Jon - Trident Home Loans

We only lend on existing or new construction homes based on how we’re setup but land loans are definitely available through banks/credit unions. Usually 20% down on them. Market definitely continues to get more favorable. Reach out if you’re PCSing this summer or bought with a high rate. Jon

We do both conventionals and VA construction to perm loans. Not a big part of our business but it's something we can do if it helps. Jon

VAs are now in the upper 5s with no discount points or lender fees. Hit me up if you are purchasing soon or want to take a look at a no cost refi. Happy New Year! Jon

Wanted to pass a quick update since we’re entering the winter PCS season and there has been a lot of rapid improvements in the economy recently. Right now VA rates have come down fast out of the mid 7s to the low 6s and will be entering the upper 5s. Reach out if: you’re looking to buy and want to take advantage of our industry leading rates/no lender costs you’re under contract to buy at a 6.5% rate or higher you could still swap to use to get the lower rates and we can get the VA appraisal transferred over to avoid cost/closing delays. you already closed with a rate above 6.5% already and have made a few payments to do our no cost refi program where you don’t finance any extra principle into the loan cause we pay for the third party costs. The federal reserve announced yesterday 3 predicted rate cuts in 2024 but market futures expect 4-5. The fed is also estimating 4 in 2025 and 3 more in 2026 so rates will continue to decline and we can refinance you for free every 7 months without adding any cost or you having a refi breakeven point. Everyone will be refinancing so even if now isn’t the time don’t forget to get on my radar. We’ve done this no cost multiple refi strategy for years and it works out great for both you guys and for us. Our baseops clients helped build our business to a national leading lender over the years so I will always make sure you get treated the best. Happy to chat about anything/anytime (mortgages, real estate, airlines, or Cat E PIRR CAP-USAF jobs). Link to my website and also to our no cost refi program below. Merry Christmas! Jon Cell: 850-377-1114 jk@mythl.com https://tridenthomeloans.com/jonathan-kulak/ No cost streamline refi: https://tridenthomeloans.com/irrrl/

Assumptions are the best deal out there if you have the time and money to cover the gap between their balance and the purchase price. Mortgage servicers don’t staff their assumption departments well because there is not any money in it for them which is why it takes a long time. I know many of my past clients who have done assumptions but the story is always the same…takes way longer than you’d like, lack of communication/updates, and paperwork can be disjointed. It’s worth it in the end but keep your expectation level low going into it. Once you get into underwriting then the pace picks up. If it doesn’t work out we’re always here to help with a new loan and then we’ll do a no cost streamline refi for you next year as rates come down. Good luck! Jon https://tridenthomeloans.com/jonathan-kulak/

Definitely worth a phone discussion since there are a few variables to ensure a seamless closing...850-377-1114. Some general answer that’d help everyone… 1) Conventional conforming loans (not jumbos) with good credit can go up to 50% debt to income. VAs will go higher…I’ve had a 74% before. All lenders use the same automated underwriting systems so unless they have a self imposed restriction then everyone can go above 41% 2) VAs have the lowest rates usually by .5-.75% on 30yr loans. 15s are pretty similar. 3) You can do a simultaneous sale and purchase with both running in parallel and we don’t need to count the current home as long as it sells prior/we can get a copy of the signed closing docs 4) You can potentially qualify for a second VA loan not contingent on the sale of the current property but there are some VA entitlement numbers we need to run. 5) If you’re retiring or separating within 1yr then you need to build a plan because their are a lot of underwriting rules that apply that we can help you circumnavigate 6) Don’t pay off anything you don’t want to until we run automated underwriting because it may not be needed. Worst case we can exclude it and mark it paid at closing to save paperwork/energy on your part. 7) Preapproval apps don’t expire as long as income/assets don’t change. The hard pull credit report is only good for 120 days and needs to be good through closing but that can always be refreshed. A soft pull is an option but automated underwriting can’t be run off a soft pull so if debt to income is tight then a hard pull is the only way for us to determine what will work. Its always good to build a plan and there is no reason not to start sooner than later especially with major life transitions. Happy to chat anytime. Cheers! Jon 850-377-1114 jk@mythl.com https://tridenthomeloans.com/jonathan-kulak/

Thank for taking the time to write the great review and for trusting us again with your big life events! We're always working to keep our customer service level high and our rates low. I think we'll start seeing relief on rates next month after April's inflation data comes out which should start the slow decline of rates eventually back down to the 3.75%ish level that VAs like to sit at. The models predict mid to upper 4s by the end of this year with that continuing in '24-'25. We're already geared up to start doing no cost streamline refi's on VAs where we give a lender credit to wipe out the costs. Feel free to visit our website on the program and reach out if you're interest/want to get on the list. Cheers! Jon No cost VA refi: https://tridenthomeloans.com/irrrl/

