Referral Partner Appreciation Night

Come join us for our 3rd quarter Referral Partner Appreciation Night at D. Rowe's Restaurant on August 16th from 6:00 -8:00. We simply use this time to socialize and take some time to say thank you to all of our referral partners for all that they do for Professional Mortgage Group, Inc.


Appetizers and Drinks will be provided. Be on the look out for you personal invitation. We hope to see everyone there!!!


Thank you again to all of our referral partners. You are truly valued.


Brought to you by Professional Mortgage Group, Inc.
Columbia, Missouri.

Incentives to Buy!

We have already mentioned in previous posts that it is a buyers market. Buyers are out and about getting great deals on real estate at this very moment. It also looks like this trend is not going away anytime soon. With this being the case, sellers are having to add incentives to make their property more appealing to prospective buyers. I am sure you have seen offers out there. Plasma TVs, lawnmowers, furniture, etc.. I recently read an article that detailed these incentives and they made some very good points. First, be leery of too good to be true offers. Many times these incentives are built into the asking price. This is not always the case and I recommend you do your homework and use common sense. They also pointed out that buyers want practical incentives. These are incentives they can use. A vacation package is nice, but not exactly the feature they are looking for in a home. In some ways this cheapens the way the property looks. Buyers really want their interest rate bought down by the seller or other value added incentives. Get the point! As a seller you should keep this in mind. As a buyer, you may want to think about what you want. Chances are you can get it!

Here is a list of the most commonly used incentives:

1. Price reduction - This is the most common. Everyone looks at the bottom dollar. If their budget is $200,000 and you are asking $225,000, a plasma TV is probably not going to make them go for it!


2. Paying points - This is a great tool. If you are willing to reduce the price of your home by $5000, think about using that money to buy down the buyers interest rate. This will allow them to get more bang for the buck. This also takes that person who has a $200,000 budget and lets them get into the house that is $225,000 for the same monthly payment! Remember, making the monthly payment comfortable for the buyer is key!


3. Down payment aid - Many times it is tough for buyers to come up with down payment money. If the seller carries a small down payment, a deal might be able to be struck!


4. Seller paid closing costs - This item is becoming more and more popular. Ask for this because you will most likely get it. If so, you can actually get into your dream home for "NO" money out of pocket!


5. Home Warranty - These are nice and can give a buyer the piece of mind they want. Just make sure it is a quality warranty and that all areas of concern would be covered.

These are the most common incentives used today, but there are others. Some choose to leave furniture or built in sound systems. There are all kinds of creative ways to entice buyers and as a buyer you can take advantage.

Happy Hunting!

Brought to you by

Professional Mortgage Group, Inc.

Your Columbia, Missouri Mortgage Broker

Furniture

Thanks to all who helped make our recent Ashley Furniture promotion a HUGE success! We had the pleasure of helping out a plethora of clients get into homes and at the same time furnish it as well. Perhaps in the future we will offer something similar to this!

A special thanks go out to the following realtor's; Tim Kuchta (3D Realty), Hayes Murray (Plaza Real Estate), Eric Miller (Central Missouri Real Estate), Jason Thornhill (Weichert Realtors-First Tier), Anna Garrison (Century 21 The Advantage), Sharon Chitwood (House of Brokers), Travis Kempf (Plaza Real Estate), Dennis Jordan (Weichert Realtors-First Tier), and Dennis Lynch (Remax Boone Realty).

I also want to thank the following individuals at Ashley Furniture for making this a success; Matt Snodgrass, Roger Snodgrass Jr, and Ed Franks without your help and dedication this would have not been possible.

As usual any feedback is welcomed!

Brought to you by The Professional Mortgage Group
Your Columbia Missouri Mortgage Broker

A Great Mortgage Experience

Many times I have used this space to educate on the mortgage process or let people know some of the pitfalls that come up in a mortgage loan transaction. Today I want to relate a good experience that I had as the broker in the transaction and why it was a good experience.

The borrower was young and recently out of college. They were working a full time job and felt it was time to buy a home. So, they got pre-qualified and began their search. They took their time to find a great buy (not too hard these days!!!) and we started in on the process. They were actively involved the whole way through, asking questions and providing the documentation almost as soon as I asked for it. All along they appreciated my constant contact and information about the status of their loan. In the end they got the loan they wanted and closed on time. A great experience for everyone!

Now let's examine why this worked as well as it did.

1) The buyer had kept their credit clean and was able to qualify for a conforming loan.
2) They had themselves pre-qualified to make sure they looked for a home that they could afford.
3) Taking the time to find a house that they could get a deal on will be a long term plus.
4) They understood that as a lender I needed to know about their finances and they were organized and able to document all their financial claims.
5) They knew that, in order to stay on top of their closing date, I needed to be in frequent communication with them and their realtor.
6) Finally, they kept the proper attitude that finding a home and buying it should be a FUN process.

If you keep all of these things in mind when you purchase your next home, your experience should be a great one too as long as you find a lender that you know and trust.

As always your questions are welcome!

Brought to you by Professional Mortgage Group, Inc. in Columbia, Missouri.