Venture Mortgage Guy – Blog Posts
What Are Points and When Should I Pay Them
This is a question that is asked many times. Everyone has heard of points but do you know what they are and if you should be paying for them? Basically, points are up front fees (which I call investment) paid by the borrower to obtain a better interest rate on their loan. One point is equal to 1% of the loan amount. For example, on a $400,000 loan, if you paid a point investment, it would equate … [Read More...]
I've failed over and over and over again in my life and that is why I succeed. Michael Jordan … [Read More...]
Testimonial
Jay was very professional. It felt like he was definitely working on my behalf Tim Mikel … [Read More...]
First Time Home Buyer Tax Credit-In Ventura County
How does up to $8000 tax credit sound after purchasing your new home? This is exactly what will happen if you qualify and file for the $8000 credit as I explain below. This first time home buyer program is available until December 1st, 2009. What is it? It is a tax credit up to 10% of the purchase price of the home up to $8000 whatever is less. To be a first time home buyer you must have not … [Read More...]
If you want a life with no bumps, you'll never learn how to take your lumps. -Kent Krive … [Read More...]
Looking To Purchase A Home
Choosing a home mortgage loan is no small task. As one of your largest financial investments, this is an important decision that deserves full attention. Here's what you need to know...Continue reading … [Read More...]
Understanding Mortgage Rate Quotes in Ventura County
So you are in the market for a mortgage in Ventura County. Maybe you are purchasing a first time home, second home, investment property or just looking to refinance your newly adjustable rate mortgage into a fixed rate with these historically low rates (well, almost historically low rates). What do you do? Well the best approach is to call your mortgage professional that did your past loan, or … [Read More...]
“Regardless of how you feel inside..”
"Regardless of how you feel inside, always try to look like a winner. Even if you are behind, a sustained look of control and confidence can give you a mental edge that results in victory." -Arthur Ashe … [Read More...]
Felt Like You Missed the Boat on Mortgage Rates?
If only I had a dollar for..you know how the saying goes. Rates that used to be 4.5% are now at around 5.5%. And it only took about 15 days to move. What does that mean to a homeowner in Ventura County? It means what used to be a payment on a $400,00 loan at 4.5% has increased $245 per month based on 5.5% mortgage rate. Before I get into all of you in Ventura County who were, should of, was, … [Read More...]
How Purchase Loans Are Made-Step By Step
Loan Search-Put yourself in the hands of an experienced mortgage professional, someone who will help you to determine which financing options best suit your needs today and in the future. Look for an experienced loan officer in a market such as today's environment with all the changes taking place. Loan Application-It is crucial to supply your mortgage professional with as much information as possible, … [Read More...]
Down Payment-How Much Should I Borrow For A Home Loan
This question can sometimes be answered by looking into your bank account. You may be limited to the amount of money you have available for the purchase of a home. The other factor is how much of a home loan can you afford. You may want to put down as little as possible, but the loan amount that you are left with may not make sense from a monthly obligation stand point. While it might be tempting … [Read More...]
Why Use A Mortgage Broker
Today, the use of a professional mortgage broker is one of the key strategies used by sophisticated borrowers. Understand, I have worked for direct lenders (big banks) and as a mortgage broker. You can find professional loan officers in both environments. But the topic of this article is why use a mortgage broker, therefore let me continue. A mortgage broker is an independent real estate financing … [Read More...]
How To Get Started On Your Home Purchase
Thinking of buying a home. Is this your first home or has it been awhile since you purchased a home? Either way you can get a jump start on the process by doing a few things in advance. To start with, the lender will need personal information to verify employment for you and your co-borrower (if there is one). This will include work address, phone number,and contact person who can verify your employment. … [Read More...]
Pre-qualification or Pre-approval?
I am asked many times what is the difference between pre-qualification and pre-approval and why do I need to have one or the other? Let's start with what is the difference. Pre-qualification is the starting point in your search for mortgage financing. A quick snapshot is taken which includes income, existing debt, savings, length of employment, etc. All of these factors will be analyzed to determine … [Read More...]
Just wanted to thank you again for your expertise and great cooperation for my clients loan. It is a pleasure working with you. Jan O. … [Read More...]
We just wanted to thank you for all your hard work and dedication. Working with a person like you made things easier-we couldn't have done it without you. George and Lupe G … [Read More...]
Why You Need to Have Your Mortgage Under Management
In today's environment there are many changes to the mortgage guidelines that even someone in the business has a hard time keeping up with. As a consumer, you need to be plugged into a professional who will monitor those changes and keep you posted as to how you might be able to take advantage of the mortgage changes. Let me give you a couple of examples. Just in the last week there has been two … [Read More...]
Part 2-Shopping for the Right Rate
Ok-you now understand what to look for in a loan officer based on my previous post. Now let's talk about rate shopping. But, let me be clear, shopping for a rate and not taking in consideration the person or entity that will orchestrate the rate to the finish line is crazy. I have seen to many times, people changing rates from one lender to another only to become very frustrated due to excess fees, … [Read More...]