This is one of those phone call scenarios because a lot of variables...are you AGR, ART, TR, Full Time, etc? Do you have a civilian job? How we qualify you and what documentation you'd need would depend on where you work, what your status is, where you want to buy, and when. As far as the disability if you're active duty your VA award date is backdated to your separation date so if you close before you separate it's unlikely you'd get the funding fee refund. Only way around that is to get a proposed memorandum of rating issued by the VA but I rarely see those play out. As a reservist, guard, or a vet who hasn't applied you'd definitely want to do an intent to file app. That buys you a year to get your actual app in, but once awarded they'd back date to your intent to file date plus backpay you. As long as you closed on a house after your intent to file date/aka the date they backdate to then you're eligible for the funding fee refund. I tell everyone who has separated/retired to do the intent to file JIC before they close if they don't have disability. Some people don't want to file or plan to but then decide later they do. Doesn't cost anything except a couple mins to do it and can get you/save you a lot of money. On our end you fill out a VA form that says you have applied for disability with the original initial docs we send you then we upload that to the VA. We then follow up with VA prior to closing to see if they have a proposed memo or an award to exempt you. If they don't then you close with the funding fee and once you get your backdated award the VA will automatically process the refund which will go into the account you have setup for direct deposit of your disability check. You can also call the VA regional loan center to initiate the refund process. There is a paragraph and phone number on the bottom of your VA certificate of eligibility explaining the refund stuff. I've seen it work out just fine for folks. Let me know if you want to talk more specifics offline. Jon 850-377-1114 jk@mythl.com

Thanks man! You’ll be in a good spot once you get the class date locked down. I think Trident is one of the few credible lenders out there that can speak/execute AD/reserves/airlines loans very well. There are some small broker shops that do but they don’t lend their own money or do their own underwriting. I always recommend folks transitioning add a mortgage plan to their 1yr out checklist if they plan to move. Once you are inside of 1yr from your separation date no underwriter for any VA, conventional or FHA can use that income because it’s not stable. There are ways to use future income or close you before your separation date is in but you gotta know the rules to work the gray area. I see other lenders preapprove people all the time based on their current AD income because they don’t check anything or are incompetent then it all comes falling apart in underwriting. Helped a guy who’s lender canceled them the day of closing because they did a final employment verification and discovered the separation date. Don’t fall for fancy sales tricks or being told what you want to hear. Always here to help! Jon

Thanks for the compliments from both of you! I enjoyed working with you guys and happy my team could provide such a great rate/service. I'm always here for you and I'll be keeping an eye out for no cost streamline IRRRL opportunities as rates decline! I've been meaning to post a market update on here since we're getting into PCS season. Also with all the crazy airline hiring we're doing a lot of loans for new hires or people upgrading so I'll address those too. Here are the highlights: 1) Mortgage follow the trend of the 10yr treasury bond not the federal reserve rate moves. The bond market as of today is down over 1% since it's high in Oct which means rates are down over 1% as well. The trend will continue through '23 with expectations that VAs will be back to the mid 4 area by the end of the year and then see continued decline back into the mid to upper 3s over the next couple years. Rates are definitely getting better and no cost refi opportunities are around the corner so reach out anytime if you want a sanity check. 2) If you closed Sept-Dec of last year you unfortunately hit the peak rates...reach out to me when you're making your 6th payment and I'll do a no cost VA streamline refi for you (informational flyer attached). No closing costs so no breakeven...then we do it again after you make another 6 payments as rates continue to decline. Anyone 5.5%+ will probably be able to take advantage of this by the end of the year. If you're 6%+ you'll be able to do it sooner. 3) Congratulations to anyone getting CJOs...so much hiring going on. Transition is a tough period when qualifying for a mortgage as is being on first year pay. I recently did a video (below) and had an article published in Aero Crew News (below) on airline pay that you can checkout. Every scenario is a little different so give me a call to chat through it. Pilot Pay Article: https://aerocrewnews.com/education-2/finances/mortgage/know-your-worth-pilot-mortgages-debunked/ Video: Bottom line is there is a lot of good stuff on the horizon and I want to help you however we can. Please feel free to reach out anytime. Cheers! Jon 850-377-1114 jk@mythl.com https://jonathankulak.floify.com/

