Jason M. Ruedy Named Top Loan Officer In Production by CMG Financial

Jason M. Ruedy, also known as The Home Loan Arranger, has been named Top Loan Officer for the state of Colorado in Production by CMG Financial, a privately-held mortgage-banking firm that conducts business throughout the United States.

 — Denver Mortgage Broker Jason M. Ruedy, also known as The Home Loan Arranger, was recently named Top Loan Officer for the state of Colorado in Production by CMG Financial, a privately-held mortgage banking firm founded in 1993.

The honor was awarded to Mr. Ruedy based on several key factors, but primary on his ability to close a high volume of loans on a consistent basis.
According to Mr. Jon Strombeck, Account Executive at CMG Financial, “The dedication of the Home Loan Arranger and his team to meet the needs of his clients, and the relationships he has with the group at CMG are just two reasons he was named a Top Loan Officer. In addition to the impressive number of loans he closes, he also delivers realistic expectations to his clients, which results in an enjoyable lending experience.”

CMG Financial, which is well-known for its responsible lending practices, makes its products and services available through correspondent lending, wholesale lending, and retail lending. The mission of CMG Financial is to deliver the best possible loans for the right reasons in a manner that exceeds expectations.

“It was an honor to learn that I was named as a Top Loan Officer in Production by CMG Financial. Having worked in the mortgage industry for more than two decades, I know that hard work and dedication can result in meaningful awards such as this. I will continue to work with CMG Financial – and I hope that I earn this award again next year,” said Mr. Ruedy.

Mr. Ruedy is proud of the exceptional level of customer service he provides for his clients. He is wholeheartedly motivated and determined to help borrowers obtain the best possible mortgage interest rates and to streamline the mortgage application and closing process. According to Mr. Ruedy, helping his clients succeed is one of his greatest priorities – and is one reason CMG Financial chose to recognize him as a Top Loan Officer.

About The Home Loan Arranger:
Mr. Jason M. Ruedy, also known as The Home Loan Arranger, has 20+ years of experience in the mortgage business. His company was built around the crucial principles of hard work, discipline, and determination. The Home Loan Arranger evaluates client applications quickly and efficiently and structures loans with the best possible terms. Mr. Ruedy is successful in achieving loan closings for clients while meeting their highest expectations. Jason M. Ruedy is ranked #1 in the state of Colorado by CMG Financial, and he is among the top 25 US producers according to Scotsman Guide, which is the top leading resource for mortgage originators.

For media inquiries, please contact Mr. Jason M. Ruedy, “The Home Loan Arranger”:

Contact Info:
Name: Jason. M Ruedy
Organization: THE HOME LOAN ARRANGER
Address: 3255 S BIRCH STREET DENVER, CO 80222 NMLS# 392188, 269437
Phone: 3038624742

Can You Find a Low Interest Rate Mortgage When You Have Only a Small Down Payment?

Should you search for a low interest rate mortgage? Absolutely. Assuming you are able to qualify for a mortgage from more than one lender, there is no reason to take out a loan with a higher interest rate than you can find elsewhere. If you are concerned that you will have to pay a high mortgage interest rate because you only have a small down payment available, it’s important to understand that there are mortgage programs available to people with many different types of financial circumstances. Your down payment is only one piece of the puzzle. Even if your down payment is relatively small, (e.g. lower than a full 20 percent), It may still be possible for you to find a mortgage with a very competitive fixed interest rate.

How Do I Search for a Low Interest Rate Mortgage? If you know that you are looking to buy a home in a certain price range, and that you have a very specific dollar amount available for a down payment, it’s imperative that you know where to look for a mortgage that will suit your needs and also provide you with a reasonable interest rate. Knowing how to search for a mortgage that meets your financial requirements can be a time consuming process. This is exactly why working with an experienced mortgage broker is always recommended. A mortgage broker with extensive knowledge has undoubtedly helped clients with a financial situation similar to yours, and knows how and where to search for a mortgage that will work for you.

