Well Planned Mortgage | Press Page | The Yi Team at Apex Home Loans

August Drawing

It’s time for our monthly drawing! This month we’re giving away a $50 Amazon gift card!

It’s easy to enter and anyone can win. So why not give it a try?

Enter to win this month’s drawing by liking our page on Facebook and Instagram, tag a friend, and sign up for our next drawing drawing for a $50 Amazon gift card. That’s it! [Full details below]

HERE’S HOW TO ENTER THE AUGUST DRAWING

Follow The Yi Team on Facebook or Instagram
Tag a friend.
Click the “Sign Up Here” button above to find out about our next monthly drawing.

We’ll choose the lucky winner on August 18th!

ABOUT OUR MONTHLY CONTEST

The Yi Team Mortgage hosts a monthly drawing on our social media pages. We love our customers and community! Whether you have worked with us in the past, or plan to work with us in the future, or even if you’re just friends with us online, you know we like to have some fun! What better way to have a good time than with a monthly drawing!

It’s fun and easy to participate! Every month, tune in to our Facebook and Instagram pages for an announcement. Follow the directions to enter. Winners will be announced via DM (direct message) or email. Contest rules and awards will vary from month to month.

The Yi Team Mortgage contests are not affiliated with Facebook, Instagram or Amazon. No purchase necessary.

June Contest

About The Yi Team

Start Your Homeownership Journey

Buy A Home With Less

Putting 20% down on a new home is not possible for many families. Thankfully there are low, or no down payment home loan options available to home buyers right now.

Senior Mortgage Advisor, Derek Harman was recently interviewed by Aly J. Yale for Money.com.

Low down payment home loan options are available to home buyers in Rockville MD. — Senior Mortgage Advisor, Derek Harman was recently interviewed
by Aly J. Yale for Money.com

Home Possible and Home Ready Loans

The most popular low down payment options are Home Possible Freddie Mac Conventional Loan and Home Ready Fannie Mae Conventional Loan. These two products are geared towards 1st time home buyers that have good credit, but not a lot of assets that they can put towards a large down payment or closing costs.

Home Possible and Home Ready require a 3% down payment. These usually have a better interest rate than a regular conventional purchase and also has a reduced monthly PMI rate.

There is an income limit attached to this type of loan. Previously it was 80% of the area media income, but it has just recently been increased to slightly higher than that.

FHA Program

Another popular option is our FHA Program which is geared towards borrowers with less than excellent credit. It allows a higher debt to income ratio which may increase a buyers purchase power. The FHA Program requires a 3.5% down payment. There are pros and cons with an FHA loan so a consumer will want to make sure to discuss the details of each loan program with their lender.

Low and 0% Down Payment Options

Low down payment home loan options are out there. There are specific state and city grants, and 1st time home buyer programs that allow 0% down payments and also closing cost assistance. These have specific guidelines, possible income limits, required classes and certifications in order to qualify.

Buyers interested in these programs should do plenty of research and ask questions. These programs will usually take longer for closings and will go through a more rigorous underwriting process. Make sure to explore all options and understand the immediate benefits. Compare it to the big picture and long term benefits of a more conventional approach. Specific programs meet specific needs and it’s the lenders job to explore all of those needs with each client.

Changes Due To COVID-19

Low down payment options are not becoming more scarce. It’s surprising how many people still think that having a 20% down payment is still a necessity for home ownership and that is just not true. We are constantly doing loans with 3-5-10% down payments.

NO down payment options may be a little more scarce because they are state, city or county specific programs. Some of these programs may be on hold or have pulled back due to the circumstances surrounding the virus and the current market.

“It is important to note that due to current conditions, borrowers who use down payment assistance are at a disadvantage because of extended turnaround times and stricter guidelines”, says Derek Harman, Senior Mortgage Advisor.

Private Mortgage Insurance

Good news for Private Mortgage Insurance or PMI. There are options for no PMI mortgages with less than 20% down. For instance, there are LPMI (lender paid mortgage insurance). This can come with a higher interest rate which may cost more in the long run. The borrower can pay for the PMI upfront so there is no monthly payment.

