Online Shopping

By
Mortgage and Lending with Essex Mortgage 1487494

Being More Efficient

We are used to getting what we want and getting it now. The world is at our fingertips. If we want information, we want it now.  Anything we want to know……just ask Google, or Siri, or Cortana right? Its true- the internet has changed us and online shopping is the new way consumers are now adapting to shopping.  As a mother of a small baseball team (slight exaggeration) I can say that I am the master of efficiency. For me efficiency is not a desire but a necessity.   I am constantly looking for ways to be more efficient, to save time.

Shopping Online

One of the biggest time savers for me is online shopping. I love shopping online. It’s like Christmas everyday when a package arrives at my door. The best part about it is that I know that by shopping online, I can be a smarter shopper and I can compare prices without even leaving my house. I don’t know about you, but I can honestly say that I love to do everything I can do from home. It is a big time saver- no worrying about commuting to and from a store, no crowded stores or long lines and most of all, no waiting. Many stores even offer same day delivery if you order by a certain cut off time.

Goodbye Brick And Mortar

Will the brick and mortar stores be the proverbial online showroom of the future? I know I am guilty of window shopping at the mall and then going home to find a better deal online. I am sure many of us can relate. I recall a conversation I had with a salesperson at my local electronics outlet in my Sacramento hometown. I was shopping for a new television and I knew that I would want to see it in person before I committed, as most people like to do with big ticket items. The salesperson told me that the store has been busy all day but they have not sold one television. He even went as far as to tell me that he has overheard many customers tell him directly that they would just go home and see if they could find a better deal online.

Rate Shopping

Many of us savvy shoppers like to rate shop when we are looking for services. My recent auto insurance policy was coming up on expiration and I decided that I needed to renew. I found that my insurance company was going to raise my rates by 15% so I decided to do some shopping around. I am always amazed by the relative ease of online shopping. You just input all of your information and then suddenly you get multiple quotes- all competing for your business.

Home Loan Online

Something that may seem new to some of you is getting a loan to buy your first home or refinancing an existing mortgage by shopping online. The entire process can be done without even leaving your home. All of the paperwork can be submitted electronically eliminating the need for multiple trips to the bank to drop off more documents or sign more paperwork.  So as surprising as this may all seem, as I was perusing the internet today, I stumbled across a bulletin from the California Department of Business Oversight that says California online lending has increased by more than 930% over a five year period. Days where you visit your local bank or mortgage lender with a box of paperwork is long gone. Even if the mortgage lender you are dealing with has a local branch not too far from where you live, all paperwork and disclosures is done online and many times, it is mandatory to acknowledge disclosures online. Online Shopping for mortgage loans has opened up more doors for consumers where they can choose any mortgage loan originator in any state and are not limited to a local lender close by where they live. A consumer in California can hire a loan officer from New Jersey or Florida and vice versa.

Shopping Safely

“Clearly, California has a lot at stake in this growing segment of our financial services market,” said DBO Commissioner Jan Lynn Owen. “It’s crucial that we better understand the industry. These companies are providing needed access to financing. But we want to make sure our regulatory structure adequately protects the interests of our consumers and small businesses, and works effectively for industry.”

The most sure way to do any online business is to check the business on the BBB website. You want to make sure that anyone you give your financial information to is worthy of receiving it. You should always exercise due diligence and only work with reputable companies before sharing your information.

About The Author Arlene Di Sessa

Arlene Di Sessa, the author of Passing The NMLS Examination, is a senior writer for Gustan Cho and Associates.  Arlene Di Sessa has an MBA and holds a Master’s of Science Degree in Accountancy.  Arlene Di Sessa has over 20 years of experience with federal and state income tax returns and over ten years of experience in business taxation, including leading and conducting audits of global and national corporations.  Arlene Di Sessa is a licensed mortgage loan originator and the Branch Manager for the Money Store in Rocklin, California.  Arlene’s passion of helping others realize the dream of home ownership become a reality has motivated her to get her federal NMLS mortgage loan originator license. Many of Arlene’s friends who are California real estate agents has notice Arlene Di Sessa’s many talents with her accounting, financial, and real estate expertise and her passion of caring for others that have told her that she would make an excellent mortgage loan originator. Arlene Di Sessa also realized the housing prices of Sacramento California County is increasing where many of those hard working folks who are renting are doing themselves a disfavor by wasting their housing rental payments instead of buying a Sacramento Home where their monthly mortgage payments is equivalent to their rental payment but they are developing equity and wealth. Arlene is a Fannie Mae direct lender where the company she represents has no lender overlays and just goes off the automated findings of the Automated Underwriting System  where as long as the borrower meets the conditions of the AUS, that is your final approval. Minimum credit scores to qualify for FHA Loans with a 3.5% down payment is 580 FICO and the maximum debt to income ratio cap is 56.9% DTI for borrowers with at least a 620 FICO credit scores with Arlene Di Sessa. Most mortgage lenders will require that you pay off outstanding collection accounts and charge off accounts to qualify for FHA Loans. However, Arlene Di Sessa will not require you to pay off any outstanding collections or charge off accounts because FHA Guidelines On Collection Accounts  does not require you to pay off collections and charge off accounts.   Arlene Di Sessa’s goal is to have the number one producing branch of The Money Store in Rocklin, California and is aggressively recruiting quality mortgage loan officers who not just have a strong financial and educational background, but have a passion of helping families realize the dream of home ownership become a reality.

If you are planning in becoming a Sacramento, California homeowner and need the best of the best California mortgage loan originator who represents a national mortgage banking firm that has a solid 40 plus year name brand in originating and closing home loans, contact Arlene Di Sessa at 530-813-0661 or email Arlene Di Sessa at arlenedisessa@yahoo.com. Arlene Di Sessa is available 7 days a week, evenings, weekends, and holidays to take your phone call and answer any questions you may have on any loan program.

 

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