Factors That are Taken Into Consideration by a Lender The dollar amount you have available to allocate to a down payment is not the only factor taken into consideration by a lender. While it’s true that the absolutely lowest interest rate mortgages are usually offered to the most qualified applicants, it’s not unreasonable to believe that a borrower with a small down payment will be destined to pay a high fixed mortgage interest rate for the next 30 years. Lenders take all of the following into consideration:

  • Credit score
  • Debt to income ratio (DTI)
  • Employment history
  • Type of loan
  • Value of the home
  • More…As you can see, quite a bit of information is evaluated before a lender can determine the exact interest rate for which you qualify. If the only potentially negative issue is that your down payment is lower than 20 percent, the interest rate you are able to obtain might be similar to a borrower that has a higher down payment. Keep in mind that if your down payment is lower than 20 percent, your lender will insist that you pay Private Mortgage Insurance (PMI), which will add to your monthly requirement. the good news is that once your equity reaches the 20 percent mark, you may be able to eliminate PMI.For more information on how to find a mortgage with the lowest possible interest rate, give The Home Loan Arranger a call today at 1-877-938-7501!

Steps in the Home Mortgage Refinance Process

If you are thinking about refinancing your mortgage, or you are already in the process of refinancing, it’s a good idea for you to understand the mortgage refinancing process. Knowing what to expect ahead of time is always beneficial and promotes a smooth, easy and successful transaction.

 

Following are some of the basic elements of the mortgage refinance process. For more detailed information, it’s important to work with an experienced mortgage broker who can explain each step to you in full detail as it occurs.

 

Step 1 – Determining if a mortgage refinance is a good decision. If you are able to qualify for a mortgage with a lower interest rate than your current loan offers, a refinance might be an excellent decision. However, a refinance is not necessarily a good choice for every homeowner. Before committing to a mortgage refinance, make sure to run the numbers. In many cases, refinancing to a mortgage with a lower interest rate can save you a significant amount of money every month.

 

Step 2 – Deciding on the type of mortgage for your refinance. When it comes to home mortgages, there are several options. Your existing mortgage might be a 30-year loan with an adjustable rate mortgage, but you might want to refinance into a mortgage with a fixed interest rate and a shorter term. Your mortgage broker should be able to provide you with information on the various available options, and the pros and cons of each. Make sure your decision is made only after you are educated on all of your choices.

 

Step 3 – Completing your mortgage application. After you decide which mortgage option best suits your needs, you will be required to apply for the mortgage. Your mortgage broker will provide you with a list of information and paperwork that you will have to submit along with your application.

 

Step 4 – Waiting for mortgage approval. Once your mortgage application is complete – along with the submission of all required documents – your prospective mortgage lender will take time to review your application. This is called the underwriting phase. After the review is complete, the lender will either approve or deny your loan.

 

Step 5 – Signing closing documents. After you are approved for your new mortgage, a closing date and time will be assigned. During the closing, you will be required to sign several documents.

 

Step 6 – Enjoying your new mortgage. The closing is the last official step in the mortgage refinancing process. Once the loan is closed, you can sit back, relax and enjoy your new loan! Hopefully, your new loan has a lower interest rate which will lower your monthly payment obligation – allowing you to save money each month.

 

For more information about the home mortgage refinance process, call The Home Loan Arranger today at 1-877-938-7501. Free consultations are available to homeowners interested in learning more about low interest rates.

 

How to Decide if You Should Buy a Home Now or Wait a Few More Years?

If you are thinking about buying a home, you might be wondering if now is a good time. Making the decision to purchase a home is something that should not be taken lightly. The process of finding a home and making an offer can be lengthy, so providing yourself with ample time is a good idea. But what might concern you more than thinking about whether or not you should purchase a home is deciding exactly when you should plan to complete the transaction.

Mortgage Interest Rates are Low If you are on the fence about whether you should move forward with purchasing a home now rather than waiting a year or two, make sure to factor mortgage interest rates into your decision. Today’s mortgage interest rates are quite low. With good credit and a sufficient down payment, it’s possible to find a fixed rate mortgage with a very attractive interest rate. Keep in mind that mortgage interest rates are bound to rise in the future.

