Lock, Shop, and a 10 Day Offer

If i was a buyer in today's real estate market with rates constantly climbing and with no short term end in sight, there are two things that I could guarantee:

1. I would have a lot more gray hair in my beard!

2. I probably would throw in the towel and try again a year later

...and waiting another and paying someone else's mortgage for another shouldn't' have to be an option?

Sound familiar?

Well if it does, then I may have a solution for you!

There is a program that I have access to as a Mortgage Originator where you could lock your rate for either, 60 or 90 days, while you shop and make offers on homes so that you have peace of mind that the rate you were qualified with won't be constantly change andthus won't be changing your projected mortgage payment (mind blow)!

?It's called the Lock and Shop Program and it's offered by CMG Financial and is available for Conventional, FHA, VA, and USDA loan programs

Here are a few high-level bullet points needed to make some mortgage magic happen (additional conditions may apply):

• only 30 and 15yr terms available
• An Underwriter Approval is needed upfront to qualify to lock in rate
• 45 days to identify a property with either lock option (aka go under contract)

But Ralph, 45 days is not a long time to find a home go under contract...

...well, that is the beauty of this program because you now have an upfront, Underwritten file and you could now offer a quicker close time of 10-15 business days because all the hard work is done upfront with only an appraisal needed to resubmit back into Underwriting for the magical three words we all love to hear, Clear to Close.

What's a Clear to Close you ask?

That's where an Underwriter has Fully Approved your file and "Cleared" you to get to the Closing Table!

Being able to offer quicker closes (compared to other buyers and mortgage companies) increases your chances to WIN on any offers you make on your dream home.

This is just one of the many programs I have access to, for more information, please feel free to send me a message or comment below to discuss your options.

Thanks so much for reading, and remember...

I Loan It. So You Can Own it.

Until Next Time!

I?left the Oil and Gas Industry after 11 years before deciding to get my Mortgage Originator License and go full time. If you need home financing or have questions about home financing, I'm just a phone call away.

RALPH TAPIA?| Sales Manager & Mortgage Loan Originator NMLS# 1420289 9811 Katy Freeway Suite 1025 Houston, TX 77024 C: 281.881.0612 [email protected]