Blog - JVM Lending

Biggest Cause of Housing Shortage? Your Neighbor!

May 14, 2018/in Our Blog /by lindseyh@jvmlending.com

I am typing this blog from my home office and watching our two Corgis play and hunt in our backyard. Kevin (our male Corgi) in fact just caught a lizard and he is proudly strutting around the yard with the poor thing hanging out of his mouth. (And yes, it is as disgusting as it […]Read More

Friction & Middlemen – No Mas!

May 11, 2018/in Our Blog /by lindseyh@jvmlending.com

The primary reason Uber is so successful is not b/c it has nicer cars, or b/c it is cheaper than cabs. It is successful b/c they removed friction from the transaction. You get to just hop in an out of the car. Amazon is so successful not b/c it has a big selection or low […]Read More

Are We In A Housing Bubble?

May 10, 2018/in Our Blog /by lindseyh@jvmlending.com

The four most dangerous words in real estate: “This time it’s different” 😊 I stole that from a recent Planet Money Indicator Podcast about a potential housing bubble (it’s only 8 minutes long, so I highly recommend it). I blogged about a potential bubble in late 2015 here, and highlighted three potential “Bubble Indicators” from […]Read More

Wanna Get Rich? Get Bad Grades

May 9, 2018/in Our Blog /by lindseyh@jvmlending.com

Heejin and I attended a Strategic Coach event last week, and what I love most about these events is meeting so many successful entrepreneurs who closely follow Dan Sullivan’s teachings and get rich doing so. Most recently, however, there was one success story that really stood out. It involved a young man named Charles. I […]Read More

“Appraisal Management Companies” Explained. Why It’s So Important!

May 7, 2018/in Our Blog /by lindseyh@jvmlending.com

Every mortgage lender is required by law to order every appraisal through an Appraisal Management Company (AMC). AMCs maintain large pools of licensed appraisers who are randomly chosen to appraise properties when appraisal orders are received by the AMC. No loan officer is ever allowed to speak with an appraiser in regard to a particular […]Read More

WSJ: “Facing a Bidding War?” LOCAL is Better; Concerns About Double App’ing

May 3, 2018/in Our Blog /by lindseyh@jvmlending.com

The WSJ recently featured an article called Facing a Bidding War? Why a Local Mortgage Lender May Offer an Edge. (If you’re not a WSJ subscriber, we are happy to email pertinent excerpts upon request) Andrea Gordon, from Red Oak Realty, was quoted extensively. And what I loved is that she sounded like a marketing […]Read More

How To Lower Debt Ratios To Qualify For More

May 2, 2018/in Our Blog /by lindseyh@jvmlending.com

I explained what debt ratios are and how they work in a recent blog. But, I did not explain what borrowers can do to lower them. Here are a few ideas for lowering debt ratios and qualifying for a larger purchase: 1. Put less money down, and use down payment funds to pay off consumer […]Read More

Fast Closes In Slow Markets; Internal Appraisal Panels; We’re VERY Multilingual!

April 30, 2018/in Our Blog /by lindseyh@jvmlending.com

FAST CLOSE IN SLOW MARKET, WITH RENT-BACK One of our most successful buyer’s agents recently got her offer accepted by offering our 14 day close, even though the seller wanted a 30 day escrow. The agent offered our 14 day close with minimal contingencies and a 16 day rent-back, making her offer “as good as […]Read More

“No Points” “No Cost” “No Fees” = Higher Rates – ALWAYS

April 27, 2018/in Our Blog /by lindseyh@jvmlending.com

NO FREE LUNCH IN LENDING Real estate firms are constantly trying to get into the mortgage arena b/c they think it is easy money, and b/c they already have a captured market with their pool of agents. They, however, invariably underestimate how difficult it is to run a mortgage company profitably and compliantly. They also […]Read More

The High Risk of False Assumptions

April 26, 2018/in Our Blog /by lindseyh@jvmlending.com

WONDERFUL STORY FROM TWITTER I read a wonderful story on Twitter last week. The author of the series of tweets was a grad student named Thomas who sat in the front row of his class every day. A gentleman with a thick foreign accent, who Thomas did not know, sat next to him and always […]Read More

Your Lender Is A Reflection On You; Multiple Credit Inquiries OK!