Because the market is volatile right now and interest rates may fall in a very short period of time, this may be the right time to benefit from a refinance. Borrowers that refi now may have to deal with paying off the PMI more than once, which could cost in the long run.

Derek Harman tells his borrowers to weigh all options. “See where your comfort level lies with the total monthly payment and total amount of cash to close, and go from there.”

Options For No PMI

Borrowers can also do a 1^st and 2^nd mortgage to avoid PMI. Usually the 2^nd mortgage is a HELOC, which during these times, will have a favorable rate. There are still banks and credit unions doing 2^nd mortgage piggyback loans for this purpose.

On the 2^nd mortgage note, there are many companies out there right now with investors that have pulled back pricing on high balance loans. A high balance loan in the DC, MD and VA area is anything over $510,400-$765,600.

Basically, competitive interest rates or “market rates” may not be available. A lot of this has to do with the enormous volume of loans that everyone is taking on with the historically low interest rates at this time. “While this is being leveled out, it may benefit someone with a high balance loan to break it up into a 1^st and 2^nd mortgage and take advantage of the low rates”, says Harman.

Talk To Your Advisor

Home Possible and Home Ready conventional loans are right for borrowers with 700 + credit score. They require a 3% down payment with current rates at all time lows.

Borrowers with credit scores in the 640-660 range can benefit from an FHA loan. The idea is to strategically improve your credit within a year or 2. Then, refinance into a more permanent loan for long term savings.

Start Your Journey

Derek Harman

Senior Mortgage Advisor

“I truly love assisting people through this time of stress, and making the process simple and easy.”

I was born and raised in Petersburg, West Virginia, and I moved to Delaware when I was 14. I played baseball at Salisbury University, and graduated with a degree in Mass Media Communications and a minor in Psychology. I have lived in Virginia, the District of Columbia, and Maryland where I currently reside with my wife and two daughters. Having lived in these three areas, I have become familiar and fallen in love with each of their unique qualities. I have been in the finance and mortgage industry since 2011. For most people the loan process may be one of the most stressful times of their lives. I truly love assisting people through this time of stress, and making the process simple and easy.

I pride myself on customer service, professionalism, and integrity. I have surrounded myself with the best loan officers and mentors in order to become the best I can be. I look forward to meeting, and creating an opportunity to earn your trust!

Maximizing Financial Literacy

Mortgages During Quarantine

July Drawing

Are you decorating your home for the July 4th holiday? We want to see! Post a photo of your holiday decorations on social media and hashtag #theyiteam to enter the July drawing for a $50 Amazon gift card. [Full details below]

Being a homeowner has a lot of perks. Celebrating holidays at home is one of the best! Are you putting out your American flag? Did you set the table with some red, white and blue? Is your door adorned with a holiday wreath? Snap a pic and post it on social media. Share it with the hashtag #theyiteam so we can see what homeownership means to you!

Join Our Mailing List

HERE’S HOW TO ENTER THE JULY DRAWING

Follow our page on Facebook or Instagram
Post a photo of your 4th of July decorations on Facebook or Instagram.
Hashtag your photo #theyiteam.

We’ll choose the lucky winner on July 8th!

ABOUT OUR MONTHLY CONTEST

The Yi Team Mortgage is hosting a monthly drawing on our social media pages.We love our customers and community! Whether you have worked with us in the past, or plan to work with us in the future, or even if you’re just friends with us online, you know we like to have some fun! So, we thought what better way to have a good time than with a monthly drawing!

The Yi Team Mortgage contests are not affiliated with Facebook, Instagram or Amazon. No purchase necessary.

June Contest

About The Yi Team

Start Your Homeownership Journey

Market After COVID

Erin Finke of The Yi Team Mortgage and Julie Robinson of REMAX Real Estate talk about the DMV real estate market coming back at Phase 2 after COVID.

ABOUT ERIN FINKE

WHAT ARE PEOPLE FEELING ABOUT THE CURRENT MARKET?

Business is coming back online. That includes the real estate market after COVID. We are working with new clients who are ready to move around more after sitting at home for 3 months. Their perspective on house hunting has changed slightly. Knowing how much money home buyers want to spend is only one aspect of home buying. After living at home for this long, people are finding their needs have changed.

