home loan: Subprime? Why Not? - 09/29/16 07:21 AM
Sub-prime lending is a much better option than Private or Hard money lending - if you qualify.
For a few years, I stopped doing conventional lending and switched to Hard and Private money lending. Hard money is hard cash. It requires 35% down, demands repayment within 6 to 12 months and rates can be pretty high (as high as 18%)! Private money may require less money down (maybe 20%), repayment may be 30 years and rates are usually around 8-12%. However, Private money is hard to find these days with the government making it harder for private people to lend money on primary … (1 comments)

home loan: Credit Reporting - What you should know - 08/17/16 08:10 AM
Let's cover Credit Score basics. A credit report is a document that lists information collected by credit bureau companies. The 3 most common are Equifax, TransUnion and Experian. Scores range from 300 to 850 with 300 being the worst and 850 being the best. A person can also have a zero score. Each company offers a score based on information collected from creditors (also called Traditional Credit) that a person uses. Some creditors only report to 1 bureau which is why one bureau may have a different score from another:
A person with a zero score can use non-traditional credit instead of traditional … (0 comments)

home loan: Read this before Refinancing your home! - 04/26/16 08:25 AM
When is it a good time to refinance? When the rate is 1% lower than your current rate? When you are able to reduce the number of years in paying off the mortgage? When you are able to get away from your current lender? When you are able to get a no-closing cost loan from the lender? When you want to pull money out to rehab the property? When you want to consolidate debt into the loan? When you want a fixed rate instead of your current adjustable rate? When you want to pay for a vacation, a new car, or … (0 comments)

Bill Polack, Bilingual Spanish Loan Officer in Southeast US. (First Option Mortgage)

Bill Polack

Bilingual Spanish Loan Officer in Southeast US.

Suwanee, GA

More about me…

First Option Mortgage

Mobile: (404) 644 - 3295

Office: (404) 644 - 3295

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