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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

CREDIT SCORES AND POTENTIAL BUYERS

Credit scores can make or break a deal, BUT perhaps not as much as you have been led to believe.Yes, most lenders want a 640 score or better for their Conventioanl,FHA,USDA,or VA approvals,BUT there are lenders that will approve the buyer with less attractive scores. How about FHA,USDA,and VA approvals to 580 scores? How about FHA approvals considered to 530 scores? Yes, there are programs with slightly higher % rates to accomodate these buyers.We have these programs. Perhaps you do not know what to advise a client in order to help increase their scores, so that a purchase can occur in a ...

January 17th, 2015 CREDIT SCORES AND POTENTIAL BUYERS

VERY IMPORTANT MORTGAGE ANNOUNCEMENTS

THERE ARE 3 IMPORTANT ANNOUNCEMENTS THAT WILL EFFECT YOU: 1) THE WHITE HOUSE IS PREPARING TO DO AN EXECUTIVE ORDER TO CUT FHA PREMIUMS BY 50 BASIS POINTS (this will allow less fees for a FHA loan and allow more buyers), 2) USDA IS CHANGING THEIR ELIGIBILITY AREAS EFFECTIVE 2/1 (this has been along time coming so make sure you know that your property is in an eligible area first-check the USDA site-http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do. 3) FANNIE MAE NOW OFFERS 3% DOWN PAYMENT FINANCING: purchase tranactions require that at least 1 borrower be a First-time homebuyer, ...

January 9th, 2015 VERY IMPORTANT MORTGAGE ANNOUNCEMENTS

WANT MORE DEALS CLOSED-PLEASE READ

Are you tired of losing deals that never close? Make 2015 different! You need a CENTRAL VIRGINIA Mortgage Broker with 26 years experience--that offers MORE= GIVE US A TRY. What is different you ask? 1) Straight talk w/o false promises and hype, 2) Constant communication as to updates on loan approval thruout the process, 3) FAST closings- 3-4 weeks, 4) Availability via phone 24/7, 5) The lowest rates with the lowest Broker compensation around- we shop from many lenders, 6) CONV., FHA, USDA, VA, JUMBO, CONSTRUCTION, and SUBPRIME loans,7) MULTITUDE of NICHE products to get the deal done: VA...

January 2nd, 2015 WANT MORE DEALS CLOSED-PLEASE READ

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)
http://www.diversifiedmortbrokers.com/

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