April 25, 2018/in Our Blog /by lindseyh@jvmlending.com

A Few Important Reminders: We were speaking at a Realtor training seminar this week and the leader of the group told a story about losing a valuable client and tens of thousands of dollars of commission money. The reason? He referred his client to a lender with a two-star Yelp average. The client read the […]Read More

Minimum Income To Qualify For Various Price Points; Realistic Goals

April 23, 2018/in Our Blog /by lindseyh@jvmlending.com

Realistic Goals Based on Income and Down Payment Parameters One of the primary jobs of our Mortgage Analysts is to ensure borrowers have realistic home-buying goals. For example, a buyer with $6,000 of monthly income should not be looking to buy in a $700,000 neighborhood unless she has over $300,000 of down payment funds. Realistic […]Read More

Just Make Biscuits

April 20, 2018/in Our Blog /by lindseyh@jvmlending.com

I wrote this blog last July and recently came across it. With so much going on right now in the tech, real estate, mortgage and geo-political realms, I think it is an excellent reminder and message. I was listening to The Investors Podcast recently when I heard an investment guru give excellent advice in response […]Read More

Higher Paid Staff = More Freedom, Better Team, Better Company

April 19, 2018/in Our Blog /by lindseyh@jvmlending.com

MOTORCYCLE TRIPS AND FREEDOM My brothers, sons, nephews and I take a motorcycle trip every summer. As an aside, my three brothers and I all own and run our own businesses. My Mom (who reads this blog) thinks it is b/c she raised fearless entrepreneurs. But, the rest of us realize it is probably b/c […]Read More

Condo vs. Single Family Residence; $400 of HOA Dues = $70,000 Of Purchase Power

April 18, 2018/in Our Blog /by lindseyh@jvmlending.com

$380,000 CONDO vs. $450,000 SINGLE FAMILY HOME What has a higher payment? A $380,000 Condo with $400 in HOA Dues? Or A $450,000 Single Family Residence with NO HOA dues? Answer: The payments are about the same. With 20% down and a 4.5% rate, both will have total payments* of about $2,375 per month. We […]Read More

Condos: 3% Down Instead of FHA; We’ll Walk You Through the Options

April 16, 2018/in Our Blog /by lindseyh@jvmlending.com

IS THIS CONDO COMPLEX FHA APPROVED? We constantly have buyers and Realtors asking us if various condo complexes are FHA approved. We use this Hud Website to see if a condo complex is approved, and our answer is usually no. This is b/c so few condo complexes are FHA approved. We realize this often shuts […]Read More

Lender Credits For Closing Costs

April 13, 2018/in Our Blog /by lindseyh@jvmlending.com

LENDER CREDITS INSTEAD OF SELLER CREDITS Seller credits for closing costs are few and far between in this hyper-competitive market; merely requesting them in fact is often a deal-killer. But – we like to remind Realtors and borrowers alike that lender credits for closing costs remain a viable option for cash-strapped buyers. There are a […]Read More

Home Value Estimates: Agent CMAs vs Zillow vs Appraisals; We Like CMAs

April 12, 2018/in Our Blog /by lindseyh@jvmlending.com

ZILLOW GONE BAD A Realtor we know had to spend over an hour last week explaining to a seller in a high-end market why her house was worth $200,000 less than Zillow said it was. Her property sits on a 1.5 acre parcel, but her backyard is a cliff. Zillow did not account for the […]Read More

In Defense Of Millennials

April 11, 2018/in Our Blog /by lindseyh@jvmlending.com

COMPLAINTS ABOUT YOUNG WORKERS A famous essay claims that young people new to the workforce exhibit: “slipshod assistance, foolish inattention, dowdy indifference, and half-hearted work…” The author went on to complain about the “imbecility of the average [person]” and about the failings of young workers in general in an essay that was well-received and loved […]Read More

Appraisal Waivers – Much Ado About Very Little, So Far

April 9, 2018/in Our Blog /by lindseyh@jvmlending.com

APPRAISAL WAIVERS – FEW AND FAR BETWEEN Appraisal Waivers or “Property Inspection Waivers” (or PIWs) are popping up more often nowadays. This is a good thing b/c they speed up transactions and save borrowers $500 or more. BUT – they are not surfacing so often that we have reason to celebrate. Some lenders are actually […]Read More

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