resources

Real Agents, Buyers……Check out this simple sick Appraisal Gap Strategy to save you thousands!

Realtor Cheat Sheet

So what’s happening with rates these days?

2024 Mortgage Rates & Real Estate Forecast is Here!

95 Tax Deductions for Real Estate Agents

Meet our new family member as we discuss second/vacation homes….

Don’t freak out about getting your credit pulled and here’s why….

So here’s how you can buy an investment property even if you can’t verify your income…….wait, what?!?

DSCR programs

What’s the difference between a condo vs a townhouse?

Why is everyone calling me when my credit is reviewed?

Large deposits….why do I need to source and season?

So what is a 2nd home compared to an investment property?

3 inspections to consider when buying a home

Went through a divorce and now you are trying to buy a house? Watch out for this pitfall!

Helping Move-Up Buyers with Debt Consolidation

100% Financing…..down to 600 credit score!

Here’s a handy dandy ChatGPT cheat sheet for Agents :)

Wow! Client almost doubling their mortgage rate, is shaving the years down to 16 years, & saving $739/mth!!

#debtconsolidation

Here’s a mortgage payment savings life hack that most lenders don’t want you to know about

Home Prices Continue to Turn Higher

So, the FHFA (that's the Federal Housing Finance Agency) just released something called the House Price Index. It's like a report card for how much home prices are going up. But there are some differences between this FHFA one and the Case Shiller index. The FHFA index only looks at homes with "conforming loan amounts," which means loans that meet specific requirements. It doesn't count houses bought with cash or big loans. On the other hand, Case Shiller includes all types of home purchases. In May, home prices went up by 0.7%, and it was the same in April too. And guess what? Compared to last year, home prices are now 2.8% higher! That means houses are getting more expensive. Also, if we compare the current prices to the peak prices in June 2022, they're now 2.3% higher. That's a lot! Oh, and here's something interesting. FHFA seems to be doing better than Case Shiller because it's not counting cash buyers who can get discounts. So, FHFA is showing even stronger growth. The FHFA thinks that by the end of 2023, home prices might go up by 7% in total! That's a big increase! So, overall, both FHFA and Case Shiller are saying that home prices are going up, but FHFA seems to be showing even stronger growth. Exciting times for the housing market!

Appreciation still going up?

Don’t Bet Against The Champ……The Housing Market

Real Estate Report Card, Community Report and the Appreciation Calculator…..Who wants one?

With higher rates, this is a HUGE opportunity to purchase …… #BlendedRate

Myth Buster: VA closing costs are not limited to 4%

Not all PreApprovals take the same amount of time upfront…and here’s why

If you are a nurse and looking to buy a home, please watch this……

How to buy multiple properties with a low down payment

Gregg Pechmann’s Homebuyer Handbook

You can buy your first starter home with one 3 to 3.5% down If your a qualifying veteran you can do this with 0 down! You have to live there for 12 months But then you can move out after that year and rent the home, while buying a new home with only 5% down The new home has to be a move up to a larger home, closer to work, better neighborhood, there has to be some obvious desirability as to why you’ll occupy the new home purchase from your previous one But this is a great way to climb the property ladder while building a real estate portfolio along the way ! Like, Save, Comment! What questions do you have ?

FHFA rescinds controversial DTI LLPA!!

Might want to dip your toe into the market, sooner than later

My Phone was blowing up all week regarding: LLPA (Loan Level Price Adjustments)

Ok, My phone was blowing up all week on this topic and this morning so lets dive into it LLPA ….. Loan Level Price Adjustments Why are higher credit clients getting charged more than lower credit clients as of May 1st? #ThePechmannTeam #RossMortgage #Credit #Mortgage

Listen to this STAGGERING stat when it comes to buying a home vs renting #WOW

Stats don’t lie. If you are looking to purchase, you must understand the market and where its going

Agents……Here are some parameters when using real estate commission to purchase your home

First Time Home Buyer, Low Down Payment Options for Conventional Loans

Media distorting the Real Estate numbers…..once again ..

