resources

Getting Your Offer Accepted Checklist Darren Vorrath

Getting your offer accepted is a process. This checklist provides a roadmap to making it happen!

How To Increase Your Buying Power!

With the recent rise in interest rates, affordability and qualifying has become an issue. In this video I show how to increase your purchasing power without raising the payment!

What Is An Assumable Mortgage And What Are The Benefits?

In a rising interest rater market having an assumable mortgage on your home can be a selling point!

Fed Hikes Rates Again – Mortgage Rate Reaction

Today July 27, 2022, the Federal Reserve raised the Federal Funds rate by .75%. Many people think that mortgage rates will rise accordingly. However, I explain in this video what happened with the longer term rates and mortgage rates. If you have a home equity line of credit (heloc), your rate may be directly affected by the action the Fed has taken. You may wnat to consider consolidating your first mortgage with your heloc and any other debt that may be affected by the fed rate increase, such as credit cards.

How To Maximize Your Seller’s Proceeds After A Price drop

You've dropped the price on your listing. You are now getting offers, but the seller doesn't like the $$. How can you work with these offers? This video shows you how to create a win-win situation for the buyer and sellet that will hopefully produce a signed contract.

Title Requirements For Different Types Of Transactions

Conventional, FHA, and VA transactions have different requirements in terms of who has to be on the promissory note and/or the deed of trust.

Qualifying For A Mortgage With Bank Statements Instead Of Tax Returns

What Happens If The Appraised Value Is Less Than The Purchase Price?

How An Adjustable Rate Mortgage (ARM) Works

What Are Mortgage Points?

Getting Your Offer Accepted Checklist

The Difference Between Prequalification And Preapproval

Our Lock Shop And Home Guarentee Program!

Understanding Your Credit Score with Brian McFadyen

Buying A Home After A Bankruptcy, Foreclosure, Or Short Sale

VA Loan Information

Tips For Winning In Multiple Offer Situations

Bank Statement Loan Program

Self – Employed Can Qualify With Bank Statements Instead Of Tax Returns

Most lenders use the last two years of tax returns to determine the income of self-employed borrowers. We offer an alternative - qualifying using monthly bank statements. The bank statements can be either personal bank statements or business bank statements.

How To Counter A Low Offer With Terms Rather Than Price

When an offer comes in at a price lower than what the seller is expecting, there is a way to counter that offer with financial terms that can make both the buyer and seller happy! In this video you will learn how to counter with a seller credit toward the buyers.

How We Help Our Clients In A Rising Rate And Multiple Offer Market

In a time when rates are rising and multiple offers are being made on homes, buyers are looking for an edge. Here at Prosperity Home Mortgage we provide the "edge" they need with our Lock Shop and Home and Closing Guarantee.

Supplemental Property Taxes – What Are They And How It Works

After you close escrow you most likely will get a supplemental property tax bill. This flyer describes what it is and how it is calculated.

My Preapproval On Steroids!

This is a sample of the preapproval I can send to a listing agent. It includes the following: - preapproval letter that can be downloaded - $10,000 close on time guarantee certificate that can also be downlaoded - a short video describing the borrower's qualifications and the preapproval detaisl - A video describing how we can keep the deal alive if the appraisal comes in low

Vesting A Home In A LLC Or Corporation

Most lenders will not allow vesting a 1 to 4 unit residential property in a LLC or corporation. This flyer describes how these entities can be allowed.

Pledged Asset Mortgages

A Pledged asset mortgage allows the use of cash and/or marketable securities as collateral, which may reduce the down payment normally required. This program can also help with financial planning for someone with a portfolio.

Unique Jumbo Loan Programs Not Offered By Big Banks

Big Banks have very stricy underwriting guidelines. This flyer highlights some unique programs that are more flexible.

Cross Collateral Loans Using Two Properties To Qualify

A cross collateral loan typically uses two properties to help minimize the cash down payment, using the equity in the two combined properties instead.

Non Warrantable Condo and Condotel Financing

Non Warrantable Condos and condotels have their own guidelines for financing. This flyer highlights some niches we can help with.