Thank you so much and you're welcome Jon! Congratulations on your new home! My team definitely makes the magic happen...I'm just the facilitator and chaos coordinator. They are amazing! I'll be keeping my eye out for free streamline refi opportunities as rates continue to decline through '23 into '24. Please let me know if there is anything I can do for you or your friends in the future! Have a great Christmas and New Year! Jon jk@mythl.com 850-377-1114

Good news before 2023 PCS season…Fannie Mae and Freddie Mac raised the normal lending threshold today on conventional loans by almost 79k to $726,200. There are higher limits for expensive counties like those in the DC, CA, CO, UT areas. The VA will certify these new limits soon which means you can borrow more before it becomes a high balance VA loan which keeps your rate lower. It also helps people looking to get a second VA while keeping one they have on another property because VA entitlement is calculated off these numbers too. Basically you’re getting another 79K of VA insurance if you have an outstanding VA loan. No change to entitlement if your entitlement is fully available…you can still go zero down without a loan limit assuming you qualify debt to income ratio wise. Let me know if we can do anything for you or if there are any questions I can answer. Happy Holidays! Jon 850-377-1114 jk@mythl.com

Lots of variables in rates but VAs are closer to 5.0% and conventionals closer to 5.75%. I’d need more details if you want to dial it in. The bond market is near the high for the year right now so hopefully we’ll see another dip like in Jul. Jon 850-377-1114

Thanks for the compliment! I wish I could take credit for the early AM work on the weekend but that was one of my great assistants! I’m definitely fortunate to have a great team supporting me and our great clients like you. Always happy to help! Fingers crossed for you! Jon

Thank you Sir and congratulations on your new home/new chapter in life! I'm glad you were well served by my whole team. Roy, Olivia and Jen are all rock stars! We've made a lot of improvements to take our customer service and our rates to the next level which earned Marty the #1 VA originator ranking in the country for 2021 and I was #8. Constant improvement! I'll keep you on the radar to do an IRRRL for you when the market declines! As everyone knows rates are up as a whole but they are actually down over the short term. Obviously no crystal ball where things will go for the rest of the year but we'll seeing rates similar to the spring of 2019 right now when the bond market was moving up but at a slower pace. The Federal Reserve rate hikes are not directly connected to mortgage rates so don't let the news scare you. Streamline refi's will be a player again probably by the end of 2023 or in 2024. Rates are still well below the 5.5% I got on my first home loan back in 2009 on a VA. The 10yr treasury bond shows the trend of the mortgage market and if you do a 3 month look back you can see a the bond is down .8% since it peaked in Jun. Happy to chat or give you a rate quote over the phone or email. Cheers! Jon 850-377-1114 jk@mythl.com

Obviously no crystal ball but here are a few thoughts: 1) Until demand is less than supply and inflation is under control we’ll continue to see some more home value appreciation 2) The Federal Reserve is trying to kill inflation as quickly as possible which mean higher interest rates on everything to include mortgages over the short term. That being said they gotta get it done in a expedient manner before they trigger a recession 3) While higher interest rates suck it’s only a short term problem because everyone will just refinance in a couple years and the Fed knows that. Lots of people made a lot of money on Wall Street/Real Estate and got some crazy rates thanks to the Fed during COVID. That’s gotta dry up temporarily to get the economy back on track for future gains. I believe everything right now is just a short term rip the bandaid approach to curbing inflation then game on again. As far as mortgages go, I’m sure everyone who is getting a mortgage now won’t be stuck in it for more than a couple years so if you keep a long term perspective you’ll be fine. In the meantime BAH will also adjust to offset the higher costs if you’re still AD. Cheers! Jon

Thanks man and great working with you again! Congrats on the new home and enjoy the new assignment! Thanks for the kind words and congratulations on the new home! I’m glad I was able to help with the negotiations! I’ve definitely seen a lot of success helping folks use their VA benefits in this market by spending some on phone with the agents. A little education and letting them know my experience with VAs has gone a long way. Glad it worked in your case. I definitely always try to help seal the deal for my clients. Let me know if I can do anything to help in the future! Cheers! Jon

Thanks man! Congratulations on your new home and glad we could bring it all together. Your scenario was no issue...see it all the time. Happy for you! Let me know if I can do anything for you in the future. Cheers! Jon 850-377-1114 jk@mythl.com

