Many consumers are shocked to find out that their Credit Karma or other online scores do not match their true FICO score when it’s finally run by their mortgage lender.
This happens quite often – and it’s important to understand
the differences and reach out to your mortgage professional first.
Unfortunately, many would-be buyers have an incorrect view
of their actual credit worthiness and begin looking at homes too soon in the
To repeat, the key thing to remember here is to reach out to your mortgage professional to get your official FICO score.
I’d invite you to find out the particulars here – as the free online credit products and the FICO score used in mortgage qualification process are noticeably different. Essentially, they use different algorithms to come up with their own score.
Most lenders determine a borrower’s creditworthiness based
on FICO® scores, a Credit Score developed by Fair Isaac Corporation (FICO™).
This score tells the lender what type of credit risk you are and what your
interest rate should be to reflect that risk.
FICO scores have different names at each of the three major
United States credit reporting companies. And there are different versions of
the FICO formula. Here are the specific versions of the FICO formula used by
Equifax Beacon 5.0
Experian/Fair Isaac Risk Model v2
TransUnion FICO Risk Score 04
The Key Takeaway
The major takeaway is that your Credit Karma score will be different than your FICO score…and in most cases, the free, online score is better than the FICO score – at least that has been my experience.
Paying cash for a house has its advantages. Purchasing with cash rather than getting a mortgage could help you as the buyer win a bidding war when buying a new home. You may even be able to negotiate a lower price on the home if you’re paying cash.
After all, cash in hand is a sure thing, and a mortgage approval can take some time and isn’t always guaranteed.
Delayed financing is a specific program that allows the buyer to take cash out on a property immediately in order to cover the purchase price and closing costs for a property they had just purchased with cash.
How Delayed Financing Works
Delayed financing is a mortgage that is originated on a property after you already own it, in comparison to a typical mortgage that is used for the acquisition of a property. The delayed financing mortgage option allow buyers to compete with all-cash buyers when purchasing the property.
By financing the property after the initial cash transaction, the borrower/buyer is able to regain their liquidity because the money isn’t tied up in the house after the delayed financing is completed.
in mind that the value of the property might not the same as the purchase
price. Borrowers will need an appraisal done by their new lender to determine
the value. Moreover, your new loan can’t
be more than what you paid for the property plus your closing costs and lender
Why Delayed Financing?
Delayed financing is generally helpful for:
Investors who want to compete with all-cash buyers’ short timelines
Investors who want to have more bargaining power because they’re paying with cash
A property that has multiple offers and the seller doesn’t want to wait on financing
Investment properties, vacation homes, and primary residences
An investor who wants to take their cash out and buy another investment property
The primary reason to utilize delayed financing is that buyers can stay liquid. Investors use delayed financing to recover their cash and be able to purchase another property.
delayed financing is right for an investor who wants to take advantage of all
of the benefits of purchasing a home using all cash. They can often negotiate a
lower price, close faster and compete with multiple other buyers. An investor
who doesn’t immediately qualify for conventional financing may also opt for
An Investor’s Point of View
this case, the buyer is an investor and purchases a property using all cash. The buyer then wants to free-up some cash
back to buy another property.
buyer can then delayed financing to recoup the cash and take a loan out on the new
property, utilizing the cash back from the initial transaction!
A Primary Occupancy Borrower’s Point of View
buyer can also use this option to compete with all-cash buyers and negotiate
better terms. Delayed financing can be done as quickly as three weeks after
purchasing the property, which is different from a standard “cash-out
refinance” transaction, where the borrower must wait six or more months.
How Long Do You Have to Wait to Refinance?
If you’re doing a delayed financing transaction on a property you purchased in the last 6 months, you’re allowed to take cash out immediately without any waiting period.
Under normal circumstances, if you bought a home with a mortgage
instead of cash, you have to be on the title at least 6 months before you can
take cash out and refinance your home, so delayed financing is a notable
are certain qualifications that need to be met in order to qualify for a
delayed financing transaction. Most
specifically, the property must have been originally purchased using all cash.
Lenders generally have the following qualifications for this type of transaction:
Arm’s Length Transaction: You can’t be related to or have a personal relationship with the seller
Closing Documents: Closing statement from the property purchase
Proof of Funds: Showing where you got the funds to purchase the property
New loan amount can be no more than the actual documented amount of the borrower’s initial investment in purchasing the property plus closing costs.
