Patrick Edmondson, Loan Officer, NMLS# 220567

Patrick Edmondson, Loan Officer, NMLS# 220567 Patrick Edmondson - Seasoned Mortgage Professional
NMLS # 220567
Novus Home Mortgage NMLS # 423065

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 propertyโ€™s ability to make money rather than your personal income. ๐Ÿ ๐Ÿ’ธ

How it works:

The lender checks how much money the property earns from rent ๐Ÿ˜๏ธ๐Ÿ’ต compared to how much you owe on the mortgage ๐Ÿ’ณ.
They want to see if the property can cover the loan payments โœ…๐Ÿ’ฐ.
A higher ratio means the property is doing well at covering the loan ๐ŸŽฏ๐Ÿ’ธ.
Key Features:

No need to prove personal income ๐Ÿ›‘๐Ÿ’ผ
Great for investors with complex finances ๐Ÿง‘โ€๐Ÿ’ผ๐Ÿ’ก
Might need a bigger down payment ๐Ÿ’ฐ
Could have higher interest rates ๐Ÿ“ˆ๐Ÿ’ธ

03/09/2025

๐Ÿ’ธ THE MORTGAGE TRAP COSTING YOU THOUSANDS

๐Ÿก One thing I've noticed buyers get wrong about mortgages: they only focus on the interest rate ๐Ÿ“‰ but forget about the fees ๐Ÿ’ต that come with it.

๐Ÿ”ข Example:

Lender A: Offers 6.750%
Lender B: Offers 6.250%
Looks like Lender B is better, right? ๐Ÿค” Your payment could be about $160 lower ๐Ÿ’ฐ.

BUTโ€ฆ when you dig deeper ๐Ÿ”, Lender B is actually charging โ€˜two pointsโ€™ (๐Ÿ’ธ thatโ€™s an extra $10,000 in closing costs! ๐Ÿ˜ฑ).

Now, this might be worth it โœ… or maybe not โŒโ€”especially if you're unsure how long you'll keep the loan โณ.

03/04/2025

๐Ÿ’ก Mortgage Hack That Lowers Your Payment Without Refinancing! ๐Ÿ’ฐ

Ever heard of a RECAST? ๐Ÿค” The banks don't talk about it, but it can save you hundreds every month without changing your rate! ๐Ÿฆ๐Ÿ’ต

Hereโ€™s how it works:
1๏ธโƒฃ Make a big payment towards your principal (think $20k+ ๐Ÿ’ธ)
2๏ธโƒฃ The bank recalculates your payments based on the new balance ๐Ÿงฎ
3๏ธโƒฃ Your interest rate stays the same โœ…
4๏ธโƒฃ Small $250 fee ๐Ÿ”‘

Example:

๐Ÿ’ต Mortgage: $400k at 3.5%
๐Ÿ’ฐ Pay down $50k towards principal
๐Ÿ“‰ Monthly payment drops by $225
No credit check โœ…, no appraisal โœ…, no closing costs โœ….
Perfect if you:

Have a great rate already ๐Ÿก
Get a big bonus ๐Ÿ’ฐ or inheritance ๐Ÿ 
Sell another property ๐Ÿ  and want a lower payment ๐Ÿ’ธ
Follow for more mortgage and real estate tips you wonโ€™t hear anywhere else! ๐Ÿ’ก

02/27/2025

When you're a seasoned mortgage pro, but the housing market still throws you curveballs. ๐Ÿ ๐Ÿ’ฅ "

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

Start your homeownership journey with a 2% lower interest rate! The 2-1 Buy Down Mortgage Product provides the opportuni...
12/28/2022

Start your homeownership journey with a 2% lower interest rate! The 2-1 Buy Down Mortgage Product provides the opportunity for homeowners to temporarily lower the interest rate during the first two years in exchange for an upfront additional fee. This loan program is favorable in a higher interest rate environment because it enables lower monthly payments during the first 2 years. Restrictions apply, contact me to learn more: https://bit.ly/33rN7JE

Thank you so much, Matthew! I am happy to hear you had such a positive experience working with me!
12/26/2022

Thank you so much, Matthew! I am happy to hear you had such a positive experience working with me!

Address

1320 Matthews Twshp Pkwy, Suite 201
Matthews, NC
28105

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