My goal is to exceed my clients’ expectations, to deliver on the trust I’ve been given with their home financing. I strive to provide a professional, honest and efficient experience from start to finish, setting proper expectations, over communicating status and guiding my client through the process to a smooth closing. By listening to my clients’ needs and desires, I structure the best overall financial picture to match their mortgage goals. It’s an honor to work for you!
Jumbo mortgages are home loans that exceed conforming loan limits which is is $453,100 in most areas of the country.
The interest rate on this loan will be fixed for a stated period of time and will then become adjustable for the remainder of the loan.
A fixed-rate, conventional mortgage offers an interest rate that won’t change for the life of your loan and conforms to federal guidelines for the size of the mortgage and your financial situation.
Rural Development loans are offered in rural areas as determined by the USDA. The USDA’s mission is to help lower income households obtain home loans at reasonable mortgage rates.
VA Loans are mortgage loans made by an approved lender and guaranteed by the Department of Veterans Affairs. VA loans are made eligible to veterans and those currently serving in the military, and often have lower down payment requirements than other types of loans.
FHA loans are designed to make housing more affordable, particularly for first-time homebuyers and are insured by US Dept. of Housing & Urban Development.
Application Fee – An application fee may frequently include charges for property appraisal and a credit report. Appraisal Fee – A fee charged by an appraiser to render an opinion of market value as of a specific date. Required by most lenders to obtain a loan. Processing Fee – This fee is paid at closing. […]
Mortgage brokers are federally licensed firms or individuals who sell loan programs on behalf of lenders. Mortgage brokers facilitate your search for the most suitable mortgage product – but do not process any loans – every loan is sent to the lender (banker) for processing. In comparison, Mortgage lenders (bankers) originates the mortgage loan, loaning you […]
A commitment you obtain from a lender assuring you a particular interest rate or feature for a definite time period. Provides protection should interest rates rise between the time you apply for a loan, acquire loan approval, and, subsequently, close the loan and receive the funds you have borrowed.
A ratio determined by dividing the sales price or appraised value into the loan amount, expressed as a percentage. For example, with a sales price of $100,000 and a mortgage loan of $80,000, your loan to value ratio would be 80%. Loans with an LTV over 80% may require Private Mortgage Insurance.
A one-time charge imposed by the lender to lower the rate at which the lender would otherwise offer the loan to you. Each point is equal to one percent (1%) of the mortgage amount. For example, if a lender charges two points on a $80,000 loan this amounts to a charge of $1,600.
Interest Rate – The interest rate is the cost of borrowing the principal loan amount. It can be variable or fixed, but it’s always expressed as a percentage. Annual Percentage Rate (APR) – The cost of credit on a yearly basis, expressed as a percentage. Required to be disclosed by the lender under the federal Truth […]
The Loan Approval Process is relatively simple but can seem very mysterious if it is never explained to you. The best news ever is that it takes less and less time these days. No matter how fast, however, every mortgage application has to go through these steps:
The Disclosure is designed to give you information about the costs of your loan so that you may compare these costs with those of other loan programs or lenders.
Private Mortgage Insurance is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Private Mortgage Insurance is generally required for a loan with an initial loan to value (LTV) percentage in excess of 80%. In most cases, this will mean that you will have to pay Private Mortgage […]
An escrow account is a separate account that holds funds for the purpose of paying bills such as homeowner’s insurance and property taxes. Funds to cover these expenses are deposited into the account each month along with your monthly payment and then pays the bills for you when they come due. By taking the annual […]