Mortgage Advice From Your Neighbor
My 22 years as a mortgage loan officer in Rapid City have bestowed me with the opportunity to form trusting relationships with the residents of our beloved city. Penning this week’s newsletter gives me the opportunity to strike up a relationship with those I’m unacquainted with by sharing my expertise on a paramount subject matter: mortgage.
Different People, Different Loans
As of recent Affiliated Mortgage is excited to offer South Dakota Housing loans for first-time homebuyers. I am now able to help many people buy their first home with added assistance from SD Housing. For example, I closed an SD Housing loan where the borrower received a 5% gift through their gift program because she was a college graduate within the past 5 years. The borrower was able to use this gift as her down payment, which enabled her to forgo the use of her personal funds. I had another unique situation for a medical doctor. As a recent medical school graduate on his way to embarking on a successful medical career, this borrower had great income but was held back from making a down payment by a lack of funds and paralyzing school loans. Despite the quagmire, I was able to perform my own form of life saving surgery and equipped this borrower with a program with only 3% down all the way up to $750,000 loan amount.
What Is The Difference Between A Bank And A Mortgage Company?
The one question that I have been most frequently asked over the past 22 years is: what is the difference between a bank and a mortgage company? As a mortgage company, we only offer mortgage loans –that’s it. Buying a new home or refinancing your existing home is always a big deal; therefore it is important that you work with a company that specializes in mortgage lending opposed to a bank.
When Things Matter To You, Quality Is King
I’m satisfied to stop by Walmart to pick up everyday items. While shopping, though, I never expect service or help. On the other hand, if it is time for a new putter or a driver (I love Golf more than I like to admit) I would never even consider going to Walmart. Why? In somewhere like Scheels, I know that experts will be available to answer all my questions and show me the different products available. Sure the price is important, but it is never worth sacrificing service for something you care about.
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