Saturday, October 29, 2011

FREE CREDIT RESTORATION

I have just signed up with a new credit reporting agency to run all of our credit reports. They offer a service where they will give any potential customer a list of helpful hints and advice on how to improve and restore someone's credit score. If a home buyer follows the advice step by step, they will be able to buy a home any where from 2 months to 24 months later. The time frame is contingent upon the severity and depth of the buyers credit and the amount of work needed to bring it to an acceptable level. I've seen scores improve by 15 points in 5 days and as much as 80 points in a matter of months. More and more customers need the extra help that I can give to help them to become buyers and realize their dream of homeownership. For more information, or to refer a potential buyer, please feel free to contact me on my cell phone at 484 695 5972.

Andy Williams
President
Abacus Regional Mortgage
NMLS # 118317
licensed by the Pennsylvania Department of Banking

Sunday, October 16, 2011

Do You Think Being a Mortgage Broker Gives Me an Advantage Over Other Lenders?

How many times has one of your clients, or you personally, been told that they can't get approved? As a Mortgage Broker, I have access to many different lenders and an innumerable amount of lending programs. I do business with large to small Mortgage Companies, Banks, and even Credit Unions. Each type of lender offers something very unique. For example, one of my credit unions offers PMI insurance rates 41% lower than banks and mortgage companies because they are a non-profit organization serving their members. This savings is passed on to my customer. Working with small local banks gives me an advantage. I can offer lower interest rates on many types of loans than the big banks like Citibank, Chase, Bank of America and Wells Fargo can give to their customers. Many of these small local banks don't sell their mortgages on the Secondary Market, they portfolio their loans. This allows me the distinct advantage to offer creative underwriting. This means that I can do certain loans that others couldn't dream of making to my customers. I offer the unique opportunity of one-stop shopping. If I have a loan in which one lender doesn't like a buyer's credit, or configures their income a certain way, I can package the loan application, ship it to another lender without any additional monies spent. This makes things easier and less stressful on the buyer, seller and realtor. Do you think it could be worth trying us for your next mortgage application?

Andy Williams
President
Abacus Regional Mortgage
484 695 5972

Sunday, October 9, 2011

I HAVE REDUCED PMI INSURANCE RATES FOR YOUR BUYERS

I recently signed up to do business with a credit union in California who writes loans in Pennsylvania. One of their unique products offered to their customers is reduced PMI insurance. Because they are a credit union, as opposed to a bank or mortgage company, they get reduced rates on PMI insurance from two different PMI insurance companies. The average reduction in monthly payments is 41% less than what the large banks and mortgage companies charge for PMI insurance. The payment savings has made the difference in some people qualifying for a larger home than they otherwise would have been able to do. Plus the credit union offers fantastically low rates that match or beat my lowest banks and mortgage company's rates, too. For a PMI chart please contact me at 484 695 5972.

Andy Williams
President
Abacus Regional Mortgage

Saturday, October 1, 2011

Ask the "Mortgage Man": USDA Announces changes to PMI insurance

Ask the "Mortgage Man": USDA Announces changes to PMI insurance: Effective today, October 1st, the USDA has announced the changes to their up front Funding Fee. The amount of up front insurance premium th...

USDA Announces changes to PMI insurance

Effective today, October 1st, the USDA has announced the changes to their up front Funding Fee. The amount of up front insurance premium they require to be financed in with the mortgages was reduced from 3.5% to 2% of the purchase price. In addition, they will impose a .3% annual fee which will be added to the borrowers monthly payment on a monthly basis. As an example, if someown is buying a home for $100,000, they will be financing
$ 2,000 and incurring a monthly expense of $ 25. These changes are more attractive for the borrower making this type of financing an effective way to sell real estate. They will still finance 100% of the sale price, allowing the borrowers to finance the closing costs to a maximum of 6% of the selling price. The seller can pay the closing costs if the house doesn't appraise high enough to allow the buyers to finance them. This is another positive sign of the economic recovery in the mortgage industry.

Andy Williams
President
Abacus Regional Mortgage
484 695 5972