Tag Archives: mortgages

Are Adjustable Rate Mortgages a bad idea for me?

Posted on March 5, 2011 by admin| 2 Comments

I’m about to buy my first house and many people are telling me different things about mortgages. Lenders are pushing the 5 Year ARM or 10 Year ARM. However my dad from the old school is telling me that a 30 fixed is the best because rates are so low anyways.

My situation:
I’m 25, I make 70K a year roughly 4K per month and I will be taking out a mortgage around 300 thousand dollars. I’m buying in LA buy only planning to live here for about 5-7 more years. I’m thinking that 10 year ARM would be the best option. What are some of your thoughts about fixed vs. ARMs. What is best for me?

30 year fixed right now is about 5.74%
5 ARM now is about 5.24%
10 ARM somewhere in between

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Posted in Mortgage Tips

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Can I advertise for Mortgage investors?

Posted on March 5, 2011 by admin| 2 Comments

I work for mortgage company and we would like to sell our existing mortgages, secured by real estate to private investors.
We have been told that you can’t do that without an SEC license. Anybody know?

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Posted in Mortgage Tips

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which lenders offer the most competitive zero down mortgages for physicians?

Posted on March 4, 2011 by admin| 2 Comments

which lenders offer the most competitive zero down mortgages for physicians?

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Posted in Mortgage Tips

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How does a former professional baseball player make the jump from mortgage sales to a more stable sales career

Posted on September 13, 2010 by admin| 2 Comments

I have been in the mortgage business for two years. Sales and the industry are down and I need to make a change. My only relevant sales experience is in mortgages, but I want to get into the pharma-medical sales industry. Any tips on how to land a great sales job for a tall handsome former professional baseball player?

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Posted in Land For Sale

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Buying your second home, and selling your first home?

Posted on September 6, 2010 by admin| Leave a comment

Prefer answers from those experienced in real estate sales or mortgages. Thanks!

We just bought our first home recently, but I am just curious how people manage the transaction of selling one home and buying their next home.

Do you have to buy first getting a mortgage based on your current income and whatever cash you have available to put down?

Do people sell first, moving their stuff into temporary storage and live in a temporary place so that they can use the cash from the sale of their first home in applying for the mortgage for their second?

Or does the mortgage company take into consideration that you are selling a home, so they assume you will come up with x dollars for down payment?

I kind of assume it is a combination of things…but what is best, in your opinion?

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Posted in Homes For Sale

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