Bridge Loans To Help You Buy A Home Before Selling Your Home

A Bridge Loan can help you extract the equity from your current home to use to buy a new home.

Using Assets As Income To Help Qualify For A Mortgage

In some cases a percentage of your assets can be used as income to help qualify for a mortgage.

Documents Needed For A Mortgage

Lenders require documentation to verify your income, assets, and liabilities. This flyer describes what documents lenders ask for.

Prequalification Vs Preapproval – What’s The Difference?

What is the difference between being prequalified and being preapproved by a lender for a mortgage? This flyer describes what being prequalified or being preapproved means to a homebuyer.

A Mortgage Process Roadmap

The Basics Of Home Buying

This flyer gives you a basic overview of the home buying process from what you should do first through closing escrow on your first home! Sometimes buyers think about if it makes sense to buy now or wait - this presentation gives a buyer some topice to think about - https://philcaulfield.lenderlaunchpad.com/presentation/11907/

Freddie Mac Borrow Smart Low Down Payment Program

Tips For Your Loan Application Process

FHA Appraisal Repair Requirements

Fannie Mae Home Ready Low Down Payment Program

3% Down First Time Homebuyer Program

FHA and VA Can Help Those With Credit Challenges

Pay Cash And Get A Mortgage After Closing

Rental Property Loans

Information For First Time Buyers

Interest Only Payment Jumbo Loans

Low Down Payment Jumbo Program

Lock Your Rate While Shopping For a Home

XLR8 Speeds Up and Simplifies Getting You Approved For a Mortgage

Down payments: Myths vs Reality

FHA Streamline Refinance

Don’t Make These Mistakes When Buying A Home!

When you have an offer accepted to buy a home, it's extremely important to avoid these mistakes that could sabotage your transaction.

Understanding Your Appraisal

Should I Buy Or Rent?

Get preapproved before shopping for a home

VA Streamline Refinance

VA Home Loans

Home Purchase Waiting Periods After A Credit Event

Prosperity Express – A Faster, Simpler Way To Qualify For A Mortgage

Understanding Your Credit Score

A Strategy To Win In This Multiple Offer Market – The Appraisal Gap Strategy

In this multiple offer market, we are all trying to offer solutions to help our clients win! This Appraisal Gap Strategy will help homebuyers be educated, confident and ready to make an aggressive offer and win! Click on the video above and learn how this Appraisal Gap Strategy works!

What Do You Do When The Appraisal Comes In Low?

In a competitive real estate market, the offer price accepted sometimes is higher than the appraised value that comes back after the offer is accepted. How do you deal with that? Click on the video above to learn about some options.

Does A 15 Year Mortgage Or 30 Year Mortgage Make More Sense?

What are the positives and negatives of a 15 year mortgage and 30 year mortgage? Click on the above video to see an analysis that walks you through the benefits of each.

The Cost Of Waiting For Prices To Come Down

Does it make sense to wait for prices to come down before buying? In this video you will learn about several different scenarios to consider that are affected by changes in property values and interest rates. Click on the video above to see the scenarios that you should think about.

How To Safely Purchase A Rental Property Using The Equity In Your Home

Many homeowners are sitting on equity that is not generating any return. Why not put that equity to work to increase both your cash flow and net worth? In this presentation I show how someone can take cash out of their primary residence without increasing their monthly payment and paying cash for a rental property. The result for these homeowners? They can increase their net worth by increasing their real estate ownership, and increase their monthly cash flow through ownership of a rental property that has no loan on it.

Reviews

"Philip always made himself available whenever I had a question. We never had anything unexpected pop up. He was always very clear in what was coming up and what time lines we would hit. Would definitely reccomend to friends and family"

michael a

"Phil is always available to answer questions and follow up. He would check in on me to make sure I didn't have any questions or if the interest rate on my pre qual changed he would let me know as it took a little time for me to find my house. He is very easy to work with and wants the best for his clients! Thanks Phil"

catherine r

"every thing are good"

alan h