Appraisal: Ordered by the lender and paid for by you, generally $500-plus
There can be more needed and other regulations may apply, but these listed above are most standard.
Although you may have just ordered an appraisal when you originally purchased the property, as mentioned previously, the lender will want to conduct their own appraisal before they approve your loan.
It would be my pleasure to help any borrower with a delayed financing transaction, so don’t hesitate to reach out to me for more information or to get started!
Most experts expect that the summer homebuying season will be quite strong. But a question remains about this real estate market: will it favor buyers, sellers, or both? Let’s take a closer look at who might benefit the most from the upcoming real estate buying season.
Remarkably, based just on consumer confidence, it appears that the summer homebuying season may be beneficial for both buyers and sellers.
According to Fannie Mae, one of the nation’s top mortgage investors, Americans are extremely optimistic about the housing market’s direction.
Growth typically means that it’s a good time to both buy and sell a home, and indicators are that Americans believe interests rates will stay relatively in check while their incomes will increase.
While consumer confidence may be high, some economists are ambivalent about the strength of the housing market.
There are some signs that the market is flattening, instead of continuing to race upward. Experts are actually divided on this issue, as home prices are still appreciating.
For instance, home sales at the national level are slowing slightly, although the rate of home appreciation is still increasing, albeit at a slightly slower rate. In addition, it’s taking a bit longer for homes to sell in some areas of the US, which means the days of homeowners benefiting from bidding wars might be on the wane.
This isn’t necessarily the case out west, as inventories are still low and there are more buyers that sellers. At the same time, with interest rates stabilizing, homes are still extraordinarily affordable, compared to historical norms.
So, who actually is going to benefit from the strong summer market?
Taking into account these facts, it looks like home buyers will have a slight advantage this summer. For starters, home prices are still on the rise but not as sharply as they once were.
Some sellers are also reducing their original listing price, which indicates they’re having trouble attracting buyers. Finally, the Federal Reserve has signaled that interest rates should stay relatively stable through the summer, which is the reason for the strong market, and as almost everyone knows, low interest rates are better for buyers. Rates have been steadily ticking downward over the last 2 months or so.
The summer homebuying season is going to be very strong, and tilted in favor of home buyers. If you’ve been thinking about buying a new home, now might be the perfect time – feel free to contact me for more information!
At first, it may seem that the equity issue is simple. You
bought a house for $150,000 and it’s now worth $275,000.
You’ve paid down principal, too, so your current equity is
Can you really get a check for almost $190,000 from lenders?
Lenders generally will allow cash-out refinancing equal to 80
percent of your equity. They will see a property value of $275,000 and subtract
20 percent ($55,000). That will leave around $220,000. This money will be used
to first repay the existing loan of $85,000. The balance – $135,000 – represents the cash available to the
With some program, you might do better. The VA cash out mortgage allows qualified borrowers to refinance up to 100 percent of their equity while the FHA cash out loan will go to 85 percent. However, these programs come with various charges and insurance costs that many borrowers with equity will want to avoid.
Cash-out refinance to buy another home
With cash-out refinancing, you can use the equity in your home for many things — but not for all things. For instance, you can use the money to pay for college tuition, to purchase a business, or buy another property.
Buying a second home or investment property
In terms of real estate, you can use real estate equity to
immediately buy a second home or to purchase an investment property.
As soon as you close the cash-out refi, you can use those funds
as a down payment on another home — or to buy the house outright — if you plan
to keep the current home as your primary residence.
How to Go About a Refinance
Reach out to your lender to begin the application process. He or she should be able to coach you through the process – and identify the key pieces that will help you make an informed decision.
I’ve helped numerous investors with this process, and I’d be glad to see if this option might work for you, as well! Give me a callfor more….
Tapping into home equity by
refinancing is more of a possibility today and becoming very popular for many
As interest rates have moved lower in the last 3 weeks and housing values across the country continue to steadily increase, homeowners now have access to a much larger source of equity and possibly better payment terms!
With current mortgage rates low
and home equity on the rise, many think it’s a perfect time to refinance your
mortgage to save not only on your overall monthly payments, but your overall
interest costs as well.
It’s really about managing the
overall assets that you have in order to maximize the returns. Make sure you
are working with the right mortgage
lender to help in figuring out which product is best.
What is a Cash-Out Refinance?
A mortgage refinance happens when
the homeowner gets a new loan to replace the current mortgage. A cash-out
refinance happens when the borrower refinances for more than the amount owed on their existing home
loan. The borrower takes the difference in cash.
