million dollar presentation - realtors - benchmark idaho

Prepared for

The Lysi BishopReal Estate Team

Ark-La-Tex Financial Services, LLC d/b/a Benchmark Mortgage 5160 Tennyson Pkwy STE 2000W, Plano, TX 75024. NMLS ID #2143 (www.benchmark.us) 972-398-7676. This advertisement is for general information purposes only. Some products may not be available in all licensed locations. Information, rates, and pricing are subject to change without prior notice at the sole discretion of Ark-La-Tex Financial Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions may apply. Idaho Mortgage Broker & Lender #MBL – 4060

http://www.benchmark.us/

Mission

Vision

Values

What’s our Why?Saving the World One Mortgage At a Time

We believe the right or wrong mortgage can change a person’s future and our advice must be educated, ethical and personalized. We strive to help our clients save money; maximize their wealth; and sleep easier at night.

We believe that we should positively impact our clients, industry partners and team members because our every action and our every word creates a ripple effect that expands out into our homes, our community and the world.

We believe we have the power to positively impact every life we touch. We believe we can make the world a better place… one mortgage at a time.

7 R I D I C U L O U S L Y G O O D REASONS

TO WORK WITH

DEAN & SHANNA TUCKER

BENCHMARK MORTGAGE

Who is Benchmark Mortgage?

Reason #7: Banker & Broker• Fannie Mae Direct Lender (flexible underwriting)• Ginnie Mae Direct Lender pending (audits complete)• Loan Servicer (convenient for clients)• Correspondent & Broker (to serve unique needs)

Benchmark Mortgage #13

2013 Statistics• $1.627 Billion• 7,903 Loans• 80% Purchase Business

Benchmark Mortgage #51

http://mortgageexecutivemagazine.com/50BestCompanies_2014/#?page=38

http://mortgageexecutivemagazine.com/Top100_2014

Reason #6: Weekly Loan Status Updates

Ridiculously Good Reasons to Work with Dean & Shanna Tucker at Benchmark Mortgage.

Reason #6: Pro-Active Communication about Major Milestones

In addition to Weekly Summary Updates, clients and realtors are kept informed about major milestones during the transaction:

• Intro to Both Agents• Congratulations on contract (& What to expect during loan)• Appraisal Ordered• Appraisal Received• Underwriting Submitted• Underwriting Decision & Needs List (client only)• Clear To Close• Closing Instructions• Congratulations on Funding• Post closing follow up

• Homeowner’s exemption• First payment coupon• Bi-Annual mortgage savings review

Reason #5: On Time (or early) Closings

Historically we close on time or early. • Average days clear-to-close before contract deadline = 4.42 Days • Clear-to-Close to Docs at Title = 2.1 Hours (2013 average)• Average time in processing (from contract received to docs) = 24

calendar days

Transactions for Your Team in the last 12 months = Clear to Close 4.25 days early

Transaction Contract Closing Date Clear to Close Days to Docs1216 E Washington Street 06/28/13 06/25/13 21 days1390 W Hill Road 06/20/14 06/16/14 18 days7027 W Saxton Drive 06/20/14 06/17/14 15 days1115 N 15th Street 07/25/14 07/18/14 10 days1619 N 6th Street 08/22/14 Pending Pending

Average time from Contract to Clear-To-close on your transactions = 16 business day days


Reason #4: Local Underwriting & Reliable Pre-Approvals

• Common Sense, “how do we make it work” approach

• Reliable Pre-Approvals - Friendly, Knowledgeable & Accessible to Loan Officers

• Job Descriptions includes helping sales team succeed

• Average underwriting turn times = 2.1 days (Q2 2013)


Reason #3: Appraisal PanelQuality Control Screened based on their ability to do a good job in some of Boise’s most challenging neighborhoods:• The North End• The East End• The Foothills• The Bench• Custom High End Homes

Statistically, our in-house Boise appraisals have come in

$3,215 over purchase price in the last 18 months.

Transactions for Your Team in the last 12 months = $4,300 average over purchase price:

1115 N 18th St Price: $365,000 Appraisal: $368,000 (+$3000)1216 E Washington St Price: $387,500 Appraisal: $395,000 (+$7500)1390 W Hill Rd Price: $370,000 Appraisal: $373,000 (+$3000)7027 W Saxton Dr Price: $140,000 Appraisal: $145,000 (+$5000)1619 N 6th Street Price: $487,000 Appraisal: $490,000 (+$3000)



Reason #2: Location, Location, Location

• We personally know and understand downtown real estate

• We live and own investment properties near downtown.

