If you have questions about FHA Loans, please post your questions here:
Below are some questions that might apply:
Many people have lots of questions about getting a new FHA loan or doing an FHA Streamline Refinance. Some of the answers may surprise you. Please post your questions below as I will answer each one individually.
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Gary DiGrazia, Harold Deblander and Regina Maceira which is the "Gary D Team" with RE/MAX in Motion and Julie Chroust with Prospect Mortgage have combined forces in a newly formed strategic relationship with a licensed real estate company, Home Buyers Marketing II, Inc. (HBM II). HBM II provides area homebuyers with an innovative and FREE home finding service called the Home Buyers Scouting Report®. The Home Buyers Scouting Report® matches your personal home search criteria with properties that are currently listed for sale and in your price range. Online...available 24 hours a day! At your convenience, login to HBM II’s private, password-protected website to view the listings that meet your home search criteria with pictures, prices, addresses, directions, maps and more!* You can specify a particular school, lot size, almost any amenity you want and get just those listings that are in your price range. While online, you can save your favorite properties to a notebook for easy reference and to receive updated information on those properties. Can’t find your favorite? You can change your personal search criteria to include additional neighborhoods and home styles. If you are interested in a specific property you have driven by, simply type in the address and view information about that property. With the Home Buyers Scouting Report® you can receive daily updates on new listings as they become available! Be the first buyer to see a new property. Many busy homebuyers have heard about a great property only to find that it had already been sold. There is no obligation. Using the Home Buyers Scouting Report® will allow you to get a real sense of the current housing market in the privacy of your own home. Whether you are looking to buy a new home soon or just thinking about new home possibilities, we believe this is the best home finding service available and as a preferred customer, we would like you to know about it. For more information about receiving this FREE home finding service, Click the link below to get access yourself!
We look forwar to hearing from you. Gary DiGrazia - Gary D Team and Julie Chroust |
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*In some markets not all of the listings are available because of local rules and regulations. Address, mapping & other property information restrictions apply in some markets.
The Real Estate Agent and Home Buyers Marketing II, Inc. (HBM II) are cooperating licensed real estate professionals. The Real Estate Agent is neither an agent nor a broker for HBM II, but works cooperatively with HBM II to assist in your home scouting efforts.
The Preferred Loan Officer’s role is to assist in determining a comfortable monthly payment and price range for Home Buyers Marketing II, Inc. (HBM II) to use when it is searching for properties within your search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Buyers Scouting Report® (HBSR).
The Home Buyers Scouting Report® (HBSR) is a free home finding service of Home Buyers Marketing II, Inc. (HBM II) a licensed real estate company. HBM II provides the Report directly to homebuyers through a secure, password-protected online service.
© Copyright 2003, Home Buyers Marketing II, Inc.
Buying or Selling a Home?
Use the #1 Nationwide Home-Finding Service – It's FREE!
With more than six million listings nationwide, Home Buyers Marketing II, Inc. (HBM II) provides the Home Buyers Scouting Report® (HBSR), a FREE home-finding service for buyers and sellers, and the No. 1 online home-shopping tool on the planet! With HBSR you’ll receive:
HBM II also provides the Sold Home Alert™, which offers information on recently sold homes in your neighborhood to keep you informed of local property values and time on market.
To get access click below:
Last Week in the News
Existing home sales rose 7.2% in July to a seasonally adjusted annual rate of 5.24 million units from a revised level of 4.89 million units in June. July marks the fourth consecutive monthly increase in existing home sales and it was the largest monthly gain since recordkeeping began.
The National Association of Home Builders / Wells Fargo housing market index rose one point in August to 18. It was the highest level since June 2008. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in July decreased 1% to a seasonally adjusted annual rate of 581,000 units. This follows a 6.5% increase in June. However, construction of new single-family homes rose 1.7% in July to a seasonally adjusted annual rate of 490,000 units.
The producer price index, which tracks wholesale prices, fell 0.9% in July, following a 1.8% increase in June. Compared with a year earlier, wholesale prices were down 6.8%, the most since a 5.3% decrease in August 1949.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending August 14 rose 5.6% to 527. Purchase volume rose 3.9% to 277.7. Refinancing applications increased 6.9% to 1,982.5. The refinance share of mortgage activity increased to 53.3% of total applications from 52.3% the previous week.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.6% in July after a revised 0.8% gain in June. It was the fourth straight monthly increase and an indication the recession might be nearing an end.