Rates Are Down and Home Equity is
Since rising home values are returning lost equity to many homeowners, refinancing can make a good deal of sense with even a small difference in your interest rate. Homeowners now have options to do many things with the difference.
More home equity also means you
won’t need to bring cash to the table to refinance. Furthermore, interest rates
can be slightly lower when your loan-to-value ratio drops below 80 percent.
Here’s what many of my customers
are doing with that equity:
Purchase a 2nd Home or Investment
Property (or a combination of both)
Home Improvement –
upgrades to kitchen, roof, or pool
Benefits of Cash-out Refinances
Free Up Cash – A cash-out refinance is a way to access money you already have in your home to pay off big bills such as college tuition, medical expenses, new business funding or home improvements. It often comes at a more attractive interest rate than those on unsecured personal loans, student loans or credit cards.
Improve your debt profile – Using a refinance to reduce or consolidate credit card debt is
also a great reason for a cash-out refinance. We can look at the weighted
average interest rate on a borrower’s credit cards and other liabilities to
determine whether moving the debt to a mortgage will get them a lower
rate. Some borrowers are saving thousands per month by
consolidating their debt through their mortgage.
More stable rate – Many borrowers choose to do a cash-out refinance for home
improvement projects because they want a steady interest rate instead of an
adjustable rate that comes with home equity lines of credit, or HELOCs.
2nd Home or Investment
Property – many borrowers are utilizing the
value of the cash in their home to purchase rental properties that cash flow
better then the monthly payments of the new loan.
Tax deductions – Unlike credit card interest, mortgage interest payments are tax
deductible. That means a cash-out refinance could reduce your taxable
income and land you a bigger tax refund.
Reasons NOT to Refinance
Terms and costs – While you may get a lower interest rate than your current mortgage, your cash-out refinance rate will be higher than a regular rate-and-term refinance at market rate. Even if your credit score is 800, you will pay a little bit more, usually an eighth of a percentage point higher, than a purchase mortgage. Generally, closing costs are added to the balance of the new loan, as well.
Paperwork headache – Borrowers
need to gather many of the same documents they did when they first got their
home loan. Lenders will generally require the past 2 years of tax returns, past
2 years of W-2 forms, 30 days’ worth of pay stubs, and possibly more, depending
on your situation.
Enabling bad habits – If you’re doing a cash-out refinance to pay off credit card
debt, you’re freeing up your credit limit. Avoid falling back into bad habits
and running up your cards again.
The Bottom Line
A cash-out refinance can make
sense if you can get a good interest rate on the new loan and have a good
use for the money.
Using the money to purchase a
rental property, fund a home renovation or consolidate
debt can rebuild the equity you’re taking out or help you get in a better
With that said, seeking a refinance to fund
vacations or a new car might not be that great of an idea, because you’ll have
little to no return on your money.
It would be my pleasure to see if this type of plan
might be a good one for you.
Most loans with less than 20 percent down (for purchases) or home equity (for refinances) require some form of mortgage insurance. This can be pricey for some borrowers, so it’s important to have a strategy to deal with this type of insurance.
Everyone wants to pay less for mortgage insurance and with a little preparation and some shopping around that may be possible.
But before we look at lower costs, let’s first explain what mortgage insurance (MI or PMI for ‘private mortgage insurance’) really is.
For conventional (non-government) loans, it
may be also be called PMI, or private mortgage insurance. FHA programs require
mortgage insurance premiums (MIP) regardless of the size of down payment.
VA home loans call their insurance premium a
funding fee. Some lenders may not require a separate insurance policy, but
charge a higher interest rate to cover their risk.
Why 20 percent down?
Mortgage lenders really, really want you to
buy a home with at least 20 percent down. That’s because it substantially
reduces their losses if you don’t repay your loan and they have to foreclose.
However, most homebuyers, especially
first-timers, don’t have 20 percent to purchase a property. The National
Association of Realtors lists these figures for median down payments in 2018:
All buyers: 13 percent
First-time buyers: 7 percent
Repeat buyers: 16 percent
If you don’t have 20 percent down, most
lenders force you to purchase mortgage insurance. The policy covers their
losses if you default and they don’t fully recover their costs in a foreclosure
How much does mortgage
What MI costs are you likely to face? For
conventional mortgages, MI costs depend on your credit rating, down payment
size, and type of loan you choose. For government loans, your credit score does
not affect mortgage insurance premiums.
