Tip to saving for a Down Payment!
Find the best way to save for your down payment
Instead of putting your money into risky investments such as stocks or REITs, put your down payment savings into a safer place such as a savings account or a certificate of deposit.
Happy Aloha Friday!
Any recommendations on restaurants to try to #supportlocal?
Lunch a while back from @piggysmallshawaii 😋
Thank you so much to @terryalessi and @amerisbank for this personalized cup!! Please check them out for all of your financial needs!
Raise that credit score!
A good credit score is very important when applying for a mortgage. Sometimes I help my clients with advice for their situation to raise their credit score.
Tip: Call your credit card issuer and ask when your balance gets reported to the credit bureaus
Credit Utilization is the amount of credit you’ve used compared to the amount of credit you have available.
It’s best to have a ratio less than 30%. To boost your score more quickly, keep your credit utilization ratio under 10% before the payment closing date
@duncanmorganyo
What is Good Debt and Bad Debt and why does it matter?
Bad Debt: Credit card debt and similar types of debt
Good Debt: Money owed for things that may assist in building wealth, such as student loans or mortgages
Yup mortgages are considered to be Good Debt!
Mortgage debt is considered a safe form of good debt since payments contribute to increasing the property's equity.
@duncanmorganyo
Hi there! If you're new to my social, my name is Everett and I am a loan originator in Oahu (but I can help with mortgages on all of the islands)
The best part of my job is being able to help my clients qualify for a mortgage they didn't think they could get to become a homeowner or refinancing to a lower rate which provides a lower monthly payment!
Message me anytime with questions about homeownership or mortgages, I've been in this industry for over 7 years - happy to help any way I can 😊
Are you in the market for a new home?
If so, most realtors require a pre-qualification letter in order to scheduled showings for their listings during this pandemic.
If you need a pre-qualification letter quickly, use the link my bio to apply easily! 😊
@nohohome
Congrats to my client for closing on their refinancing! 🎉 Thank you for the opportunity to help you! 😊
Benefits to using a local mortgage professional:
We do well at navigating that particular market's nuances, and factors that may require special attention. Megabanks and rocket lenders have no way of understanding these local complexities.
We have many partnerships with local appraisers, title companies, and real estate agents so our clients can benefit from having a strong network behind every transaction
There are regionally available specialized loan programs for home buying and refinancing. Non-local mortgage pros won't know about these special programs.
Looking for a mortgage professional to help with your next home purchase or refinance? Look no further and call/text me anytime with any questions 808-256-3000 😊
@dannystonephotography
Congrats to my client for closing on her mortgage for a new home! 🎉 Thank you for the opportunity to help you! 😊
Thinking about buying a second home? Its a great time because of the low rates but how do you know what the down payment needs to be depending on the loan?
A second home is one that you intend to live in aside from your primary residence --like a vacation home or other property that you visit regularly.
Generally the Conventional Loan is available for second home purchases with a 10% down and a second VA loan (0% down requirement) may be applied for in the case you want to use the second home to rent out.
@castlecookehawaii
Thank you for this 5 star review! 😃 I appreciate the opportunity to help you through the entire mortgage process! 😊
Huge thank you to my clients for giving me these wonderful gifts! Yum 😋 I'm so grateful for the opportunity to help you in anyway I can 😊
Congratulations to my clients for closing on their refinance! 🎉
Thank you for the opportunity to help you through the entire process! 😊
Thank you for this 5 star review! I appreciate the opportunity to work with you! 😊
Many homebuyers are on the rush to buy their homes especially during these times because of the low-mortgage rates. Many home sellers are holding off on selling because of the pandemic.
If you have any questions about getting pre-qualified to buy a home, call or text me at 808-256-3000 anytime 😊
@hawaiimagazine
Happy Halloween! 🎃 What are you doing to celebrate this year?
Refinancing is a mortgage which pays off an existing loan and replaces it with a new one.
Consider refinancing in lowering your interest rates. Determining the right time to refinance is a major decision that you have to make.
Once you’ve decided, make sure you’re able to obtain significant savings, increase the rate of your home equity and decrease your monthly payment.
@hawaiisluxuryhomes
Congrats to my client for closing on her mortgage and new home! 🎉 So thankful for the opportunity to help you! 😊
VA Loans are an excellent option for those that qualify, with rates as low as 2.75%, a streamlined process for refinancing, 0% down payment, no mortgage insurance requirements, and those with credit scores as low as 550. 🇺🇸
To qualify, you must meet one of the following:
You have served 90 consecutive days of active service during wartime, OR
You have served 181 days of active service during peacetime, OR
You have six years of service in the National Guard or Reserves, OR
You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
@sebassromero
Congrats to my client for closing on her refinance! 🎉 So thankful for the opportunity to help you! 😊
As a mortgage originator, I determine how much you can afford by analyzing your assets, income, and debts.
They use these factors to determine your debt to income ratio, which they generally want below 43%.
I'll also look at your credit score, and the higher it is, usually the more you can qualify for.
@choicehealthbar
When looking to purchase a home, a common question is how much can I afford?
In a hot housing market, like we are currently in, the first step in the process should be pre-qualifying for a loan. There are a couple of reasons why you should do this.
The first is it signals sellers that you can move quickly when making an offer. The second is going through the pre-qualification process will help you decide how much you can afford.
I look at the following to determine your pre-qualification amount:
-Assets
-Income
-Other debts
-Credit score
No matter what amount you are pre-qualified for, you have to be comfortable that the monthly mortgage and closing costs (don't forget about those) will fit within your budget.
@hawaiiislandtimes
Happy New Year! 🎆🎉 🍾 🥂 I hope 2021 is a great year for you! Thank you to my clients, team, friends, and family for being a part of my life and for allowing me to help you as much as I can (with anything mortgage-related) 😆
As a result of #covid, many in Hawaii and around the country are unemployed and unable to make their mortgage payments or pay their rent.
To help, there is a process called forbearance. This process does not mean you don't make a payment but that your lender allows you to make that payment at a later date – it doesn't eliminate the payment; it just postpones it.
If your loan is with Fannie Mae, Freddie Mac, or is an FHA, VA, or USDA loan, you can request forbearance for up to 6 months.
Under certain circumstances, you could even extend the forbearance period for another 6 months after that.
@mihowhawaii
Congrats to my client who closed on a VA Loan! 🎉
I appreciate the opportunity to help you through the process 😊
When you apply for a mortgage or are looking to refinance your mortgage; I will make sure you can afford it by evaluating your debt-to-income ratio (DTI).
Your DTI is a comparison of your total monthly debt payments (mortgage, credit card debt, auto loans, student debt, and any alimony or child support, etc.) to your before-tax income.
If your debt-to-income ratio is too high, your mortgage or refinancing application could be turned down.
Any questions? Always happy to help, message me anytime 😊
@miwa_k58
Congrats to my clients who closed on their VA Refinancing! 🎉
I appreciate the opportunity to help you through the process 😊
What's an ARM?
No not an 💪
😂
An adjustable-rate mortgage (ARM) is one where the rate changes (adjusts) on a specified schedule after an initial "fixed" period.
Suppose you know that you are only planning on living in a property for a short period of time (generally less than the "fixed" period). In that case, the benefits of an adjustable-rate mortgage are improved, allowing you to take advantage of the lower interest and payment benefits.
This can be a gamble, though. If your situation changes and you stay in your home past the "fixed" period, your interest and payments can increase significantly.
Thank you to my client for this yummy gift! I'm so lucky to have such wonderful clients and appreciate the opportunity to help you 😊