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Mortgage Trends
My Loan Programs
One of the biggest mistakes people make in their life, according to CNBC financial analyst Barry Habib, is talking to a mortgage loan officer who will not take the time to:
- Ask about their long and short term financial goals.
- Ask about what payment they are comfortable with.
- Ask about their plan for building equity in the home.
- Ask about their future plans (possiblity of job upgrade or transfer, children, etc.) that might affect how long they'll be in their home.
- Compare the risks of a 30 or 15 year loan versus a 1, 3, 5, or 7 year loan that is fixed for the stated term and then becomes an adjustable rate loan.
I challenge you to talk to 10 different lenders, be they banks, mortgage brokers or internet lenders and ask "what is your 30 year fixed rate today?" Nine times out of ten the loan officer you talk to will not ask you questions related to the five critical areas mentioned above. As Barry Habib says "Obtaining the lowest rate on the wrong program can be a very costly mistake."
I guarantee that I will ask you the questions that allow me to help you choose just the right loan program for your own personal situation.
Here is a brief summary of the most popular loan programs I offer. One of the biggest advantages of being both a Mortgage Banker and a Mortgage Broker is that I can find a program to suit almost every borrower.
- Conventional fixed rate loans - 30, 20, and 15 year
- Jumbo (over $359,650) fixed rate loans, 30 and 15 year
- FHA
- VA
- Adjustable rate mortgages (ARMS) 1 month, 3 month, 6 month, 1 year, 3 year, 5 year, 7 year and 10 year fixed rate periods with 4 different indexes
- 1st time homebuyer programs - Cal Gold, FHA Access, CHFA, MCC, and Neighborhood Advantage
- 100% loans - "0" down payment loans
- 103% and 107% - No down payment, no closing cost loans
- Stated Income loans
- No income, no asset loans
- Sub Prime loans for borrowers with less than good credit
*Each of these loans has different criteria for qualifying. Factors like income, credit score, assets, down payment, job tenure, payment shock, etc. are the areas underwriters consider in determining your qualification for a specific program.
DO YOU KNOW WHICH PROGRAM IS RIGHT FOR YOU?
DO YOU KNOW IF YOU CAN QUALIFY FOR THE "RIGHT PROGRAM"?
*You will, after our "Pre-Approval" Consultation
As you can see I have a loan program to meet every need or solve nearly every problem.
I am a mortgage planning consultant who specializes in mortgage choices and mortgage management. My goal is to have each client be a "client for life." I believe the best way to earn the right to a lifetime relationship with a client is to be sure I place them in the right program initially and then monitor their mortgage annually to be sure that loan program remains the correct one for their ever-changing financial and personal goals and needs.
I have a loan program that's right for you!
Cherry Creek Mortgage
4301 Hacienda Dr. Ste. 120
Pleasanton, CA. 94588
Phone 800-325-2062
Fax 925-520-0231