• Class A Office space at St. Mary’s Crossing (27th & State)

• Convenient for clients living and working downtown.


Reason #1: Client & Partner Education

Three Main Educational Goals

1. How to Save Money• 6 ways to save money on their mortgage• Financially savvy clients love this.

2. Remove confusion, stress and uncertainty• A confused mind doesn’t buy… causes people

to sit on the fence.• Super comfortable with their mortgage• Excited about buying immediately

3. Become YOUR Raving Fan• Grateful to you for referring us.• Excited to refer you.

2013 Affiliate of the YearAda County Association of Realtors

“What’s your interest rate?”There are 6 major ways we help them save money…

interest rate is only one of them.

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=QglAIDujz6H3KM&tbnid=t9bbBExyT09u7M:&ved=0CAUQjRw&url=http://news.redmantech.ca/2012/02/dear-home-seller-do-you-know-what-i-do/&ei=R0e_U_fBLYSLjALuw4CIBA&bvm=bv.70810081,d.cGE&psig=AFQjCNEZ1rImv4LJxs47GNipkCGX0gnzKw&ust=1405130934872444

Securing the Lowest Rate & Lowest Payment: How and why rates move to help you understand how to increase your odds of getting the best one by making an educated decision as to when you should lock.

Debt & Asset Review: To help you make the right decision about down payment to save you money and protect your home investment.

Integrated Mortgage Strategy: Selecting the proper mortgage strategy that integrates into your overall financial plan.

Benchmark Mortgage | Ark-La-Tex Financial Services, LLC NMLS #2143 – Idaho Broker & Lender MLO #4060

https://morethanaminute.com/wp-content/uploads/2011/02/strategy.jpg

30 Criteria for Quoting Interest RatesRisk Based Pricing: Loan Level Price Adjustments (LLPAs)

1. Credit Score2. Down Payment / Equity Position3. Loan Amount (small or big)4. Loan Type (Conv, FHA, RD, VA)5. Loan Term (30 years, 15 Years, ARMs)6. Amortization (Fixed vs. ARM)7. Loan Purpose (Purchase vs. Refinance)8. Cash Out Amount (refi)9. Loan-To-Value 10. Combined Loan-To-Value11. Property City, County, or State12. Property Type (SFR, Condo, Manufactured)13. Number of Units (1-4)14. Occupancy (Primary, Second, Investment)15. Credit History

16. Asset Verification

17. Relocation18. Concessions or Seller Contributions19. Employment Status 20. Co-Borrower (Occupying or Non-Occupying)21. Underwriting System (AUS, DU, LP, GUS)22. Debt Tolerance Ratio23. Reserves24. Gift Funds and/or source of down payment25. Employment Documentation26. Citizenship27. Mortgage Insurance (monthly, annual)28. Escrow account included or not29. Lock Period (7, 15, 30, 45, 60, 90)30. Bank appetite for new business


What Causes Mortgage Rates to Fluctuate?The Buying and Selling of Mortgage Backed Securities (The Mortgage Bond Market)

The Economy(Employment, Stock Market

Bond Market, etc.)

Politics(War, World Tensions,

World trade)

Investors Appetite(purchasing mortgage backed securities)

The Federal Government(purchasing mortgage backed securities)


Mortgage Backed Securities Movement2 Year Movement (Feb 4, 2014)

Summer 2013Fall 2013Rapid changes to Interest Rates

Source: www.MBSHighway.com Benchmark Mortgage | Ark-La-Tex Financial Services, LLC NMLS #2143 – Idaho Broker & Lender MLO #4060

Mortgage Backed Securities Movement3 Month Movement (Feb 4, 2014)

Red “candlesticks” are days where yields decreased and rates worsed (got higher) by day end.

Green “candlesticks” are days where yields increased and rates improved (got lower) by day end.


Economic CalendarUpcoming Economic Events that Impact the Mortgage Bond Market


Rate Points / $ Payment

4.25% 1% ($4,000) $1,968

4.375% 0% ($4,000) $1,997

1% Fee Costs = $4,000 Savings = $29/moExample Only . Actual rates and points vary from day to day.

