Bob French - The Home Buying Experience

10/31/2026

Want to buy a home but not sure you’re ready? You may be closer than you think.
Maybe your credit needs work. Maybe you don’t have the down payment yet. Maybe you’re self-employed and assumed a mortgage was off the table.
Not qualifying today doesn’t mean you can’t become a homeowner.
I’m an independent mortgage broker licensed in Georgia and Florida. Because I work with multiple wholesale lenders, I can explore financing options that may not be available through a single bank. What matters most is what happens after “not yet.”
When you’re not ready, the answer shouldn’t be a dead end. It should be a plan: Improving credit, Exploring down payment assistance, Considering alternative income documentation and Setting clear, achievable next steps
With the right guidance, today’s “not yet” could become a closed deal in three, six, or nine months.
HOMEBUYERS: Let’s talk about where you are and map out your path. No pressure, just a plan.
REAL ESTATE AGENTS: I built an AI persona that sounds like me, and I use it to follow up with over 200 buyers who weren’t ready yet. I’d be glad to do the same for your clients so no one gets forgotten.
If you or you know someone who’s been told “not yet”? Tag them or share this post.
Website: https://bobfrenchs.netlify.app/
Schedule a 30-minute introduction: https://calendar.app.google/bXo4QTgy71eEK5Kx6
Bob French
Mortgage Loan Officer | NMLS #2333469
David Kilpatrick Financial LLC
201-310-8321

10/13/2026

I have a new website - please take a look and if you think I could add more features please let me know

Explore FHA loans, 100% financing options, down payment assistance, conventional, VA and specialty mortgages throughout Greater Atlanta with Bob French, NMLS #2333469.

09/09/2025

Frenchy's Thoughts
Below is a Checklist to Help Assess Your Readiness to Buy a Home:

1. Financial Health
• Stable income (preferably 2+ years with consistent employment)
• Manageable debt (low debt-to-income ratio)
• Good credit score (ideally 620+ for conventional; 580+ for FHA)

2. Down Payment & Savings
• Enough saved for a down payment (as low as 3%–5% of loan amt)
• Enough saved for closing costs (usually 2%–5% of purchase price)
• Emergency fund (3–6 months expenses for emergency purposes)

3. Understand Homeownership Costs – a Mortgage consists of
• Mortgage
• Property taxes
• Mortgage Insurance (Down Payment < 20%) – protects Lender
• HomeOwners Insurance – Protects you and your property
• HOA Fees (if applicable)
• Maintenance & repairs – must be considered

4. Lifestyle Stability
• Planning to stay in the area for at least 3–5 years
• Looking for long-term stability or raising a family
• Not planning major lifestyle change (e.g., relocating, career shifts)

5. Knowledge of the Market
• Researched neighborhoods
• Understand price trends, crime rates, school zones, etc.
• Know what kind of home (condo, single-family, townhouse)

08/18/2025

Frenchy's Thoughts - Myths about Home Buying - I am continually asked many questions and am shocked that many people do not realize that home buying is really not that hard - Credit, a Little Savings and reasonable debts - means you can buy a home!

The ten of the most common myths about home mortgages, along with the truth behind each one:
1. Myth: You need a 20% down payment to buy a home.
Truth: Many loan programs allow for much lower down payments:
 FHA loans: as low as 3.5%
 Conventional loans (with PMI): as low as 3%
 VA and USDA loans: 0% down for those who qualify

2. Myth: You must have perfect credit to qualify.
Truth: You can get approved with fair or even poor credit:
 FHA loans accept scores as low as 580 (sometimes lower)
 Higher credit scores get better rates, but perfection isn& #39;t required

3. Myth: The interest rate is the only thing that matters.
Truth: Other factors also impact your costs:
 Closing costs, loan terms, mortgage insurance, and fees
 APR (Annual Percentage Rate) gives a better full-picture cost than interest rate alone

4. Myth: Pre-qualification and pre-approval are the same.
Truth:
 Pre-qualification is a rough estimate, usually unverified
 Pre-approval involves income, credit, and financial verification and carries more weight with
sellers

5. Myth: You should always choose the lender with the lowest rate.
Truth: A low rate may come with high fees or poor service. Always compare:
 Closing costs
 Lender reputation
 Customer service
 Loan terms

6. Myth: You can’t refinance unless interest rates drop significantly.
Truth: Refinancing may still make sense for:
 Lowering your monthly payment
 Switching from adjustable to fixed rate
 Removing mortgage insurance
 Shortening your loan term

