Tips For Finding A Cheap Mortgage
Although the national housing market has taken a beating in the last few years, there are still plenty of tempting incentives available for home buyers looking to find cheap mortgages. But there remains a bewildering array of questions that confront any buyer in today’s market. Which direction are interest rates heading? When is the best time to buy? What steps do I need to take to secure a good interest rate? This article will present a few tips to help you find answers to these questions.
Know the Real Estate Trends
You can glean a lot of useful information by examining the recent trends in real estate sales, and using the patterns to guide your decisions. Of course no one can predict the future, so you shouldn’t worry yourself about trying to time your real estate transaction perfectly. Simply take note of the trends, and if it seems likely that they will continue in the same direction, then factor that information into your decision.
Comparison Shopping
Mortgages are consumer products, just like cars and toasters. Like everything else, it pays to shop around. The problem is that toasters are very simple products compared to mortgages. With mortgages there are so many variables to consider that you can easily become overwhelmed and give up, simply choosing the first mortgage lender that says yes. This is where a mortgage advisor can help you. Advisors are trained professionals that know the mortgage market very well and can help you to locate the best mortgage deals out there. Continue reading
What Every Holder Of Tax Lien Certificates Should Avoid
One of the more interesting ways to invest in real estate is through tax lien certificates. In tax lien investing, you’re not really investing in real estate, but if the homeowner never pays their taxes, then then you may end up having a new home. Sounds interesting, doesn’t it?
There are many individuals who don’t like paying their taxes – to be more specific, real estate or property taxes. The holder is entitled to certain guarantees when they purchase a tax lien certificate. First of all, there will be a rate of interest on the lien’s outstanding balance. The delinquent taxpayer will pay the interest rate on the taxes as well as the taxes due. The interest rate refers to the money which is owed to the holder of the certificate. Second, the holder of the tax lien certificate is entitled to the deed on the property if the taxpayer doesn’t pay the outstanding taxes within a pre-determined time frame. Continue reading
Market Update from San Diego Mortgage Professional Felisa Schlosser
MySanDiegoMortgage.com is excited to introduce you to Felisa Schlosser of Prospect Mortgage. Not only is she well informed and an advocate of her clients, but she’s got really cool artwork!
Tell us something fun about yourself and your business:
I love what I do for a living. It’s challenging, exciting, rewarding and there is never a dull moment. I feel like I was made for this business. And I am darn good at it! In fact, there is kind of a joke in my office and I’m occasionally teased by my co-workers and managers because they know that I believe that I am the best mortgage loan originator in the business. But it’s true, I can’t help the way I feel, now can I?
I love hiking, photography and listening to music. I enjoy studying languages and am currently studying Spanish and German.
How would you describe the current San Diego real estate market?
We are at an all-time high for home affordability in San Diego. That means that my clients range anywhere from grocery store checkers to union workers, county and city employees to the active military. San Diego real estate is on sale and that, combined with such low interest rates, is why it is an incredible time to buy here.
Are there any particular obstacles that are challenging consumers of San Diego mortgage loans?
Yes! Anyone that is looking to purchase a condo with either an FHA, VA or conventional loan may face some obstacles this year. Investors are going to have the most difficult time obtaining financing for condos. In my opinion, Fannie Mae’s HomePath® financing loan is going to be the easiest way to get an owner occupant or an investor into condos this year.
What are currently the most popular San Diego home mortgage products?
Without a doubt Fannie Mae’s HomePath® financing loan and FHA’s 203K Renovation Loan are San Diego’s most popular mortgage options right now. Fannie Mae HomePath® financing is great because it offers a low down payment of 3% for owners that are going to occupy, plus no mortgage insurance, and no appraisal. We can get investors into a property with only10% down! This is a phenomenal option that even my REALTOR® partners are using to build their own portfolios.
The FHA 203K Renovation loan is not a new loan but it is becoming a very popular option especially on those bank-owned properties that need a little or a lot of work.
Another favorite of mine is CalHFA’s CHADAP loan. Did you know that a first time home buyer may be able to get into a home with only 1% down? Yeah, incredible isn’t it?
Why would someone choose to work with you?
Buyers want to work with me because I am honest and trustworthy. I will not put someone in something that is bad for them. I am a great communicator and information gatherer. I take the time to fully understand (coupled with a background of knowledge to ask the right questions) my client’s needs. My pricing is fair and equitable. It is neither too cheap or too much. The service is exceptional. I am very attentive. I stay incredibly calm through all the bumps that are inherent with the business. And when I do call my buyers and REALTOR® partners with a problem or issue, I have already done the research to present them with solutions. I am very educated on the market, the programs, what’s available and what is possible. My REALTOR® partners do not worry that their clients have missed out on something because I, along with my company, are on top of what is available. I look at the client’s needs and the whole process as a whole and understand completely the needs and requirements of everyone involved in a transaction. For instance, I understand the timelines and the importance of meeting the closing date on time. That’s a really big deal. And finally, most importantly, it’s never about me. It is always about the client.
Please feel free to leave a comment below, and contact Felisa Schlosser directly:
felisa schlosser
mortgage loan originator
nmls license #255612
prospect mortgage–a direct lender
4275 executive square | suite 700 | la jolla | california | 92037
e: felisa.schlosser@prospectmtg.com
d: 858.550.2528 | f: 877.371.1698 | www.felisaloans.com
Any opinions are those of the loan officer and may not reflect the opinion of Prospect Mortgage. Continue reading