POINTS… Lower Rate or Lower Closing Costs?

Does it make sense to pay $4,000 today to save $29/month? It would take 11.5 years to get your money back.


According to Freddie Mac, the average life of a loan is just over 4 YEARS.

MORTGAGE INSURANCE…Lowest Rate verses Lowest Payment


What is mortgage insurance (MI)?• It is NOT fire insurance or life/death insurance.• It insures the lender in case you default on the loan. • It allows you to purchase a home with less than 20% down (or with certain credit challenges).

How is it calculated?• Some loans have upfront mortgage insurance. • Some loans have monthly mortgage insurance.• Some loans have BOTH.

Conv without MI @ 5.25% (APR 6.281%)

P&I $1,339 Taxes $ 255 Ins $ 40 MI $ 0 Total $1,634/month

3% Down = $7,500

FHA with MI @ 4.25% Rate (APR 6.518%)

P&I $1,208 Taxes $ 255 Ins $ 40 MI $ 255 Total $1,758/month

3.5% Down = $8,750

Example: $250,000 Purchase Price

What Makes Up Your FICO Credit Score

Top Tips from Credit Experts:

1. Pay on time2. Don’t max yourself out

30% of available of credit50% of available of credit

3. Create a long history (don’t close old accounts)

4. Manage types of credit used.5. Apply and open new accounts with

discretion6. Monitor and dispute inaccuracies

Sources: Myfico.com & LindaFerrari.com

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=PB4SOhEIxMf66M&tbnid=qNWHHRTh_wrFIM:&ved=0CAUQjRw&url=http://tenantreports.com/tenant-screening-sample-credit-report&ei=zlfxUrboOILioASm2oLIBg&bvm=bv.60799247,d.cGU&psig=AFQjCNGyP736lfGz5wVZ83kqFC3iptuIzA&ust=1391634583255390

Down Payment AnalysisDebt & Asset Review

Is it time to payoff or pay down low interest or tax deductible loans for retirement? • Large down payment?• Short Term mortgages?

• What happens if you need to refinance later? Will your income change? Will you be able to qualify?

# 4: Retirement / Preferred Debt

# 1: Emergency Funds

Do you have 3 to 6 months expenses in emergency reserves? Could you live without income for 90 days?Helps avoid getting knocked off your feet in the event of common unexpected expenses.• Checking: $___________________• Savings: $___________________• Money Market: $___________________• Mattress Money: $___________________

Do you have high cost or non-tax deductible debt that should be paid off before your mortgage?Will paying off high interest rate debt save you more than putting down a large down payment?• Credit cards:$_____________________• Credit cards:$_____________________• Finance accounts:

$_____________________

# 2: Non Preferred Debt

Do you have a year’s worth income in savings? Having significant liquidity helps you avoid getting knocked off your feet in the event of catastrophic events or expenses.• 401K: $____________________• IRA: $____________________• Stocks: $____________________• Other: $____________________

# 3: Significant Liquidity


http://koehlerlaw.net/wp-content/uploads/2010/11/credit-card-pile1.jpg

ConventionalFannie Mae & Freddie Mac

$417,000Max Loan in Idaho

1 Unit SFR

FHAHUD Loans

$271,050Max Loan 1 Unit SFR

Ada County

Non-Conforming & Portfolio

Construction LoansPrivate MoneyEquity Lenders

JumboSuper Jumbo

Idaho HousingBond Program

Loan Options


VAVeteran’s

Administration

$417,000Max Loan in Idaho

(if Zero Down) 1 Unit SFR

USDARural

Development

Income and Location Limits

No Max Loan

Fixed Rate or ARM or Hybrid?

Large or Small Down Payment?

30 Year? 20 Year? 15 Year?

Mortgage Insurance Costs?

Step

1. Review Documents Needed________________________________________________________________________________________________________________________________________________________________________________________________

2. Name RatingRealtor _______________________ _______

Insurance _______________________ _______

Life Ins _______________________ _______

Tax/CPA _______________________ _______

Fin Advisor _______________________ _______

Attorney _______________________ _______

Buying a home is like taking an airline flight across the country.

When you start on your trip, you have no idea how the trip will go. Neither does the pilot. You could run into turbulence, or other passengers on the trip could behave badly.

As your Personal Mortgage Banker, I am like the pilot of your plane.

