Past 10 Clients - Looking for Referrals for New Clients
Current mood: adventurous
Category: Jobs, Work, Careers

Recently, I realized that sometimes I need to tell a story about how I was able to help a client for other people to have a "light  bulb moment" and think of other people to refer to me.  In that vein, I'd like to share some brief details of my last 10 clients, and maybe that will help you think of some people you could refer to me, as I am currently seeking new clients.

If you have any questions, please do not hesitate to contact me at; http://www.HomeLoansAlbuquerque.com, or (505) 259-6397 direct.  My email is; melinda@trinitymtg.biz.  I am as ever, Melinda Potcher, Mortgage Maven.

Past 10 Clients (randomized to protect their info);

**  He had an investment property & wanted to do a cash out refi so he can buy another piece of property.  He has a high 700's credit score, over 2 years on the job, money in the bank and a low ltv.  He owns other rental properties and his ratios come out to 40% on the back even w/ the mortgage debts & rental incomes.  I got him 6.75% on a 30 year fixed.

**  They have a medically disabled son.  They are downsizing from a $400k home to a $250k home.  It will save them $1000 a month in the payment which they can divert toward their son's continuing medical care.  Stable employment history, but medical bills have wiped them out financially.  Low credit scores, some savings.  I got them 6.375% on a 30 year fixed FHA loan.

** They wanted to refinance to a 15 year mortgage and pull cash out for large equipment purchases to grow their business.  They have high 700's credit scores.   I got them 5.875% on a 15 year fixed and showed them that by applying $2000 extra to the mortgage each month they could pay off the 15 year mortgage in 5 years.  By switching them from a 30 year fixed to a 15 year fixed I saved them over $92,000 in interest charges.  Self Employed.  Back end ratios were 35%. 

** She wanted to buy her first investment property, and was going to pay cash.  We showed her the value of having a mortgage.  She put 25% down on $250k for a loan of $187k, at an interest rate of 6.75%.  she has high 700's credit scores and stable employment with a good deal of investments & assets.  Back end ratio was 39%. 

** They had never had a mortgage before and had always bought properties for cash - in fact over $10mil in assets are in real estate.  Their CPA encouraged them to call me & get a mortgage on their new primary residence in High Desert.  Average credit scores, (some credit challenges) lots of assets. Self Employed.   20% down on $600k.  I got them 6.25% on a 30 year fixed conventional mortgage.

** He is a journeyman electrician and about 24 years old.  He has been working for the past year on establishing credit & residence history by renting an apartment.  He now has 700's scores, and qualifies for a purchase price of $125,000 on an FHA 30 year fixed at 6.75% with no money down - seller can pay up to 6% including the down payment through gift funds.  His monthly rent right now is $850.  His monthly house payment will be $883.

** He was buying another investment property.  25% down, high 700's credit scores.  Got him 6.25% on a 30 year fixed - it is a single family rental property.  Monthly payment is about $1250 which is what he is getting in rent.

**  They want to do a cash out refi.  They currently owe $85k on a HELOC with a limit of $150k.  Their home is worth $700k.  they are building their new dream home, but live in this one right now.  Their interest rate on the HELOC is about to adjust, and they want to refi to a 15 year fixed so the rate is stable until they finish the new house and sell this one.  High 700's scores, Self Employed, lots of assets.  Because LTV is so low, can get them 6% on a 15 year fixed.

**  They wanted to do a no cash out refi.  They had credit challenges when they bought the house, and currently have a 30 year fixed mortgage at 8.125%.  Credit was repaired over past 6 months w/ protect your rights, and now refinanced & put both on the mortgage on an FHA 30 year fixed at 6.25%.  it saved them over $250 a month in their payment.

** He wanted to buy some land to hopefully one day build his dream home.  High 700's scores, works 2 jobs as a professional , saved up 10% down payment.  Got him a 5 year lot loan for land on a variable prime rate (prime is currently at 5%) from a local bank and the monthly payment is about $650.