Planning on buying a house in Ontario, CA and looking to work with the best licensed loan officer to help with your home loan? Here are some traits and characteristics that you should be looking for when choosing a loan officer to facilitate your home loan needs.

Purchasing a home is a big step and working with the right mortgage professional will make the process an exciting one. These are the things you should be looking out for when deciding on your team.

Is the individual properly licensed to handle your loan needs, each loan officer must be licensed to discuss loan programs and interest rates, they will have a NMLS number, ask them for theirs before deciding to work with him or her, my NMLS # is 292056.

Are they knowledgeable in most all the purchase home loan programs that are offered today, such as FHA, FHA 203K, FHA EEM, VA, VA EEM, Conventional with 3% down, USDA-RD, Down Payment Assistance loan programs through the city, county and state bond programs, 1st time home buyer programs,  HUD 184 Native America program and CalPath home loan program.

Do they have a presence on the web so you can research to ensure they have the skills that you should demand when working with a loan officer. Google the loan officer's name and see what comes up, that will indicate what skills he or she posses and how dedicated they are to their business and craft. The last thing you want is working with a part time loan officer.

Can they communicate on your terms, such as phone, text and emails. How quick they get back you. Communication and customer service is the most key component in working with a professional. Calling, texting and emailing for status updates or questions you have should not take 2 days to answer.

Do they have a team to assist with the process of your loan if the loan officer is out sick or on vacation. You need an alternative staff member to contact just in case your primary point of contact is out of the office for any reason, their is no need to wait for their return. 

Is the loan officer close to you or at least in the same time zone, working with an online loan officer may not deliver the quality of service you deserve. Local is best, since that loan officer should know state specific loan programs that you can take advantage of or a local lender may have loan programs other lending institutions do not offer.

When purchasing a home you deserve and should demand to work with the very best our industry has to offer. Working with seasoned veterans does not always mean the best, interview your loan officer to ensure he or she meets all your checklist of needs regarding a home loan.

I welcome the opportunity to be your local knowledgeable licensed loan officer in Ontario Ca. I can be reached by email HERE or call / text me at 909-503-5600.

by Nathan Rufty  

3 Tips to Get a Loan Approval When Purchasing a House! 

Can't Get Pre-Approved for a Mortgage in Southern California? Here Are Three Tips to Try to Get a Loan Approval When Buying a Home!

Very few homebuyers can afford to buy a house upfront with cash, which is why banks and other financial institutions offer purchase home loans. Also known as mortgages, these types of loans let you make monthly payments to pay off the money you borrowed and the interest charged on that loan. If you can not get approved for a mortgage in California, try implement these few easy tips below.

Improve Your Credit Scores and Over Credit Report:

When applying for a home loan in California, the lender looks at your credit history and credit scores first. Your credit history contains a long list companies you borrowed money from in the past and present, it also shows your total debts, medical bills and if you had any foreclosures, late payments, collections, judgments and bankruptcies. Your credit score is a three digit number based on your ratio of debt to credit, any defaults on your account and any other issues will have an effect on your over all credit profile.

If a lender denies you for a home loan, get your credit scores before you apply again with another lender in California. Even something as simple as paying off more of your debt (pay the revolving balance debt down or off, do not close the account, leave it open) can increase your scores by a few points. Eliminating bad debts and removing any mistakes from your credit report can also increase your credit scores. 

Apply with a Cosigner, like a family member:

Applying for a loan with a cosigner is another option for those with credit issues or debt to income ratios that do not meet underwriting guidelines. The co-singer can help the over all pre-approval when you are applying for a purchase home loan. You want to find someone with a close connection to you such as a family member and someone who has a good credit scores.

Your cosigner will be agreeing to be responsible for that mortgage as well if you happen to default on that loan. The loan will also appear on the cosigner's credit report, which means you need to find someone who is willing to take a chance on you.

Look for Less Priced Home in Southern California:

When applying for a home loan, the lender looks at your credit history, your income, the ability for the down payment and other important qualifying factors to determine how much money you can borrow on a purchase home loan. Applying for a more expensive home might result in a rejection for that higher priced home. The lender will determine based on the information supplied that you may not be able to budget at a certain purchase price, applying for a home that is priced less might help your monthly budget to be able to qualify for a home loan.