Can't do a VA on a coop

All good man! I didn't think you were dinging VAs. I'm glad you posted it because it gave me a good opportunity to throw out some nuggets of info that hopefully will help fellow vets. It's all about education in my biz especially as rates rise. Nothing rate wise will beat a VA so I just want people to be armed with the most accurate info out there. No need to pay more in interest than absolutely necessary. Good news is that mortgages are traded on Wall Street just like stocks so while they are up now there will be dips in the future once inflation gets curbed for everyone getting loans now to refi. VAs are even better for that because of the IRRRL (streamline) refi program. I'm 100% positive that I'll be refinancing everyone I'm writing loans for now in the future (just not sure if that's 1 or 3yrs from now). Jon

Lol, thanks Steve! Prob just 10% truth in all your compliments but I appreciate it. I try, care, and answer my phone which usually is the difference maker. We still don’t advertise so must be doing something right. Cheers! Jon

Agree to disagree😀. I think you’re on target that there is a perception about this but factually it’s not accurate. Few counter points based on Marty and my experience being both in the top 10 in country for VAs originated. 1) VA appraisers are independent appraisers who also do conventionals and guidelines are the same minus the inspection. They are just licensed/contracted by the VA to complete appraisals on the VA’s behalf. They don’t work for the VA and don’t have to take any VA appraisals if they don’t want to. The only GS appraisers the VA has work on the regional loan center staffs not in the field. 2) VAs are not just a zero down loan. Per the VA lender handbook page 3-9 veterans can choose to pay above the appraised value and can waive the appraisal valuation or write an appraisal gap just like a conventional. I know this reference because I educate realtors all the time on behalf of my clients on this. Just had a listing realtor with 25yrs of experience say she wasn’t taking VAs because she didn’t know this. I provided the references and my credentials and my clients were under contract later that day and are closing now. 3) The VA appraiser has more discretion on valuation than conventionals because they don’t go through a QC process like conventionals do. This can be a good thing or bad thing but considering the few low appraisals I see it is a good thing. 4) The VA has a review period and appeal process that conventioanls don’t have. If the appraiser does their initial review and can’t find sales data to support the price they issue a “Tidewater” notice and give the agents 48hrs to provide the comparable sales data to justify the value that the appraiser will use before issuing the final valuation. If it then still appraises low veteran can request a reconsideration of value through the staff appraisers. If after a tidewater and ROV it still is low then likely it’s over priced and many times it’s so late in the game the sellers negotiate. 4) Conventional loans max out at 95% loan to value not purchase price so assuming it also appraises low on the conventional not only would you have to still bring the 5% but you’d have to bring the difference between the appraised value and purchase price vs VA where you’d only have to bring the difference. This can also drive higher PMI on conventionals because it is also loan to value based. I believe any bias against VAs is due to a lack of education, experience or bad experiences in the past. I believe the reason people choose me to represent them isn’t just the rates and service. It’s that I will call up a listing agent and “educate” them so they feel comfortable with a VA and usually at the end of the convo they are all about it. Big banks and lenders miss this critical component and thus some agents remain ignorant to the value of VAs for their clients or potential buyers. It’s all about education and breaking the error chain upfront. Have a 15min convo on the phone with me about the value of VAs and I guarantee you’d never consider a different loan. Same with agents who I talk to. I’m not telling you you’re wrong or your stories aren’t accurate. I’m just saying they don’t need to be and posts like this only further the problem. I always answer my phone so happy to discuss it more if you’d like. Cheers! Jon 850-377-1114 jk@mythl.com

Thanks guys! Great to hear we’re living up to/exceeding expectations! We love working with y’all and we’re laser focused on having the best rates + customer service in the industry! Congratulations to both of you on the new homes! Let me know if you ever need anything! Jon 850-377-1114 PS…we also just found out that Marty was ranked the #1 VA loan originator for volume in the country last year and I was #8. Not too shabby for some small lender in the panhandle of FL that doesn’t advertise. https://www.scotsmanguide.com/rankings/top-originators/2022/top-va-volume

Thanks Steve and congrats! The national lock rate is at 4.58 on VAs as of Friday and I usually see use between .25-.5% less that the average with loan amount, credit score, and lock duration being variables. Combine that with us never charging any lender fees we seem to always come out ahead, but I'm glad you shopped around to see it for yourself. We'll take good care of you. Jon National lock numbers: https://www2.optimalblue.com/

Thanks Steve! We just treat everyone like we’d want to be treated, bring our expertise (our owner Marty was the #1 VA loan officer for volume and I was #8 in the country), and give our great rates/no fees to the best clients in the country. Pretty easy business model! Jon