Comments for Apex Designs

Comment on Is it possible to use the 401k money to invest in real estate? by Steve Cox

Steve Cox — Sat, 10 Sep 2011 06:01:42 +0000

It’s a shame that most employers are not given the choice to have nontraditional investments in their 401ks and other retirement plans. Guidance is needed from an experienced professional to pull it off, but it’s certainly a better way to diversify and not have all your investment eggs in the Wall Street basket. I specialize in showing companies and individuals how to do this.

Comment on Just found out that buying a home with a 1099 and W2 may mean no house? by Daniel Vun Kannon

Daniel Vun Kannon — Thu, 08 Sep 2011 17:03:34 +0000

I’m sorry to hear that you are experiencing difficulty buying a home. My firm offers services for 1099 consultants for your husband that would solve the problem that you are facing. Our company acts as the employer of record for 1099 consultants making them our W-2 employees. We perform all back office liabilities such as payroll and invoicing without getting in the way of their consulting. This enables them to spend more time working and less time meeting their tax and business obligations. Furthermore since he will be classified as a W-2 he will receive preferable treatment when applying for loans such as your house because his income will appear consistent and steady.
Please visit our website at http://www.iamindependent.com or call (201)-567-2434 to learn how we can help you and your husband.

Best of luck with finding your dream home.

Comment on What are names of Major Mortgage/ Home Loan business? by First Capital

First Capital — Tue, 06 Sep 2011 22:32:00 +0000

Our Parent Company: PHH is the fifth largest retail mortgage originator in the country and one of the top 10 mortgage servicers in the United States.

Providing industry leading mortgage solutions to over 1,500 financial institutions, real estate companies,. and government agencies.
First Capital 310-458-0010

Comment on help me please with VA loans? by First Capital

First Capital — Tue, 06 Sep 2011 20:41:07 +0000

Applying for a VA home loan can be a bit more complex than a conventional loan, but the perks (including the no money down option) can definitely be worth the additional effort.

One of the complexities of a VA loan application has to do with how the loans are approved. With a conventional loan, the borrower applies, submits the loan application paperwork and waits for the lender to do the work. For many VA home loans this process is the same, but some VA loans require an additional step.

VA regulations say that a lender with “automatic approval authority” can make the call on whether or not to approve a VA insured mortgage in a variety of situations, but some VA loan applications require the loan to be submitted to the VA for “prior approval”. For example, joint loans must be submitted to the VA. Joint loan transactions are not simple issuance of credit to qualified borrowers, and require closer scrutiny.

That’s not to say that it is more difficult to qualify for a joint loan–every situation has its own nuances–but the VA does insist on a closer look at the application first. The prior approval requirement means the loan application may take a bit longer to process, but once the loan comes back as approved from the VA, the process can begin moving forward again.

The VA Lender’s Handbook says, “All lenders, whether or not they have automatic authority, must submit the following types of loans to VA for prior approval” including “loans to veterans in receipt of VA nonservice-connected pension” and “loans to veterans rated incompetent by VA”. Interest Rate Reduction Refinancing loans made for delinquent mortgages also require prior VA approval.

In some cases, VA loans for manufactured homes also require prior VA approval. This is true when the manufactured home is not “permanently affixed to the lot and considered real estate under state law”. The VA does provide an exception to this rule–a lender who has been “separately approved” for automatic approval authority for these types of mortgages is not required to submit for prior approval from the VA.

The list of VA mortgage loan applications which must go to the VA for prior approval also includes co-op and supplemental loans, and “unsecured loans or loans secured by less than a first lien.”

@FirstCapitalMtg First Capital 310-458-0010
1401 Ocean Avenue Suite 210
Santa Monica CA 90401

Comment on $150,000 in student loans. Will I ever be able to get a mortgage loan? by e.strong

e.strong — Sat, 03 Sep 2011 19:49:49 +0000

Maybe not today, but when you begin to earn income. What you can afford depends on your income, credit rating, current monthly expenses, down-payment and the interest rate. You might have family gift you a down-payment and forgo an expensive wedding. Pay all your bills on time. Get cars that are now new. Stop putting things on credit. You can talk to a Mortgage Broker to get a strategy started right now that will make home ownership possible. Ask about first time home buyer programs in the state you are interested in-Florida has several programs.
Ginnie Mae’s Home Affordability Calculator – this is a link to a Ginnie Mae calculator that lets you figure out how much home you can afford to purchase.

orlandoneighborhoodsandrealestate.blogspot.com/

Comment on Whats the best way for a Commercial Loan Officer to become established? by Commercial Mortgage, Inc

Commercial Mortgage, Inc — Thu, 01 Sep 2011 03:51:57 +0000

Get a job at a major bank, and first try to get a better credit back ground. You’ll have to suck it up for 2 years, than u can do deals.

Comment on Should I become a loan officer for a mortgage company? by anthony

anthony — Thu, 01 Sep 2011 01:59:04 +0000

Tough call, the market has shrunk however so have the amount of people in this business. The crooks are for the most part out and the less intelligent ones cant pass the testing requirements. I have been in this business for 16 yrs. If you learn the business and put in your time – you can make good money – laws have changed so you cant make what we once made, but it is still a good living for those who wish to make it a profession.

Comment on I’m a Loan Officer and I need to know how can I find more clients? by Dan Foote

Dan Foote — Tue, 16 Aug 2011 14:25:16 +0000

Given the current state of the real estate market, there are some challenges with marketing for refinance transactions. The mortgage industry as a whole has received the temporary benefit of historically low interest rates but it is widely reported that qualifying and funding are still particularly tough both on the basis of credit and equity. The goal of any mortgage marketing campaign should be the highest return on the least amount of expenditure. Below you will find a couple of strategies mortgage companies are using with us to find more opportunities.

On a grass roots level, telemarketing and Direct mail data remains a good source of new business.
With highly targeted records running between 1 and 4 cents per record, you can fill dialers up with data to keep your sales force busy. Common filters for mortgage include: Loan Amount, Current Lender, Origination Date Range, Loan Type, Property Type, Interest Rate, Current FHA or VA Loans,
Fico Score Range and Loan To Value Ratio.

Read Full Article: http://www.genstarinc.com/best-practices-and-data-tips-for-mortgage-campaigns/

Comment on I am starting a new business in financial services but I need a name for my business.? by April Autrey

April Autrey — Fri, 12 Aug 2011 17:37:53 +0000

Hi,

A good rule of thumb when selecting a name for your new business is to not spend too much time coming up with one. You simply need a name so that you can quickly get the appropriate paperwork filed, get a bank account and start creating basic marketing materials, such as a website, business cards, etc.

Once you’ve set up the foundation for your business, you can revisit your business name and work on branding. Read this article for more information: http://bit.ly/oP1ecn

Please feel free to msg me directly if you have any questions!

Thanks,
April

Comment on What companies offer mortgages for foreigners buying property in Mexico? by Michelle

Michelle — Wed, 10 Aug 2011 20:09:57 +0000

You can contact me at michelle@mortgagesinmexico.com