client must also communicate and provide your professionals with the information they need, or that too could pose problems.

In the end, if you have a great team of professionals, working for you, communicating with each other, and most of all, the client, you're sure to have a smooth home-buying transaction.

Realtors: Get Off the Bench and Get in the Game! Offer FHA Loans to Your Clients.

Melissa Falcone (Allied Home Mortgage Capital Corporation) — Thu, 17 Jan 2008 14:37:29 -0600

Yes, I am a screaming fan of FHA and VA loans!

This past year, pre-qualifying your buyer has become even more difficult. What I can't quite understand is why realtor's are not offering the opportunity for their clients to pre-qualify for FHA loans? Are they still under the impression the FHA guidelines are strict? Possibly. Perhaps its because their loan officers are not licensed to process FHA loans? And the buzzer rings!

As we all know, one of the biggest strategies of the game is having the proper tools, or programs available to your client. These government-backed loans benefit your client!. My favorite highlights are sellers concession up to 6% of the sales price, allowing gift funds, obtaining "A" credit interest rates even if you're not an "A" borrower, flexible qualifying ratios and underwriting guidelines. Did I mention no pre-payment penalty and the Mortgage Insurance is tax deductible as of 1/01/07? Did you know that if your buyer is looking for a lower monthly payment, FHA is the way to go? Did you know they allow non-occupying co-borrowers on the loan? Well, now you do!