Joe Costa Mortgage Notes For Realtors Volume 4: Learn Your Role And "Own It"

Learn Your Role and "Own It"

This is a concept that requires a real estate agent to understand that your mortgage professional is on your side and very much so wants to get your joint client through a successful escrow. Understand, just like your mortgage professional doesn’t want to overstep his/her boundaries with advising your client on the real estate side do the same on your end.

1-Let the mortgage professional shine and “do their thing”. After all you trusted your mortgage professional to refer your client to them. Follow through with that approach and “Own It”. If you need to have another lender review a particular file that has a challenge, discuss this with current loan officer so everyone can be clear and on the same page.

2-Learn your strengths and weaknesses 

3-Inspire through desire 

Call Joe Costa, San Diego's mortgage professional, with Park Place Financial Group or go to www.joecostamortgagenotes.com to gain insight on how to make your escrow process run more smoothly

Getting a Low Interest Rate

When you are offered a "rate lock" from your lender, it means that you are guaranteed to keep a specific interest rate over a determined period while you are working on your application process. This means that your interest rate will not get any higher while you are working through this application phase. Rate locks can vary in length, between 15-60 days, with the longer time periods usually costing more. You can get a longer period for your rate lock, but in making this choice, you will probably have a higher interest rate than you would have with a shorter rate lock period.

In addition to going with a shorter rate lock period, there are several ways that you can attain the best mortgage interest rate. The bigger downpayment you pay, the better your rate will be, since you will have more equity from the beginning. A borrower can opt to pay points to improve an interest rate for the term of the loan, which means you will have to pay more initially.  Joe Costa from San Diego's Park Place Financial Group educates his clients on this strategy and is a good option for certain borrowers to pay points up front to improve the interest rate over the life of the loan. You will pay more initally but you will come out ahead in the end.  

Determine How Much You Can Borrow

A couple of factors determine the amount you can borrow when purchasing a home.  What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our Park Place Financial Group website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.  Call San Diego's premier mortgage professional Joe Costa at (646) 245-7856 or apply online at www.parkplacefg.com.

Determine How Much You Can Borrow

A couple of factors determine the amount of money you can borrow.  What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website www.parkplacefg.com to determine your monthly payment amount. San Diego, California's Park Place Financial Group will also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation. Call Joe Costa today at (646)245-7856.

Joe Costa's Weekly Mortgage Segment on 1170am

Tune in and get Radio Active with Joe Costa, the CEO of Park Place Financial Group.  Joe's informational weekly mortgage segment is on 1170am every Friday at 8pm.  He provides his San Diego, California listeners with real life loan scenarios and helps to educate buyers on the importance of choosing the right mortgage lender/broker who will find the best home loan product for that individual's life situation.  Go to www.joecosta.info

The Benefits Of A Mortgage Broker

There are many benefits for a borrower when obtaining a loan through a mortgage broker as opposed to a retail lender such as a large bank.  A mortgage broker is able to shop around and find many different loan options for the borrower whereas a retail lender is restricted to only the loan products that the institution carries.  A mortgage broker has the ability to be much more hands and community oriented with a borrower allowing the broker to build a solid realtionship with his/her client and walk the clients through the entire loan process.  A retail lender, on the other hand, is often restricted to telephone conversations and online access to their clients.  At  Park Place Financial Group, a San Diego, California based mortgage brokerage firm, we thrive on our philosphy that we are value based and relationship oriented and work diligently to find the best loan products and financing that meet our client's needs. Call Joe Costa at 646-245-7856 with any questions.

Joe Costa at Park Place Financial Group Can Help You Get A Loan This Summer

Before looking to purchase a home this summer, call Joe Costa at San Diego, California's Park Place Financial Group for a loan prequalification or preapproval letter.  This makes it easier when you find the perfect home to know that you already have a lender in place.  Joe Costa has been in the mortgage industry for over 25 years and can answer any questions you might have regarding interest rates and financing for a variety of purchase loan products that are available.