Community Lending Solutions, Inc

Here's a tip for anyone who is considering buying a home or refinancing:

New services like Afterpay, Affirm, Sezzle, etc. are becoming very popular. It's where you can split a purchase from a retailer into 4 equal installments without interest. Seems like a harmless thing to do with nothing but a benefit to you as a consumer, right?

The problem is, this is new for the mortgage industry, and when you use these services, you are creating a "liability", which is a fancy way of saying you created a debt that you now owe, just like a credit account.

On government loans, we have to consider any installment debt, even if there are less than 10 payments remaining, that is more than 5% of your monthly income.

So....buying a new pair of shoes and using this service can cause chaos to calculating your debt-to-income ratio, and even more annoying will be the documentation required to prove the terms, etc.

My best suggestion is that if you plan on getting any mortgage financing, avoid using these for a few months prior and during your application process, because if they're seen on an asset statement of yours, you'll be struggling to document it.

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It's been MONTHS since a post, but in this case, that's a good thing.

The market has showed significant signs of improvement recently, and current rates are reflecting that.

As a result, I have been busy, busy, busy!

Remember, Community Lending Solutions, Inc is a one-person mortgage shop, so you get incredibly personalized attention and service.

It sometimes means we don't have time to post online, but I ALWAYS find time to make sure my customers get the best service, rate, and costs available in the market.

If you're thinking of refinancing a home you purchased in the last two years to save, or are finally ready to start shopping and buy a home now that rates have dropped, please get a hold of me at (330) 510-1418 and compare me to the competition. Odds are, you'll become one of those customers that prevents me from posting online!

I hope everyone has a great New Year's celebration! Looking forward to what 2024 will bring...

For folks watching the rate market, the recent drops we experienced have tapered off and it seems like a little bit of market conservatism has creeped back in, so we've had some very small increases over the past few days. I don't predict any wild swings either way for the remainder of 2023.

That said, I am still seeing some lenders where I can lock in on 30 year mortgages with fixed rates in the 5's (both Conventional and Government). That's a LOT more affordable than the 7's we were seeing earlier this year.

As always, my commitment is to search the market as your advocate and provide you the best loan program and price for your scenario, so if you need a mortgage and want to make sure you're getting the best rate/costs out there, I'm the person you should check with!

Hey everyone, I just wanted to say THANK YOU SO MUCH for sharing my post about my company yesterday. I wasn't expecting it, but I saw it everywhere. There were so many people that shared it that I don't know if I can find each person individually to thank them, but I will try!! I even had a few people reach out to me to ask about services, which is awesome.

I know I have other small business owner friends out there who can relate to this, but one of the most frustrating things is knowing that you have a better process, price, and service than all of the big box companies out there, but no budget or way to get your name out there - it kills me every day!! 🤣