Blog

MARCH MADNESS

IF you are like me,I have NOT had much time to watch any basketball as the loans keep coming in, as folks start the Spring Fling buying trend. It has been crazy but I like to be busy! A NEW conventional product w/ 3% down w/ a 640 score, FHA loans w/ lower mortgage insurance rates down to 580 scores and even below, and of course, USDA w/ $0 down, w/ scores down to 580 are the reason for the surge. IF you want a Mortgage Broker who will tell it like it is, keep you informed along the loan process, and get the job DONE, then call on us: DIVERSIFIED MORTGAGE BROKERS, serving Centra...

March 28th, 2015 MARCH MADNESS

REALTOR-BORROWER-MTG. BROKER-LENDER-TITLE CO. UNISON

What a wonderful world it is when all the above do their part swiftly: Realtor gets the ratified contract to the Mortgage Broker asap, and the contract is written correctly; Borrower gets all the needed loan paperwork to the Mortgage Broker and Realtor; Mortgage Broker quickly gets loan paperwork prepared,signed by Borrower, and over to the Lender, orders title and appraisal,and keeps all the parties informed; Lender swiftly underwrites the loan and gets the approval out;Title Co. swiftly orders the search and prepares the title work. THIS UNISON AND CONSTANT COMMUNICATION ...

February 28th, 2015 REALTOR-BORROWER-MTG. BROKER-LENDER-TITLE CO. UNISON

Mortgage Points Of Interest

As you may be aware the mortgage and real estate market is really in a boom state despite the weather. There is an increase in interest and activity and more purchase contracts coming in. On the flip side interest rates are on the rise, especilly with conventional loans.Traditionally this increase in interst rates will occur as we get closer to spring (supply & demand). Many fence sitters will be upset IF they do not act quickly. Let us help you! A professional Mortgage Broker can answer a lot of questions, provide guidance, and educate the Borrower and Realtor on how ro get the job d...

February 21st, 2015 Mortgage Points Of Interest

HELPING POTENTIAL BUYERS AND BORROWERS

Let us help the buyers and borrowers by allowing us to talk with them to discuss loan programs,their best loan options, credit concerns,rates and payments, the loan process, etc. our phone is available 24/7, so let us do the work and help with the answers they need. we have 26 years serving Central Va. and beyond-DIVERSIFIED MORTGAGE BROKERS- Tel: 434-239-4852, Email: DBI4009@AOL.COM, Web: www.diversifiedmortbrokers.com   WE EDUCATE & DELIVER !

February 7th, 2015 HELPING POTENTIAL BUYERS AND BORROWERS

GETTING PRIOR CLIENTS TO UPGRADE

have you considered that with interest rates being so low, that you could contact your prior clients and inform them of how much more home they could get for the same payment they are paying now? Interest rates are down about 1%+ for most of your prior clients. This means tabout .58/per $1000 or $58/mo. for each $100,000, so a $200,000 loan at 4.625% @ 30 yrs. = $1028/ mo P&I, and now a $225,000 loan at 3.625% @ 30 yrs. = $1026/ mo P&I. Perhaps you have clients who would want to upgrade for the same payment? You can go to our website and play with the amoritization calculator: www.dive...

January 30th, 2015 GETTING PRIOR CLIENTS TO UPGRADE

MORTGAGE INSURANCE EXPLAINED

Mortgage insurance is required on all FHA loans and on Conventional loans where there is less than 20% equity. This covers the Lender's risks. FHA charges the client with two forms of mortgage insurance. There is a 1.750% upfront mortgage insurance fee that is added to the loan and financed in, and a monthly mortgage insurance fee (recently lowered by the White House by 50 basis points despite the MI carriers rebuttal). So for example, what was a 135 basis points on a 90% + loan, is now 85 basis points (on a $100000 loan this reduces the monthly fee from $112.50/ mo. to $70....

January 24th, 2015 MORTGAGE INSURANCE EXPLAINED

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