It is possible for you to obtain a mortgage that meets your budget and buy a home of your dreams. Applying with a cosigner, improving your credit and looking at a different price point might help your chances in obtaining a full loan approval.

I welcome the opportunity to discuss your goals on purchasing a home in Rancho Cucamonga California. Please complete a short inquiry form HERE or call me directly at 909-503-5600. I look forward in hearing from you and reviewing your plans of homeownership.

by Nathan Rufty

Buying a home in California after a Short Sale or Foreclosure can be as little as 2 years utilizing the VA home loan purchase program with no money down!

After 2 years of having a short sell or foreclosure on your primary home, you can purchase a home utilizing the VA home loan with no money down. Explore the opportunity to own a home again after you had a small hiccup on a previous home. The previous foreclosure could not have had a VA loan on that property, if so need to reinstate your VA eligibility in order to use this type of financing to purchase a home.

This time around you have licensed mortgage professionals in the market place, like myself to guide and present you with options on purchasing a home with a fix rate for 10, 15, 20 or 30 years. The VA program is available for active and retired military personnel the opportunity to own a primary home with no money down. 

Need to have active verifiable employment and have an overall credit profile that meets current VA underwriting guidelines. Do not get discouraged on what you hear on the news, from friends, family or co-workers, speak to a direct mortgage lender who lives and breaths this business everyday such as myself who knows and understands the VA home loan program. I would like the opportunity to explore and exhaust all avenues to place you back into homeownership status.

And if we can not make offers today, then lets get you in a position down the road where you can make an offer on a home in California.

Lets get started, does not hurt to explore and see what lays ahead. I am here to assist and present you with options on your next home purchase. With over 20 years associated with mortgage business, it is important to have a professional working with you to ensure that you have a solid loan that will only work to keep you in the home.

I look forward in hearing from you very soon to update you on the loan options in today's lending environment like the VA home loan program that offers no money purchase loan in California.

Let's get started by completing a short inquiry form to know your options on this best performing purchase program. Click HERE to get started!

18 Questions to Ask when Interviewing a Real Estate Agent in Rancho Cucamonga, California when Buying or Selling a Home!

 

If you are looking to buy a home or sell a house in the city of Rancho Cucamonga, CA, you’ll probably want to not only find the best agent for your needs, but one with integrity and one that knows the real estate industry. They do not have to be your best friend, but they should be someone that you genuinely know, like and trust, because you will be spending a lot of time with him or her.

Start with recommendations from family and friends. Ask what they liked about them. What they did not like. And then take it one step further — spend about 30-45 minutes and ask them these questions!

1. How long have you been selling residential real estate?
2. Is it your full time job?
3. What are your credentials?
4. What other type of real estate training courses have you had?
5. How many homes did you sell last year?
6. How many buyers did you represent?
7. What’s the average time to sell a home (if listing your home for sale)?
8. How do you plan to market my home for sale?
9. What’s the average time it took you to sell your listings?
10. What’s the average time you spend with someone buying a home (if buying)?
11. How close to the asking price, versus the sales price, are you able to negotiate (both for buyers and sellers)?
12. Will you represent me exclusively (if you are a buyer)?
13. How many lenders do you work with (if you need a mortgage)?
14. Why do you like working with these lenders?
15. What other service providers do you work with?
16. Do you get any compensation when you refer them to me?
17. How will you communicate with me?
18. How often should I expect to hear from you?

Just a couple of things to keep in mind when selecting the right Realtor®. Experience is not a guarantee that the person is successful. Ask additional questions if you don’t understand the answers. Ask for references. Make the telephone calls. And before you buy a home in Rancho Cucamonga, by all means get pre-approved ahead of time.

I welcome the opportunity to review your income, credit and ability for the down payment and present you with loan options that will fit within your budget. My goal is to ensure your best interest are mind when you are looking to sell or purchase a house in Rancho Cucamonga, because this will be one of if not the biggest single purchase you will ever have and it should be done right the first time.

by Nathan Rufty