Friday, October 2, 2015

Love to Help | Village Bank Mortgage | Jamie Lee Chafin

Love helping people understand the mortgage process ... from start to finish.... it's about education and explanation to get them where they want to be! Are you a Veteran or Active Duty? Getting a V.A. Loan is easy and is probably the best loan out there. Find out why by giving me a call.‪#‎JustCallJamie8971000‬ I would be honored to help those who have served. ‪#‎VALoanSpecialist‬

Tuesday, August 11, 2015

Jamie Lee Chafin Village Bank Mortgage - Do you have collections on your report? Here's something that might surprise you.

Many consumers think that paying off collections will help increase their credit scores. In reality paying off collections will almost always decrease the credit scores because of the negative rating that is attached to most collection items combined with updating the Date of Last Activity makes it appear to the credit scoring algorithm that a new collection has been added to the credit report.

Thanks to my friend Sam Parker for this video. 

Wednesday, July 29, 2015

Village Bank Mortgage - How To Get a Pain Free Mortgage and Close on Time.™

The entire mortgage process is about to change again. With the new T.R.I.D rules coming into play and also many loan programs changing including F.H.A, the likelihood of you closing on time has just gotten worse.
Of course, the good news is that with some guidance you can achieve your desired result. It does take some planning on your part.
If you have decided that  now is your time to buy, my first suggestion is to call to discuss your mortgage options before you choose an agent or think about looking at homes. If done correctly, I can assure you that you will close on time and within your budget with no surprises.
Jamie Lee Chafin - Village Bank Mortgage -
How To Get a Pain Free Mortgage and Close on Time. ™

Thursday, April 16, 2015

Bad Mortgage Behaviors - or, how to keep your loan approved once approved. Village Bank Mortgage


Keeping "good behavior" in mind, here are 8 things you should absolutely not do between your date of application and your date of funding. Any one of them could force a revocation of your mortgage approval.
Ignore these rules at your own peril. 
  1. Don't buy a new car or trade-up to a bigger lease
  2. Don't quit your job to change industries or start a new company
  3. Don't switch from a salaried job to a heavily-commissioned job
  4. Don't transfer large sums of money between bank accounts
  5. Don't forget to pay your bills -- even the ones in dispute
  6. Don't open new credit cards -- even if you're getting 20% off
  7. Don't accept a cash gift without filing the proper "gift" paperwork
  8. Don't make random, undocumented deposits into your bank account
And that's it.
Now, you may find it 100% impractical to have follow these rules to the letter. I know that.
For example, if your car lease is expiring, you have to do what you have to do. Renew the lease. Before doing it, though, check with your loan officer -- spreading your lease over 60 or 72 months may be better for your debt-to-income (DTI) ratio
The same goes for accepting cash gifts from parents
There's a right way and a wrong way to accept a cash gift for a purchase and if you do it the "wrong way", your lender may disallow the gift and deny the loan.
These are just 8 of the behaviors which could sabotage your loan. There are more, of course, and your lender will help you identify them. 
Thanks to Dan Green for some great content.