7. Myth: You’re stuck with one type of mortgage for the life of the loan.
Truth: You can:
 Refinance into a different type (e.g., from adjustable to fixed)
 Pay off the loan early (though check for prepayment penalties)

8. Myth: Renting is always cheaper than buying.
Truth: Not always. Over time, owning builds equity and may be more affordable in some markets. But:
 It depends on location, market trends, and how long you plan to stay
 Upfront and maintenance costs for buying can be higher

9. Myth: You should pay off your mortgage as fast as possible.
Truth: While being debt-free is great, paying it off quickly isn& #39;t always best:
 You might earn more by investing elsewhere
 Keeping a mortgage can offer tax benefits
 Liquidity and emergency funds matter too

10. Myth: You can’t get a mortgage if you’re self-employed.
Truth: You can get a mortgage if you& #39;re self-employed, but:
 Lenders will require more documentation (2+ years of tax returns, profit/loss statements)
 Stable income is key

Call now to connect with business.

08/18/2025

Frenchy's Thoughts - Here's a Graph you may find interesting

08/02/2025

Frenchy's Thoughts Subject: Mortgage Rates Explained What a Home Buyer Needs to Know
Today’s buyer is more cautious than ever. Interest rates remain high and everyone is asking:
Why are rates still so high?
And who controls them?
How Are Mortgage Rates Determined?
Mortgage rates are influenced by several factors, but they are not directly set by the Fed. Instead, they’re determined by:
• The bond market — specifically the yield on the 10-year U.S. Treasury note. Mortgage rates tend to track closely with this yield.
• Inflation expectations — higher inflation typically leads to higher rates.
• Federal Reserve policy — the Fed doesn’t set mortgage rates, but its rate hikes (or pauses) strongly influence lender behavior and investor sentiment.
• Risk-based pricing — credit score, loan-to-value, loan type, and other borrower-specific factors play a role in the final rate offered.
Why Are Rates Still High?
• The Fed combats inflation, which, although cooling, remains above its 2% target.
• Uncertainty in the global economy and strong employment data have made investors hesitant to commit to lower yields — keeping mortgage rates from dropping.
• Sticky inflation in housing, insurance, and services has kept rate relief slower than many expected.
What Will Bring Mortgage Interest Rates Down?
Mortgage rates will begin to decline meaningfully when several key economic conditions shift. Here's what needs to happen:
1. Inflation Must Return to the Fed's 2% Target
The biggest driver of high interest rates right now is inflation. While it's cooled from its 2022 highs, it's still above the Fed’s 2% target. Lower inflation means lower yields on Treasury bonds — and mortgage rates generally follow those yields.
2. The Federal Reserve Must Start Cutting the Federal Funds Rate
While the Fed doesn’t set mortgage rates directly, its policy decisions influence them.
• When the Fed raises its benchmark rate, borrowing becomes more expensive, and lenders increase mortgage rates accordingly.
• When the Fed cuts rates, mortgage rates tend to follow — although not immediately.
3. Slower Economic Growth or Higher Unemployment
This one sounds harsh, but it's true: economic slowdowns or rising unemployment typically cause interest rates to fall. Investors seek the safety of bonds, pushing yields (and therefore mortgage rates) down.
The worse the economy looks, the more likely rates are to drop — but that comes with trade-offs.
4. Global Events Can Shift Investor Behavior
Geopolitical instability, financial crises, or major market shifts can drive investors into safer assets like U.S. Treasury bonds, reducing yields and putting downward pressure on mortgage rates.
So… When Will Rates Drop? Economists & everyone is concerned and all say SOON
What I Do Differently as an Independent Loan Officer
While most retail lenders are locked into their own rate sheets, I shop among 15+ wholesale lenders to find the most competitive rates and programs available. That flexibility allows me to:
• Often beat retail pricing
• Offer creative financing options (temporary buydowns, interest-only, etc.)
• Provide full transparency so your clients feel confident, not confused
• I can show any person real-time mortgage scenarios for properties you may be interested in based on a listing you may see or visit - including rate comparisons and estimated monthly payments.— specifically the yield on the 10-year U.S. Treasury note. Mortgage rates tend to track closely with this yield.
• Risk-based pricing — credit score, loan-to-value, loan type, and other borrower-specific factors play a role in the final rate offered.

06/20/2025

Last week, I had the privilege of helping a family—mom, dad, and two kids aged 11 and 6—purchase their very first home.

It wasn’t just a transaction. It was a moment years in the making, filled with hope, gratitude, and sheer excitement. Watching their faces light up when they realized, this is ours — that’s the kind of moment that reminds me exactly why after retirement I had to find a way to help people. I love what I am doing.

