Entries by lindseyh@jvmlending.com

VA vs. FHA; Differences & Similarities

Realtors often confuse VA and FHA guidelines b/c the loans are somewhat similar in that they are both backed or insured by the Federal Gov”t. There are, however, many differences as well. This blog will set them all out. Appraisals – Similar The appraisal requirement for FHA and VA are largely the same. Our Appraisal […]

Why A Shoe Shine Man Thrives In The Digital Age

My son shared this excellent story about a shoe shine man in his downtown Sacramento building. With Amazon, big tech, big banks and “big” everything else threatening to take over the world, this story is a great reminder of how to not only survive, but to thrive. Long story short – the shoe shine man […]

Pre-Quals Vs. Pre-Approvals; Huge Difference!

PANICKED BORROWER ON VERGE OF LOSING DEPOSIT We had a borrower in contract come to us a few weeks ago in panic mode. The reason? He was on the verge of losing his earnest money deposit b/c his loan had just blown up at America’s largest mortgage lender. The loan officer had only done a […]

Mark Cuban: “More Sales Cures All”

RATES AT 2014 LEVELS We have not seen interest rates this high since 2014, and both the mortgage and real estate industries are in panic mode b/c volumes are dropping. MARK CUBAN And, it reminded me of a blog I wrote in 2014 where I quoted something Mark Cuban said – “More Sales Cures All.” […]

When Training Beats Experience! How and Why

“Thank you again for your hard work… It’s amazing you guys can close an FHA transaction in 2 weeks…the seller couldn’t believe how fast it happened – lol” We received the above comment from a very seasoned and busy escrow officer yesterday, and we thought we’d share it 🙂 WHEN BRAINS & TRAINING BEAT EXPERIENCE […]

If You Owe Income Taxes, Can You Get a Mortgage? Yes!

INCOME TAXES OWED Income tax liabilities are a frequent issue during tax season, and worthy of addressing again. Borrowers can get mortgage financing if they owe income taxes, in most cases. This is important b/c borrowers often have limited funds for a down payment and cannot afford to pay their taxes without depleting those funds. […]

Vodka And Lenders Are The Same! (OR NOT)

ALL VODKA’S ARE THE SAME Vodka is just pure alcohol with some water added, and there is no difference among the brands. I have been saying this repeatedly for years, much to the annoyance of friends and co-workers. My assertion was backed up recently by this excellent Planet Money Podcast, called “The Vodka Proof.” According […]

Change Your “Mental Models” to Better Solve Problems

NEW “MENTAL MODELS” FOR PROBLEM SOLVING Our new Marketing Assistant, Lauren Cary, came across this excellent article about the need to shift your mental models, and she wrote most of the blog too. The article, which I highly recommend, is called “Mental Models: How to Train Your Brain to Think In New Ways,” and it […]

Seller Rent Backs & Owner Occupancy Rules

OWNER OCCUPANCY Fannie Mae, Freddie Mac and FHA all require buyers to move into a financed property within 60 days of close of escrow to meet owner-occupancy requirements. As a reminder, FHA offers only owner-occupied financing (FHA offers no investment property financing), and Fannie and Freddie of course offer much better terms for owner-occupants b/c […]

VA Financing! Key Questions Answered & Explained

Today’s Blog was written by Abigail Martin from our team. We want to answer some common questions regarding VA loans to help our agents negotiate and close more VA purchases. VA loans represent one of the most competitive financing options available with respect to interest rates, fees and down payment options. In addition, VA loans are […]

Great Tips for More Five Star Reviews! A Necessity!

FIVE STAR REVIEWS ARE AN ABSOLUTELY NECESSITY IN 2018 Numerous five-star reviews are an absolute necessity in 2018. You need them on multiple platforms as well. We sponsored a huge Realtor Mastermind Event on Monday where a gentleman named Cody Gibson (a huge KW producer and coach) spoke. One of the big takeaways was his […]

25 Principles of Adult Behavior – A Must Read

A friend sent me these principles over the weekend. I loved them so much that I forwarded them to Heejin and our senior team members. They loved them as much as I did, and the 25 Principles are now part of our onboarding process for new team members. The principles were written by John Perry […]