Here’s the advice that Peter Miller gives on how to pay less….
How to pay less for
Mortgage insurance can be a big cost. For
example, if you buy a home for $250,000 with 3.5 percent down, and get FHA
financing, the up-front MIP will be $4,222. You’ll also pay annual MIP of $171
per month. After five years, you will have spent $14,482 ($171 x 60 plus
Here are several strategies to reduce or
eliminate mortgage insurance costs.
Instead of getting one mortgage, get two. Try
a first mortgage equal to 80 percent of the purchase price and a second
mortgage for 5, 10 or 15 percent of the balance. You can then buy with no
mortgage insurance. Here’s how that might work, assuming that you have a 700
FICO score, 5 percent down, and buy a traditional single-family home for
First mortgage principal and interest, assuming a 4.5 percent
interest rate: $1,013.
Second mortgage principal and interest, assuming a 7 percent
interest rate: $249
Total payment: $1,263
A comparable 95 percent loan with 25 percent
coverage looks like this:
First mortgage principal and interest at 4.5 percent: $1,203
Mortgage insurance: $108
Total payment: $1,311
In this case, the difference is about $50 a
If the value of your property has grown, you
may be able to refinance to a loan without MI, instead of without waiting until
your balance is less than 80 percent. When refinancing, you want to try for a
double MI whammy — a new loan with both a lower rate and no MI requirement.
Speak with a loan officer for details; the monthly savings might be significant.
Look for refundable
If you expect to be a short-term owner, look
for mortgage insurance programs with refundable premiums. With the FHA, for
example, you can get a partial refund if you pay off the loan within three
years. And private mortgage insurers also offer refundable premiums. However,
their upfront costs may be higher.
Reduce your risk profile
With conventional financing, you can
significantly reduce what you pay for mortgage insurance by being a less-risky
Improve your credit score. Even a one-point increase can save
you money if it puts you into a better tier
Make a larger down payment. Going from 3 percent to 5 percent
can save you money, depending on the program
Choose a fixed loan over an ARM
Choose a loan with a term of 20 years or fewer
Conventional loan guidelines allow
borrowers to request cancellation of their MI once their loan falls to 80
percent of the value of the home when you took out your mortgage. You must
normally be in good standing with your lender to drop MI this way.
With FHA and USDA mortgage insurance,
coverage continues for the life of the loan. For VA-backed financing, there is
no monthly charge.
Alternatively, mortgage insurance for
conforming loans “must automatically terminate PMI on the date when your
principal balance is scheduled to reach 78 percent of the original value of
your home. For your PMI to be canceled on that date, you need to be current on
your payments on the anticipated termination date. Otherwise, PMI will not be
terminated until shortly after your payments are brought up to date.”
Do reach out to me to discuss your down payment and mortgage insurance options, as it would be my pleasure to help you!
Per Mr. Green: “If you’re a home
buyer with a good deal of cash saved up in the bank, for example, but you
have relatively low annual income, making the biggest down payment
possible can be sensible. This is because, with a large down payment, your
loan size shrinks, reducing the size of your monthly payment.”
Or, perhaps your situation is reversed.
“Maybe you may have a good household income but very little saved in the bank. In this instance, it may be best to use a low- or no-down-payment loan, while planning to cancel your mortgage insurance at some point in the future.”
Dan continues: “One thing is true for everyone,
though — you shouldn’t think it’s “conservative” to make a large down payment
on a home. Similarly, you shouldn’t think it’s “risky” to make a small down payment. The opposite is actually
“About the riskiest thing you can do when you’re buying a new home is to make the largest down payment you can. It’s conservative to borrow more, and we’ll talk about it below.”
For today’s most widely-used purchase mortgage programs, down payment minimum requirements are:
Remember, though, that these requirements are just the minimum. As a mortgage borrower, it’s your right to put down as much on a home as you like and, in some cases, it can make sense to put down more.
Larger Down Payments Actually Increase Risk
Green continues: “As a homeowner, it’s
likely that your home will be the largest balance sheet asset. Your home
may be worth more than all of your other investments combined, even.
In this way, your home is both a shelter and an
investment and should be treated as such. And, once we view our home as an
investment, it can guide the decisions we make about our money.
The riskiest decision we can make when
purchasing a new home?
Making too big of a down payment.”
The Higher The Down Payment, The Lower Your Rate of Return
The first reason why conservative
investors should monitor their down payment size is that the down
payment will limit your home’s return on investment.
