Jevon Domench's (drj1330) Blog

Mortgage and Lending - Summit Mortgage
One of the additional problems in our industry today is that investors are unable to obtain financing for their rental homes if they have more than 5 financed properties in their name(s).  All major banks, credit unions and other outlets have completely shut down the availability of funds to thos...
Have you seen the latest headlines?  The US Treasury is working on a new plan to help revive the ailing housing market by reducing mortgage rates on new home loans, according to people briefed on the situation.  The plan, which is at preliminary stages and could change, would involve using govern...
Interest RatesWhen is the Best Time to Lock? I always advise my clients to lock in their interest rate at the earliest opportunity.  Gambling with a client's interest rate is never advisable.  In my business, I have a standardized system in place that we adhere to for all of our clientele. A mort...
I have recently been presented with an opportunity. I have been servicing a major builder for the past 8 months (SW WA mostly) as a preferred lender. Although builder accounts have not been 'sought after' given the current market conditions, this one is still selling 20+ homes a month in my count...
I was asked by a fellow industry professional about how to separate yourself from the competition in this ever shrinking market.  My response was concerning the 203K FHA loan.  Below is what I had posted and I hope it can create success for you as well: "There has been a significant increase in t...
For those of you who have been struggling with the news of DPA going away, fear not!  A solution might be just around the corner: Washington, DC - September 16, 2008 By: Nehemiah Corporation of America A Bill that would save seller-funded downpayment assistance from being eliminated on October 1 ...
This month HUD set the time frame for deleting Down Payment Assistance.  As DPA (Down Payment Assistance) programs help first time home buyers, it seems ridiculous that HUD would take away potential buyers from a market that desperately needs them.  Privately funded DPA's have been responsible fo...

Jevon Domench

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