Patrick Edmondson, Loan Officer, NMLS# 220567

06/19/2025

06/04/2025

Homes hitting the market are move in ready

03/14/2025

What is a DSCR Loan?
A DSCR loan is a type of mortgage for real estate investors that focuses on the property’s ability to make money rather than your personal income. 🏠💸

How it works:

The lender checks how much money the property earns from rent 🏘️💵 compared to how much you owe on the mortgage 💳.
They want to see if the property can cover the loan payments ✅💰.
A higher ratio means the property is doing well at covering the loan 🎯💸.
Key Features:

No need to prove personal income 🛑💼
Great for investors with complex finances 🧑‍💼💡
Might need a bigger down payment 💰
Could have higher interest rates 📈💸

03/09/2025

💸 THE MORTGAGE TRAP COSTING YOU THOUSANDS

🏡 One thing I've noticed buyers get wrong about mortgages: they only focus on the interest rate 📉 but forget about the fees 💵 that come with it.

🔢 Example:

Lender A: Offers 6.750%
Lender B: Offers 6.250%
Looks like Lender B is better, right? 🤔 Your payment could be about $160 lower 💰.

BUT… when you dig deeper 🔍, Lender B is actually charging ‘two points’ (💸 that’s an extra $10,000 in closing costs! 😱).

Now, this might be worth it ✅ or maybe not ❌—especially if you're unsure how long you'll keep the loan ⏳.

03/04/2025

💡 Mortgage Hack That Lowers Your Payment Without Refinancing! 💰

Ever heard of a RECAST? 🤔 The banks don't talk about it, but it can save you hundreds every month without changing your rate! 🏦💵

Here’s how it works:
1️⃣ Make a big payment towards your principal (think $20k+ 💸)
2️⃣ The bank recalculates your payments based on the new balance 🧮
3️⃣ Your interest rate stays the same ✅
4️⃣ Small $250 fee 🔑

Example:

💵 Mortgage: $400k at 3.5%
💰 Pay down $50k towards principal
📉 Monthly payment drops by $225
No credit check ✅, no appraisal ✅, no closing costs ✅.
Perfect if you:

Have a great rate already 🏡
Get a big bonus 💰 or inheritance 🏠
Sell another property 🏠 and want a lower payment 💸
Follow for more mortgage and real estate tips you won’t hear anywhere else! 💡

02/27/2025

When you're a seasoned mortgage pro, but the housing market still throws you curveballs. 🏠💥 "

01/16/2025

Should I buy now? Call me so we can design a customized mortgage plan that fits you and your family's needs.

Today's Market Summary Report