resources

Shopping for a Mortgage

How to successfully shop for a mortgageWithin minutes of applying for a mortgage, your phone may start blowing up with texts and spam calls from other mortgage companies. They’re all promising a lower rate and a better deal. You’re probably wondering – are they for real? If you’re like me, you want to make sure you’re getting the best deal. You also want to be confident that you’re making the right choice in the people and companies you are working with.Shopping for a mortgage isn’t the same as shopping for shoes online. There’s a lot of fine print, moving parts, and other things to consider besides just the interest rate. Let me show you a few things about how mortgages work that will hopefully help with this decision.The Lowest Rate is Not Always the Best DealEvery mortgage rate quote is a custom quote. There are a few reasons for this:There is not one rate that everybody gets; there is a whole schedule of interest rates, ranging from high to low, and it changes every day.Differences in credit score, down payment, debt ratio, loan amount, property type, location, and some other factors all make a difference in where your rate will fall on the scale.Each borrower has the option to “pay points” to get a lower rate, which means paying higher closing costs up-front to get a permanently lower interest rate.Role of the Loan OfficerYour loan officer will help structure your financing to fit your needs, ensuring you’re comfortable with both the monthly payment and the total amount you need to bring to the closing. For example:If your goal is to get into a house with as little money out of pocket as possible, opt not to pay any points.Consider down payment assistance programs, which may come with higher interest rates but lower upfront costs.Online RatesOnline rates usually fall into one of two categories, and both of them can be wildly inaccurate: Marketing Rates are designed to attract calls. Lenders who post rates online are looking to make their phone ring. Mortgages all pretty much come from the same place. Mortgage-backed securities trade like the stock market, causing rates to change daily. This makes it easy for companies to quote lower-than-market rates to draw you in, then claim the rate is no longer available once they have you on their hook.Averages. Keep in mind that an "average" means some people are paying more and some are paying less. Where you fall on that scale can be a result of any of the factors listed above, including your loan type, credit score and whether or not you are paying discount points. Make sure to notice the average amount of points customers are paying next to the weekly average. Trust in Your LenderIt’s important to deal with a lender you trust. Referrals from friends, family, or trusted financial advisors provide accountability. As a lender with over 20 years of experience, my business is heavily based on referrals. My reputation matters, and if I engaged in bait-and-switch tactics, word would get around, and my business would suffer.Consider the Full PictureWhile it’s possible for another company to offer a lower rate, there are other factors to consider:Everyone’s situation is different, requiring effort, creativity, and knowledge of lending guidelines.The loan process can be turbulent, and you want a competent lender to navigate unexpected situations.Deadlines are crucial when buying a house. Ensure your lender won’t drop the ball, causing you to miss important timeframes.Evaluating Your LenderAsk yourself:Is the lender patient in answering your questions?Are they willing to meet in person and answer calls?Are they clear about the costs of different options?Do you feel comfortable asking questions?Do they make you feel pressured or rushed?Locking in Your RateOnce you have an accepted contract, discuss locking in your rate with your lender. My team provides full access to the rate board and discusses the options with you. This ensures you choose the rate that best fits your needs.ConclusionUltimately, structure your loan so you’re comfortable with the total dollars out of pocket at closing and your monthly payment. Ensure you have enough money to close the deal and can live with the monthly payment going forward.

June 2024 Real Estate Rundown Webinar

Real Estate Rundown is a monthly webinar series about what's happening now in mortgages and real estate. This class was recorded live on June 13, 2024Today's topics include:Recent News & Market StatsRecent Scams & Avoiding Identity TheftHow to Successfully Shop for a Mortgage (and not get tricked)Points vs No Points: How to Decide if Paying Points for a Lower Mortgage Rate is Worth ItRegister and join the future calls live via zoom here.Or you can watch the recordings on YouTube on your time here.If you have any feedback or suggestions for future topics, please email jacksonteam@novahomeloans.com.Thank you and we'll see you again next month!

