FHA,USDA, VA, CONV...what's the best options....

By
Mortgage and Lending with Mortgage Services, Inc.

 

Many borrowers and/or agents think they know the best mortgage financing solutions available today, and that may be true for some but not for others.... the easiest, fastest or lowest interest rates made available is not always the smartest way to go.... for instance  if you were to do a conventional mortgage, you may pay slightly higher payments than an FHA initially (slightly higher)... but could pay possibly $50,000 more in total payments over the life of the loan.... don't let yourselves or anyone else be fooled by just looking at the interest rate, we must all now consider the PMI (mortgage insurance) that will paid over the life of the loan... although FHA has recently decreased their monthly pmi payments they still require the borrower to pay the PMI for 30 years...even if the  property value  drastically increases over  5-10 years after they’ve taken out the mortgage and even if they  were to pay down their principle  mortgage balance to under 78%. Some would tell you not to worry and that the borrower could simply refinance out of an FHA in the future, and that may be true, but there will be NO GUARANTEE that the current interests rates available today would be available in the future. For this reason alone, borrowers are highly encouraged to plan ahead prior to proceeding with their home purchase. The choices borrowers make today are more important than ever before and helping them plan for their futures is what will set professionals apart from the rest. Helping someone improve their credit FICO Score by just 1 point could be the difference of paying an extra $50,000 on a mortgage. PLANNING AHEAD AND GUIDEING CLIENTS OR PROSPECTIVE CLIENTS TO PLAN AHEAD WILL BUILD A LONG TERM REALTIONSHIP FOR YEARS TO COME...

 

The TRANSACTION IS IMPORTANT BUT THE RELATINONSHIP IS THE MOST IMPORTANT...

 

If you have a client or prospective client we can help evaluate their current options as well as set up a specific game plan, which includes us as your financing team that really cares about and goes out of their way for our mutual client. We utilizes  the support of NOT FOR PROFIT organizations to achieve the results for our clients... they will provide down payment & closing cost assistance and education as well as credit guidance and support for all our clients.

 

 

 

If you are interested in finding out more about how this can help you build your business or help a client achieve the best financing solution available, call us today at 800.922.3210 ext 121

 

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Tags:
fha
usda
financing options
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first time homebuyer
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Looking for a realtor in Waterbury, CT?. Brass Moon Realty Waterbury real estate agents are local experts ready to help you buy or sell a home in Connecticut. Call (203) 724-7127. https://www.brassmoonrealty.com

Jun 06, 2020 11:07 PM #1
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Ronald A. Giannamore

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