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Jon - Trident Home Loans

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Jon - Trident Home Loans last won the day on August 24

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About Jon - Trident Home Loans

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    http://www.tridenthomeloans.com
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    Gulf Breeze, FL

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  1. Give me a call Duck, but if he still has the $375K loan counting against his entitlement he's going to have to put money down. Also with the income we'd need to look at DTI because he hasn't been a landlord before and doesn't have a tax return filed yet showing rental income so that could be an issue. Not really a simple answer I can give without looking at all the numbers. Cheers! Jon 850-377-1114
  2. Sorry haven't seen a calculator with the new funding fees built in yet but here is a table that breaks them down for loans closing after 1 Jan 20. There won't be a loan limit for zero down loans if you have all your VA entitlement remaining (either never used it before or have had it restored). If you still have some of you entitlement tied up then there will still be limits and/or down payment required. Let us know if you need help figuring out the numbers based on your specific situation.
  3. Yes and no. As your lender the VA gives them the option to allow escrow waivers or not. It is not a government rule like you were told anymore...it used to be but it changed sometime around this time last year (don't remember the exact date). Most lenders aren't allowing veterans to take advantage of the change. The reason we do is the servicer we use keeps the servicing rights for the life (or at least that's their intent) of the loan so they can ensure your taxes/insurance are up to date to stay in compliance with the new VA rules. Most servicing rights get sold multiple times which is why lenders aren't allowing the escrow waivers because of the added risk. Depending on what rate you have you could refi, save some money, and remove the escrows if you want. Let me know if you want to take a look at that option. Jon 850-377-1114 jk@mythl.com
  4. That’s actually not true, we waive escrows for VAs all the time for free as long as you put 5% down. The VA used to require escrow accounts but they now leave it up to the lender. Most lenders either don’t know this or just don’t want to be more flexible with their borrowers. I’ve actually had other lenders tell our clients while they are shopping around that we are lying and it can’t be done. Other lenders just don’t know the rules like we do or if they do they choose to not put their clients first by taking a little added risk. We’re all about helping you keep as much money in your pocket as we can. We mitigate our risk by working with only the best clients like y’all. Here are the references. Cheers! Jon 850-377-1114 jk@mythl.com VA Lender Handbook: “VA does not require the lender to establish escrow accounts for the collection and payment of property taxes, hazard insurance premiums, and similar items. It is the lender’s responsibility to ensure that property taxes and hazard insurance premiums are paid timely.” -Pg 9-25 https://benefits.va.gov/WARMS/docs/admin26/m26-07/Ch_9_Legal_Instruments_Liens_Escrows_Related_Issues.doc
  5. Not sure who this is or what the issue is but feel free to give me a call anytime. We are busy because of our great rates/service but not overwhelmed. I'm always available to answer any questions. We shoot to close our refi's towards the end of the month to save you on prepaid interest/closing costs and maximize your savings. IRRRLs are mostly hands off loans so not much for you to do except save money. I always have my cell but haven't got any calls regarding this. Sorry...I'm standing by for you call. Cheers! Jon Cell: 850-377-1114 jk@mythl.com
  6. Thanks Steven! Glad we could get you a great deal and save your growing family some money! It's always a pleasure to work with you! If any of you guys are looking for a great realtor in the DC area definitely get in touch with Steven! He's a solid guy that I've worked with a few times now, father of 3 kiddos, former B-1 WSO and a AF reservist in DC. He's on the #1 realtor team (Keri Shull) in the DC area so you're getting great service and working with professionals. They also match or beat the realtor credits/incentives that USAA used to offer (they just ended it) and Navy Fed still does (for now at least). Hit me up if you want his personal contact info or I'm sure you can PM him on here. Cheers! Jon jk@mythl.com Cell: 850-377-1114
  7. Thank you! Always enjoy helping a fellow Southwest guy save some money! Even better with a lender credit to pay for everything without you having to come out of pocket or roll anything in. I'll pass along the compliment to my processors. If anyone else wants to look at numbers just email: Property address (let me know if it's your current home or a rental property) Type of loan on it (VA, Conventional, FHA, etc) For VAs - if you have VA disability or not Current rate Amount currently owed Estimated credit score Cheers! Jon 850-377-1114 jk@mythl.com
  8. Thank you, Sir! It was definitely a pleasure to work with you! Helping good people save a ton of money is the best part of this job. I have 4 kiddos so your Dad compliment definitely means a lot. Enjoy the upcoming wedding and please let me know if you need anything in the future. Have a great weekend! Jon
  9. Just depends...you have to go down by .5% at a min to do an IRRRL. If it's a cheap refi state we've done 3.25% no cost IRRRLs so you don't have a break even and you just save money. If it's a more expensive state or you're paying the cost then I'd run a break even analysis off the costs and saving then compare it to how long you're planning on staying in the house to see if it makes sense. If you're PCSing or selling in the not too distant future typically only the no cost IRRRLs make sense. Best thing is just to do an app on our website or call me so I can run the numbers and see if it makes sense. If we have an app in and I have talked to you then I can also hold it and watch the market for you then auto lock when we hit the right numbers. You're never committed to anything on a refi until 3 days after you close so there isn't any downside by locking or exploring your options. If rates drop then we just cancel the first lock and set you up with a new lock so the first lock is just a hedge. Jon 850-377-1114 jk@mythl.com
  10. That's a great question that I've been getting a lot over the last couple days. This article explains it best but the bottom line is the fed controls short term lending not long term lending and mortgages follow the trend of the 10yr treasury bond. The bond bottomed out a couple weeks ago when we hit a low of 2.875% on 30yr VAs and rates are back to 3.25%ish but it's always fluctuating everyday. The bond was as low as 1.43% but its back to 1.77% which is a significant short term rise and thus the mortgage rate rise. The bond drops when investors moving out of the stock market and into bonds for security during the "sky is falling" events. The increase demand for bonds results in the bond paying lower yields thus mortgage rates paying less to investors in mortgage based securities (MBS). MBS are where every normal loan ends up that is originated in the country regardless of who the lender is. http://www.mortgagenewsdaily.com/consumer_rates/922003.aspx Hope that helps! Jon
  11. Thanks man minus the MC-130 insult...don't lump us gunship guys in with them;) I definitely enjoyed working with you too and am happy we were able to get your family into a great place with a great deal. Let me know if you need anything in the future. Cheers! Jon 850-377-1114 jk@mythl.com
  12. Lots of variables that go into rates but in general you're looking at 3.125-3.25% on 30yrs VAs with a 45 day lock and no points on a non-jumbo. Rates have been moving back up with the 10yr treasury bond off the bottom we hit at 2.875% a couple weeks ago. These are Trident pricing not the national average. Also know that the mortgage market is constantly changing on Wall Street so this post could be completely irrelevant tomorrow. Best thing is just to call me to get a real time quote. Hope that helps get you in the ball park though. Jon 850-377-1114 jk@mythl.com
  13. Sure are and rates are great right now. Give me a ring whenever you have a few minutes. Jon 850-377-1114 jk@mythl.com
  14. lol, thanks man! You're welcome and thanks for the repeat business. No catches ever. We do our best by everyone and we get the "it seems to good to be true" all the time. We treat everyone like we'd want to be treated which is the Trident difference in business today. We want a life time relationship with every client. Everyone will PCS multiple times, go to the airlines, or change houses at some point and will need a lender again. We want to be your first call every time. Cheers! Jon
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