1. Families are feeling a sense of urgency to get their children into the new school district. After staying at home for this length of time many, families are feeling behind in their house hunting. Getting in to the right school district, even without knowing what school will look like in the fall is important to the real estate market after COVID.

2. People have reevaluated what they are looking for in a home. Many feel they need more space indoors so home is more of a multiple use space. No longer are families coming home, making dinner, going to bed and leaving for work. After spending lengths of time in the house, especially with family, there are different needs now.

3. Outdoor space needs have changed. Having a garden has become a popular hobby during the quarantine. Some people recognize they need more distance from neighbors, even some space from the neighborhood playground to be able to concentrate when working from home. The real estate market after COVID means people recognize different needs for outdoor space.

#QUARANTINEPROJECT

The #quarantineproject has become a phenomena. People are looking for activities to keep themselves busy while they’re home.

Julie Robinson says, “Their biggest question is: what should I do to my home while I’m stuck here?”

The answer will change depending on the neighborhood. A smart realtor will look at comparable homes before offering suggestions so you don’t over upgrade your home. Call your professional for an in-person or a zoom meeting to make sure your project gets a return on your investment.

CASE STUDY

Working with a client moving from out of town offers its own challenges. It’s nerve wracking. But helping people move into the DMV during a quarantine is still possible.

Julie and Erin have a client who lives in Colorado. They wanted to move to this area because their cousin lives here and they wanted to be closer to her. Erin helped the Colorado homebuyer get pre-approved so they knew exactly what homes they should be looking at. Julie’s partner, Mark, took the Maryland cousin to walk through multiple houses. With the help of Facetime, they were able to find the perfect house. The Colorado client made a strong offer, and got the house!

Erin Finke and Julie Robinson talk more about the 2020 real estate market and how it has been affected by the COVID-19 pandemic.

Spring Surge

Mortgages & COVID-19

NEXT Powerhouse Award

Rockville MD, June 2020 – Kellie Hodges, Brand Manager at The Yi Team Mortgage of Apex Home Loans was presented with the NEXT Powerhouse Award 2020.

NEXT Powerhouse Awards is the inaugural recognition for career-driven women in the mortgage industry. “Top contenders are making the most of technology, new ideas and modern advances to keep their companies moving forward,” says a NEXT Mortgage Event spokesperson.

“I spend so much time promoting other people’s careers. It was such a treat to have my work recognized by NEXT Mortgage Events! Especially when it means I’m grouped with so many amazing, go-getter, business women!” says Hodges.

Branch Manager, Chong Yi reached out to Hodges in 2018 to help his branch build their presence in digital, video and print. Hodges says, “I’m lucky to work with a team of smart, talented, interesting, fun loan officers. The building blocks for a really cool brand were already there. It’s just that they needed to be put together the right way to push the company forward.”

Video, digital media and technology are not new tools in the mortgage world. It’s HOW they’re used that can make a difference. “My talent is finding unique ways to use technology and clever copy to help my loan officers show up as their true selves: someone you would look forward to working with on the biggest investment of your life. I make the most of sometimes the smallest innovations and it shows up in our numbers and community engagement, ” says Hodges.

NEXT Mortgage Events will be spotlighting Kellie Hodges and the other amazing Powerhouses on August 23-25, 2020 at the #NEXTSUMMER20 virtual executive mortgage summit.

About Kellie Hodges, Brand Manager

NEXT Powerhouse Award Winners

June Contest

How would you use your refinance savings? Which would you choose next: a kitchen renovation, or a new garage? Enter our June Contest to win a $100 Amazon gift card, just in time for those weekend warrior projects!

Here’s How To Enter the June Contest

Got to our Facebook or Instagram page to enter.
Comment on which project you’re going to start next with your refi savings!

We’ll choose the lucky winner the week of June 8th, and announce them via DM.

About Our Monthly Contest

It’s fun and easy to participate! Every month, tune in to our Facebook and Instagram pages for an announcement. Follow the directions to enter. Winners will be announced via DM (direct message). Contest rules and awards will vary from month to month.

Be the first to know about our next drawing by joining our mailing list.

