Lombardi Team at Pioneer Mortgage Funding Inc. NMLS 377398

01/31/2022

We are thrilled to announce that we now have full Spanish support - our new loan partner Eppy Alvarez is on boarded and can provide the bi lingual support many have been requesting.

09/16/2021

The secondary market has removed the major pricing hits that were implemented on second homes and investments. If you are considering an investment purchase or refinance, now is the time! These are already gone from our wholesale rate tables!!!

This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.

06/23/2021

I have heard people say "rate doesn't matter". Well, this chart shows how it does matter. Work with someone that helps your buyer maximize their buying power

06/15/2021

Experience matters.

A loan officer has a very important job. We write the story of the loan - we tell the underwriters YOUR FINANCIAL story. Before we get to the happily ever after ending, we must first anticipate any twists to the plot.

Don't discount the importance of a knowledgeable mortgage professional. Don't allow your story to be written by just anyone. You don't want your book closed and put on the shelf before that happily ever after part - it is after all, the BEST part of the story!

06/01/2021

What is mortgage insurance?

Mortgage insurance allows you to put less than 20% down on a home! IN today's competitive market mortgage insurance allows you to make up an appraisal gap.

1. Private mortgage insurance (PMI) is credit sensitive
2. Private mortgage insurance is loan to value sensitive - putting more down makes it less.
a. PMI goes in tiers, or buckets
b. 3% down, 5% down, 10% and 15% down
3. Private mortgage insurance will come off the loan when you reach 78% loan to value, either through appreciation (with an appraisal to validate) or through pay down of principal vs original appraised value

Government loans like FHA, VA and USDA do not have private mortgage insurance, but they do have mortgage insurance.

1. FHA/USDA mortgage insurance is not credit sensitive
2. FHA/USDA mortgage insurance does not come off the loan
3. FHA/USDA mortgage insurance has a monthly premium and an upfront premium

VA loans do not have monthly insurance fees - the VA charges a funding fee. Veterans with a 10% disability rating are exempt

If you ever have questions about mortgage insurance and the options for less down - CALL ME! I am happy to review the pros and cons of these programs

03/29/2021

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