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MORTGAGE EDUCATION IN PREPARING FOR A NEW LOAN

MORTGAGE EDUCATION IN PREPARING FOR A NEW LOAN: I advise all potential loan seekers contacting me or who are referred to me, that it is well worth their while to come in for a 30 minute to an hour long education or update on the mortgage process, as so much has changed in the last few years. New terminology, new guidelines, new available programs make it in the Borrower's best interest to gain knowledge and overcome all fears and reservations. Reviewing various loan options and understanding what is required for loan approval can circumvent unforseen problems that come up-simple ...

May 19th, 2017 MORTGAGE EDUCATION IN PREPARING FOR A NEW LOAN

MORE LOAN OPTIONS FOR MORE PEOPLE

MORE LOAN OPTIONS FOR MORE PEOPLE: There are so many new loan options that allow so many more borrowers the ability to get new home purchases and refinances. How about a 3% down Conventional loan for a first time home buyer? We got it. How about a 1% down Conventional loan for those under $60,300 (and in some Counties in Virginia with no income limits)? We got it. How about a special Lynchburg, Virginia grant that will allow a 10% grant toward the downpayment and /or closing costs for those under $38,600 income for City purchases? We got it. How about bank statement de...

May 13th, 2017 MORE LOAN OPTIONS FOR MORE PEOPLE

MORTGAGE BROKER OR BANK FOR A MORTGAGE?

MORTGAGE BROKER OR BANK FOR A MORTGAGE? In 2017 there still seems to be a disconnect for many who simply don't know why a Mortgage Broker has so much more to offer than a bank. It is simple: a typical bank offers the very BASIC loan programs and their underwriting guidelines are stringent. Their rates are higher due to their overhead. Niche products are shunned, as they desire the cookie cutter Borrowers. Mortgage Brokers offer a variety of Lenders and Banks that can meet a Borrower's specific needs. This equates to better rates, less stringent underw...

April 21st, 2017 MORTGAGE BROKER OR BANK FOR A MORTGAGE?

MORTGAGE BROKER OR BANK FOR A MORTGAGE?

MORTGAGE BROKER OR BANK FOR A MORTGAGE? In 2017 there still seems to be a disconnect for many who simply don't know why a Mortgage Broker has so much more to offer than a bank. It is simple: a typical bank offers the very BASIC loan programs and their underwriting guidelines are stringent. Their rates are higher due to their overhead. Niche products are shunned, as they desire the cookie cutter Borrowers. Mortgage Brokers offer a variety of Lenders and Banks that can meet a Borrower's specific needs. This equates to better rates, less stringent underw...

April 21st, 2017 MORTGAGE BROKER OR BANK FOR A MORTGAGE?

HOW TO GET A MORTGAGE LOAN CLOSED FAST

HOW TO GET A MORTGAGE LOAN CLOSED FAST:There are several components that attribute to whether a mortgage loan gets closed fast. 1) How quick can the Borrower provide all of the processing items needed to be presented to the loan officer? This seems to be one of the biggest problems in loan efficiency. 2) How efficient are the Realtors at getting a ratified contract to the loan officer and ordering the home inspection and termite/water/well inspections that may be needed3) How quick and efficient are the loan officer and his company at getting the paperwork ready for th...

April 14th, 2017 HOW TO GET A MORTGAGE LOAN CLOSED FAST

GETTING A "PROPER" MORTGAGE LOAN PRE-QUALIFICATION

GETTING A PROPER MORTGAGE LOAN PRE-QUALIFICATION: For the most part a pre-qual is not worth the paper it is written on. Why do I say this? Because most pre-quals that I see are done with nothing to back it. In order to really get a "proper" pre-qual the Borrower must bring to the table the following: last 2 years tax returns and W2s, last 30 days pay stubs, last 2 months bank statements, a letter explaining any credit issues, and a MORTGAGE credit report. With this information presented, a Mortgage Officer should be able to do the analysis to honestly tell IF the ...

April 7th, 2017 GETTING A "PROPER" MORTGAGE LOAN PRE-QUALIFICATION

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Diversified Mortgage Brokers

100 Copley Place, Suite D, Lynchburg, Virginia 24502
Toll Free: 800-388-3561 | Phone: 434-237-3143 | Fax: 434-239-4852
Email: dbi4009@aol.com | NMLS ID# 188675 (www.nmlsconsumeraccess.com)
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