Market Report for July 11-17 2010

Looking forward to a great week! Market Report for this Week- Lots of Economic Numbers- Should be Interesting! Stay tune!

http://bit.ly/aFxqR3



MORTGAGES ARE STILL BEING DONE!
FHA is still at 3.5% down payment and seller can still pay 6% toward closing cost/prepaids!

USDA is still at 0 down payment and seller can still pay 6% toward closing cost/prepaids!

VA is still at 0 down payment and seller can still pay all closing cost/prepaids!

Experience Counts!

Over the past months, I have received numerous “save the day” calls. Other lenders have had difficulties delivering on their promises and commitments, and fortunately if we are able to help out we are happy to do so.

As I hear the stories, there seems to be one common theme: all lenders are not alike. It makes me grateful for the experience I have. In addition, we are honored to be entrusted in your commission check and we understand the trust that you place in us!

Promises from un-experienced lenders are not panning out for whatever reason. On the other hand, my team and I – having been in the business for many, many years – have a high conversion rate and are closing loans. Period. We invite you to come back to the roots of our relationship and trust us to assist you and your clients with the highest possible success rate that is available in the industry. Borrower are not just a number or commission to us. WE CARE deeply about relationships with our clients and strategic partners and have an experienced, professional team to help guide all parties through all the ins and outs of our business.

The Davidson Group has been committed to a value oriented system that is built with a vision and purpose—this is what has allowed us to achieve the results we have been able to over the years and achieve a status in the top 1% of all mortgage originators in the United States. We could not have done it without your continued support and confidence (thank you!!).

At any time you have questions on a new loan, please be sure to call us directly. While we don’t mind “saving the day,” it creates less heart palpitations for everyone involved when we start right from the beginning. Don’t let a less experienced person “practice” on your borrowers. EXPERIENCE and KNOWLEDGE COUNTS. We know what we are doing, can spot issues early in the process, meet deadlines and close on time (we even close early). Simply contact us at 972-278-3400 or email us at ldavidson@servicefirstmtg.com. Have a blessed week! Linda

we are here for you

BREAKING NEWS….. We have USDA Money!!!!!!!!
Beginning Monday June 28, we are participating in a program that will allow us to close USDA loans! We are sooooooo excited about this and the opportunity that it gives our buyers! Because USDA technically still does not have funds (and will probably not for a while), we have a much larger risk in this program, but feel so strongly that our market/buyers needs it. It is still a ZERO down, NO monthly MI and the guarantee fee is 3.5% (which is rolled into the note). We are typically going to ask for a 640+ credit score with ratios no more than 29/41 (will look at exceptions on a case by case depending on the situation). Please give us 45 days to close USDA loans (as they have to be underwritten twice-once by us and then by USDA). Very few lenders are participating in this program and we are proud to be one of them!

Below are the areas/income limits. IMPORTANT NOTE: Some cities have been removed (marked through below) by USDA in anticipation of the upcoming census numbers- More cities could be removed- subject to change- ask me specifically an address and we can verify.

Also, I have 13 signs left that say “ZERO DOWN” for your listings- first come first serve :). As you know, we are a National Trainer for USDA and know this product well- don’t let others practice on your buyers. We ARE the USDA experts …. And we have USDA MONEY!


For Income Limits in other areas: http://eligibility.sc.egov.usda.gov/eligibility




No Down Payment to Qualified Borrowers
$0 Move-In Possible for Qualified Borrowers
No Monthly Mortgage Insurance
No Cash Reserve Requirements
Must Purchase in an Eligible Rural Area*

Seller can pay up to 6% of closing costs and prepaids!


*Eligible Rural Areas by County (List NOT inclusive). Contact our office for Individual Eligible Areas:

DALLAS
Seagoville
Combine




ROCKWALL
Rockwall
Royse City
Fate
Heath


COLLIN
Princeton
Farmersville
Nevada
Lavon
Prosper
Celina

Anna
Melissa
Westminster
Wylie


KAUFMAN*
Combine
Cottonwood
Crandall
Forney/ Heartland
Kaufman
Oak Grove

Oak Ridge
Talty
Mabank
Kemp
Grays Prairie
Rosser
HUNT
Quinlan
W. Tawakoni
Celeste
Commerce
Campbell
Long Oak

Caddo Mills





WOOD
Alba
Hawkins
Mineola
Quitman
Winnsboro
Yantis
ELLIS
Midlothian
Palmer
Bardwell
Red Oak
Ferris
Ovilla

Glen Heights
Italy
Milford



DENTON
Aubrey
Corinth
Little Elm
Justin
Roanoke
Krum

Highland Village
Lake Dallas
Ponder
Sanger
Pilot Point

TARRANT
Avondale
Azle
Blue Mound
Briar
Center Point
Crowley

Haslet
Lakeview
Oak Grove
Pelican Bay
Saginaw
Wheatland
VAN ZANDT
Canton
Edgewood
Edom
Fruitvale
Grand Saline
Van

Wills Point





HENDERSON
Athens
Berryville
Brownsboro
Caney City
Chandler
Coffee City

Eustace
Gun Barrel City
Log Cabin
Mabank
Malakoff
Murchison

Paynes Springs
Poynor
Seven Points
Trinidad


*Note Kaufman County- Outside city limits of Terrell is also included


CALL TODAY! (972) 278-3400


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8 Clever Ways to Land More Clients (Source: Realtor Mag)
Thought you would enjoy this. The last one is my favorite- great ideas!
http://www.realtor.org/rmosales_and_marketing/articles/2010/1007_selling_bestprospectingideas


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Appreciative Inquiry
I was talking to another mortgage professional in our industry and she said that she always starts her conversation with an Appreciative Inquiry. So for example “How long have you been so good at golf” or “How did you learn to be so organized” or “When did you realize that being a __________ was your gift”? I loved the idea and have tried to emulate it when speaking to others. For more information, see below…..

http://appreciativeinquiry.case.edu/intro/definition.cfm







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A Safe and Ticket-Free Summer
In just a few short days, drivers across the country will hit the road to celebrate the Fourth of July with friends and family. If you’re heading down the road this coming weekend, remember that it’s never a good idea to speed – both for safety and financial reasons. After all, an accident or ticket can ruin your holiday weekend.
So make sure you have plenty of time and that you plan the most effective route. And...you may even want to take a minute to find out if there are any speed traps on your route that you should know about. Thanks to the website speedtrap.org, you can easily read about speed traps in communities across the country.
Simply visit speedtrap.org and click on the state and then the cities that you’ll be driving through. You can even add a speed trap you know about, so others can benefit from your knowledge.
Whether you’re traveling a few miles or a few hundred, have a safe and ticket-free Fourth of July!

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Have a blessed week. Rates are incredibly low, it is a great time to purchase- Let us use our underwriting knowledge upfront to make your closings smooth and easy! Simply contact us at 972-278-3400 or email us at ldavidson@servicefirstmtg.com

We are never to busy for your questions and your clients and look forward to hearing from you!