Conventional Loan

Loan Advisor for your Southern California home

Posted on July 6, 2018. Filed under: Conventional Loan, FHA loans, First Time Buyer help, Homeownership, Lenders & Loan info, Loan Advisor, Making Life Easier, Orange County Real Estate | Tags: , , , , , , , |

mortgageloan

Need help with a loan for your home?

We value strong work relationships so much in our line of work. Successful home buying includes many different people and many different skills, and we couldn’t be as successful as we are without the help of our favorite referrals. When our clients are needing help with a loan to purchase their home or refinance on a loan they currently have, we frequently match them with Derek Beisner at RPM Mortgage.

Derek has an ‘advance approval’ program which basically makes buyers look as good as cash investors. This approval allows us to write out the loan contingency and close a loan in 21 days. In today’s tough market, this helps our buyer offers rise to the top of the pile!

Loan Advisor with RPM Mortgage

Derek Beisner has over 20 years of experience in the loan business. We have known each other through Orange County LeTip for almost fifteen years and he is the trusted mortgage lender in our group. He specializes in residential home purchases and refinance loans. His creative problem solving and forward thinking sets him apart from the rest. A key part of what he does for our clients and his own is a Custom Mortgage Analysis to determine the best loan option available that will suit their specific financial needs. This helps make sure each client has a loan that is going to work best with their lifestyle and financial situation. His expertise in the loan profession and his passion for serving clients, as well as, his determination to close on time will win you over (it sure did us)! Derek is one of our preferred Vow2Save lenders and he can loan in all states! Vow2Save is a very important program to us, allowing engaged couples to register for a down payment on their first home, so we only refer the best of the best to these couples.

derek

Mortgage Done Right

Derek’s Mission Statement shows just how reliable and easy he is to work with. It also shows you how seriously he takes his profession and the passion that allows him to do it so efficiently.

Mission Statement
My goal is to provide my clients with an unbelievable experience from start to finish with the loan process. By developing a vehicle for them to achieve the goal for their loan or refinance in a friendly and stress free environment.

It is my desire to conduct my business with the highest level of integrity and respect for my clients and co-workers.

And it is important to me to honor God in all that I do.

If you’re looking for help on a new or existing loan and you’re not sure who to contact the AskAngie team highly recommends Derek. Contact him at dbeisner@rpm-mtg.com or 949-637-9939 and if you’re looking for the perfect home to use that loan on contact Angie at 949-338-7408.

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Hot Topic: FHA or Conventional Loan?

Posted on September 22, 2017. Filed under: Conventional Loan, FHA loans, First Time Buyer help, Lenders & Loan info, Orange County Real Estate | Tags: , , |

Wondering which home loan will be best for you? Here’s some helpful tips

Lots of buyers have been questioning which loan is best for them and their situation. Honestly, it does depend on just that – your situation. We have put together some information on both of these loan options to make it easier for you to decide what you think is best for yourself! Some of the biggest, but most simple differences between FHA and conventional loans are based on their guidelines and who can apply for them. FHA loans are government backed programs that require a minimum 3.5% down payment. These loans tend to be best for borrowers with lower credit than necessary to apply for a conventional loan.

Conventional loans are open-market and are geared for people with a higher credit score, typically near 700 or higher. Rates tend to be a bit lower, and in most cases no Mortgage Insurance is required.

FHA used to be a much more expensive option, but after FHA MIP reductions in 2015 it is now a real competitor. However, FHA can tend to be more strict in requirements than a conventional loan is.

What does an FHA Loan Require?

FHA loans require homes to have the following in good working order:

  • stove
  • heat
  • functioning roof
  • locking doors and windows
  • non-lead based paint

If you are looking to buy a condo… it can only be in a FHA approved community. So if you are choosing FHA, you may have less home options available to you. FHA loans also require you to purchase mortgage insurance which protects the lenders from a loss. In January of 2015, the FHA reduced the annual mortgage insurance premium on a 30 year fixed rate from 1.35 % to 0.85% of the loan balance. This is leading to huge savings for many who want a condo but just don’t have the larger down payment.

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Okay, so which home loan should you choose?

There isn’t one specific answer that fits everybody. It all depends on you, your needs and wants, and what you can afford to choose. If you plan on owning your home for 6-10 years and you don’t mind refinancing to cancel your mortgage insurance you might choose FHA. If you can put 5% down, you plan on keeping your home for 10-20 years and you don’t like the idea of paying mortgage insurance for thirty years you may choose conventional!

If you are looking into buying a home and need help finding one along with deciding which loan option is best for you – we can help! We work with a lot of amazing lender contacts locally here in Orange County that we would love to set you up with. We like to match-make our clients with lenders that we think will benefit them the most. Depending on your personality, wants/needs, and what kind of loan you are interested in all helps us decide which lender will be best for you! Fill out the form below or contact Angie at 949-338-7408 for more information 🙂

 

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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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