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Mortgage and Lending |
RAINER 2,805 |
Chris Patagonia | ||
Finance | ||
location_on Hayward, CA — Patagonia Finance | ||
web Chris Rodrigues- Mortgage Loans In The East Bay |
Mission : To educate, listen, and locate the best possible loan for his clients. I pride myself on exemplary customer service - before, during & after the transaction!
Personal History: Before joining the Patagonia Finance, Chris grew up mostly in Sunnyvale, California. After graduating from Salinas High School in Salinas California, Chris went on to recievehis AA degree in Economics from Foothill College and continued in Economics when he transfered to The University of San Francisco. Chris then traveled through Europe and moved to Paris, France to continue in his studies and immerse himself in a new culture and a new way of living.
Chris later returned to the Bay Area and worked as a Restaurant Manager and Bartender. Knowing that he would eventually want to earn his real estate license and become a loan officer, He made the decision to find a successful broker that he could work with as an assistant. Making him the thrid generation in his family to continue on in the Real Estate Industry. It turns out this was the best decision he could have made...
Patagonia Finance specializes in residental and commercial loans ranging from $100,000 to $10 Million. In short, Patagonia Residental/Commercial offers many benefits other brokers cannot.
Just for instance, we offer a Buyer Assited Monthly Mortgage (BAMM) that only our certified loan officers can offer through a not for profit company called MARPA Funds corp.
Marpa Funds has a grant program called BAMM This grant program helps to pay the buyer's mortgage each and every month for up to 36 months. Qualification is very simple and unlike other grants there is no credit or income qualifications. "If you qualify for the loan to buy the house, you qualify for the Grant".So what's the catch?
The seller has to contribute to Marpa Funds pool (a trust account), Marpa Funds is a Not for Profit Organization. The contribution is made at the close of escrow, not before.
Here's how I see this working out and a couple of key points:
All things being equal, the BUYER would save $404 a month in the above example using this program. The SELLER would net the same amount either way. The SELLER could also have contributed to buy down the BUYERS Rate, (this is something that some lenders are pushing these days), but the difference the rate reduction makes is going to amortized over 30 years or until they refinance or move. This program concentrates the difference in the first 24 to 36 months, when the BUYER needs it most. According to the comparison appraisal approach used to value properties, this method better preserves the prices of a neighborhood. I would rather see my neighbors sell using this than to reduce their prices. (it adds more value to my home) For the LISTING AGENT, they can advertise that 123 Easy St is a BAMM home and if you buy it (versus the same house down the street) Marpa Funds will pay up to $1,000 a month towards your mortgage. As a buyer, which house do you think I'm going to want to see?Here is a simple but powerful rule, always give people more than what they expect to receive.