Appraisal Differences Explained! Conventional vs FHA vs VA

This blog was written by our Appraisal Manager, Beau McGlasson. Agents and borrowers alike often find the appraisal process confusing and opaque – it’s why we consistently field questions on what appraisers look for when inspecting a property and how agents can best prepare. Not only can appraisers’ opinions on value make or break a […]

Work Less to Succeed More; A Necessity

“FREE DAYS” NECESSARY FOR FRESH IDEAS The renowned business coach Dan Sullivan’s primary message for all entrepreneurs is to work less. His system involves three kinds of days: Free Days, Focus Days and Buffer Days. Free Days involve nothing work related. Focus Days involve money-making activities. And Buffer Days are for preparation. Sullivan is adamant […]

Is Inflation Back? Houses Are An Inflation Hedge!

INFLATION RAVAGED THE 1970s The only thing that ravaged the 1970s more than the bad music, hair and clothes was the high rate of inflation. High inflation rates hurt economies b/c they create uncertainty, increase interest rates and decrease purchasing power and economic investment, among other things. Inflation is primarily a result of the Fed […]

Lessons from President Grant – Avoiding Victimhood

A good friend of mine gave me Ron Chernow’s 960-page biography of President Grant for Christmas, and I not only loved it, I found it wonderfully inspirational. President Grant failed miserably time and again; he was cheated and lied to by his family and closest friends over and over, and he endured viciously unfair insults […]

Low Appraisal – Options for Buyers

As soon as we receive a low-value appraisal report, we work quickly to analyze all options (usually in the order below) with both the realtor and the client. We always strive to resolve a low appraisal issue within 1 business day, as long as both the realtor and borrower are fully responsive and on board. […]

Leveraging Yourself Virtually with MyOutDesk

We often encourage Realtors to leverage themselves by hiring an assistant, but many are afraid to take the leap. They often have no idea how to hire someone, or they are simply afraid of the overhead. A great solution may be MyOutDesk. MyOutDesk offers highly qualified staffing solutions with candidates from overseas at very affordable […]

Need Income and Bonus History

We often have self-employed borrowers come to us who are rolling in profits and cash, with perfect credit and everything else a good borrower needs. BUT, they do not qualify for conforming financing. The reason is that they often lack the necessary income history. We almost always have to average the last two years of […]

Are 2 Kitchens Allowed? Garage Conversions? Friendly CPAs

2 KITCHENS USUALLY NOT ALLOWED This question comes up often, so we thought we’d revisit it. Lenders will usually lend against a property with two kitchens IF both kitchens have permits. If one of the kitchens is not permitted (also known as unwarranted), lenders will usually not lend against the property, primarily b/c the extra […]

Testimonials = Necessity; EASY To Get With Reach150!

BUSINESS DEPENDS ON REPUTATION AND TESTIMONIALS Much of our business success depends on referrals and online reputation, and prioritizing this part of our business is essential to thrive in today’s market. With respect to borrower testimonials, we have had enormous success with Yelp, with over 250 Five-Star Reviews at last count. The mainstay of our […]

Debt Ratios Explained; Very Important! Not Boring – I Promise

OK – this probably is boring, but it is super important b/c almost every competitive mortgage loan available requires some sort of income verification and debt ratio calculations. This is a good thing b/c it ensures borrowers can actually make their payments (unlike the pre-2008 mortgage world). Many borrowers and Realtors are confused about debt […]

Five Most Important Things Every Real Estate Agent MUST DO to Crush It in 2018

27,000 Things Realtors MUST DO… There is literally an endless supply of lists of things every real estate agent “must do” to crush it in 2018. At last count, there were about 27,000 “must do’s”, including writing business plans, reading more books, negotiating better, finding your niche, eating frogs, meditating, etc. Fortunately for everyone, we […]

Predicting the Future, and Happy New Year!

PREDICTING THE FUTURE In 1893, Chicago hosted a hugely successful “World Fair” where governments, companies and individuals showcased the most promising technologies of the time. Scientists and inventors were asked in a poll to name the technologies that would most influence the next hundred years. And – not one person named the automobile. They simply […]

Bitcoins, Bubbles, Burning Bankers; Beanie Babies

In 1307, King Philip IV of France couldn’t pay his massive debts to the Knights Templar. So naturally he accused them of false crimes and burned them at the stake. I stole that story from a recent WSJ article called Hooray for Bitcoin. It illustrates two things: (1) it’s an excellent way to eliminate your […]