Where can I get a down payment ? What about VHDA ?

May 31, 2010

Kevin Warren Company: McLean Mortgage Corporation E-mail: Contact Kevin Warren (McLean Mortgage Corporation) Website: http://www.kcwarren.net Cell Phone: (757) 237-4920

About Us:  As a Senior Loan Officer at Mclean Mortgage Corporation, my main priority is providing personalized, friendly, customer service to my customers. I carefully select the best loan options to present each client from an inventory of more than 300 home loan products. I will find you the best loan program for your family's needs now and in the coming future. I am proud to be a loan officer for MClean Lending Corporation, and I look forward to fulfilling your home financing needs. I want to be your personal mortgage consultant for life.

Home Loan Down Payments When obtaining a home loan or mortgage, most loans require a down payment- FHA requires 3.5% down VHDA is a state program that allows you to finance the 3.5% down payment for FHA loans VA loans (military members) have a $0 down payment requirement Conventional loans usually requires 20% down Investment property loans require 20% at least down Sources for down payments: Checking/Savings account 401k loans Vehicle equity loans Other property equity loans (jewelry, art, etc.) ***Not allowed from unsecured funds- credit cards, unsecured/signature loans Gifts from Churches / Non-profit organizations / Employers Gifts or loans from family members

Interest Abatement Features: If a Seller is willing to give maximun Closing Cost Assistance, it should cover all closing costs and pay the first 6 months of interest on the mortgage payment. This allows you to build your savings back up, or repay car, 401k, or family loans.


Why does my lender ask me a million times for the same thing ?

May 25, 2010

Why does it seem that my lender has no clue of what they are doing ? Are you in the middle of buying a home or selling a home and it seems that every time you turn around they want more items ? James and I talk about why this happens. James does a great job explaining why this happens. There are 3 or more people that look over your loan file, each person might have their own questions. Many sales are taking more than 30 days to close if this happens you will need to have updated information.

Call James today to talk more about getting a loan on your next home.

James Walrod. 757-351-6408 james.walrod@union-mtg.com NMLS 1907, NMLS 260324


What is title insurance do I need it ?

May 24, 2010

What the heck is title insurance ? Shannon Blatt talks about some reasons why using the right title company is essential to a smooth closing. Why do I need title insurance and what does it cover ? Do I need a law firm ? Name Shannon Blatt Company Title Concepts LLC E-mail Contact Shannon Blatt (Title Concepts LLC) Website http://www.titleconcepts.net Office Phone (757) 819-6682 Cell Phone (757) 705-1574 Fax (757) 819-6683 Address 870 Greenbrier Circle, Suite 202, Chesapeake, VA, 23320


Weekend update, Upcoming shows

May 15, 2010

Join me Wednesday at the Daily Grind in Town Center for a live broadcast.