Let me introduce Gary Hammerlund
Once in a while I will have people from other professions contribute to my blog. Not only will they talk about their business, but they will stress the importance of having a quality mortgage planner involved in most of their financial decisions.
I would like to introduce Gary Hammerlund from
http://www.ecityrealty.net/ and
http://www.buythislot.com/. In my 8 years in this business I have dealt with a lot of real estate agents. My opinion is majority of them are more concerned about their commission check then what is best for their clients. Gary's business plan is simple. Take care of the customer first, then everything else will take care of it's self.
Their are about 10 real estate agents that I refer my clients to. You will see several posts about them in the future. Gary is one of the better agents in my network and I trust him with my customers.
I asked Gary to write about him self and his business. This is what Gary wrote. Enjoy........
Thank you,
Jason Lash
Branch Manager
Family Home Lending
866-366-5724
http://www.virtualloanpro.comhttp://www.homecredible.comhttp://www.honestmortgageanswers.comThinking about selling your current house and buying a new home
The first two things you need to do when considering shopping for a new home is
Contact a reputable mortgage broker to find out how much home you can afford. Nothing is more disappointing to you or your spouse than finding out that you can’t afford the home they just fell in love with.
Contact a reputable Realtor® to get a Comparative Market Analysis of your home. The CMA will show you what other area homes of similar style, size, age etc have been selling for. It will also show you the average time a home is in the market place before it sells.
Now that you have taken these first two steps you should have a good idea of how long it will take to sell your current home and a price range for your new home.
What types of homes are selling right now?
There is a good market for the entry level home up to about $150,000. Typically I see buyers being able to qualify with little to no money down on this type of home.
Another type of home that’s selling now is one that’s ready to move into! That’s right completely finished except for where to hang the pictures. Why? I think our spouses have caught on to our good intentions of finishing the basement after we move in, and never getting it done. With so many property owners competing for buyers the homes that show the best are selling. The ones that show a lot of wear and tear and advertise “lots of potential” tend to sit on the market. There are many great values out there if you’re willing to take the time and look for them.
For most people, purchasing a new home is usually one of the biggest decisions they have to make. It’s ok to take your time. I like to help educate my clients to the market place conditions. We’ve always been able to find a better home at a better value than the one that seemingly got away. Sometimes it can take as few as 30 days, but usually it’s somewhere between 2 and 6 months.
So in summary, “find yourself a reputable mortgage broker and Realtor® that will take their time and educate you to the current market conditions that are relative to your situation”. Also make sure they know how to use the internet to communicate with all parties involved with your transaction.
Gary Hammerlund
eCity Realty
616-540-3031
http://www.ecityrealty.net/http://www.buythislot.com/
Posted by Jason Lash at 11:36 PM
How do you find a good Loan Officer part 2
Quick tip.......
When shopping around for the best mortgage, don't be affraid to ask for the resume of any loan officer that you are considering working with.
Below, I have provided a copy of mine.
Jason S. Lash
5075 Cascade Road Suite B
Grand Rapids, MI 49546
Phone (616) 464-0792 Toll Free: (866) 366-5724
E-Mail: Jason@VirtualLoanPro.Com
OBJECTIVE: To structure new mortgages that are best suited for both current and potential new home owners.
COMPUTER SKILLS: Experience with Microsoft applications, and Loan Officer Software.
EDUCATION: 1996 – 1998 Grand Rapids Community College – Grand Rapids, MI
· Associates in Administrative Arts with an emphasis in Sales & Marketing
1994 – 1996 Davenport College of Business – Grand Rapids, MI
· Took various business classes
EXPERIENCE: 2004-Current Family Home Lending Corp. – Grand Rapids, MI
Branch Manager
· Network with Realtors, Builders, Financial Investors C.P.A.’s and Lenders
· Responsible for training new Loan Officers
· Handle day to day operations for the Grand Rapids branch
· Excel in conventional, home improvement, government and sub-prime lending
2000 – 2004 Marigold Mortgage, Inc. – Grand Rapids, MI
Sr. Loan Officer
· Network with Realtors & Financial Investors around Michigan
· Use strong customer service skills to create a customer base
· Research and found new banks for the company to utilize
· Assisted in handling day to day operations
1999 – 2000 Gordon Group Mortgage – Grand Rapids, MI
Loan Officer
· Consistently ranked among the top Loan Officers in the company
· Established a strong referral base of business
· Executed several different profitable marketing programs
· Continued education in conventional and sub-prime lending
1998 – 1999 Choice Federal Mortgage – Grand Rapids, MI
Loan Officer
· Consistently ranked among the top Loan Officers in the company
· Established relationships with Realtors around the State of Michigan
· Ran several different marketing plans
· Educated in conventional and sub-prime lending
INTERESTS: Sports, Traveling, Movies, Computers, Family & Collectibles
References Available Upon Request
If you are shopping around for a mortgage, please consider me as your advisor. Not only will you receive low rates without bogus fees, you will also experience top notch service and have a mortgage advisor for life.
Thank you,
Jason Lash
Family Home Lending
(866) 366-5724
www.VirtualLoanPro.Com/www.HomeCredible.Com/www.HonestMortgageAnswers.Com/
Posted by Jason Lash at 12:08 AM
How do you find a good loan officer…..