June 2024 Market Update

Hi there!It's June 1st and I thought I would give you a quick market update!Mortgage rates are sitting just over 7% right now. That’s lower than the long term, 60 year average, around 7.5%, and home prices are still going up in most neighborhoods.  I have talked recently to a lot of people in a lot of different circumstances. If you bought your house in the last couple years, you probably have a higher rate and payment than you want.  If you’ve owned for more than 2 or 3 years, chances are your house is worth a lot more than you paid for it. Which makes it hard to move, even if you really need to because you’re going to pay more for lesser house.Or maybe you like your house just fine and have a low mortgage rate, but a high amount of other debt in credit cards and loans; so some people are feeling the financial pressure , even with a low house payment.All these are real situations. I'm talking to people every day. And the good news is there are all kinds of solutions.  I've had lots of Homeowners able to access home equity to pay off bills and drastically lower monthly debt payments.  First time home buyers get into homes for less than they'd have to pay in rent.  We've helped people downsize affordably. Trading up to bigger homes. Buying rental properties and vacation homes.If you have a situation you’re trying to figure out, I would love it if you would loop me in. I am here to help if I can.  If you see something or hear something and are wondering if you could benefit from it, please ask me about it.  What’s happening in the mortgage business is that a lot of companies are hurting. The last couple years have been really tough with high rates, and we’re seeing a lot of places resorting to some really deceptive marketing tactics just to try to stay in business.You've probably gotten letters, postcards, calls, text messages, emails. Not to mention all sorts of ads on the internet and social media. Just keep this in mind: “Marketing” is designed to draw you in. It's not always outright bait & switch, but there is A LOT of fine print in the mortgage world. It’s easy to get tricked and end up paying way more than you should, or doing something that sounds good but doesn’t actually benefit you.So if you hear about something that sounds really great, send it over and let me take a look at it.  If it’s a legitimate offer, chances are I can do the same thing for you, and I would love the chance to earn your business again. If it’s a scam, I’ll tell you, and if it’s a better deal than what I could do for you, I’ll tell you that too.  Also I realize not every problem is a mortgage problem. I do a lot of networking with other businesses –financial planners, CPAs, attorneys, plumbers, landscapers and pool companies. Whatever you need, I might be able to connect you with someone.Please feel free to reach out!Daniel

Reverse Mortgage Calculator

Wondering how much you might qualify for on a Reverse Mortgage?Our easy-to-use reverse mortgage calculator is a great place to start.Plug in a few details and it will immediately calculate an estimate of how much you may qualify for.Keep in mind that these numbers are estimates only. Please reach out directly for more comprehensive and accurate figures.Everyone's situation is a little bit different, and there is no cost or obligation to a personal 1-on-1 consultation.Please reach out to me directly, and let's get your questions answered!DanielFor more Reverse Mortgage resources and informative videos, please visit https://www.yumalender.com/reverseloan

What is the easiest loan to get?

May 2024 Market Update

Real Estate Rundown is a monthly webinar series about what's happening now in mortgages and real estate. This class was recorded live on May 9, 2024Today's topics include:Recent News & Market StatsStudent Loan Changes That May Help You Buy a HouseA cool strategy for buying Investment Property with Your College StudentSaving Money on your house payment with Buy-DownsRegister and join the future calls live via zoom here.Or you can watch the recordings on YouTube on your time here.If you have any feedback or suggestions for future topics, please email jacksonteam@novahomeloans.com.Thank you and we'll see you again next month!

April 2024 Market Update

Real Estate Rundown is a monthly webinar series about what's happening now in mortgages and real estate. This class was recorded live on April 11, 2024Today's topics include:The latest News & Market StatsReview of current Down Payment Assistance ProgramsNew Mortgage Option for Financing Solar PanelsDSCR Loans & How to Buy Investment Property with no Income DocumentationRegister and join the future calls live via zoom here.Or you can watch the recordings on YouTube on your time here.If you have any feedback or suggestions for future topics, please email jacksonteam@novahomeloans.com.Thank you and we'll see you again next month!

March 2024 Market Update Webinar Replay

Real Estate Rundown is a monthly webinar series about what's happening now in mortgages and real estate. This class was recorded live on March 14, 2024Today's topics include:The latest Market StatsProposed Home Buyer Tax CreditMortgage Rate & Housing Market Forecast5.99% 30 Year Fixed Special OfferingDownsizing with a Reverse MortgageHELOCs & 2nd MortgagesRegister and join the future calls live via zoom here.Or you can watch the recordings on YouTube on your time here.If you have any feedback or suggestions for future topics, please email jacksonteam@novahomeloans.com.Thank you and we'll see you again next month!

