Mortgage market update with Dave Lewis at Home Services Lending

Get Posts About First Time Home Buyers, Poor Credit Mortgage UK and Des Moines Correspondent Mortgage Lenders, Mortgage market update with Dave Lewis at Home Services Lending.

This was recorded on 4/16/2020 during the COVID-19 pandemic. (So, if you’re watching this in 2021 or later, it’s probably a relic of the past and you should move on to another video.)

Anyway, Dave Lewis from Home Services Lending, a local mortgage lender in the Des Moines, IA, area shares how the pandemic has affected the mortgage market. This was a very high level subprime mortgage crisis summary.

His first piece of advice is – don’t freak out. (This is good advice!)

We talked about:

Forbearance, what it is, how it works and should you use it?
Today’s mortgage interest rates
Foreclosures, when you could be at risk and how long it takes
Credit scores and how lending requirements are getting tighter
Chase setting a precedent with their 20% down payment minimum
Various predictions we both had that are based on nothing but hope
How we met at Gigi’s Pilates Studio

Never a dull call when Dave is on. We hope you got lots of great info out of this and if you need to get hold of Dave his number is 515-321-5913. You can visit my website at https://mywrighthouse.com for more information on all things living in Des Moines or moving in Des Moines. And, I’ll have a post where you can read the transcript of this video as well.

Stay safe!
Heather

#GreaterDesMoinesRealEstate

Des Moines Correspondent Mortgage Lenders, Mortgage market update with Dave Lewis at Home Services Lending.

Mortgage market update with Dave Lewis at Home Services Lending. Latest Posts Local Real Estate, Interest Rates, How to Get a Good Mortgage, Mortgage Insurance,
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Home Mortgage Brokers To Get Your Loan

All business are in service to make a profit. However, now things are going backwards and against these home mortgage lenders. He/ she assists you in reducing your debt.

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Re-finance mortgage lenders cater to various parts of the borrowing market. So some lending institutions concentrate on prime loans, sub-prime loans, or both. Monetary business likewise vary in how they structure their rates and fees. So with some careful research, you can discover the least expensive costing loan for your refi.

Just the large numbers of refinance mortgage companies with no closing costs lending institutions that are available suffices to baffle most homebuyers. Start by making a list of possible prospects, and after that crossing off the ones you obviously don’t want to deal with. When you have actually narrowed your list down, invest some time being familiar with what the various lending institutions are using. At the exact same time, check out the bank where you have accounts and see if they provide any bargains to their present consumers. If you don’t feel comfortable with what they are marketing or how they treat you, Cross any of the lending institutions off of your list. In truth, you are buying a very costly loan from them, and you are worthy of to be dealt with in a professional, polite manner.

When you stroll into a bank looking for residential or commercial property investing help, do you ask a bank officer about his or her experience in the field? Not likely! Whether or not the bank officer has the experience required to assist you in this special matter, they will want to get your service. This issue will not occur with brokers. Each mortgage broker has present understanding in his field; all you need to do is search for the candidate and pick the best one. A reference broker professional can offer skilled service customized to your requirements.

You will want to check the quoted percent with what is on your preliminary application files and last loan files to make sure the Monthly Home mortgage Insurance payment isn’t greater than what you were quoted. If it is, get it decreased right away. Ask them to lower your Home Home mortgage Rate by.125% and that need to cover the difference if they will not do that.

Some smart service individuals have actually figured out that there is much less competitors for small loans than for the big ones that everybody appears to combat over. Look for out small balance professionals. Sift through all the advertisements and all the online search engine results and you will eventually discover a lending institution trying to find you just like you are trying to find them.

Working together with a home loan broker is like having a personal banker. These brokers will help you through all the loan procedure. Because it is their job to aid you with monetary requirements, they will do the task perfectly at your convenience. That method you can trust them efficiently. While looking for help from a bank, you can pass by your own banker as bank personnel can change positions frequently. It will be a frustration to discover out that he or she is no longer sitting at that post when you begin to feel comfortable with one bank employee.

Loan Originators have actually taken a beating these previous couple description years and it’s time to grow your mortgage service by producing endless mortgage leads. Do it now. Have a good time. Request for a brand-new wheel barrel for Christmas. You’ll need it to carry all your commissions to the bank!

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Re-finance mortgage lenders cater to various parts of the borrowing market. Not all brokers and lending institutions are credible. Be practical and truthful about your scenario from the start.