Why Does Getting a Home Loan Have to be Such a Pain in the @$$???
I came up with this after this client told me the story of dealing with a Big Bank and the largest online lender in the nation and having such a terrible experience, she didn’t even want to talk to me. I tried to explain the difference and then I realized – I NEED TO EXPLAIN THE DIFFERENCE!!! As an Independent Mortgage Brokers That Work for the People ™ we are here to help educate the buyer on the market and strategies to negotiate a win that retail lenders just don’t know how to do.
The Fresh Home Loan Home Buyers Concierge Program
The Fresh Home Loan Home Buyers Concierge Program is an exclusive program from Fresh Home Loan Inc. California’s Premier Mortgage Brokerage. We have been working with First Time Home Buyers, Move Up Home Buyers, Move Down Home Buyers, and Investors for 20+ years and we known for knowing the real estate negotiation process in California and its micro markets, better than many real estate agents in the field.
What is The Fresh Home Loan Home Buyers Concierge Program?
The Fresh Home Loan Home Buyers Concierge Program is a full-fledged home loan approval system created by Garrick Werdmuller, President and CEO of Fresh Home Loan Inc that will make a home buyer preapproval, as thorough and strong as possible to be as possible in any competitive market. We have even beaten all cash offers in competitive situations numerous times.
- – Credit Report Review
- – Home Loan Consultation Reviewing Rates, Closing Costs, and Monthly Payments
- – Underwritten Pre-Approval Letter
- – 21 Day or Faster Close* (is our goal but certain transaction types and market conditions may take longer)
- – Clear Communication with an Industry Professional
- – 30 Day Mortgage Refresh Consultations and Updates
- – The Ability to Write Non-Contingent Offers
- – Call to the Listing Agent on Every Offer when Applicable
- – Rate Lock Re Negotiations if Rates Go Down in Escrow
- – Refinance Alerts After Closing When Mortgage Rates Drop
Most big box lenders, online lenders, and mortgage banks will run a credit report and send you a letter with little explanation about the process of buying the most expensive investment of your life. We know how to want to serve you whether its your first time or your twentieth time purchasing a property and understand the intricate needs of every situation from a first-time homebuyer to a real estate investor, to a senior looking to age in pace with a reverse mortgage.
What we offer is a full 360° Pre – Approval.
Credit Report Review
After running credit, we will provide a comprehensive credit report review. This crucial step in the mortgage application process involves a thorough examination of the client’s credit history, enabling the broker to assess their creditworthiness and identify areas for improvement. This personalized advice not only enhances the client’s chances of securing a favorable mortgage rate but also empowers them with a deeper understanding of their financial health.
Home Loan Consultation
During this step of the home loan process, we schedule an appointment, either virtual or face to face, to review interest rates, payments, closing costs as well as answer any and all questions the client has. During this process, the mortgage broker ensures that the client is well-informed, providing clear explanations and answering questions, empowering them to make informed decisions about their mortgage. Ultimately, the loan consultation process serves as a valuable roadmap, helping clients navigate the complexities of mortgage lending and secure the most suitable loan for their unique circumstances.
Underwritten Pre-Approval Letter
There are many different levels of home loan preapproval. An Underwritten Preapproval means an underwriting or certified loan processor has reviewed your income and run your file though the guidelines to get what is known as an automated underwritten approval. An underwritten pre-approval letter for a home buyer is a document that carries significant weight when writing offers on homes. It is the result of a thorough examination of the buyer’s financial history, creditworthiness, and overall eligibility for a mortgage loan. This letter signifies that the buyer’s financial background has been rigorously assessed by a mortgage underwriter, providing a higher level of confidence to both the buyer and the seller.
21 Day Close or Faster
While a fast closing may not always be required, in competitive markets, it can be crucial to getting your offer accepted. Many sellers have their houses staged and ready to be sold fast and at top dollar. A fast close will make or break your offer. Quick closings can prevent potential complications, such as interest rate fluctuations or changes in the housing market, which might affect the deal. Furthermore, a fast close can be crucial in securing a desirable property, especially in competitive markets where multiple buyers may be vying for the same home.
Believe it or not, the number one complaint from both home buyers and real estate agents is lack of communication. Clear communication from a mortgage broker to a homebuyer is paramount for a successful and stress-free home buying experience. Firstly, it ensures that the buyer fully comprehends the intricate mortgage process, making it easier for them to make informed decisions. A mortgage is a significant financial commitment, and clear communication helps the buyer understand the terms, rates, and any associated fees, reducing the risk of unpleasant surprises down the road.