Market Update – March 24, 2023

Stocks and Mortgage Bonds are both lower to start the day, after Mortgage Bonds were nicely higher in the early going. Fed Balance Sheet The Fed just released their latest balance sheet figures, showing that they Fed balance sheet has risen by almost $400 Billion in the last two weeks. Why are banks borrowing if everything is so sound as Powell and Yellen have stated? Could it be for safety, or do they really need it? We have to remember, the Fed is the lender of last resort – Even at their new bank term lending facility, where banks can trade in their 2% long term bonds and get face value, they have to still pay about 4 3/8 on that money. So they are getting a 2% return, but have to pay 4 3/8%. This would be like taking out a home equity line of credit and then putting it in your bank at 2%...it would not make sense…unless you REALLY need it. This shows that the banking sector is weak and liquidity is a problem. Deutsche Bank The latest European bank under pressure is Deutsche Bank. This comes after a precedence was set in the UBS takeover of Credit Suisse. Normally, Bond holders would get precedence over equity holders in the case of a bankruptcy or liquidation. But in the UBS deal, equity holders received roughly 20 cents on the dollar, but CoCo Bond Holders (contingent convertible Bond holders) received nothing. This set off some unintended consequences, where now holders of these Bonds at Deutsche Bank are feeling much less confident they will get paid in this type of scenario, causing a sharp selloff. It's also causing insurance on these Bonds to go sky high, and weighing on the stock price of Deutsche Bank. This all comes at a time where banks want to sure up their balance sheet and capitalization...And this is of course not helping. Durable Goods Orders Durable Goods orders in February were down 1%, which was worse than the 0.6% gain expected. And this comes after a negative revision to the previous month, making this number look better than it would have been without the downward revision. These are bigger non frequent purchases you have often have to finance – big ticket items - And they are more expensive to finance since the Fed has hiked to 5%. The Fed wanted to destroy demand, and they are doing so with success. Next Week Tuesday: Case Shiller HPI (appreciation data), FHFA HPI (appreciation data) Wednesday: Mortgage Apps, Pending Home Sales Thursday: Q2 Final GDP Reading, Initial Jobless Claims Friday: PCE (Personal Consumption Expenditures) Technical Analysis Mortgage Bonds are battling with their 200-day Moving Average after opening above it this morning. This will be a critical level to watch - A clear break above this level means the next stop is at 101.67. The 10-year has moved down to 3.37%, but did get as low as 3.29%. Begin the day carefully floating.

How higher rates can be a benefit to your buyer?

Need to watch this short video presenting the facts when it comes to inventory and inflation

Mortgage Presentation for The Wolfe Family

Do you know that you can buy a house from a family with zero money out of pocket?

Gift of equity

FHA Mortgage Insurance is dropping!

Real Estate Report Card, Community Report & The Cost of Waiting

Real Estate Report Card, Community Report & The Cost of Waiting

Online Application

CLICK HERE TO APPLY ONLINE: https://greggpechmann1.floify.com/ Find Me: https://linktr.ee/thepechmannteam

Weekly Wisdom Tip: Have you ever wondered what to inflate your tires to?

We all need to do this to repel against the media ….

For all my contact info, click here: https://linktr.ee/thepechmannteam

This Weeks Spotlight: My Credit Guru, Jim Hogle

Jim has been someone that I have trusted for over last 12 years with our clients. ...he is the ONLY one I trust in the credit repair business https://linktr.ee/thepechmannteam #thepechmannteam #hancockmortgage #HMP #mortgagetips #realestate #creditcard #creditrepair #creditscore

The myth about the Fed raising interest rates…….

When to lock in your rate? How do you get a lower rate?

This is what we are doing for Top Agents…..no brainer

Not every PreApproval is created equal…….

Why do you need a home inspection?

The Real Estate Report Card…..a must a have!

ALL I need is just the county and state, and I can produce these within second for you

What is and why do you need “Earnest Money” when submitting an offer?

Great tool to remember important emails….

Boomerang is the bomb!

Some big NO, NO’s after you are under contract….

Things not to do........Whether under contract or if you are just trying to get preapproved

A lot of misinformation when it comes to mortgage rates …..

Perspective always matters …..sharing some personal history

So where is the best place to get an accurate credit score?…..and it’s NOT Credit Karma

Buy now before the stampede of buyers come out of the woodwork….

Last week I mentioned To circle May 10th as a day to watch for mortgage rates However, this is the reason why you should buy now…..

