As a homebuyer, you want the best rate and the best terms, which is why I’m always amazed when buyers or other mortgage brokers are only looking at one loan product. We are always looking at all our options when closing homebuyers.
Take for example my latest closing.
Jannet and James just started looking at properties in Tampa. They had moved here from Illinois and were looking to buy a new home. They’d started looking for properties online, but were struggling to find a home because of their conventional loan qualification amount.
They were looking to get pre-qualified and thought that because they had a substantial down payment, a conventional mortgage was the way to go.
Sometimes this is true, but often there are alternative products that may suit your specific needs better.
Fortunately for Jannet and James, their realtor, Donna knew Debbie at Debbie Cooley Mortgage. Debbie told them about the VA loan program, which can offer low-interest rates and no funding fee if you meet certain requirements. That meant Jannet and James could qualify for more money and get into their dream home.
They were incredibly excited when they found the house that was just right: it had three bedrooms, a pool, two car garage, and all the space they needed. Because of Debbie at Debbie Cooley Mortgage, Jannet & James were able to add an additional $50,000 in buying power.
As soon as Debbie got them approved for a loan and started working with the seller’s agent to set up an escrow account, Jannet and James were able to close on their home within 19 days of finding out about it—and without having to worry about being able to pay off their mortgage every month.
If you are a Veteran and want to see if you qualify for no funding fees or if you are a homebuyer and want to know more about mortgage products beyond the “typical” 30-year conventional loan, give us a call 727-688-2851.
Debbie Cooley | NMLS # 210817
Have questions about your specific situation? Schedule a free consultation with Debbie or call 727-688-2851.