I can’t promise you no turbulence, or that other parties to the transaction won’t behave badly, but I can promise you that I’ll utilize my experience and expertise to take you on the smoothest flight that I can… and if we do hit turbulence, I won’t bail out on you. I want to see you safely arrive home.

by Step


Helping home… your wayyou navigate

STEP 1: PLAN YOUR TRIP: GET EDUCATEDYour Loan Officer will help you make educated decision about locking the interest rate; choosing your down payment; deciding on a loan program; and side-stepping challenges during the sometimes turbulent mortgage loan process.

STEP 2: BOOK YOUR FLIGHT: GET PRE-APPROVEDYour Pre-Approval Specialist will review your employment, income, assets, & credit to help you get pre-approved so that you can make an offer on a home.

STEP 3: BOARD THE PLANE: FIND YOUR DREAM HOUSEYour Realtor will help you find a house; negotiate price and terms, and help you coordinate any home inspections that you negotiate in your purchase contract.

STEP 4: SAFETY INSTRUCTIONS: LOAN DISCLOSURESEverything comes to a halt until you sign loan disclosures required by the Federal Government to make sure you’re well informed.

STEP 5: FASTEN YOUR SEATBELT: LOAN PROCESSINGYour Loan Processor will embark on the daunting task set forth by the Federal Government of verifying everything in your loan application with third parties. This includes your income, employment, assets, credit, tax returns, & social security number. Simultaneously we have to verify that the property is also acceptable by verifying flood zone and tax information as well as obtaining an appraisal, title insurance, home owner’s insurance.

STEP 6: TAKE OFF: LOAN UNDERWRITINGThe Underwriter will review your loan file, the property and the verifications provided by the loan processor to make sure your loan meets the guidelines set by the Federal Government. Additional documentation may be requested to comply with guidelines.

STEP 7: AVOID TURBULANCE: MAKE THE UNDERWRITER HAPPYIf the underwriter finds any areas not compliant with the Federal guidelines, you will work with the Loan processor to clear these conditions for final loan approval.

STEP 8: STAY ON COURSE: MAKE THE GOVERNMENT HAPPY Federal Guidelines require that we re-verify your employment & credit prior to closing.

STEP 9: PREPARE FOR LANDING: ATTORNEY DOC PREPAn attorney’s office will prepare the legal loan contracts and closing documents as per the Federal Government’s and Lender’s guidelines.

STEP 10: LANDING: CLOSINGThe Escrow Company will operate as a neutral third party in assisting both the buyers and sellers in signing closing documents, exchanging money & title.

STEP 11: YOU’RE HOME & THE FUN BEGINSIt’s time to do the happy dance and throw a party!

Dean & Shanna TuckerNMLS License #103829 & #63357www.Tucker.Benchmark.usPhone: 208.388.0500Fax: 208.388.0501


New Federal Regulations Require In-Depth Verification AND Re-Verification Prior to Closing

Credit and Debt Turbulence

• New Debt - Don’t do it!• Student Loans (even deferred)• Same as Cash (furniture, etc.)• Credit Card Balances• We look at “Inquiries”

• Child Support – Tell us about it.• Child Care – Tell us about it (VA only)• Don’t forget to disclose debt not

reporting on your credit report (especially outstanding judgments, tax liens or debt owed to the gov’t).

Income & Employment Turbulence

• Employment - Don’t change it.• Position – Don’t change jobs (even

with the same employer)• Pay structure – Don’t change it.

• Commission• O/T• Bonus• 1099 vs W2

• Hours worked – don’t change them.• Tax Returns – Don’t delay providing.

• Self employed • Unreimbursed expenses• Home businesses• Hobby farms

• Don’t forget to ask about Tax Returns during tax season

Assets & Bank Statement Turbulence

• Deposits - Don’t make undocumented deposits!

• Borrowed money• Gift funds• Credit card cash advances• Sale of Personal Property. • Cash saved at home.

• Overdrafts: Don’t let them happen.• Changing Banks or transferring

money around: Don’t do it.• Don’t forget we need real bank &

asset statements (all pages)• EARNEST MONEY & APPRAISAL

payments must be documented with a cancelled check & bank statements from acceptable acct.

Property Turbulence

• Renovations: Don’t start before closing• Utilities: Must be on when the inspector

and appraiser visit

If you are not sure about something, please ask… we are here to help avoid turbulence.

