April 14, 2012
Whitney: What is the first step in applying for a home loan or initiating a refinance?
Angie: Contact me! Call me, e-mail me, text me, or send me a message on facebook! My team and I do everything we can to make it the process easy for the borrower. My cell is 859-333-4422
Whitney: When a borrower reaches out to you for the first time, what is usually accomplished after the initial contact?
Angie: It depends on their needs. We are happy to answer questions, e.mail or fax a good faith estimate, and/or provide a pre-approval letter (given that they are pre-approved). Some people want to know how much house they can afford, while others just want to know current interest rates.
Whitney: Speaking of interest rates, what are they? For example, if someone is curious to know the rate for a 30 year fixed mortgage, what would you tell them?
Angie: Interest rates are at historic lows! I’ve quoted as low as 4% ; however, rates are always changing. There are several factors that determine one’s rate…like credit score and the loan to value ratio…
Whitney: You mentioned credit score. How can one improve credit score to either be approved for a loan or to get a lower rate?
Angie: First, they need to know what is on their credit report. Some people don’t realize they have collections or outstanding debt. If collections are on the report I can provide phone numbers where the outstanding balance can be addressed. In some cases we can do areconsideration if we learn certain debts have been reconciled. Other times, it just takes time and regular payments to boost the score. I am happy to assist and advise any potential borrower with their credit. I want people to take advantage of these awesome rates!
Whitney: I agree! It’s a great time to buy!
Angie: Exactly… and a really good time to refinance too! I recently made a switch from Bank of America to Benchmark Mortgage. Moving to a small environment is better in this real estate market. I like to be able to speak directly with the underwriters in a faster, easier manner. This helps expidite the process, thus making my clients happier.
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