Initial claims for unemployment benefits rose by 15,000 to 576,000 in the week ending August 15. The figure was higher than the 550,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending August 8 fell by 2,000 to 6.24 million.
Upcoming on the economic calendar are reports on consumer confidence on August 25, and durable goods orders and new home sales on August 26.
Why a buyer needs to get "DU" (Desktop Underwriting) Approved rather than just pre-approved. There is a big difference between the two:
Without good preparation, many buyers think that if a lender pre-qualifies or pre-approves them for a mortgage its a done deal for them to obtain a home loan. Unfortunately, there's a world of difference between these two terms. If you've ever been confused by the two, we'll bring you up to speed on how these terms differ - and why a misunderstanding can mean disaster for borrowers.
From this point, the lender can tell you the mortgage amount for which you are pre-approved. You'll also have a better idea of the interest rate you will be charged on the loan. With pre-approval, you will receive a pre-approval letter with a specific max purchase price allowing you to look for a home at or below that price level.
DU (Desktop Underwriter) as well as Loan Prospector are two computer applications that are used when analyzing your loan application and credit. Basically, all of your financial, personal and work information is fed into DU, and it analyzes it and returns a recommendation as to whether or not your loan meets minimum guidelines.
Although, having a DU approval does not always guarantee for FULL loan approval.... it's always subject to a preliminary title report on the property, appraisal and all information must be verified by a real underwriter. If the information that was fed into the system was incorrect then it could result in a decline.
So buyers... Realtors..... ask your lender for a DU approval! Or better yet, call me, this is standard practice with my team!
Julie Chroust
Senior Mortgage Consultant
Prospect Mortgage
6601 Owens Drive, Suite 155, Pleasanton, CA 94588
Office: 925-516-5809
Cell: 925-381-1481
Fax: 925-516-7555
Email: Julie.Chroust@ProspectMtg.com
Visit my Naymz Profile to Lean About Me
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Join My Email list for updates
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Preferred Lender for Fannie Mae's Homepath REO Loan - lending in all 50 states. We strive to provide the finest experience in the business and to continuously provide the best in mortgage services.
Julie searches the market for all possible financing scenarios, seeking highly competitive financing for the first time home buyer to the multi-million dollar investor. Underwriting, drawing documents and funding "in-house" for escrows that close "on time", every time.
Julie joined Prospect Mortgage, with a commitment and a strong desire to always do what is right for her clients. She is committed to exceeding your expectations during and after your mortgage loan experience. With a wide range of programs, she will ensure that you will always obtain the loan that is just right for you, addressing your specific financial needs while delivering quality service and honesty.
In October of 2002, Julie took her business to a whole new level, she conducts business as a "By-Referral-Only" Mortgage Consultant. What this means is that she invests 100% of her time delivering 1st class service to her clients. As a result, her valued customers, suppliers, and friends refer their family members, co-workers, neighbors and other people they know to her for advice when getting a home loan. She is interested in building strong, life-long relationships one person at a time. Julie has developed an exclusive program, Road to Wealth, in which she has deliberately focused on serving the financial needs of those who want to make the most of owning a home and using their mortgage as a financial tool rather than an obligation. She is insightful and compassionate to the needs of each client.
"In addition to working as a mortgage consultant, I devote energy to my beautiful son- Ridge, my twins- Gage and Marki Lynn and my wonderful husband, Mark as well as continuing my education. I believe a well balanced life is a state of well-being that you can reach that allows you to manage effectively multiple responsibilities in your career, your family, your physical health, and your spirituality".
- Julie
Amelia Vornhagen - "Phenomenal Mortgage Professional"-That's Julie Chroust. Julie not only has the necessary work ethic and industry knowledge that should be required of all mortgage personnel, but she has the integrity and care necessary to guide and help protect her clients and their future investments.
Juanita Mims - Julie has become a friend over the 5 years that I have known her. She helped me with a re-finance that took over 3 years to complete due to some personal problems that I had. She has always been professional and courteous each time that I had questions and concerns. I would highly recommend her services to anyone who needs to purchase a home or re-finance an existing loan.
Donnie Rath - In my experiences in working with Julie, she treats her clients and business partners with honesty, respect, and integrity. Her clients always have good things to say about their experiences in working with her.
Greta Gissel - Julie is the hardest working woman I know. She is extremely knowledgeable, courteous, conscientious and always willing to go the extra mile for a client. She exemplifies what a person would want in a mortgage expert. She is honest, and has incredible integrity. Julie is not only a wonderful person to work with, but she is a strong and incredibly amazing person. I am a better person from knowing her.