Most Common Turbulence After Pre-Approval(What NOT to do during the mortgage process)


Thoughts on Today’s Housing MarketCost verses price and other considerations

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=CKdPZi7BHfZ19M&tbnid=LIDiU1pjUmnH2M:&ved=0CAUQjRw&url=http://www.sellnhouses.com/market-stats/newton-market-data-december-2011/&ei=IQ48U4CqFuXwyAGiuYDoBA&psig=AFQjCNFSA2kfmv5U17B-E7_PhDkj-4RY7Q&ust=1396530996297186

3.6%

7.9%

4.2%5.1%

Average Annual APPRECIATION

-5.9%

Pre-BUBBLE BUBBLE RECOVERYTO DATE

PROJECTEDNOW to 2018

BUST

Source: www.KeepingCurrentMatters.com, Home Price Expectation Survey 2013 4Q https://www.pulsenomics.com/Q4_2013_HPE_Survey.php

Home Prices Next YearIn the recent Home Price Expectation Survey, over 100 leading housing analysts called for an approximate 5% increase in home values over the next twelve months.


ARE YOU A BULL OR A BEAR?5 Year Cumulative House Appreciation Predictions through 2018

23.7%4.74% per year

40.1%8% per year

28%5.6% per year

16.8%3.36% per year

Pre-BubbleTrend Bulls

All Projections Bears


Mortgage Rate Projections

Analyst Projected Rate 2015 3Q

Freddie Mac 4.8%

Mortgage Bankers Assoc 5.1%

National Assoc of Realtors 5.3%

http://www.mortgagebankers.org/files/Bulletin/InternalResource/84813_.pdfhttp://www.freddiemac.com/news/finance/docs/Jun_2013_public_outlook.pdf

http://www.realtor.org/sites/default/files/reports/2013/embargoes/phs-6-27-hgbfjnv/july-2013-outlook-2013-6-27.pdfhttp://www.fanniemae.com/resources/file/research/emma/pdf/Housing_Forecast_061313.pdf

Buyer’s Purchasing PowerMortgage Interest Rate Payment (P&I)

Today $200,000 4.25% $983.88

Next Year? $210,000 5.25% $1,159.63

Difference $175.75

APR

4.438%

5.449%

Monthly Annual 30 Years $176 $2,109 $63,269


Today $300,000 4.25% $1,475.82

Next Year? $315,000 5.25% $1,739.44

Difference $263.62

APR

4.438%

5.449%



Today $400,000 4.25% $2,026.74

Next Year? $420,000 5.25% $2,384.71

Difference $357.97

APR

4.438%

5.449%


The Top 7 Ridiculously Good Reasons to Work with Dean & Shanna Tucker at Benchmark Mortgage.

1. Power of a mortgage banker & the flexibility of a mortgage broker… serving diverse clientele

2. Location… we cater to downtown residents & clients3. Appraisal Panel… specializing in downtown areas4. Reliable Pre-Approvals… local underwriter5. Timely Closings… historically on time or early6. Loan Status Updates… proactive communication7. Education… 6 ways to save money on your mortgage

Let’s Connect!Dean & Shanna Tucker Facebook:208.388.0500 | Office www.Facebook.com/HomeLoanBoise208.388.0501 | Fax www.Facebook.com/ShannaWrotenTucker

Email: [email protected] LinkedInEmail: [email protected] www.LinkedIn.com/IdahoMortgage

www.LinkedIn.com/ShannaTuckerBenchmark Mortgage2535 W State Street TwitterBoise, ID 83702 @IdahoMortgage

@ShannaTuckerApply Online: www.Tucker.Benchmark.us

Ark-La-Tex Financial Services, LLC d/b/a Benchmark Mortgage 5160 Tennyson Pkwy STE 2000W, Plano, TX 75024. NMLS ID #2143 (www.benchmark.us) 972-398-7676. This advertisement is for general information purposes only. Some products may not be available in all licensed locations. Information, rates, and pricing are subject to change without prior notice at the sole discretion of Ark-La-Tex Financial Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions may apply. Idaho Mortgage Broker & Lender #MBL – 4060

http://www.benchmark.us/

million dollar presentation - realtors - benchmark idaho

Documents

close days

wrong mortgage

mortgage excited

average days clear

llc dba benchmark mortgage

dean shanna tucker

good reasons

loan appraisal