Helping people get into a home they’ve dreamed about isn’t just about mortgages. It’s about freedom. Stability. Possibility. And for this family, it was about planting roots in a place they’ve worked so hard to call their own.
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Call now to connect with business.

06/18/2025

I Cannot Make Every Closing But It's Always Enjoyable When I Help Another Family Buy Their First Home

05/07/2025

Frenchy’s Thoughts
I want to let everyone know that buying a home is NOT as onerous as many people feel it is! A good Real Estate Agent and a solid Loan Officer should take the time to explain the home buying process. There are really only four items that are required – Credit, Work History, Savings and Assets, DTI.
Credit - The main point any Borrower should understand is what does a Lender think of my qualifications to buy a home. They are about to give you $100K+ on up to some large number. In order to do so they want to insure that they will not be left high and dry. So the very first thing a Lender looks at is Credit. While it may be possible for some Lender to approve a mortgage for a buyer with under a 580 score, it is highly unlikely. But if they do, they will be charging you heavily to do so! Here are the basics of Credit Score
1. Under 600 – you may be approved but the cost of the Mortgage will be high
2. 600 to 650 – here is where a lot of people fall – You should be able to get a mortgage in this range but the costs are still rather high. I personally will work closely with clients in this range and let them know that with a little tweaking and 3-4 months of work we should be able to get them over 660.
3. 660 - 699 is where most Lenders and their Mortgage product offerings begin to appear. The costs will come down and the ease of approval is there
4. 700 – 800 is considered a good Credit Score and the closer to 800 you get the better rates and costs will come your way
5. Over 800 is tremendous and if the other factors work out OK you will love the benefits
Work History – Every client must have 2 years of continuous work. You can change jobs, have 2nd jobs, and even take a leave of absence but the 2 years is mandatory. We all know that in life things happen - leave of absence, get laid off, take maternity leave, have a family issues that may prevent the 2 years of work continuity. The rules allow for this in that we would go back three years and recoup the time that is missing – if you take 3 months off – then we go back three months into the third year to recoup the time. The Lender wants to see solid Work History
W2 vs 1099/Self Employed – If you are a W2 employee the prior 2 years of W2 statements are required. If you are a 1099 employee or own your own business then the Tax Return will be used. The issue with a 1099 or self employed client s that in many cases your tax accountant is taking writeoffs and your writeoffs can so big that you show little income or in many cases a loss. If you take a loss because of writeoffs, the Lender sees this as you are running a business that loses money and therefore you will not qualify for a mortgage. The advise here - if you know you are going to buy a home but you are 1099 or self employed, then let your Tax Accountant know before filing and take less deductons to show higher earnings. You really want to show about $60,000 in earninigs if 1099 or self employed.
Savings and Assets – It’s recommended to save at least 5% of a home’s purchase price to cover upfront costs like a down payment, moving expenses and closing costs. This means to buy a $300,000 home, you’d want to save up $15,000 (5%). There are many programs available that allow for Down Payment Assistance and there are ways to ease closing costs, but the monthly mortgage payment will become a constant must pay bill. If you are able to get into a home but you have little savings left, where is the backup for a roof leak, water issue, etc. So this should be a thought before buying. Many people feel that since I pay $2,000 a month on rent that if I get a $2,000 mortgage I should be OK. Remember with rent there are no obligations!
Earnest Money and Appraisal - At a minimum you will need to have an account that has enough to cover two items – earnest money and the money for the cost of an appraisal. If you are thinking about a $300,000 home you will need a minimum of $3,000 for Earnest Money and about $750 - $1500 for an appraisal
Debt to Income (DTI) - There is a concept called DTI and if you want to buy a home. There is a front end DTI and a back end DTI. Front end is monthly mortgage should not be more than 40% of your monthly gross income – if you make $4,000 a month your monthly mortgage should not be more than $1,600. In many cases a Lender will allow this to go to 45% but all other factors like Credit, Savings, Down Payment etc. must be good. Back end is monthly mortgage plus all other monthly liabilities – car loans, education loans, credit cards, etc should not be more than 50% of your monthly gross income. Again there are allowances to go above 55% based on the viability of the client.
The reality is that if you are ready with the above – Good Credit, Some Savings, Good Work History, and feel that prospects for the future look good then the next thought should be “one of the best roads to riches in the US is through real estate and I shoould take advantage of this now!"

04/18/2025

Another successful Closing - Congratulations Mercy - See Picture