Travis Newton, Guild Mortgage, named #3 Homes for Heroes Lender Affiliate Nationwide in 2013

Press Release

Travis Newton, Guild Mortgage, named #3 Homes for Heroes Lender Affiliate Nationwide in 2013

Salem, OR – March 4, 2014. Homes for Heroes is proud to recognize Travis Newton with Guild Mortgage, as its #3 Lender Affiliate Nationwide in 2013 based on number of heroes served. Travis was the # 1 Lender Affiliate in Oregon and the #1 Lender on the West Coast.

About Travis Newton
Travis Newton, Sales Manager of the Salem Oregon Guild Mortgage Office, helped many Oregon Heroes with their Mortgage needs in 2013. Travis has been in the mortgage field for 13 years and strives to deliver outstanding customer service to his clients and business partners. Travis also volunteers many hours per week with the Cascade Youth Basketball program and finishing up his 17th year coaching Girls Basketball at Cascade High School in Turner. Travis can assist you with any mortgage needs you may have, Purchase or Refinance.

About Homes for Heroes
Homes for Heroes, the Nation’s Largest Hero Savings Program, aims to help close the gap between the cost of housing for military personnel, police officers, firefighters, teachers, first responders, and others who serve our community and nation.
Inspired by the heroes who serve and protect their communities and our country, a partnership of Realtors, mortgage lenders, title companies, and other affiliated service providers created Homes for Heroes, Inc. This collaboration of real estate professionals’ sole mission is to provide significant savings during the real estate process. With over 1,300 Affiliates in 49 states, Homes for Heroes Affiliates have saved the heroes of our nation over $4.8 million when buying, selling, or refinancing a home.
More information about Travis Newton and Homes for Heroes can be found HERE or by calling 503.931.4490.

 

Looking to get PRE APPROVED? Go HERE

Your Loan, On Time, Every Time!

Travis Newton

503.931.4490

Sales Manager

OR MLO 269195

#3274 OR 176

 

VA Loan: The Perfect Loan For Veterans

 

VA Loans – A Great Option for Veterans

A VA loan is a mortgage loan guaranteed by the U.S. Department of Veteran Affairs (VA) that is available to most US service members. It offers some very great benefits to those that have served our country.

Benefits of VA Loans

• You can buy a home with no money down.
• You can refinance your home up to 100% of the value of your home.
• You never have to pay PMI (Private Mortgage Insurance).
• Sellers can pay your closing costs.
• They are usually easier to get because the Government insures the loan so that there is much less risk to the lender.
• If you already have a VA Loan you might be eligible for a VA Streamline Refinance.
• Disabled Veterans may qualify for a waiver of the Funding Fee if they receive any disability payments from the VA or if they are considered to be at least 10% disabled.

Who is eligible for a VA Loan?

As a rule of thumb, almost all active duty or honorably discharged service members are eligible for a VA loan.

You may be eligible for a VA loan if any one of these statements describes you:

• I served 181 days during peacetime. (Active Duty)
• I served 90 days during wartime. (Active Duty)
• I served 6 years in the Reserves or National Guard.
• I am the spouse of service member who was killed in the line of duty.
• I currently receive disability payments from the VA.

What is the VA Funding Fee and is it required?

Yes, it is required. It is a fee paid directly to the Department of Veteran’s Affairs so that they can guarantee your loan and provide you with the opportunity to receive a loan with little to no money out of pocket.

How much is the VA Funding Fee?

It depends on several factors including: Whether you are Active Duty, Retired, Guard or Reserve and whether you this is a first time use, subsequent use, or a cash-out refinance as well as how much of a down payment you are putting down. The fee can range from as little as 1.25% up to 3.3% of the loan. Generally, the more money you put down the lower the VA funding fee. Please contact us and we will help you to determine how what the exact cost of the VA Funding Fee would be for your particular situation.

Do I have to pay the VA Funding Fee out of pocket?

No, you can include the VA Funding Fee in your loan and pay the funding fee over the course of your loan.

Do I still have to pay other normal closing costs like Appraisal, Title and Escrows?

Yes, however with a VA loan if you are purchasing a new home the seller can pay for all or part of your closing costs.

What is a VA Streamline Refinance?

A VA Streamline Refinance is a refinance option that is available if you already have a VA mortgage and you want to lower your interest rate with little or no out-of-pocket closing costs. You don’t have provide bank statements, W2s, job verification or paychecks.