The Yi Team Mortgage contests are not affiliated with Facebook, Instagram or Amazon. No purchase necessary.

Refinance Your Mortgage

Funding Fun Projects

Mortgage As Investment

Chong Yi Ranked Top 1%

ROCKVILLE, MD, May 2020 – The Yi Team Mortgage is proud to announce that producing branch manager, Chong Yi, has been ranked as the “Top 1% Mortgage Originators in America 2019” by Mortgage Executive Magazine for the 7th year in a row.

Every year, Mortgage Executive Magazine compiles a comprehensive list of America’s top one percent of mortgage originators. The top 100 mortgage originator list debuted in 1995 in Mortgage Originator Magazine. Mortgage Executive Magazine expanded the ranking in 2001 to include the top 1 percent of the hundreds of thousands of loan originators in the United States.

Chong Yi has been ranked as Top 1% every year since 2013. The minimum eligibility for this classification is a personal production of at least $30 million per year. This cannot include loan volumes of associate originators. [More about Chong Yi]

Mortgage Executive Magazine seeks to recognize and celebrate the service, dedication and hard work that leading mortgage professionals like Chong Yi have put into serving their clients during the home loan process.

ABOUT THE YI TEAM MORTGAGE

The Yi Team Mortgage is the Shady Grove branch of Apex Home Loans. They are currently licensed to help borrowers in Maryland, DC, Virginia, Delaware and Florida. The Yi Team attributes their success in the mortgage industry to dedication to strong customer service and supporting their communities. Chong Yi is a regular spokesperson for Real Men Wear Pink, a competition to benefit American Cancer Society. In 2019 Chong initiated Mortgage On A Mission to benefit the charities and causes that he and his referral partners support. For more information on The Yi Team, visit their pages on Facebook, Instagram and Youtube.

Mortgages During Quarantine

Borrowers and home buyers have a lot of questions about mortgages during quarantine. It may feel like the whole world has stopped. But that isn’t the case at all. In fact, there is a LOT going on in the real estate industry today.

I sat down with senior mortgage advisor, Derek Harman to get his perspective on how the coronavirus has changed home buying today. How are mortgages during quarantine being affected?

Is it a good time to buy a home right now?

The short answer is yes! People will always need to move. Even during our current quarantine there are people selling their homes.

Of course there are not as many homes as normal for the spring market. Inventory is low. That creates a great opportunity for competition between potential homebuyers.

I’m making sure my clients are set up so they are prepared for that possibility. It’s important to make sure borrowers can bring their best offer to the table so they are the winning offer.

What do you see happening with interest rates in the near future?

Interest rates are very favorable right now. There is some up and down in the market, so I recommend that borrowers get all of their information together as soon as possible, especially for a refinance. That way they’re ready to lock in the best possible rate before the rates change.

My clients get a list of all the documents they need so they’re ready quickly.

Should I refinance my mortgage during quarantine?

Anytime you have an opportunity to save money on one of the largest financial investments in your life, you should do it!

Now is the time to contact your mortgage advisor, if they haven’t already called you. They will be able to review your current mortgage and see how you can save money. Being smart and saving money right now might make a world of difference in our current economy. I like my clients to be prepared.

Of all the quarantine FAQs I’m hearing, this is the one that I hope everyone is taking action on.

Why don’t all mortgage products offer the same low rates right now?

There isn’t a pat answer for this. I’m answering questions like these every day, and the answers are changing. It’s important that my clients have a conversation with me before they spend time looking for homes that aren’t in their price range. I want to make sure borrowers are set up for success, so my advice changes case by case.

So what is the first step for people who want to buy a home right now?

Thankfully my answer to that hasn’t changed! The first step for mortgages during quarantine still means start with a call or email to your mortgage advisor.

Make sure they set you up for success. For refinances, you don’t want to miss out on the right interest rates. Find out what paperwork you need and send it in ASAP so you don’t miss an opportunity.

For home buyers, find out how much home you can afford so you don’t get outbid by someone else with the house you have your eye on. And you don’t want to be wasting time or taking chances with your health looking at a home that isn’t in your price range.

For more information about mortgages and to get started with your refinance or home buyer journey, check out the links below.

