Loan Officer Gustan Cho
Loan OfficerForum Replies Created
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John, home prices in 2008 were hyperinflated. However, home prices today are hyperinflated on steroids. I know of a person who purchased a home in 2017 for $224,000 in Niles, Illinois. They recently sold the home in 2023, May for $564,000 and closed. My parents purchased their home in 2000 for $200,000. Sole it in 2017 for $360,000. The same very house in Tampa, Florida is worth $700,000. To add to the major damage, rates were at 2.5% in 2019-2020. Mortgage rates shot up to 8% this year. Inflation rate is supposed to be at 3%. A 12 pack of diet coke was priced at $3.99 a year ago. It is at $12.99 today. I can continue on and on and you do not have to be a genius brain surgeon to figure out that these numbers and the economy is getting manipulated.
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I highly recommend Brent Norkus of Goosehead Insurance. Goosehead Insurance has the lowest premium on homeowners insurance. I had one client in Sacramento, California with a quote of $2,500 for a small single family home. I got a quote from Goosehead Insurance and their quote on homeowners insurance for the same policy, the premium was $1,200. If you are a loan officer with a borrower with higher debt-to-income ratio, give Goosehead Insurance a try.
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No, mortgage interest rates can vary among different lenders. Each lender sets its own rates based on a variety of factors, including their cost of funds, operational expenses, risk tolerance, and competitive positioning in the market. Additionally, individual borrowers’ financial profiles, credit scores, and loan characteristics can influence the specific rate offered by a lender. Do not assume that just because the mortgage loan is a government-backed loan such as FHA, VA, or USDA, all lenders offer the same rate. That is absolutely not the case. It is wise to shop for the lowest mortgage interest rates and the best terms.
To find the best mortgage interest rate for your situation, it’s recommended to shop around and obtain quotes from multiple lenders. This can help you compare offers and choose a mortgage that aligns with your financial goals. Keep in mind that while interest rates are a crucial factor, you should also consider other aspects of the loan, such as fees, terms, and customer service, when evaluating different lenders. Working with a mortgage broker can also be helpful, as they can assist in navigating the mortgage market and finding competitive rates on your behalf.
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Mortgage interest rates have substantially dropped the past two weeks. The Feds did not increase rates in the past six months. All signs indicate a refinance boom is coming. Many people who have rates in the mid to high 7% can start thinking about refinancing now. However, the key to get lower mortgage interest rates is higher credit scores. 740 plus credit score borrowers can get mortgage interest rates in the low 6% on FHA and VA loans. A little higher on VA loans.
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What is lab grown meat? I like to know more about this. Something tells me this is not right. We will see.
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In Illinois as well as most of the other states, you can get a DUI driving under the influence of drugs or alcohol if you are intoxicated and sitting in your car with the engine off. You do not need to have the ignition key in the ignition to be charged. You can have the key in your pocket and sit in the back seat to sober and still get charged with DUI. If you think this is bad, you can be charged for DUI if you are not in the vehicle and outside of the vehicle. The only state that I know of this rule not applying is California. California, as far as I remember, you need to have mobility for a law enforcement officer to charge you with driving under the influence.
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I will cover this topic in more detail interesting coming days.
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Wow!!! I guess I need to take my type 2 diabetes seriously. Not eating chicken regardless.
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AXEN Mortgage is the sister company of NEXA Mortgage and is the correspondent lending division of NEXA. AXEN Mortgage is the mini-correspondent arm of NEXA Mortgage and is headed by Michael Neill. Phenomal platform, total transparency, and Mr. Mike Neill is hands down one of the best leaders I have worked with in the mortgage industry. AXEN Mortgage is great. We get to do both NEXA and AXEN. With AXEN, we have a lot of flexibility. John, what are the requirements to become AXEN Mortgage? Is there a production minimum or volume history?
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