You can reach Travis Newton, Mortgage Lender Affiliate in Salem Oregon at 503.931.4490 or on the Oregon Homes For Heroes Facebook page.

Looking to get PRE APPROVED? Go HERE

Your Loan, On Time, Every Time!

Travis Newton

503.931.4490

Sales Manager

OR MLO 269195

#3274

 

 

Stop Paying Your Landlords Mortgage!

It’s staggering when you think about the cost of living, especially if you’re a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company will effectively have reaped $36,000 of your hard-earned cash! You’re paying their mortgage when you could be building equity in your own property.

What if I don’t have the money to buy a home right now?

There are loan programs available that offer low and no down payment options. USDA, VA offer NO DOWN PAYMENT options.  Some programs permit gift money as a down payment, and often sellers are willing to make a contribution to your purchase in the form of seller paid closing costs if they want to sell the home quickly.

There are many benefits of home ownership to consider, most of all, tax deductions. Let’s take a look at how advantageous this can be as a homeowner:

How much is tax deductible?

Tax deductions vary, but the IRS has laid out solid rules. They also have several tax publications full of helpful information worth taking the time to read. Publication 530, Tax Information for First-Time Homeowners, is very thorough, as is Publication 936, Home Mortgage Interest Deduction. For quick reference, you can refer to Tax Topics 505, Interest Expense, and 504, Home Mortgage Points.

These publications often refer to local and state guidelines, so you may want to consult a CPA to answer all the questions that arise from reading these materials. Here are a few tips you should know up front:

Real Estate taxes are deductible on a primary residence. Real Estate taxes are paid at settlement or closing, or through an escrow account.

Mortgage interest is deductible on a loan to purchase, build or improve your home. Your lender will provide you with a Mortgage Interest Statement (Form 1098) to list the total interest paid during the year. This should include any deductible points paid for that year.

Pre-paid interest is deductible in the year it is paid. At the close of a real estate transaction, borrowers usually pay for the interest on their loan that falls between the closing period and the first of the next month. Mortgage payments are made “in arrears” so when a loan is closed mid-month, there is interest due to the new lender which must be paid in advance.

If you are building a home, the interest on the construction loan is deductible. The construction period cannot exceed 24 months prior to the date that you move in if you claim this as your primary residence.

Call me to discuss your specific needs and we’ll find the program that’s right for you.
We have a variety of low down payment and no down payment programs available. Want to own a home? We can help! 503.931.4490.

By the way, If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon directly at 503.931.4490

Your Loan, On Time, Every Time!

Travis Newton

503.931.4490

Sales Manager

OR MLO 269195

#3274

 

15 or 30 Year Fixed?

1. Can you afford to pay off the mortgage in 15 years?

Although a 15-year mortgage offers a lower rate relative to a 30-year mortgage, thereby allowing borrowers to pay interest for only half as long, a 15-year mortgage comes with a higher total monthly payment. This is because the principal must be paid off faster, making each principal payment larger.

Because borrowers pay down the principal balance faster, in the longer run they save on interest payments. Inside Mortgage Finance publisher Guy Cecala noted, “if you can afford the higher payments associated with the shorter-term 15-year mortgage, there is no reason not to take one.”

However, because the monthly payments are higher, it can strain borrowers’ ability to set aside money for retirement or their kids’ college tuition. These borrowers may be better-off with a 30-year mortgage. Similarly, if the higher payments of a 15-year mortgage mean borrowers have less money to invest elsewhere and diversify their portfolios, they may be better off with a 30-year mortgage.

2. Are you buying your first home?

First-time home buyers often benefit from selecting a 30-year mortgage because the monthly payments are lower. A longer-term mortgage can make a more expensive home more affordable for a new buyer. According to Cecala, most first-time home buyers “are trying to get in as much house as they can.”

Of course, 15-year and 30-year mortgages are not the only options available to consumers. Borrowers can take an adjustable-rate mortgage, which offers a low initial rate that stays unchanged for some period, such as five years. When the period expires, borrowers could pay more if interest rates rise. But for buyers who are not looking to own their home for too long and who are confident that they will be able to resell the home, an adjustable rate mortgage may be a sensible option.

3. Are you looking to refinance?

If you already have a mortgage and would like to refinance, now may be a good time. Cecala noted that if your current payments on a 30-year mortgage are high enough, you might be able to refinance into a 15-year mortgage and make similar monthly payments while shortening your mortgage term.