Consider a home which appreciates at the
national average of near 5 percent.
Today, your home is worth $400,000. In a year,
it’s worth $420,000. Regardless of your down payment, the home is worth
twenty-thousand dollars more.
That down payment affected your rate of
With 20% down on the home — $80,000 –your rate of return is 25%
With 3% down on the home — $12,000 — your rate of return is 167%
That’s a huge difference. Please do reach out to me for more information so we can figure out the best down payment strategy for you!
Despite the popularity of house flipping, the biggest barrier to entry and success in this space is cash. Without enough money, you can’t purchase the home, pay for renovations, or find a buyer for the property when the time comes to sell.
Fix and flip loans are used by short-term real estate investors to purchase and renovate a property before flipping it for a profit or refinancing it after rehab. This type of financing for flipping houses offers investors fast closings for properties in any condition.
Finance of America has a fantastic set of offerings in this category…..
Not sure whether you need the Fix & Flip Single Loan or
the Fix & Flip Exposure Limit?
The Fix & Flip Single Loan is designed for
investors who need funding to flip a single investment property.
The Fix & Flip Exposure Limit is a line of
credit offered to experienced investors who plan to acquire and/or renovate
All Fix & Flip Exposure Limits allow
investors to close quickly.
Both Fix & Flip Single Loan and Fix &
Flip Exposure Limit offer the option of rehab funding, if needed.
Our commercial offerings are quite unique. These products are in-house from
origination to funding. Controlling the financing from origination to funding
allows our investors to reliably plan the timing for their projects. Timing is
always important in the real estate market, especially in construction and
For experienced investors we establish an exposure limit and for new investors we start our first project together with a single mortgage. Contact me for more details.
Now that 2019 is here, let’s take a look at what we can expect regarding interest rates and the housing market.
Experts are predicting some interesting shifts moving into 2019, including continued home appreciation (although at a slower rate) and slight interest rate increases.
take a look at the key components that drive the real estate market….
2019 Geopolitical/Finance Dynamics
One important way to understand what lies
ahead has to do with taking a look at world events and the other issues that
drive the economy. Here are a few things
that will impact the market in 2019:
Trade issues with China
Possible economic slowdown, although early 2019 results have been positive
Late 2018 Stock Market pullback – Early 2019 Rally
The Federal Reserve – 2 planned hikes in 2019
Rates set to rise in year ahead – How much and what will the impact be?
Keeping an eye on inflation…watch oil prices and wage pressures
Continued stock market volatility?
The Federal Reserve
The Federal Reserve raised borrowing costs four times in 2018, ignoring a stock-market selloff and defying pressure from President Trump, while dialing back projections for interest rates and economic growth in 2019.
By trimming the number of rate hikes they
foresee in 2019, to two from three, policymakers signaled they may soon pause
their monetary tightening campaign. Officials had a median projection of one
move in 2020.
Federal Open Market Committee “will continue to monitor global economic
and financial developments and assess their implications for the economic
outlook,” the statement said.
some things to watch in 2019:
Every meeting will have a press conference, making every meeting a live meeting, increasing speculation and volatility.
Federal Reserve “Dot Plot” shows 2 hikes in 2019
Inflation could rise with higher oil prices and wage pressures
Fed scheduled to reduce their balance sheet of mortgage-backed securities and treasury bonds by $50B per month
Prediction:Fed will hike 1 time to get the Fed Funds Rate (FFR) to 2.75%, although they would love to get the federal funds rate to 3% – and they will stay course on balance sheet reduction.
The pause in Fed rate hikes acts as important catalyst to turn the
tide in favor of Stocks.
It’s not very often that major players across
an industry agree, but on this point, almost everyone does. Nearly all industry experts predict the
30-year mortgage will average above 5% for 2019.
Five percent used to be considered an
ultra-low rate. But after years of rates in the 3s and 4s, it seems pretty
steep. Still, affordable home payments
won’t be hard to find, even as we adjust to the new normal.
The National Association of Realtors (NAR)
predicts 30-year fixed interest mortgage rates to average around 5.3 percent in
“The potential buyer who’s thinking if now is
the right time to buy needs to do the math and determine what the impact of
potential rising rates would be on their payment,” said Paul Bishop, the NAR’s
VP of Research.
Here are some of the key factors for 2019:
Inflation is main driver of rates, and inflation should tick higher with oil prices rebounding and wages increasing. Many states increasing minimum wages.
