LoanSome Dough

30/09/2024

Gotta give credit where credit is due!!!

Thank you Daniel Austin for not only letting me steal your idea but hooking me up and making it! 👊

All it's all true 😉

19/09/2024

Let's say you have $20K in CASH that you want to use towards your down payment.

The only "problem" is we can't accept a duffle bag full of Benjamins...

So here's what you can do 👉

September 20th - Open a separate 'House Account' at the bank and deposit your down payment monies in there.

October 20th(ish) - Get 1st Bank Statement which shows deposit. (that money would need to be 'sourced' just incase you hang out with Breaking Bad type folks)

November 20th(ish) - Get 2nd Bank Statement showing down payment

December 20th(ish) - Get 3rd Bank Statement showing down payment.

We would just need November and December statements to show the money!

18/09/2024

Fed announces 50 basis point cut!!! First 'JUMBO' cut in 4 years!

The Federal Reserve announced an interest-rate cut of 50 basis points on Wednesday, the first in four years after aggressive inflation fighting.

17/09/2024

With the Fed meeting tomorrow, would love to know what y'all think...

17/09/2024

I mean...what more is there to say? 😆

12/09/2024

I know, I know this is SOOOOO Big Brother but it's true....

I would've paid $100 to see his face when I called and asked him what the hell he was doing at the Chevy dealer when we were going to the closing table in a week and a half. 🤣

Just wanted y'all to know, there's no sneaking around getting a car, motorcycle, boat or furniture before closing.

10/09/2024

Most folks are surprised when I share this.

One dude told me his credit score was like 837 and when I pulled it, it was 780.

Another time someone told me 560 and it was 490.
(👆 zero judgement by the way, we just have to get a plan together)

As G.I. Joe says 'Knowing is Half the Battle'

05/09/2024

I'll share my thoughts below but would love to know what y'all think??? 🏠 or 📈

05/09/2024

I helped someone buy a home for about $1200 out of pocket.

That money covered the appraisal and inspection. THAT WAS IT.

So if you don't have 20% down, just give me a shout let's see what our options are!

03/09/2024

ICYMI: Homeownership is one of the fastest ways to increase your net worth. 💸

But between us that's not really the sexiest part about it.

I know folks who will take out a HELOC (Home Equity Line Of Credit) to purchase an investment property and pay off the HELOC with the income. 🤯

That's some next level 💩 right there!

29/08/2024

One borrower I was working with called because they fell in love with a home that's $350,000.

Now they can qualify for it BUT with the interest rates and where they want their payments to be they should really be shopping around $310,000.

THIS my friends is one of the main reasons you want to know your numbers before you go house hunting...

22/08/2024

I was chatting with this sweet couple and when I asked about what they thought would be a comfortable payment that works with their lifestyle and they *knew* the number.

After reviewing their income and debts they could afford more house but they told me 'we aren't moving to Tennessee to just sit at home, we've got a bunch of fun things we want to do'.

To which I responded 'hell yes! I love that! what's on the list?'

The mentioned a boat and a motorcycle to start.

I reminded them to please wait until after closing and I'd be happy to bring gas money and snacks on the boat 😉

20/08/2024

If you didn't know the insurance industry has changed pretty dramatically over the past few years.

Premiums have increased.
Carriers aren't renewing policies.

Which is why it's SO important to have an awesome professional guiding you.

I've partnered with some of the best in the business who are saving people money left and right! (they also make the process so easy)

19/08/2024

A few weeks ago I was chatting with a loan officer friend as they were looking at making a move from the retail shop they were at.

When we priced out a deal they were working on side by side:
We were $4,000 LESS up front.
With an interest rate that was 1% LOWER. 🤯

AND that loan officer has the opportunity to make a few more bucks on the deal WHILE saving their client a chunk of change.

Win-Win-Win.

16/08/2024

'Should I wait until interest rates come down to buy?'

It's been a pretty popular one recently.

My answer. It depends. 🤷‍♀️

If you can find a home with where the current rates are that you can picture yourself in, buy it! 🏠

If not, they maybe it makes sense for you to hang tight.

One thing I want to point out is that I've read several articles that say for every 1% the interest rates come down between 5-7 MILLION people enter the buying market.

Which means as the rates come down, you'll likely have some more competition.

I always say, you've got to do what's best for you and your family!!!

13/08/2024

Now I know that boat would look amazing in your new garage BUT you gotta wait until after closing to buy it.

If you didn't know, your credit is monitored during the home buying process, (big brother vibes no doubt) so we WILL KNOW if your credit is pulled.

I actually got a notice once WHILE MY CLIENT was at the Chevy dealership, I told him to test drive all he wanted but if you want this house you better not buy until after closing 😉

08/08/2024

rates came back up a bit.

good news is we're still under 7% 👏

just a reminder for every 1% rates come down between 5 - 7 MILLION buyers enter the market.

which means there could be multiple bids. cash on top. waiving stuff.

if that vibe is not your jam, consider running your numbers now to see what you qualify for and if there are homes in your budget.

*you can always do a soft pull so it doesn't ding your credit!