An additional factor that may make refinancing more attractive is the current difference, or spread, between interest rates on 15-year and 30-year mortgages. According to Cecala, “historically, the difference between the 30-year fixed rate and the 15-year fixed rate has been about 25 basis points,” or about 0.25%. Currently, the spread between the two rates is especially large, at close to 1% in some cases.

Are you planning on retiring soon?

How close a borrower is to retiring plays a major role in whether to take out a 15-year mortgage. Typically, borrowers who take 15-year mortgages are at least 40 years old, according to Cecala. These borrowers are often willing to pay off the balance on their mortgages faster in order to retire with little or no outstanding debt on their homes. However, many older homeowners also must weigh prepayment — making early payments on their mortgage — against the need to save for retirement. According to the CFPB, 30% of homeowners aged 70 and older have outstanding mortgages.

5. Do you have a strict savings plan?

Choosing a 15-year mortgage over a 30-year mortgage also may be a worthwhile choice if you are not a disciplined saver. But many people may lack the discipline needed to save long-term, Cecala noted, especially in amounts that would offset what they would save by switching to a 15-year mortgage. He also added that “a lot of times people need that extra money for something else,” and so they choose to keep their money in a 30-year mortgage with lower individual monthly payments.

Some truly disciplined savers may actually benefit from carrying their mortgages into retirement. According to a May story published by Time magazine: “if you expect to earn more after tax on your investments than you pay after tax on your mortgage, keep the mortgage.” What you want to avoid in retirement, however, is a situation where you are juggling a mortgage on top of your basic costs of living, taxes and health care payments.

Are you looking to buy or refinance your home? Please contact us to see how we can assist you!

By the way, If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon directly at 503.931.4490

Your Loan, On Time, Every Time!

Travis Newton

503.931.4490

Sales Manager

OR MLO 269195

#3274

 

Raise Your Credit Score – And Quickly

If you are looking to improve your credit score quickly, now is the time to get started. Give us a call. We’ll review your credit and find out exactly where you stand and where you need to get to. In the meantime, here are some great strategies you can utilize right away to give your score a little boost.

Create Some Balance: While paying down installment debt (car, school, mortgage, etc.), on time, and as agreed, shows responsibility and will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick and significant jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card on your monthly statements. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Cancelling those cards may inadvertently undo all of your hard work.

Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.

Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don’t report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you’re in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.

Protect Your Interests: Your credit score is calculated based solely on the information available to the credit bureaus. If you have a HELOC, make sure it’s listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported as included in the bankruptcy with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it’s important to monitor your credit every four to six months.

Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau’s website and file a dispute online. If supporting documents are necessary, you have to file your dispute by mail.

If you’d like more information or a copy of our Sample Dispute Letter, give us a call right away. We’ll be glad to help you in any way we can or, if it becomes necessary, refer you to credit professionals you can trust.

If you or anyone you know has any questions about credit scores or what can be done to repair them, please don’t hesitate to call.

By the way, If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon directly at 503.931.4490

Your Loan, On Time, Every Time!

Travis Newton

503.931.4490

Sales Manager

OR MLO 269195

#3274

 

5 Reasons to Buy A Home Now Instead of Spring

I love reading the KCM Blog.They always have wonderful info on the Real Estate and Mortgage Market.

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices are projected to appreciate by over 25% from now to 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.

Owning a Home Helps Create Family Wealth

Whether you are rent or you own the home you are leaving in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Fed, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

Interest Rates Are Projected to Rise

The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the end of 2014. That is an increase of almost one full point over current rates.

Buy Low, Sell High

We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy.

You can view more great articles from the KCM blog here: http://www.keepingcurrentmatters.com/

By the way, If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon at 503.931.4490 or on the Oregon Homes For Heroes Facebook page.

 

The Cost of Waiting To Buy Could Cost You $18,000 Over a 10 Year Period!

I get this question a lot: “Should I buy now, or wait to see what home prices and rates do? My answer is always the same; we can’t predict the future, if you find a home  you love and rate you’re comfortable with….then make an offer and lock in that rate! 

KCM Blog just posted a great info chart that easily explains the “cost of waiting”. In this scenario, you may be paying $18,000 more over the next 10 years if you wait just a year to buy. 

Is now the time to buy? Well, with interest rates still very low, and home pricing trending upwards, now IS the time to at least look into your options. Feel free to contact us with any questions you may have, we’re here to help!

By the way, If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon at 503.931.4490 or on the Oregon Homes For Heroes Facebook page.