How we got another client off the fence and is now a happy homeowner….

Then 2/1 buy down strategy is such an advantage to the buyer AND seller

An easy way to save some money!

What are the different types of loan products?

From 100% financing to more down, many different options to look at.......

How do student loans play into debt to income ratio?

Student loans and how they are calculated in regards to getting a mortgage?

Why you need to circle May 10th when it comes to mortgage rates…..

May 10th should be a start of big improvements for mortgage rates

How do you improve your credit score?….and watch out for this misconception ….

Look, I’ve been there. Tough financial times are rough. In this video, I go over when you can purchase again.

Look, we all have had financial tough times In our life. The key is to learn from them and to prepare. In this video I go over when is a good time to purchase after you’ve even through the dark valleys. I’ll share a little piece of what I went through

Looking to buy first home? Start with this to get ready and don’t use Credit Karma!

Credit karma is useless.

2/1 Buy Down Strategy…….Great benefit to the buyer AND the Seller!

2/1 buy down makes so much sense to the buyer and seller

Weekly Mortgage Rate update: 1/17/23

Rates and what to watch out for

What can buyers do to build their credit?

Tips on how to improve your score

The Importance of Getting Pre-Approved!

Why should I get Pre-Approved?

All funds for closing must be documented and verified…….you can’t just show up at title with a check

Get all of your documentation in early!

Get your documentation submitted early – don’t wait until the end of the process when you are also busy trying to pack and move. It creates extra stress for everyone, most especially yourself!

All pages of bank statements are needed

even if the last pages say blank on them, we still need all of them and here is why....

Myth about pulling your credit

Most think pulling credit drops your score. However, its not even on the credit pie chart as one of the factors....

Shop for your home insurance right away!

Shop for insurance Early and get the information to processing at least 3 weeks prior to closing date

New changes to what “Large Deposits” mean when it comes to USDA

Notice from USDA that in January, they have changed their guidelines on deposits that are not payroll –they are using $1000 as the guideline for large deposits so $1,000 and greater will need to be sourced

Watch out for Large Deposits!

Large deposits that will need to be sourced seasoned. Self-Employed as well—if there are any large deposits that are NOT normal, those will need to be sourced.

If you have to pay off credit cards to qualify, do it at closing!!!

We will help you streamline the paperwork, do not send checks out to credit card companies......pay them at closing!

Gift Funds: Make sure you wire the funds directly to the title company

Have the donor directly wire from their account to the title company, as opposed to the borrower depositing donors funds into their account. ........makes more work on both sides depositing funds.

Try not to use credit cards during the process

This increases credit card payments when we do our soft pull - payment increases and that could throw off DTI

3% down conventional VS FHA

Take advantage of this low down payment financing to avoid going FHA

Paying off credit cards to qualify?

If you have to qualify for a mortgage by paying off credit cards, make sure you follow the process this way

What happens to your loan once you close

Want to see what really happens to your loan after it closes, check this out...

Overview of the Bond Market for Earl Smith

Real Estate Report Card……a must have

All I need is the county and state, and will have the report done for you in seconds

Tips for a Smooth Closing

These are the Do's and Dont's

Creating your account to complete the application and upload your docs. *** IMPORTANT: Save your password!!***

In this video , I show you how to create a Floify account. This is important This where you will complete an application AND upload your docs.....securely. Important: Save your password!!

How to sign your disclosures

This short video shows you how to sign your disclosures Be on the lookout for an email from notifications@idsdoc.com. Always check your spam folder Also, my Sr Loan Partner will send you an email as well, breaking it down

The Prelim CD is Necessary but not the final numbers

The prelim CD has to be signed 3 days or more before closing, so you can close on time. These are usually not final numbers

PMI Options

Single Paid Lender Paid Monthly Paid

Cost of Waiting to Purchase a Home

The cost of waiting can be far more expensive

Why are rates going up so fast?

Mortgage rates fastest increase in 40 years....why?

Example of our PreApproval Packet

Covering all the basis for the preapproved client

Moving Guide

Hero Home Moving Guide

Credit Repair Guide

Hero Home Credit Repair Guide

Home Buying Guide

Hero Home Program

From PreApproval to Cash Offers

Say goodbye to contingent offers