Fed will continue to allow $50B to roll off balance sheet and is no longer buying
US Government borrowing more in 2019, which will add supply to the market that will need to be absorbed
More supply and less demand = higher rates
Stock market increases will most likely hurt rates
Prediction:The 10-year Treasury Note will trade between 2.75% and 3.25% for most of the year. High point for 10-year is estimated at 3.5%. Mortgage rates will fluctuate in the low-mid 5% range
30-year Fixed Mortgage Rates in the 5% to 5.5% range for most of
Most experts predict the fevered bidding wars
and snap home-buying decisions won’t be as big of a factor in most
markets. Slower and steadier will characterize next year’s housing market.
That follows a 2018 that started off
hot but softened into the fall as buyers – put off by high prices and
few choices – sat out rather than paid up.
issues will remain a top concern going into 2019, exacerbated by rising
mortgage rates. But some of 2018’s more intractable issues will begin to
loosen up. The volume of for-sale homes is expected to rise and diversify,
while the number of buyers is forecast to shrink.
Below are a few of the factors to watch in
Rocky beginning of the year
Stocks begin to stabilize positively
Spring market rebound
Demographics still favorable – More demand than supply
Prediction: 3.5% – 4% year-over year. Appreciation still creates significant wealth – and the media will get this wrong.
Sales and appreciation moderate slightly, but housing remains
healthy, especially after Q1 for much of the US
Finally, more homes to choose from
One of the biggest complaints among buyers in
the last several years is that there weren’t enough homes for sale. In fact,
the supply of houses hit historic lows in the winter of 2017 and has yet to rebound
substantially. That fueled bidding wars, price increases and frustration.
The supply crunch is expected to ease some in 2019 with inventory rising 10 percent to 15 percent, according to many experts. But the increase will be skewed toward the mid-to-high end of the market – houses priced $250,000 and higher – especially when it comes to newly built houses, said Danielle Hale, chief economist of realtor.com.
That’s good news for move-up buyers, but not
so much for the first-time millennial buyer. “There’s still a mismatch on the
entry-level side,” she said.
If you have more questions about 2019 – and are thinking of purchasing, don’t hesitate to reach out to me, as it would be my pleasure to help!
According to Fannie Mae’s monthly National Housing Survey, 41% of surveyed consumers think it would be “difficult” to get a mortgage approved today with some believing that their credit is too poor. Others think they lack sufficient home equity. Interestingly, that data shows that these concerns are really unfounded!
Per The Mortgage Reports Newsletter, “today’s market gives the opportunity to buy homes — first-time home buyers, move-up buyers, and real estate investors, too.”
As an example, one year ago, consumers told Fannie Mae that home prices would rise 2.6% over the next twelve months. Values gained more than twice that, as it happened.
Rising home values are positive returns on investments
In a modest inflationary environment, increases in home prices can be a good thing. If the price of the home is rising, the homeowner is also increasing their purchasing power, as well as their return on investment.
Historically, if investments are rising and inflation is tempered, the economy is thought to be moving along at a productive and profitable pace. Everybody has heard the phrase “a rising tide lifts all boats” – and that data shows that’s where we are most likely headed. So while the existing homeowners are increasing their purchasing power, the buyers who want to enter the market are also gaining financial strength. It really is a double whammy for buyers and sellers!
Buyer Education of the Current Situation is Key
There is real opportunity for potential home buyers out there – and Realtors and lenders need to help folks understand the implications of underestimating the rise of housing prices. Effectively communicating the value of the market is crucial to supporting the needs of potential buyers and sellers.
If done well, there should be plenty of support for the owners looking to upgrade and the new buyers wanting to enter the market for the first time. Hence, a rising market like this can create opportunities for the entire real estate community, including the new owners.
Product Knowledge is Crucial
Since the election, rates have increased – but have started to moderate over the last few months. Make sure you have a solid relationship with a lender that has command of all the products to help figure out the best option for you!
Thomas Eugene Bonetto
Mortgage Loan Originator
About The Coach
Tom Bonetto has been helping his customers and players achieve their best for nearly 30 years. His goal is to provide both a superior customer experience and tremendous value for both his business associates and his players alike.
This is not a commitment to lend. Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision. Any materials were not provided by HUD or FHA. It has not been approved by FHA or any Government Agency. A preapproval is not a loan approval, rate lock, guarantee or commitment to lend. An underwriter must review and approve a complete loan application after you are preapproved in order to obtain financing.