More About Derek Harman

Monthly Mortgage Newsletter

Apply Now

Spring Surge

Julie Robinson of Julie Robinson & Mark Smith Associates and Erin Finke of the Yi Team Mortgage discuss the spring surge, current market events, questions from clients, and what we are seeing in the Real Estate Industry in the time of COVID-19.

Do you think that home values will drop, based on the COVID-19 pandemic?

Absolutely not. Julie and Mark have found new ways to show a home. During this spring surge, homes are selling quickly and sometimes even $10,000 over listing! We are learning something new every week, from childcare to running our businesses. We’re shifting how we’re doing things, it’s the new normal.

“People want to move. They’ve been stuck inside and see that they need more space” says Julie.

Online Tools

Some home search tools are outdated. Too much traffic means there is stale information on there. They aren’t being updated regularly. The right realtor has access to the most current home listings, including the spring surge of homes that haven’t even hit the market yet!

The Yi Team has a new software home valuation tool. It goes out to all homeowners to let help them understand the market and the value of their home. This is information is based on computer data. Nothing beats the advice of a great realtor who sees what’s happening in real time and in perspective.

People are curious about interest rates. Should people be refinancing?

Rates are great! Refinancing depends on the goals of the homeowner. A low interest rate is great, but what is the priority in restructering the loan? We would need to have a conversation before we can answer that question. We need to know things like how long are you going to be in the home? What do you want the monthly payment to be? In managing the largest debt you have, there is no one-fits-all answer.

The last word.

With everyone staying home, people are ready to move. There is serious competition lined up for buyers when the quarantine is over. Start now working with your realtor. Start now working with your mortgage advisor. Prepare during this spring surge so you’re ready for your move or refinance.

More about Real Estate & Mortgages during COVID-19.

Get started on your refi or home purchase.

Say hello to Julie Robinson, of Julie Robinson and Mark Smith Real Estate.

Mortgages & COVID-19

Healthcare Heroes

Governor Hogan announced that Saturday, May 3rd is Healthcare Heroes Day. We asked all of our clients, borrowers, friends and family send in photos of the essential workers and healthcare heroes in their lives so we could honor them with a shout out on social media. Thank you to everyone who sent in photos to help us show our appreciation with a video.

Take 45 seconds to see the faces of these heroes!

Thank You Healthcare Heroes!

Thank you for all that you do! We are honored and inspired to have you in our lives!

Lori L, nurse practitioner in New York. Katie I, registered nurse in Baltimore. Mike W, 911 dispatcher in New York. Jennifer V, corrections officer in New York. Cindy K, registered nurse. Jennifer C, nurse. Bekah, registered nurse. Kyle, police officer. Jeff D, NICU nurse.

See more on our Facebook page.

Mortgage On A Mission

We hope you chose The Yi Team because of our smart mortgage advisors and loan programs. But we want you to stick around because every loan we provide makes the world a better place. We’re proud of our social purpose and activism We hope you are too. Isn’t that what “home” is all about? [Read More]

Mortgage On A Mission

Mortgage Relief Options

Due to the COVID-19 pandemic a lot of homeowners are furloughed or out of work. They’re wondering how they’re going to make the next mortgage payment. There are some mortgage relief options out there, but get educated before you make the leap.

Should you apply for forbearance?
Chong Yi shares the benefits and pitfalls of applying for forbearance and other mortgage relief options. Things are changing quickly. In general, Chong feels that mortgage relief is a positive. It allows borrowers to put their mortgage payments on hold for several months. He warns there are pitfalls to think about before jumping at forbearance.

If you take forbearance for 3 months, do you have to pay it back all at once?
First, understand that only government backed loans can apply for forbearance. Like FHA or VA loans. The best way to find out if yours applies would be to ask loan servicer.

There are 3 ways that loans might be paid back.
Each loan servicer has a different policy. The CARES Act does not have a universal pay back plan. So call who you send your mortgage payment to for accuracy. [More about the CARES Act]

In general, there are 3 ways to handle payments that are being deferred.

The unpaid payments are added to the back end of the loan. If you have a 30 year loan and forbearance for 3 months, you would pay for 30 years and 3 months.
The unpaid payments are paid in one lump sum at the end of the forbearance period.
The unpaid payments are spread out over several months, making your monthly payment higher for a certain amount of time.

