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Mktg Market Changes Guaranteed Rate Solutions040609
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Mktg Market Changes Guaranteed Rate Solutions040609

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Realtors see what partnering with Guaranteed Rate can mean for your business

Realtors see what partnering with Guaranteed Rate can mean for your business


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  • Transcript

    • 1.  
    • 2.
      • Market Changes
      • Guaranteed Rate Solutions
      • Why choose Guaranteed Rate
      Agenda
    • 3. Market Changes
      • Federal Housing Bailout and Government Stimulus Package
      • Second Mortgages
        • CLTV > 85% are not eligible.
        • Stated Income eliminated
        • Non- Owner properties eliminated
      • Jumbo Loans
        • Market liquidity has led to more restrictive guidelines (i.e. higher credit scores, etc..)
      • FICO Restrictions
        • PMI requires a higher min FICO
        • Monthly premiums vary based on FICO score
        • Higher score = Lower premiums
      • Elimination of programs- Stated/No Doc
      • Declining Markets
        • More stringent appraisal requirements. Tougher to support value.
        • Additional PMI restrictions (Condos > 90% LTV, Non-owner properties ineligible, higher FICO scores required, etc.)
    • 4. Guaranteed Rate Mortgage Solutions
      • FHA & VA Loans
      • Conventional Fixed and Adjustable Rate Mortgages
      • Jumbo Loan programs
      • Affordable Housing Programs
      • First Time Home Buyer Programs
      • Lowest Rates in the Market
      • Realtor Advantage Program
    • 5. FHA Loans
      • Guaranteed Rate is a government approved FHA mortgage bank
      • Lower down payment – only 3.5% required
      • Gift funds OK for down payment 
      • More flexible credit guidelines make it easier to qualify
      • Lower Minimum FICO score, no income limits
      • Non-Occupying co-borrowers allowed
      • Loan Amounts vary by county (Go to https://entp.hud.gov/idapp/html/hicostlook.cfm for loan amounts)
      • Not just for first-time home buyers
    • 6. VA Loans
      • ZERO down payment is required in most cases
      • NO monthly Mortgage Insurance
      • Relaxed credit standards, so perfect credit is NOT required
      • NO income caps
      • NO reserves required
      • Flexible underwriting with expanded debt ratios
      • Seller or other parties may contribute up to 4% of the Veteran’s closing costs
    • 7. Conventional & Jumbo Loan Programs
      • Conventional Fixed & Adjustable Rate Mortgages:
      • SFH – 5% Down (Max 95% LTV)
      • Condos – 5% Down in Chicago area (Max 95% LTV); 10% Down elsewhere – Chicago MSA counties: https://www.efanniemae.com/sf/refmaterials/hudmedinc/hudincomeresults.jsp
      • Jumbo Loans – Adjustable Rate Mortgages:
      • Programs available up to $3,000,000 (varies by state – check for LTV/CLTV restrictions)
      • 90% Loan To Value Programs (varies by state)
    • 8.
      •  
      • 3% Down Payment Programs (Fannie Mae’s My Community & Freddie Mac’s Home Possible ) designed to help first time homebuyers
      • Higher LTV thresholds allowed under the program (depending on number of units and property location) – 97% LTV
      • 1-4 unit primary residences allowed  
      • Additional flexibilities for teachers, firefighters, law enforcement officers, healthcare workers and military personnel (varies by state & county) 
      • Closing costs can be paid from gift from a related person
      • Reduced mortgage insurance coverage levels 
      Affordable Housing Programs
    • 9. Home Buyer Programs
      • First-Time Home Buyer Tax Credit
      • Up to $8,000 for homes purchased on or between January 1 - December 1, 2009
      • Does not have to be repaid
      • Equal to 10% of the home’s purchase price up to a maximum of $8,000
      • Single taxpayers with incomes up to $75,000; married couples with incomes up to $150,000
      • Builder-Paid PI
      • Principal & Interest paid by builder for first 6 months
    • 10. Guaranteed Rate Advantage
      • Lowest Rates – Guaranteed!
      • More Products and Better Pricing
      • Faster Turnaround and Better Service: We Control the Transaction:
        • In House Underwriting Department
        • In-House Closing Department
        • In-House Funding Department
        • In-House Secondary Marketing Department – Best Pricing
    • 11. Realtor Partner Program
      • Value-added marketing tools to help Realtors build their business:
      • Broker Open Catering
      • Virtual Tours
      • Home Loan Analysis Sheets
      • Daily Mortgage Rate Search Engine
      • Neighborhood Reports
      • Just Listed – Just Sold Postcards
      • Co-Branded Custom Marketing (Postcards, Quarterly Newsletter, Flyers, Signage)
    • 12. About Guaranteed Rate
      • Guaranteed Rate was founded in 2000 and since its inception has experienced double digit growth each year, becoming the largest independent mortgage company in the nation -- and is growing strong.
      • Headquartered in Chicago, with over 600 employees companywide and offices throughout the U.S. and currently licensed in 43 states.
      • As a mortgage bank, we offer the best of both worlds --- the financial strength of a large bank and the flexibility of a mortgage broker.
      • Closed Loan Volume of $4 Billion for 2008
    • 13. Guaranteed Rate In the News