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When talking with potential clients seeking mortgage financing, one of the very first things I do is provide the address to my website. I've loaded my mortgage website with helpful info and tools to benefit all those that visit there. One of the bits of info that I use and stress the importance of, is my "Mortgage Checklist". This list includes the info and documentation that is typically needed for mortgage application and processing. Having this list available ahead of … [Read more...]
If you are considering buying a home in Los Angeles please don't think we agents are being difficult when we tell you there is no point in starting the process until you have spoken to a lender. This is not personal. YOU CANNOT MAKE AN OFFER ON ANY HOUSE WITHOUT A LETTER FROM YOUR LENDER. Or if you are paying cash, without showing that you have the funds in place. You may have the best credit out there, which is good. You may have way more money in the bank than you need. Great. … [Read more...]
I've offered multiple posts about the importance of being familiar with frequently-used mortgage terminology prior to entering your mortgage processing. With all the real estate and financing terminology or slang that can pop-up during a real estate transaction, it's just best to be prepared and educated about what you'll be hearing. It's for your own benefit. Over the last few years, I have found that one piece of terminology, used frequently, is … [Read more...]
I May Not Be Yoda, but I'm Darn Close! Yesterday, I was reading yet another blog about the low interest rates presently available to home buyers seeking mortgage financing. Seems another new historic low was announced. Something not quite so noteworthy anymore, as we all have grown used to hearing about how the rates have dipped, dipped, and dipped again. And therein lies my big worry, both as a mortgage lender and as a parent. I think … [Read more...]
What's Your Point?? Nawwwww ... Not THAT Point! A great scene, isn't it? But it's not those "points" I'm going to talk about in this blog. No, I'm talking the "points" referred to when discussing mortgage costs and options. I've had several discussions as of late, with some pretty confused borrowers regarding these "points". They've had no real grasp of exactly what a "point" is prior to our discussion. What it can equate to in cost to them. How the cost of a … [Read more...]