We provide an update to all parties of the transaction weekly while in escrow, updating them on status, timelines, and any unforeseen issues that can pop up in any real estate transaction reducing the risk of unpleasant surprises down the road.
Mortgage Refresh Consultations
Sadly, not every home buyer gets their first offer accepted. For this reason, we provide updates to the client in an ever-changing interest rate environment. This gives Fresh Home Loan Inc an opportunity to update the home buyer with any industry changes, interest rate changes, as well update any documentation that may be needed before writing the next offer.
This very important and under-utilized step is imperative for a home buyer to keep their finger on the pulse of the market.
In competitive markets, and in multiple offer situations, it can take what is known as a non-contingent offer to got your offer accepted. A non-contingent offer in real estate is an offer to purchase a property that does not depend on specific conditions being met. In other words, it is a straightforward and firm commitment to buy the property as-is, without any contingencies that would allow the buyer to back out of the deal under certain circumstances. Non-contingent offers are typically more appealing to sellers because they provide more certainty and a quicker path to closing. Here are some key features of a non-contingent offer:
Financing: In a non-contingent offer, the buyer is stating that they have the necessary funds or financing in place to complete the purchase. This means they are not making the offer contingent on securing a mortgage or financing approval.
Appraisal: There is no contingency for the property’s appraisal value. Even if the appraisal comes in lower than the offered purchase price, the buyer is still committed to proceeding with the purchase.
Home Inspection: A non-contingent offer does not include a contingency for a home inspection. Buyers are agreeing to buy the property in its existing condition without requesting repairs or credits for any issues found during an inspection.
Sale of Current Home: Buyers making non-contingent offers are not dependent on selling their current home before closing on the new property.
Non-contingent offers are typically stronger and more attractive to sellers, especially in competitive real estate markets. However, they also carry more risk for the buyer, as they are committing to the purchase without any safety nets or opportunities to renegotiate terms based on appraisal or inspection results. Buyers considering non-contingent offers should ensure they have thoroughly assessed the property and their finances to mitigate potential risks.
Call to the Listing Agent when Applicable
Your Mortgage Broker will call the listing agent to see if there are any questions or concerns to help strengthen the offer. There have been multiple times where we have won the offer, especially when competing against all cash offers, because we have called the listing agent.
Rate Lock Re Negotiations if Rates Go Down in Escrow
When a homebuyer works with a retail lender and locks in an interest rate, that buyer is indeed LOCKED IN, if rates go down significantly while the home buyer is in escrow, the buyer is stuck with the rate they locked in at with that lender. In order to get a lower rate, the homebuyer would have to apply with another lender, order and pay for another appraisal, submit all their documentation over again, just to take advantage of a market shift in their favor. We have the ability to renegotiate and lower our rate while in escrow. This alone is reason enough to choose Fresh Home Loan Inc as your Mortgage Broker.
Refinance Alerts with No Closing Cost Options When Mortgage Rates Drop
We keep in communication with our clients even after the loan closes to ensure if any questions or concerns arise, we are a valuable resource to our past clients. One of these services is notifying our past clients when we do have market swings and interest rates are in a favorable position to refinance. Not do we have access to low wholesale mortgage rates, but we also have aces to low and no cost refinance options that can be extremely attractive in low interest rate markets.
It is through experience and expertise that we have built the best system possible to give home buyers the education, guidance, and resources, to take advantage of every opportunity in the housing market. To get started hee is the official needs list and application link:
Items needed for your loan application:
– W2’s for 2 years
– Tax returns for 2 years. Complete all pages.
– 2 months bank statements (all pages)
– Most recent paystubs covering 30 days
– Copy of drivers license
Link to our online application:
You may also contact Garrick Werdmuller Directly:
Fresh Home Loan Inc
If you would like to get social:
All loan approvals are conditional and not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates and [products may not be available to all borrowers. Rates subject to change according to market conditions and agreed upon lock times set by borrower. Fresh Home Loan Inc. is an Equal Opportunity Mortgage Broker in California. This licensee is performing acts for which a real estate license is required. Fresh Home Loan, Inc. is licensed by the California Department of Real Estate #02137513 NMLS # 2124104