<ul><li>Market Changes </li></ul><ul><li>Guaranteed Rate Solutions </li></ul><ul><li>Why choose Guaranteed Rate </li></ul>...
Market Changes <ul><li>Federal Housing Bailout and Government Stimulus Package </li></ul><ul><li>Second Mortgages </li></u...
Guaranteed   Rate  Mortgage Solutions <ul><li>FHA & VA Loans </li></ul><ul><li>Conventional Fixed and Adjustable Rate Mort...
FHA Loans <ul><li>Guaranteed Rate is a government approved FHA mortgage bank </li></ul><ul><li>Lower down payment –  only ...
VA Loans <ul><li>ZERO down payment is required in most cases </li></ul><ul><li>NO monthly Mortgage Insurance </li></ul><ul...
Conventional &  Jumbo Loan Programs <ul><li>Conventional Fixed & Adjustable Rate Mortgages: </li></ul><ul><li>SFH –  5% Do...
<ul><li>  </li></ul><ul><li>3% Down Payment   Programs  (Fannie Mae’s  My Community  & Freddie Mac’s  Home Possible ) desi...
Home Buyer Programs <ul><li>First-Time Home Buyer Tax Credit </li></ul><ul><li>Up to $8,000 for homes purchased on or betw...
Guaranteed Rate Advantage <ul><li>Lowest Rates – Guaranteed! </li></ul><ul><li>More Products and Better Pricing </li></ul>...
Realtor Partner Program <ul><li>Value-added marketing tools to help Realtors build their business: </li></ul><ul><li>Broke...
About  Guaranteed Rate <ul><li>Guaranteed Rate was founded in 2000 and since its inception has experienced double digit gr...
Guaranteed Rate  In the News
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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

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  • Mktg Market Changes Guaranteed Rate Solutions040609

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

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