- Name
- Dan Moralez
- Company
- First Place Bank
- E-mail
- Contact Dan Moralez (First Place Bank)
- Website
- http://www.DANMORALEZ.com
- Office Phone
- (616) 931-4629
- Cell Phone
- (616) 931-4629
- Fax
- (616) 392-2798
- Address
- 4175 Parkway Place, Grandville, MI, 49418
- Description
- I have been lending since 1991 and am one of the top producing lenders in West Michigan. Visit www.danmoralez.com to subscribe to my podcast.
I have been lending in West Michigan since 1991 when I started lending for what used to be Ottawa Savings Bank and is now known today as 5/3rd Bank. I also worked for FMB-First Michigan Bank (now Huntington Bank) and Republic Bank (now Citizens Bank). I guess I have a niche in working for banks that eventually get sold. Note to self, time to buy some First Place stock.
Joking aside, I have been with First Place Bank since May of 2005 and work as the Regional Sales Manager for West Michigan. I oversee a group of over 20 team members while maintaining a busy mortgage practice. I have been featured by Mortgage Originator Magazine as one of the top 200 lenders in the country multiple times. I have been published, quoted and interviewed by The Niche Report, LoanToolBox.com, LoanOfficerMagazine.com, LoanOfficerSeminars.com and serve as an Staff Writer and Advisory Board Member to MortgageCurrentcy.com. I was also a featured speaker for the Indiana Mortgage Bankers Association at their annual convention.
I am happily married to my high school sweetheart and have five lovely, but challenging children. We live in the Zeeland area and attend Ridgepoint Community Church in Holland.
The Types of Loans I Can Do:
What sets apart my team and I is the level of knowledge and experience we bring to the table. While most lenders will talk about how great they are, few can produce evidence of the level of success that my team and I can. During my career, I have lent nearly a half billion dollars. That is a lot by any measure.
Here are some areas where we specialize:
FHA/VA/Rural Housing/MSHDA Home Loans
We are experienced with FHA/VA/Rural Housing and MSHDA home loans. My FHA/VA underwriter sits in the office next to mine and approves all loans locally! Over 30% of our loans are approved manually as they were not eligible thru the automated underwriting system, but were still loans that we could justify an approval on. No need to send a file to a distant underwriter hoping for an approval. We are also experienced with VA/Rural Housing and MSHDA home loans. Inparticular, the use of the down payment assistance program that gets qualified buyers up to $7,500 in a down payment assistance loan with as little as 1% down.
In addition, we are experienced with FHA 203k loans which allow home buyer's to purchase a home and finance improvements to the property at the same time. With the large number of properties that are bank owned or neglected by the seller, this gives us the ability to finance improvements as part of the purchase of the home. Call me for details on your specific needs.
Investment Property
I have always had a large portion of my loan volume be attributed to investment and non-owner occupied properties. We are experienced with investor properies as well as investor rehab purchases and fix to flip properties. Most lenders fail to realize that a borrower is qualified differently for investment property then an owner occupied purchase. If you are ready to work with a lender who understands investment property lending, I am your man. If you are working with investors, you need to talk to us. We have the knowledge and experience to help your investors close more deals.
Construction - Rehabilitation and Vacant Land Lending
I have been in the construction and rehabilitation lending business since I started back in 1991. I currently have several homes that I have financed in different stages of construction. Owner Builder (on an exception basis for qualified clients), Custom Construction, Rehab and Investment property construction loans are all available.
Common Sense Portfolio Lending
Because First Place is a bank, we have our own money to lend. This is probably the biggest area that sets us apart from our competition. Being a bank allows us to make common sense loans that have been turned down by other lenders. Portfolio loans are often a good tool for borrowers who almost qualify for a Fannie Mae loan, but just don't hit their guidelines. They are also good for borrowers who are purchasing mixed use property or properties that do not conform to Fannie Mae guidelines. With our portfolio, all common sense loans are considered.
Blanket and Bridge Loans
Yes, somebody still does these. If you have a client who has a house to sell and they have equity, a First Place bridge loan may be the key. In addition, our bridge loans can allow for up to 9 months to sell their current home with flexible repayment options. For more details on these options, contact our team.
Loans with low down payments and NO PMI!
While many options for 100% financing may have disappeared. The truth is there are still many options available for those seeking to purchase a home with little to no down payment. Best of all, some of these options allow for NO PMI and others allow for little to no down payment in a declining market with reduced mortgage insurance cost.
Seller Held Second Mortgages!
Yep, you read that right! We still allow for a seller held second mortgage with conventional rates and terms on the first mortgage. Borrowers must have a minimum of 5% down from their own funds. This is a great alternative to FHA for some borrowers and can help close more deals. Call us for the details.
Standard Conventional No-Brainer deals
Do these exist? The truth is anybody can do these deals. Where the difference comes in is the loan structure itself. The lowest rate isn't necessarily the best deal. A loan structured improperly can either cost you a sale or cost your buyers thousands of dollars. You don't choose the doctor with the least experience, why should you choose your mortgage lender or any professional the same way.
Temporary Buydowns and Unique Loan Structures
If you don't know what a temporary buydown is, you need to call us right away. This strategy will help seperate your listings from others and can give you a distinctive market advantage. If the lender you are currently working with doesn't or hasn't told you what a temporary buydown is, it is time to give them the boot and give us a call.
My Take On Lending:
I have always believed that talk is cheap and action speaks louder than words. Rather than to tell you what our clients have said about us, click here to see the testimonial page of our website where you can view the clients testimonials in their own writing. Just one more way to prove we are the real deal. We work hard to make sure you look good. That is the best way to insure we both get referrals and continue to build long term successful relationships with our clients.
