Namita Dhami, Mortgage Loan Officer NMLS #1027545

03/09/2023

Celebrate your strength!

Happy Thursday!

03/02/2023

When you focus on helping others and adding value, the rewards will come naturally. Remember, true success is built on strong relationships.

02/10/2023

01/30/2023

YES, You Got This!

01/27/2023

Finance Friday’s 💡

Why you should consider a FHA loan and what’s the difference?

There is a common misconception that FHA is only for first time homebuyers or for people with bad credit or low income. The truth is that there is no income requirement and you don’t need to be a first time home buyer to qualify. Anyone could qualify except for investment properties.

PRO’s
📌Lower Interest Rates in this market
📌Higher Loan Approval
📌Easier Approval considering if you have lower credit score
📌Low Down Payment - 3.5%
📌Higher debt-to-income(DTI) approval - 57% Vs. Conventional it’s 50%

CON’s
📌 Upfront mortgage insurance is an additional mortgage insurance premium that is added on top of your loan amount
📌 FHA backed loans cannot exceed certain loan amounts that vary and based on different county limits
📌Monthly Mortgage Insurance Premium (MIP) which is the biggest concern and a myth that it’ll stay there for the life of the loan. The truth is it can be removed after a couple years when you refinance to a conventional loan and have 20% equity.

With new higher lending limits for both FHA & conforming home loans, you now have more buying power. Its also important to note that FHA loans are not offered by the FHA, but rather by FHA-approved lenders. It's a good idea to shop around and compare offers from different lenders to find the best terms and rates for your situation.

Buying within 6 months? Let's get you pre-approved!


score -to-income

01/22/2023

Sunday’s are for Football 🏈

01/20/2023

Finance Friday’s 💡

Which is better, a lower interest rate on a home you had to “settle” on due to competition in the market or a higher interest rate and seller concessions (not to mention actually getting your offer accepted) on the home of your dreams?

Here are the Pros and Cons of homeownership in the current market!

PROS:

📌Seller Paid Closing Cost
📌Seller Paid Rate BuyDown
📌Seller Paid Repairs
📌Seller Paid Improvements
📌Purchase Price Negotiation
📌Offer Less Than Asking
📌Appraisal Negotiation
📌More Time To Decide
📌Contingency Contracts

CONS:

📌Higher Rates

There are three possible outcomes when buying a home with the current interest rates:

✅Rates go down, giving you an opportunity to refinance for a lower rate
✅Rates stay the same, so you have nothing to lose
✅Rates go up again and you wish you bought sooner

If you need a plan for 2023, want guidance on how to apply your tax return effectively, and just have an overall easy conversation about the housing market please get in touch with me anytime 📲

01/19/2023

The Customer's Perception Is Your Reality!

Today, is and I'm eager to know where did you grow up and what’s your favorite thing about where you grew up?

01/18/2023

Either YOU run the day or the day runs you!

01/17/2023

✨Good Morning Tuesday✨