Save a bundle on the cost of your home mortgage

Education & Training with Realty Group Referrals 16766

Save a bundle on the cost of your home mortgage

When you are considering the purchase of a new home, a trusted loan officer is one of the people that you will want to have on your team.  Our office, RE/MAX Realty Group, in Gaithersburg, Maryland, has an affinity relationship with Presidential Bank Mortgage and the manager, Joe Salisbury.

This arrangement provides a trusted resource for mortgage financing for over one hundred real estate professionals in our office.  We have used Joe Salisbury as a loan officer for many years and highly recommend his services.

For those that plan to use mortgage financing to fund the purchase of a residence, one of the first steps is to obtain a pre-approval letter from a reliable mortgage lender.  Underwriting guidelines are strict in the current market and it is very important to know that financing is available and to know which mortgage product will best meet the needs of the borrowers.

A simple way to save a bundle on your mortgage is to select a shorter mortgage term.  The most common mortgage term is 30 years.  If you change the term to 15 years, you will save thousands of dollars in interest and have an earlier pay off of your mortgage obligations.

Recent rate quotes from Joe Salisbury will give you a good comparison of the cost.  3.875% was the interest rate quote for 30 year fixed rate financing, with no points, for 95% loan to value financing to $417,000.  This is a wonderful rate and reflects the current record low mortgage interest rates.  However, the interest rate for the same product was 3.125% for 15 year fixed rate financing. 

If you can handle the larger monthly payment, we recommend serious consideration of a shorter mortgage term.  For advice on the most suitable mortgage product for the needs of your family, schedule an appointment with our good friend Joe Salisbury at Presidential Bank Mortgage.  Call Joe at 301-590-8911 ext. 209 or email

Joe Salisbury, Loan Officer

Azaleas, Kentlands, Spring Flowers IMG_9461 A

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates


Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.


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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Roy, those who deal with buyers need a good loan officer on their team. It can save you valuable time and avoid unnecessary frustration. Enjoy your day!

Jun 02, 2012 09:50 PM #1
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro
Roy, A trusted loan officer can make all the difference in the world! Relationships are what drive our business...thanks for posting! Have a great Sunday, Rob
Jun 02, 2012 09:58 PM #2
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

Good advice, Roy. Knowing your customers are getting service and advice from someone who is trusted is a nice feeling.  It is one key step toward a smooth closing.

Jun 02, 2012 10:06 PM #3
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Roy, you are right about how to save money on the Mortgage. Shortening the duration makes a lot of sense. A 15 year Mortgage really looks good at year 10. Only five more years to go compared to 20 more if you are into a 30 year Mortgage. It sounds like you have an excellent relationship with your Mortgage Loan Officer.

Jun 02, 2012 10:08 PM #4
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Good morning to all.  I always appreciate your comments.  We always advise prospective home buyers to get pre-approved for financing before they look at any homes.  Knowing any price limit, the type of financing, and the costs of financing allows for the immediate decisions that are needed in the current competitive market.

Rose, Kentlands, Spring Flowers IMG_9438

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Jun 02, 2012 11:21 PM #5
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Good Morning Roy, You sure said it. Having a trusted and local loan officer who can assist you through the mortgage process saves both time and money. Saving money and getting great service is a must. Have a great Sunday

Jun 03, 2012 12:02 AM #6
Yolanda Cordova-Gilbert
David Weekley Homes - Katy, TX
David Weekley Homes in Towne Lake 70's


             Those are great rates and they will not stay low for long there is talk of rising rates to 5-6% in the next 12-24 months so the time to buy is NOW!

Jun 03, 2012 01:06 AM #7
Cheryl Thomson, REALTOR, U.S Army-Veteran
Jobin Realty (703.216.5635) - Woodbridge, VA
Real Estate in Northern Virginia

A loan officer you can trust...You certainly have to do your homework on this...shorter mortgages save money in the long run, but only IF you can afford the larger monthly payments.  Good info Roy.

Jun 03, 2012 03:10 AM #8
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Roy,  The right mortgage company makes all the difference.  Sometimes national banks aren't the best way to go, let me tell you.  We have had so much trouble when the buyer insists on using a national bank with the initials W.F.  We always try to encourage our buyers to get multiple quotes and refer multiple lenders whenever we can.

Jun 03, 2012 04:09 AM #9
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for stopping by.  June is a wonderful time for home buyers to take advantage of the attractive prices and record low mortgage interest rates.  Getting pre-approved for mortgage financing is one of the first steps in the process.

Jun 03, 2012 06:44 AM #10
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Roy: It is great to have members on the team that can be trusted...good to see your office has a partnership with a quality loan officer.

Jun 03, 2012 08:38 PM #11
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