Seller Strategies

Navigating the home selling process can often feel like a complex puzzle. That's where I come in, armed with strategies and a creative approach to financing that can navigate through even the most challenging situations.1. Handling Low-Ball OffersOne of the most frustrating things as a home seller is dealing with low-ball offers. Your agent will help you navigate how to respond. Sometimes they are half-hearted efforts by investors to take advantage of you, and sometimes they come from serious buyers who will make a deal if the terms are right. A video example in the sidebar shows a scenario where strategic problem-solving and negotiation put a deal together.2. What happens if the appraisal comes in low? Imagine your asking price is accepted, but the buyer's appraisal comes in $50,000 lower than the agreed purchase price. Such a situation can raise concerns for both listing agents and sellers, potentially derailing the closing process. Through a carefully crafted approach, I demonstrate how to keep the transaction on track, ensuring that everyone proceeds to closing without unnecessary stress. A video example in the sidebar shows a scenario where a low appraisal didn't stop the sale, thanks to strategic problem-solving and negotiation.3. Helping more buyers qualify for your homeMany buyers are qualified only up to a maximum price that may be less than your home's asking price. However, I introduce a distinctive strategy that boosts qualification amounts among buyers. By choosing a lender who thinks outside the box—like me—you might find your home open to more potential buyers, helping you get closer to your asking price. The sidebar features a video that walks you through how this approach works, setting it apart from conventional lender strategies.My Commitment to YouI thrive on finding solutions that not only meet the needs of all parties involved but also pave the way to a smooth and successful closing. Taking the time to explore and implement creative financing options is more than just a job to me—it's a passion.Curious about how these strategies can work for you? Looking for a personalized solution that aligns with your unique situation? Click the link to the side to schedule a call with me. Let's make your homebuying journey a memorable and rewarding experience, together.

February 2024 Market Update Webinar Replay

Real Estate Rundown is a monthly webinar series about what's happening now in mortgages and real estate. This class was recorded live on February 8, 2024Today's topics include:The latest Market StatsMortgage Rate & Housing Market ForecastHELOCs & 2nd MortgagesDebt ConsolidationsHow can I increase my buying power and qualify for the house I want?I’m getting bombarded with spam about refinancing…Is this a good time? Register and join the future calls live via zoom here.Or you can watch the recordings on YouTube on your time here.If you have any feedback or suggestions for future topics, please email jacksonteam@novahomeloans.com. Thank you and we'll see you again next month!

Debt Consolidation Loans

Debt Consolidation RefinanceLet's talk about the benefits of debt consolidation.Imagine a single manageable monthly payment that replaces your high interest debts by consolidating your credit card debts, personal loans and other high interest obligations into one streamlined payment.You can potentially save thousands of dollars in interest over the life of your loan.Here’s how it works:We will assess your unique situation and design a personalized debt consolidation plan that aligns with your financial goals.The convenience of no more juggling multiple due dates and confusing statements.Our program simplifies your financial life, offering you the ease of one single payment a month.This means less stress and more time to focus on what truly matters to you.Don’t miss out on this opportunity to ease your financial strain and set yourself up for a debt free future.Let us take the reigns and guide you toward greater financial freedom.Give us a call to schedule a personal consultation for you.Your journey to financial freedom starts with a simple decision.By choosing our debt consolidation program, you are making a proactive step toward your financial stability and we are here to support you every step of the way.Let’s work together to unlock your potential for greater savings and a debt free life.

How Can I Get a Lower Rate After Closing?

January 2024 Real Estate Rundown Webinar Recording

Today's topics include:The latest Market StatsMortgage Rate & Housing Market ForecastEscrow Account IncreasesHELOCs & Debt ConsolidationsSeller Strategies for dealing with low-ball offersHomebuying Strategies for getting your offer approved and making your home payment more affordableReal Estate Rundown is a monthly webinar series about what's happening now in mortgages and real estate.Register Here to join us live on the next zoom.Access Real Estate Rundown Recordings here

Real Estate Rundown Webinar Invitation

You are invited to our live webinar series about current opportunities in housing, the latest headlines and market stats, as well as unique financing and negotiation strategies. The live webinar is the 2nd Thursday of every month at 10:30 a.m. Arizona time. If you can’t attend live, still register and you will automatically get access to the replay. I hope you will join me! You can register HERE

Market Update Dec 2023

8306 E Paraiso Pkwy (CV2 Lot 37)

The special financing incentive for qualified buyers is offered courtesy of Jacobson Homes with financing provided by our Preferred Lender Daniel Jackson at Nova Home Loans. 

Reverse Mortgage Loan Basics

Who Is Daniel Jackson