Residential Mortgage Network, Inc. NMLS#: 1495

There are so many things to consider when buying a home, trying to figure out if you are being offered the best upfront isn’t something you should worry about! Watch out for these red flags when considering a lender for a Conventional loan! #MortgageProfessionals #MortgageLender #MortgageBanker #ConventionalLoans

When it comes to deciding to buy a home, we know it can be daunting! That’s why we recommend, first things first—talking to a lender! Starting with a lender helps avoid the agony of falling in love with a home on Zillow or Redfin only to find out it’s out of your budget. Sometimes, you don’t even know what is possible before you have a conversation with a lender, so we recommend starting there! #MortgageLender #HomeBuying #MortgageProfessionals

Red flags VA edition 🚩:   What to watch out for when choosing a lender for your VA home loan – this program is one of our favorites and often gets a bad rep because many lenders don’t know how to do them! Make sure you chat with a local lender who does the program EVERY day to make sure you are getting the most accurate information up front.

About 85% of the purchase agreements that land in our inboxes have documents missing that are typically required by a lender.   A good rule of thumb, if it’s mentioned in the pre-approval—we need it! #MortgageProfessionals #LoanOfficer #Lending #MortgageLending

There are so many questions about how lenders will handle buyer paid commission. Don’t worry, we’ve got you! We’ve been following along and working behind the scenes to make the transition smooth. We do ALL the loan programs (Conventional, VA, USDA & FHA) on a very regular basis so we understand each one. Check out our cheat sheet to help you understand maximum seller contributions (aka seller credits) based on loan type. And don’t forget, you can always call us with any questions—we’re here to help! #MortgageProfessionals #Lending101 #Lending

There is a reason we go on and on about how important a SOLID pre-approval letter is! This buyer had an accepted offer on a home from a pre-approval letter with another VA lender. It was in process for three weeks with that lender and then they got denied. This exact buyer contacted me when they made this offer and I told them they couldn’t qualify yet. They told me they had a letter from another lender so they were still going to “give it a try”. That poor seller!   If you’re nervous about a pre-approval letter you get handed as a listing agent, don’t just “hope” it’ll be okay, suggest they get a more solid letter before you waste time with an empty promise!

Don’t let earnest money payments thwart the mortgage process! Save yourselves (and the borrower) a headache and collect from the “Do” column not the “Don’t. #EarnestMoney #MortgageProfessionals #LoanOfficers #Lending101 #MortgageLending

Don’t let the date fool you, this really isn’t a joke! Our Cedar Rapids office is moving—today! Starting today we will be in a new office at 1853 51st Street NE, Cedar Rapids, IA. This is just one building East of our old location and easy to find—we can’t wait to see you there! #MovingDay

While there are sometimes options for those without a score those options are extremely limited and often result in higher rates.  While Dave Ramsey may have some good financial advice, he is slightly skewed in his thought process regarding credit! Questions? Send them our way! We are always happy to educate no matter what age and make sure a credit score is built the right way.

If a Veteran has a 100% service-connected disability, they are exempt from property taxes. Much like new construction, it will take some time for that to kick in – but eventually their taxes will fall to $0. When that property is sold, the new buyer will not receive a tax proration credit. The new buyer also will not pay property taxes for a bit, but it’s uber important the new buyer and their lender know there won’t be a tax proration credit. #MortgageProfessionals #MortgageLender #MortgageBanker #VALoans #TaxExemption