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WHAT HOME BUYERS SHOULD KNOW AND DO

WHAT HOME BUYERS SHOULD KNOW AND DO: Buying a home is probably the largest purchase and expense you will ever have, and yet most buyers have no real idea what goes on, what to ask, what to expect, and who to trust. My advice is simple-YOU are the buyer and therefore YOU are the BOSS-you should make it clear that you are INTERVIEWING all involved, and that each party must  sell you on why they should be chosen to represent your needs and act as your FIDUCIARY. Ask the Realtors what they specifically CAN offer you, and what help or guidance they WILL provi...

March 24th, 2017 WHAT HOME BUYERS SHOULD KNOW AND DO

Mortgage Loan Education

The basic loan types are Conventional (Fannie Mae and Freddie Mac), FHA, USDA, and VA. Most  lenders typically require 640 credit scores or higher, but there are also Lenders that will go to 620 scores, and specialty lenders that will do FHA and VA loans down to 580 ... some below this on a case by case basis. It is good to have a Mortgage Broker in your arsenal that can handle all these needs. Interest rates are determined by the following criteria: 1) Credit scores (the highest category is 740+ and then they drop in 20 point categories- thus the higher the score the bette...

March 17th, 2017 Mortgage Loan Education

WANTED: PURCHASE LOANS AND REFINANCES

WANTED: PURCHASE LOANS AND REFINANCES. If you are considering a mortgage for a new home or a refinance of your current home, we want your business. We are the oldest Mortgage Broker in Central Virginia, and we really do offer the best rates and terms available along with great service. We shop from many Lenders to achieve the best deal for you based on your specific needs and credit. From the preferred credit to the challenged credit, we offer programs that will handle it all. We pride ourselves on educating the client and keeping the Client and Realtor informed thruout the process. If you are...

March 10th, 2017 WANTED: PURCHASE LOANS AND REFINANCES

What Makes A Great Mortgage Broker?

What makes a great Mortgage Broker? First, one who will educate the Borrower on the entire loan process so that they feel 100% comfortable.2nd, One who will keep the Realtor, Title Comapany and Borrower abreast of the loan's progress along the way; and quickly get the loan sunmitted and the conditions satisfied with the Underwriter so the loan can get to closing.3rd, a person who will be up front w/o any cinderella stories on the loans chances, and who will tell it like it is.4th, an individual who knows the business and how to coordinate the Borrower, Appraiser, Title Firm and Lender to m...

February 18th, 2017 What Makes A Great Mortgage Broker?

Easy Come Easy Go With FHA Revisions

The New FHA revisions to the lower monthly mortgage insurance costs have been taken away before they were to take effect 1/27/17. POTUS Trump and his cabinet has decided to freeze all such reductions that would have cost the Government more money, and thus the expected lower mortgage insurance premiums are gone until further notice. We will have to see what effect this has on home purchases in 2017. For your mortgage needs, call on us at Diversified Mortgage Brokers, serving Central Virginia and beyond for 28 years. Tel: 434-237-3143, Email: dbi4009@aol.com, Web: www.diversifiedmortbroker...

January 27th, 2017 Easy Come Easy Go With FHA Revisions

New Mortgage Loan Revisions To Stimulate The Market

2017 has opened with new revisions in the mortgage market to hopefully stimulate the market and allow more homes to be sold and get financing. USDA has lowerd its up front guarantee fee from 2.750% to 1.00% and its monthly USDA fee from .50 % to .35 % of the loan amount. Conventional loans have increased the maximum loan amount to $424,100 from $419,000 which was the max. in most areas. FHA and VA has increased their maximum loan to $271,050 in most areas. These moves are just a few of the new revisions introduced for the 2017 market and these revisions should increase sale...

January 6th, 2017 New Mortgage Loan Revisions To Stimulate The Market

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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)
http://www.diversifiedmortbrokers.com/

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