I am sure you have seen the post by Title companies, Lenders and training companies on the impending new TRID regulations. How will this change the way you do business? Will it make life more complex? Will it cause delays? The answers to all of this is a solid MAYBE. I know that sounds non committal but let me explain. First you have a new regulations, set of forms and new responsibilities with a new order of doing things all set forth by the government (I know whats not to love). So yes there will be missteps here and there. None will be life altering unless a lender really screws up and gets a huge fine by CFPB. So the basics are that lenders now have to produce 2 different forms, one an est and one a closing document that will compare the initial est to the closing and make sure it is with in tolerances and must be done well in advance of the closing date (this is of course the same steps but now they are done in advance of drawing closing documents.). As long as the lender is upfront and accurate in the prep of the initial estimate of fees and there is no changes (example – the seller is now asked by the buyer after prep of the initial estimate for credit to apply to escrow or loan cost.) then all is as was and it moves to closing. If there is a change then a new closing disc. form is required and a waiting period is imposed. After the waiting period the loan my close. I know it is as clear as mud to many but in essence we are doing the same thing but we need to do it sooner in the loan process to make sure that the closing goes smooth.
Paso Robles Loans
When it comes to home loans in Paso Robles, you have options. But there’s only one lender with more than 15 years of experience and more than $300 million in transactions closed that knows the Paso Robles loan market better than the rest. Christopher Austin is a Paso Robles loan officer and divisional vice president for a leading mortgage company.
So what do you need to know about applying for a new loan or refinancing – and more importantly, how your lender can assist in the process? First, there truly is no “one size fits all” or even “one size fits most” option when it comes to Paso Robles loans. What worked best for a relative or friend may not be the loan program that’s best for you. No matter the circumstances of your financial history or property for purchase, Christopher Austin communicates with you, your realtor, the seller’s agent, the title company, your insurance agent, and more, to get the transaction closed successfully and swiftly.
From origination and processing to underwriting and closing, the Paso Robles loan process can be an emotional one. After all, for many clients, the Paso Robles loan they’re obtaining is for their family home. With Christopher Austin, you get more than a Paso Robles home loan officer. You get Christopher’s knowledge and expertise of the Paso Robles loan market, superior customer service, and the comfort and compassion of a good friend.
Whether your schedule permits an in-person meeting or you need to start the process remotely via phone or chat, Christopher Austin offers complimentary consultations to discuss available loan options guidelines, and more.
In preparation for your loan consultation, you’ll want to gather some important documents:
- Pay stubs (or proof of self-employment income),
- Tax returns for the last year or two,
- Documentation of any non-employment income like interest and dividends, retirement, and social security,
- And the most recent two months of bank statements for any checking and/or savings account you have.
Common Paso Robles Loan Questions
What’s the difference between an appraisal and a survey and an inspection? And, why do I need both or all for my Paso Robles loan?
For an appraisal, and appraiser formulates an opinion of the property’s value for the lender, while during an inspection, the inspector educates the buyer about the condition of the home and its major components. The appraisal is to establish the value of the home whereas the inspection details the home’s condition in regard to existing and potential future problems.
A survey, on the other hand, goes to the question of the marketability of the house. The surveyor determines whether the house is within the property borders, whether there are any encroachments on the property by neighbors and the extent to which any easements on the property may affect legal title.
Typically, the type of financing you are seeking determines what documents you’ll need to obtain. In some cases, you will need an appraisal, survey, and inspection.
To help compare your options and decide which Paso Robles loan program fits your property, situation, and financial goals the best, call The California Mortgage King Christopher Austin at (805) 806-0088 or message him for a FREE consultation today. He’ll treat you like royalty!
Paso Robles Mortgage
If you’ve recently found a home in Paso Robles or the surrounding area and need a new mortgage, or if you’ve been thinking about refinancing your Paso Robles mortgage, there’s one lender who’s king of the Paso Robles Mortgage market.
Christopher Austin is a premier mortgage lender in the Paso Robles area, San Luis Obispo, and beyond. With more than 15 years of experience, Christopher Austin can help you learn about different mortgage programs available and which option is the best choice for you. Call or send us a message today to set up your complimentary in home, over-the-phone, or in-office mortgage consultation. Christopher Austin, The California Mortgage King. He treats you like royalty!
When you’re looking for a Paso Robles mortgage, there is no “one-size-fits-all” answer. Mortgages come in all shapes and sizes, and the one you choose depends on a variety of factors, including:
- Your budget,
- The amount you can afford to put down,
- The interest you’ll pay,
- The term length,
- And many others, depending on your situation.
Christopher Austin, the premier Paso Robles mortgage lender, offers free consultations in-person or over-the-phone about the variety of mortgage programs available. To help you prepare for your consultation, you’ll want to gather up your pay stubs (or proof of self-employment income), tax returns for the last year or two, documentation of any non-employment income like interest and dividends, retirement, and social security, and the most recent two months of bank statements for any checking and/or savings account you have.
Some of the Paso Robles mortgage programs that Christopher Austin offers are:
- 203k
- FHA
- USDA
- 100 percent financing
- Reverse mortgages
- Jumbo loans up to $2 million
- 97 percent conventional
- 95 percent no MI conventional
- Homepath
- And other niche loan offerings.
Common Paso Robles Mortgage Questions
I check my credit scores all the time, why is what you pulled lower?
Lenders in different industries use different credit scoring models to gauge your risk as a borrower. The mortgage industry uses different scoring models than say, auto lenders do. In some cases, we may use a blend of the scores made available by the three credit reporting agencies.
To help compare your options and decide which mortgage program fits your Paso Robles home, situation, and financial goals the best, call The California Mortgage King Christopher Austin at (805) 806-0088 or message him for a FREE consultation today. He’ll treat you like royalty!
AG land and rural home loans.
Do you live in a rural area of the central coast or anywhere for that matter? Many times if you do have a lot of acreage a lender will turn you down! If you have bare farm land with no home you are declined even faster. I have the pleasure of announcing the availability of true agricultural loan products. From raw land to a farm with a owner occupied home or a large commercial operation we have a great product mix to get your
loan approved.
Monday AM market report.
A string of bullish news headlines are pushing Stocks higher, at the expense of Bonds.
Today holds no economic reports due for release today and the rest of the week’s calendar is on the light side. The Treasury will be offering up a boatload of government securities this week, which could impact the Bond markets. China dumped a lot of debt on the markets as well with little to no negative impact.
I am recommending floating to start off the week. If anything reverses ill send out a lock alert asap.
