a focus on your concerns
TRANSCRIPT
opesadvisors.com
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�����������������| Personal Finance Advisor ����������������������� 650.931.0605
A Focus on Your ConcernsRegardless of where you go to get your loan there are always the concerns of ge� ng a great rate and an appropriate loan program, having a streamlined loan process and working with a responsive and diligent Mortgage Advisor. We do these, and we do them well! But there is much more to buying a house.
Let’s take a look at the concerns that all par� es in the loan process need to handle. A lender that simply tells you how much loan you qualify for only takes care of the concerns on the le� . At Opes Advisors, we take care of all concerns, those of a lender and, most importantly, those of our client.
What our Clients Care About:
• What home can we really aff ord to buy? We don’t want to be ‘house-poor’ and we don’t want to buy too li� le and have to move in a few years.
• I rent now and I’m s� ll not even sure it makes sense to buy?
• How do my current expenses play into this aff ordability ques� on and how will my expenses change over the years?
• Will we s� ll be able to save money for re� rement despite our home mortgage, property tax, and other home expenses? How much is enough?
• Can one of us quit working to raise our young children? How does that aff ect the long range projec� on of our asset growth?
What Lenders Consider:
It all comes down to this: What’s the borrower’s ability to repay a loan? borrower’s ability to repay a loan? borrower’s ability to repay a loan?So, they look at:
• Credit Score
• Income
• Debt
• Equity Risk – how much is the down payment vs. the purchase price?
• Assets – how much in reserves?
• How much of a down payment should I make vs. loan I should take?
• How does private school come into the picture? Does it make more sense to pay a premium to buy a house in a be� er public school district?
• Can we hold on to our current house as a rental property when we buy our new home? And even if we can, is this a good strategy?
• How much risk do I need to take with my investments so I’ll have enough in re� rement? How much risk is too much, given my needs?
• How much of a remodel on our exis� ng home can we really aff ord to make? How do I judge if it makes sense as an investment vs. simply a lifestyle decision?
650.222.0386Phil CaulfieldBranch Manager | Mortgage AdvisorNMLS 386911