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Dec
12
Posted by Larry Cragun
I was just informed that Tanglewood expects their FHA approval next week. The foundation of my loan officer success was FHA. It is a terrific program for the low down payment buyer. WIth rates at such a bottom right now, with the drop in prices coming this week on the remaining 20% of the Tanglewood in Klahanie project Issaquah buyers are in a rare situation. Think lower payments. Here are some features of FHA.
1- Low down payments, 3.5 percent.
2- Closing costs can be paid by seller.
3- Clean credit for the last 12 months. Previous problems OK to have had if cleaned up.
4- Make sense underwriting: “That collection is paid off?” OK, document so and you can be approved,
5- BK just over 2 years ago doesn’t mean automatic denial.
6- Have a co-signer? Bring em on.
7- Gift from family for down payment? Sure.
8- Available from our branch of Loan Network. Sure, you can use us.
9- Rates as good as conventional? Usually very similar.
10- Available with all brokers? Nope
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Nov
15
Posted by Larry Cragun
To date, I have not played up our mortgage experience on our blogs. We have focused on the Undressed blog network and our real estate practice. Kathleen and I owned Homes And Loans, a Washington State Licensed mortgage brokerage. We closed Homes And Loans, the mortgage company, last night - better said we are becoming a branch of Loan Network.
Whereby we once had over 100 loan officers and had months of more than 400 loan sales, we downsized to a few of our most skilled. Managing 100 loan officers is a major effort. Our intention was to stay small.
The current environment for mortgage companies is difficult. The oversight needed to meet the ever changing factors is, in my opinion, too much for a small company. We interviewed three large companies and even considered closing down. Loan Network, one of the States largest mortgage brokers we feel is a great solution.
We move forward with the power of a large mortgage bank and the mind set of being the best solution for the consumer.
I have worked for two banks as a loan officer, Mellon and Guarantee Bank of Milwaukee. They have great oversite but banks do not always have the best loan officers and the best products. Banks aren’t known for having the best rates. Banks are often not your best solution. As the title of this post says, I invite you to let us help you with your mortgage needs. Our little company, becoming a branch has all the current products the market has to offer, that includes FHA loans,