Bruce Burrows - Julie displays the highest level of integrity and professionalism; always putting her clients first and researches her industry constantly. And, she's a very nice person.
Austin Butler - I truly think Julie is a very honest and wonderful person. She is also a very hard worker, who is very adaptable at what she does. Any job she takes on she gives it her best.
Sam Mahshi - In this day and age of mortgage financing, it is pertinent to seek honesty and integrity in a loan consultant. She offers a wealth of knowledge and experience in real estate lending. Julie exceeds expectations as a consultant in providing current information and great service overall.
Rose Cortes - Seriously, Julie was amazing, patient and just so supportive during the whole process of refinancing. I can't thank her enough for what she has done for me. She is a wonderful loan officer. Words are just not enough to describe how kind she was and how efficient she was and the service she provided.
Chet Caballero - Julie Chroust is what we need in the real estate & financing business. She is trustworthy, professional & knowledgeable in her field of work.
Casey Minister - Julie made the home-buying experience much less stressful. She was very knowledgeable and always returned our calls and emails very quickly. She is honest, straightforward and she also got us a great loan. Thanks Julie!
Chris Lince - Julie stands out in the mortgage industry as one of the most knowledgeable and honest individuals I know. She keeps herself educated and up to date with all the changes in the mortgage industry. She consistently communicates with all parties in the transaction so no one is ever left out or wondering what is going on. Julie Chroust takes her career very seriously, as this is one of the largest investments people make in their lives. She works long and hard to make sure she delivers all the information properly so her clients can make the best financial decision for themselves.
She is absolutely the best Loan Consultant I know.
Marjorie Birky - I have been fortunate to have worked with Julie for several years. She is one of the hardest working women I know, and I have a tremendous amount of respect for her. Julie is a beautiful person inside and out. Three words to describe her way of doing business, and the only way she knows how, with Integrity, efficiency and honesty.
Zach Chop - She was very helpful and extremely professional. She made the entire loan process understandable and easy. She encouraged questions and her attentiveness to our needs was well known.
Zipporah Andrews - Julie is a true professional in her business. She looks out for what is best for her clients and continually educates herself and her clients. Julie is honest and has strong integrity.
Shiela Davis - Juile is hard working professional in her lline of work, with a lot of knowledge in the Mortgage industry. She is very willing to answer any questions for you or your clients. Even if there is no benefit to herself. She has many years in this feild and I would highly recommend her to any of my friends and family.
Ed Jeffry - I've known Julie for just under a year now and I would endorse her as an honest person of the highest integrity.
Julie Chroust is proud to have served family, friends, and neighbors throughout California for more than 8 years. Julie is firmly rooted in the area and is committed to maintaining the community-oriented culture. Julie takes a personal interest in each of her clients, striving to truly understand their needs and goals, and to exceed their expectations.
With combined real estate and mortgage experience, Julie strives to exceed your expectations, to be worthy of your trust, and to earn your repeat and referral business.
Julie has the advantage of offering a wide range of loan programs to customers: Fannie Mae Loans, Freddie Mac Loans, FHA Loans, FHA Renovation Loans, Veterans’ Administration (VA) Loans. CalPers, CalSters, CalHFA and Fannie Mae's HomePath REO loans.
Julie is a mortgage leader because Prospect Mortgage is a mortgage banker, in addition to being brokers. With Prospect Mortgage, you're working directly with the bank so you'll experience streamlined processes, instant access to the best rates and loan programs, the fastest turnaround time possible, timely communication and warm personalized service.
Julie specializes in First Time Home Buyer Programs such as the Homeownership Program through the California Housing Finance Agency. The mission of Homeownership Program is to provide affordable housing opportunities by offering below market interest rate mortgage programs to very low-to-moderate income first-time homebuyers. There are several unique features and programs offered which may fit the need of the prospective buyer.
DOWN PAYMENT ASSISTANCE LOAN PROGRAMS
Julie is also the leading provider of mortgage services for individuals seeking a residential mortgage, and Prospect Mortgage is an exceptional company for qualified mortgage loan professionals seeking a professional office in which to succeed.
Julie knows what it takes to be a successful leading mortgage banker and broker, and she passionately and consistently does what it takes. In addition to her strong commitment to the communities she serves, she delivers superior service throughout all phases of the mortgage process, creating exceptionally satisfied customers and successful industry professional partners in the process.
Prospect Mortgage lending in all 50 states.
Only Prospect Mortgage customers benefit from
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