Elijah Wilson, Barrett Financial Group, NMLS #1424571

01/29/2024

Realtors and Lenders - here is a helpful tip for your clients!

Credit bureaus sell leads to various lenders every time credit is pulled on a borrower. I have heard from a lot of my own borrowers that they’ll get several calls and texts after I run credit. In my mind, I’m thinking a few lenders reach out. There is a way around this which I’ll get to.

I applied for a mortgage myself and credit was pulled last Thursday. Friday morning at 7am, I started getting calls and texts from lenders. There were not several calls…. There were hundreds. I had about 25 calls/hr the whole day Friday into late evening, again(although fewer) on Saturday starting at 7am, and now today I’ve already had about 15-20. The texts were quoting rates of 5% which hook a lot of buyers; however, being a lender, I know they have to charge a lot of fees to get that low right now. One lender sent me a quote at 5% charging over $32k in just rate buydown yet alone closing costs.

From a lenders view, it’s ridiculous that I work hard to get the business upfront then have to fight against that many lenders to retain the business that I earned. I, however, hate it more for the borrower. It was a nightmare getting calls and texts every 2-3 minutes. You can barely work with the phone ringing that much.

Here is the work around!! Have your buyers and borrowers opt out of their info being sold by the credit bureaus before they apply and credit is pulled. Below is the website. It is a few questions long and takes less than 2 minutes to complete. This will save a ton of aggravation for the buyer/borrower!

Optoutprescreen.com

Now it’s time to get back to deleting the texts and calls…. Good times!

05/22/2023

5.0 star review received on Experience.com for Elijah Wilson by Chelsea B - Easy to work with

Click to see all 10 reviews of Elijah Wilson, Mortgage Sales Manager | NMLS # 1424571

05/14/2023

Here's to all the moms and mother figures, past and present! Today we celebrate all that you do for us. The world is a much kinder place because of you.

05/11/2023

5.0 star review received on Experience.com for Elijah Wilson by Kimberly S B - Elijah and his team made our recent Refinance experience seamless.

Click to see all 8 reviews of Elijah Wilson, Mortgage Sales Manager | NMLS # 1424571

04/26/2023

As you celebrate one of the most important days of your lives, your friends and families are excited for your adventure and want to help you begin your life together. Why not help you on your way with the wedding present of your dreams – a new home. Check out today’s blog to learn how to turn your wedding bells into doorbells!

As you celebrate one of the most important days of your lives, your friends and families are excited for your adventure and want to help you begin your life together.

04/19/2023

A capital gain occurs when you sell an asset for more than you purchased it for. For example, if you profit on the sale of your home, you likely have a capital gain. Capital gains are taxable by the IRS. The amount you pay in taxes for a capital gain depends on several factors including how long you’ve owned your home, your tax filing status and income. Learn more about capital gains tax and how real estate investors can defer them with a 1031 exchange in today’s blog!

Learn more about real estate and how to navigate better in the housing market, whether you're buying or selling!

04/14/2023

Coming up with enough cash for a down payment is one of the most common struggles among first-time home buyers. Did you know? You don’t need to put 20% down on a home. We have options for your financial situation. Contact me to find the best match for you and to learn if you qualify!

04/13/2023

Owning a home has long been considered the American Dream. Statistics show that no matter the generation, Americans overwhelmingly believe that homeownership is important. Whether personal, emotional, or financial, there are many reasons why homeownership matters. As an aspiring homeowner, you've probably heard one reason repeatedly... Purchasing a home is a great investment and helps to build equity. But what exactly does that mean? Learn about the importance of equity in today's blog!

Owning a home has long been considered the American Dream. Learn more about how you can build wealth through home equity!

04/12/2023

The housing market is HOT but competitive. If a move isn't in the cards for you right now, consider making renovations!
While home values continue to rise, making improvements can further increase the value of your home!
Is your next project bigger than what you have saved up? Consider looking into a Construction loan to renovate your home with are flexible loan options!

04/11/2023

The deadline to submit your tax return for 2022 is in ONE WEEK! Did you know that you can use your tax refund to invest in your homeownership dreams? Whether you are currently a homeowner or looking to become one, contact me to learn how your tax refund can help you achieve your home goals!