Chong is concerned that 2 of the 3 options may leave borrowers unable to afford the monthly mortgage payment.

Who decides how the forbearance is paid back?
Each loan servicer has their own policy to pay back the forbearance. Borrowers much call their loan servicer to find out what their policy is.

What are the drawbacks of forbearance?
According to Chong there are 2 pitfalls.

In order to pay back the forbearance, borrowers may be unable to afford the monthly payment.
It is unclear how forbearance will affect future credit and borrowing power.

If you are struggling now, what are your mortgage relief options?
Chong suggest you first take a deep look at your budget. Is it possible to go leaner for the next few months? This is not free money. Secondly, if you must apply for forbearance, call your loan servicer and make sure you get the forbearance in writing.

We know you have questions about forbearance and CARES Act. You can find more information in these two posts below.

Have a question for Chong Yi? Read his bio and ask a question here.

CARES Act Mortgage Tips

Mortgages & COVID-19

Interview with Chong Yi and Fox 5 DC.

CARES Act Mortgage Tips

Lack of timeline to repay CARES Act mortgage relief could hurt homeowners. Borrowers are calling Chong Yi with a lot of concerns right now. Paying the bills when you’ve been laid off or furloughed is a difficult decision that many people are facing.

The CARES Act and Forbearance were initiated to offer relief to homeowners who are struggling during the stay at home government mandate. What hasn’t been clear is each lender and service provider is following different rules regarding repayment. There isn’t a universal timeline for how the lender can make you pay back that money.

What is CARES Act?
CARES Act stands for Coronavirus Aid, Relief, Economic Security Act. Here’s the bill.

Who Should Apply For Forbearance?
The CARES Act only applies to borrowers with a federally backed loan, like Frannie Mae or Freddie Mack.

Forbearance Is Not Free Money
Forbearance is an agreement to take a temporary break from paying your mortgage. This money must be paid back at some point. Legislation does not give a timeline on how this money must be paid back.

Lump Sum as soon as forbearance period is over.
Split up that unpaid money over a few months. This would be added to your monthly mortgage payment.
Add it on to the end of the loan.

Legislation Needs To Be Made Clear
VA Senator Mark Warner said the intent of the legislation was to add those unpaid monthly payments onto the end of the loan. So if your mortgage was in forbearance for 3 months, if you have a 30 year mortgage it would then be 30 years + 3 months. Warner goes on to say that we need broader guidance regarding the repayment to help people get through this unprecedented period. The repayment program needs to be more universal. CARES Part 2 would address this.

How To Protect Yourself and Your Home
Chong Yi reminds borrowers to protect themselves when they’re considering forbearance.

Make sure you call your loan service provider. Find out what their repayment program entails.
Get something in writing. Things are changing quickly. Make sure you have an agreement in writing from your service provider.

The Bigger Picture
We’re left with more questions. What happens to those lenders who don’t have the income from your mortgage to pay their investors, what happens to the whole mortgage system?

If you have additional questions about forbearance or the CARES Act please contact Chong Yi. More about Chong Yi.

Mortgages & COVID-19

Questions are pouring in about how the mortgage and real estate industry is meeting today’s challenges during the COVID-19 pandemic. The biggest one: What does home buying look like during the pandemic? Erin Finke of the Yi Team Mortgage Advisors and Julie Robinson of Julie Robinson & Mark Smith Associates of Remax Realty Group discuss current professional adaptations of the Real Estate & Mortgage industry in the new normal.

How are housing and mortgage industry professionals managing the needs of their clients during COVID-19 pandemic?

Real estate agents and mortgage advisors are considered essential workers. Our businesses are open and still operating. We’re just working differently.

How do you interpret what government officials are mandating into what’s happening in the housing market?

The house hunting process has made a few adjustments to accommodate for the social distancing required by Governor Hogan. First, we’ll set up a virtual phone call, just like this one we’re having on Zoom. I can tour your home on Zoom and suggest ways to prepare your home for sale, offer staging ideas.

