Mortgage Gurus

12/01/2021

Did you know that the minimum down payment on a primary home (you will be living in it) is 3%? Whether or not you’re a first-time buyer, you only have to put 3% down.
$200,000 X .03 = $6,000
Closing costs = $5000
Total needed: $11,000 estimate

That’s $460 a month for 24 months. Instead of buying a car, save to buy a home!

10/20/2021

Typically a self-employed buyer needs to show 2 years tax returns to get a home loan. The problem sometimes is that the previous year is really low and the average is not good.
Here’s an Option: If you’ve been self-employed for 5 years and your credit qualifies, we only require 1 year of tax returns.

05/25/2020

Honoring the brave men and women who gave everything for our country.

- http://kshah.myfirstoption.com

10/20/2019

This is a platform that allows you to ask questions about mortgage lending and get answers per guidelines. Some things can't be answered by searching the internet and the answer isn't always correct. The only "ludicrous" question is the one that wasn't asked.

06/09/2019

I was spending $140 a month on cable and internet access at home! That didn't include taxes, DVR service, and junk fees. My total was closer to $165 a month!
So, I thought about what shows can I do without. I chose 8 channels that I wanted to keep. All I really need is internet access so I use my Roku box to watch my other shows. I called my cable service provider and asked for the retention department. After an hour on the phone, I ended up with 12 channels, a DVR box and internet service for $75 a month. A savings of $90 a month. Someone buying a home would have to put $15,000 down to save that kind of money!

06/07/2019

If it's been at least 2 years since you bought a house, it's a good time to review your mortgage loan. I've got all sorts of options! The best option is First Option Mortgage! Give me a call at 404-644-3295.

Currently in a FHA loan with *MI (Mortgage Insurance)? If your value has increased just 5% or more, you may be able to switch to a conventional loan and lower your MI or get rid of it altogether! On a conventional loan, MI is only required for 2 years.
Once your equity reaches 22%, you can request an appraisal and possibly drop the MI. This is different from FHA, where it's permanent.
*MI is an insurance that one pays monthly to offset the risk of foreclosure. PMI (Private Mortgage Insurance) was the name of the first company to offer MI. The actual term is MI.

05/30/2019

Want to know your interest rate? Answer these first to get a more realistic answer:
What's your mortgage credit score? What program are you using? How much down payment? How much are you borrowing? How many years financed? What zip code are you buying in? Buying a condo or house? Primary, second home or investment? When are you planning to buy? Need assistance with down-payment? Financing PMI?
Let us help you finance your next home and get you the best loan to fit your needs!

02/04/2019

They say you should never switch jobs or hunt for a house during the holiday and winter season. We can’t speak for the job situation, but there are many advantages to buying a home during the coldest months of the year — the biggest of which is that very few buyers are out there. But there are other benefits, too, like tax breaks, lending incentives, and more.

They say you should never switch jobs or hunt for a house during the holiday and winter season. We can’t speak for the job situation, but there are many advantages to buying a home during the coldest months of the year — the biggest of which is that very few buyers are out there. But […]

01/28/2019

You'll hear from all over that the housing market falls off when the leaves do. Labor Day arrives, the seasons change, and apparently no one wants to buy a home until spring. But is that really true, or can it really be a bonus to buy and sell during the winter season? http://ht.ly/3lWq30mQvFa

01/21/2019

Looking for your first home, or maybe you just want to get a better rate on your current one? Eliminating debt can be the perfect way to save money—here are five easy ways to chip at that debt-to-income ratio!

If you’re planning to buy your first home soon, or simply want a better rate on an existing mortgage, paying down other debts will put you in a better position to do so. Decreasing your debt-to-income ratio positively affects your credit score, and shows home lenders that you’re more likely to p...

01/21/2019

MLK Day is a day of service and volunteering! Need some inspiration? Find a place to do good in your area today! http://ht.ly/bkAb30nnnFi

01/16/2019

It's the most wonderful time of the year...for fire safety! Deck your halls with awareness and preparation to keep your family holly and jolly for the holidays!

It’s that time of year again: Time to deck the halls, trim the tree (or light the menorah), and check the smoke detectors. But seriously. Fires in the home are most common during the winter months, and fires from candles or trees are particularly dangerous. First things first: Test your smoke alar...