 

 

When is the Best Time to Lock Your Mortgage?

Interest Rates When is the Best Time to Lock?
When it comes to mortgage loans and interest rates, it’s never a good idea to gamble. That’s why I typically advise my clients to lock in an interest rate at the earliest opportunity. This is just one step of the standardized system we have put in place to ensure the best possible loan experience for each borrower that we work with. While you can float until just before closing, it’s usually not a good strategy due to these fluctuating factors: Interest Rate Points or fees Length of the lock Locking in a rate does not obligate the borrower to commit to the loan until the loan is actually closed. The lock is merely a security measure designed to eliminate the risk of market volatility throughout the duration of the purchase or refinance transaction. As long as the loan is approved and funded before the end of the lock period, the borrower will receive the interest rate quoted.

When a lender permits an extended lock-in period, the borrower will likely face a higher interest rate or additional fees that could be quoted as points. In other words, the borrower pays for the lender to take on the extended risk of being exposed to potential changes in the market. For example, let’s say a 30-day rate lock commitment costs the borrower one-half point, while a 60-day rate lock commitment costs one full point. If the borrower in this scenario needed the extended lock period, but did not want to pay points, then an alternative would be to accept a slightly higher interest rate. In this case, a 60-day lock would typically have a higher interest rate than a 30-day lock.

If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon at 503.931.4490 or on the Oregon Homes For Heroes Facebook page.

 

Homes for Heroes Celebrating 12th Anniversary

 
Salem, Oregon – Homes for Heroes is celebrating its 12^th year of bringing savings to our nation’s heroes. The program was created to honor those that serve our communities every day and ensure a legacy of remembrance for those that lost their lives that tragic day in September of 2001.
 
Ruth Johnson, President and CEO of Homes for Heroes, is one of the five founding members who started Homes for Heroes, Inc. in 2002.“We all remember where we were. We all recall how we felt. WE decided to do something about it!  We created a forever remembrance, a never ending thank you, to all the Heroes that day. We all share admiration for the people who serve our community, often selflessly and wanted to recognize and show our appreciation in a meaningful way, “said Johnson.
 
The Homes for Heroes program has grown to become the nation’s largest hero savings program with over 1,000 affiliates in 47 states. It is comprised of realtors, lenders, and other real estate-related providers who are willing to offer substantial savings and discounts to when buying, selling or even refinancing their home. Nationally, the program has given back well over $3 million to heroes all over the country, a total that continues to grow on a daily basis.
 
Homes for Heroes has served thousands of heroes across the country including Minneapolis Police Sergeant, Tim Hatchner who says, “This is not a gimmick. There is no extra paper work or special guidelines or income limits. Homes for Heroes is comprised of full service real estate, mortgage and title company professionals, who have long established reputations in the Twin Cities. Both the sale and the purchase of my home went off without a hitch. Homes for Heroes saved us nearly $5000.00 at closing. When raising a young family, every penny counts! I would definitely recommend this program to my fellow officers.”
 
If you would like more information about Homes for Heroes program please contact Travis Newton at 503.931.4490.

If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach Travis Newton, the Homes for Heroes Mortgage Lender Affiliate in Salem Oregon at 503.931.4490 or on the Oregon Homes For Heroes Facebook page.

 

3 Great Reasons To Buy A Home Today

The KCM Blog does a wonderful job of putting out wonderful articles on the home buying process. 

Here are three great reasons to consider buying a home today instead of waiting.

1.) Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released last week projects appreciation in home values over the next five years to be between 12.3% (most pessimistic) and 32.8% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes any sense.

2.) Mortgage Interest Rates Are Increasing

As reported by Freddie Mac, interest rates for 30-year fixed-rate mortgages have risen about one full percentage point over recent historic lows.

The National Association of Realtors, the Mortgage Bankers Association, Freddie Mac and Fannie Mae, in their July forecasts, have all projected 30-year-fixed mortgage interest rates to be between 4.8 and 5.1% by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3.) It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

By the way, be sure to ask about our Homes for Heroes program! If you or anyone you know is a TEACHER, MILITARY, FIREFIGHTER, POLICE, CORRECTIONS, NURSE, DOCTOR, DENTIST, MEDICAL ASSISTANT, CNA, Etc, you may qualify for our Homes for Heroes program! You can reach me, Travis Newton, Homes for Heroes Mortgage Lender Affiliate in Salem Oregon at 503.931.4490 or on the Oregon Homes For Heroes Facebook page.