Have you ever asked yourself why is the mortgage industry filled with fraud and “hustlers” only out to make a quick buck? Or why it is so hard to find someone that wants to actually help their customers as opposed to make as much money on a transaction as possible?
There are two main reasons. First are the liberal Mortgage licensing requirements. In a lot of states (including Michigan) there are no licensing requirements to become a loan officer. If you are 16 years old and can legally work in the United States, I can hire you as a loan officer for my branch. It is scary to think that you might be giving your personal information to someone with a long criminal history.
The second reason is the recent refinance boom. When rates fell to record lows in recent years, everyone was refinancing their homes. It was real easy for almost any loan officer to make a great living. Just about anyone who could work a calculator and possess average phone skills would make $40,000 a year. Now days, rates are still low compared to the 40 year average. However, most people redid their mortgage and the refinance boom is over. These same people who where trained only to quote rates on a traditional 30 year fixed mortgage over the phone are trying to survive in a slower market. Unfortunately, because majority of loan officers never learned how to structure a mortgage or qualify a customer are now struggling. This is resulting in a lot of “bait and switching” (they will tell you one rate and closing costs over the phone then surprise you at the closing table with different numbers). This is the only way they can make a living in this market. Also, because of their lack of experience, they will make mistakes and tell you that you qualify for a better program than what you really qualify for.
So how do you decide who to work with? Most importantly, don’t simply look at the interest rate you are getting quoted. Every loan officer’s interest rate shouldn’t be further than about .25 apart. Plus, rates change all the time. You can get a quote from one person and rates will change by the time you call for your next quote. So you might be under the impression that you are getting a better or worse deal. But the truth is the economy is always changing causing rates to consistently move. If anyone is offering you a dramatically better rate then anyone else then it is probably not an accurate number. Remember the saying “if it sounds to good to be true, then it probably is.” Also, avoid anyone that asks for an “application fee.” The truth is there is no such thing as an upfront application fee. There are a lot of lenders that go around asking for a fee up front. Once you pay for it you are financially committed to the loan. If you back out, you will lose your money. You will also find some companies will collect this fee with not ever having any intention of lending any money. Avoid working with anyone that asks you for an application fee up front.
I recommend when deciding which loan officers to work with, ask the following 5 questions:
1. What are mortgage rates tied to?
Correct Answer: Mortgage Backed Securities
Wrong Answers: 30 year treasury note, 10 year bond market, prime, etc.
2. When is the next important economic report or event?
It is important to know when events are coming up or when reports are going to be released and how they impact mortgage rates. This will help you decide when is the best time to lock your loan to insure the best rate. The majority of loan officers believe that rates raise or drop randomly and they are wrong. You should work with someone that knows what economic news is coming up and the impact it will have on your mortgage. Remember that bad news for the economy will generally result in lower mortgage rates and good economic news will raise rates.
3. How does the federal government changing interest rates affect mortgage rates?
They have no direct affect. However, the verbiage the federal government will use will have an impact on Mortgage Securities. It is more important to see how they word their statement then the actual rate change. If the federal government is predicting higher inflation, then rates have a tendency to go down. However, the Fed raising or lowering interest rates will have a direct impact on most credit cards and home equity loans.
4. Can you tell me live and in real time what the current rates are?
If you were going to invest in stocks, you would want to work with a stock broker that could tell you what the market is doing any time of the day. You should use the same line of thinking when it comes to mortgages. You want to work with a loan officer that can tell you what is going on in the economy and the impact of that information on your mortgage.
5. How long have you been in the business?
As I mentioned above, a lot of loan officers just got in the business within the last few years. Of course, not all rookie loan officers are “unethical.” But it is a safer bet to work with someone that has a longer track record. Not only do they have more experience at writing mortgages, but it is more likely that this person will take his career more seriously and be around down the road to answer future questions.
I have been a Loan Officer/Branch Manager since 1998. I have extremely high ethical standards not just for me, but for the network of business partners such as title companies, appraisers, real estate agents, financial advisors, lawyers, and C.P.A.’s. Not only will I provide you with top notch service, I can help refer you to several other partners that will help you accomplish your financial goals. While other mortgage companies have to send you spam mail, advertise bogus interest rates, or bombard the radio air waves with advertisements to grow their business, I have built my business almost entirely on referrals.
Thank you,
Jason Lash
Branch Manager
Family Home Lending
866-366-5724
http://www.VirtualLoanPro.com/http://www.HomeCredible.com/http://www.HonestMortgageAnswers.com/
Posted by Jason Lash at 12:49 PM
Thanks Alex......
I wanted to make my first blog entry recognizing the service Alex Toth has provided. As one of my top loan officers, not only did he bring in a lot of business, but he is one of the hardest working and most ethical people I have ever worked with. He made a good living helping others. Very few people can say that. I wish you the best of luck in your web site development business and I look forward to working with you in the future.
Thank you,
Jason Lash
Branch Manager
Family Home Lending
866-366-5724
http://www.VirtualLoanPro.com/http://www.HomeCredible.com/http://www.HonestMortgageAnswers.com/
Posted by Jason Lash at 9:38 PM