Service providers have also adapted how they support. Home stagers and home inspectors will come in with masks and gloves. Some appraisers will do a drive by appraisal if the homeowner doesn’t want anyone in their home.

What’s happening in the housing market now?

Spring market is our busiest time. There are a lot of buyers buzzing around. Inventory is low. Now is the perfect time to start planning, whether you’re buying a new home or refinancing your current home.

What’s happening in the mortgage market?

We’re still working, just doing it differently. Luckily for us the mortgage process is pretty much the same. We can work from our home office and process your loan much the same way. To be clear, there are challenges, but they are temporary. Guidelines are more strict. Different loan products are temporarily suspended. There is the added hurdle of furloughed workers and people who are out of work.

What should I do if I have been furloughed? How can I be ready when the pandemic is over?

The first step is to contact us to figure out a plan. We’ll make sure to put the steps in place so you are set up for success when things open back up again. Without some smart planning you might find yourself a few weeks behind.

What will happen when the pandemic ends?

Expect a delayed spring market. A lot of people have been holding off selling their home, or buying a new home, because of social distancing. When the quarantine is lifted, there will be a crush to list their homes. That means there will be a lot more homes available.

Thankfully, all of this is temporary. There will be changes to how we do business. But the best thing you can do now is be prepared. Talk to your mortgage advisor and your real estate professional to discuss your goals. Get pre-qualified so when social distancing and the COVID-19 pandemic is over, you’re ready to move when the opportunity presents itself.

Get more information

Want more tips from Erin Finke? Here’s her weekly podcast, Coffee & Jam. And her bio with apply now button, About Erin.

Go to Julie Robinson’s website: Julie Robinson and Mark Smith Associates, ReMax Realty Group.

Thank You!

Sending a big THANK YOU to all of our clients and referral partners out there! We appreciate your business and your patience during these unusual times.

We are open for business and very grateful for new home loans and refinances. Behind the scenes, we are working to update practices to keep us all safe while staying legally compliant.

Give us a call with any questions about your mortgage or if you are thinking of buying a home now. We can help guide you!

Healthcare Heroes

Testimonials

It’s Time To Refinance!

The spring market of 2020 is moving especially fast this year. Refinance rates are at a historic low. Mortgage Advisor Chong Yi shares how to make sure you don’t miss an opportunity to save some money on your home loan.

We’ve been getting a lot of questions about the market this week. How do you know if it’s the right time for you to refinance your home? How has the Federal Reserve changes affected refinance rates? Can you save any money if you refi now? Will the rates go any lower? Is there such a thing as a 0% interest rate? How do you get started with a refi? How can you lock in a loan if your mortgage advisor can’t reach you by phone?

Chong and his mortgage advisors have answers to all these questions. And yes, quite a few of you can save a lot of money. But mortgage rates are moving quickly. Sometimes within hours. So it’s important to have a plan in place to grab that low rate on the next wave.

Don’t miss an opportunity! Click “Client Questionnaire” in the top right corner to get started on your refinance.

We’ll keep you updated about refinance rates on our Facebook and Instagram pages also.

Press

HERE’S HOW TO ENTER THE AUGUST DRAWING

ABOUT OUR MONTHLY CONTEST

Home Possible and Home Ready Loans

FHA Program

Low and 0% Down Payment Options

Changes Due To COVID-19

Private Mortgage Insurance

Options For No PMI

Talk To Your Advisor

Derek Harman

HERE’S HOW TO ENTER THE JULY DRAWING

ABOUT OUR MONTHLY CONTEST

WHAT ARE PEOPLE FEELING ABOUT THE CURRENT MARKET?

CASE STUDY

Here’s How To Enter the June Contest

About Our Monthly Contest

ABOUT THE YI TEAM MORTGAGE

Is it a good time to buy a home right now?

What do you see happening with interest rates in the near future?

Should I refinance my mortgage during quarantine?

Why don’t all mortgage products offer the same low rates right now?

So what is the first step for people who want to buy a home right now?

Do you think that home values will drop, based on the COVID-19 pandemic?

Online Tools

People are curious about interest rates. Should people be refinancing?

The last word.

Thank You Healthcare Heroes!

Mortgage On A Mission

CONTACT US

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