Inventory of Homes Currently Available If you live in an area with a low inventory of homes for sale, you might not have many opportunities to buy a home that meets your criteria. In many metropolitan areas across the United States, homes are selling very quickly. Therefore, it’s a good idea to get pre-approved for a mortgage and have all of your paperwork in order at all times so you can make an offer as soon as you find a property that you like. You might find a home quickly, or it might take several months to find a home that you want to purchase.

Home Prices are Rising in Many Places In many areas, the price of real estate is continuing to rise. If you are staying out of the housing market because you are waiting for home prices to fall, you might find yourself waiting for a long while. Home prices may never decrease. If prices continue to rise, you might end up being priced out of the market. Remember that with mortgage interest rates at a low level, now might be an opportune time to make an offer on a home.

The Best Time of Year to Buy a Home Are better deals available on homes at the end of summer? Not necessarily. There is never a “perfect” time of year to purchase a home. In other words, it can be impossible to time the real estate market so that you get a good deal on a home and also a low mortgage interest rate. If you are ready to move forward with a home purchase, it’s a good idea to start the process. You may find a home that you want to purchase quickly. A home is a big investment and it’s important to find a property that you truly think you will enjoy owning.

If you are interested in learning more about the home buying process and how to apply for a mortgage, call The Home Loan Arranger today at 1-877-938-7501 to schedule a free consultation.

Refinance Your Mortgage, but Only if It Makes Sense!

With today’s low mortgage interest rates, there are many great reasons to consider refinancing. Many homeowners have already refinanced their mortgage into a lower interest rate loan, and they are now benefiting from a lower monthly payment. If you currently have a mortgage that has a higher interest rate than what is available today, you should absolutely look into refinancing into a lower interest rate option while rates are still low. It may be possible to lower your payment by hundreds of dollars per month.

Refinancing makes sense for many homeowners because there are several benefits to a low fixed interest rate mortgage. But, there are certain situations in which refinancing is not necessarily a good option. Here are a few examples:

You know that you are going to move sometime in the next several months or year. If you are almost certain that you are going to move within a relatively short period of time, it might not make sense to refinance. You may be responsible for paying closing costs, an appraisal, and other fees when you refinance. The total amount of these expenses might make refinancing a poor financial choice if you know you are going to sell your house in the near future. Make sure to take this into consideration before refinancing a mortgage that you know will be paid off when you sell the house in a few month or a year.

You are very close to retirement. If you’ve been paying a 30-year mortgage for 25 years, and you have five years left on your current loan, you might not want to refinance – especially if you are near retirement age. It does not necessarily make sense to refinance a mortgage that is very close to being paid in full. Consider the fact that in a few years, your current mortgage will be paid in full and if you refinance into a new 15-year or 30-year mortgage, you will not own your house free and clear for quite some time.

You may not be able to qualify for a better interest rate mortgage. If your credit score has dropped significantly since the last time you applied for a mortgage or you have an excessive amount of debt that you did not have when you obtained your current mortgage, you might not qualify for a better fixed rate mortgage than your currently have. While there are excellent interest rate options available to many homeowners interested in refinancing, these rates are not available to everyone. If you are interested in refinancing, talk with your mortgage broker and find out if you qualify for a better interest rate before starting the application process.

The goal of The Home Loan Arranger is to help as many homeowners refinance into a low fixed rate mortgage as possible. But if it doesn’t make sense for a homeowner to refinance, there should never be pressure to enter into a financial situation that does not benefit you. For more information, make sure to schedule an appointment with a reputable mortgage broker for expert advice and guidance on whether or not it makes sense to refinance.

 

Do You Have Options After Being Turned Down for a Mortgage?

You want to buy a house, but the last time you applied for a mortgage you were turned down. What are your options? Is there no choice but to give up your dream of homeownership? Not necessarily.

Before you decide that being turned down for a mortgage is a sure sign that you should not be a homeowner, it’s important to understand why you were turned down. Once you know the reason, you might be able to make some changes and re-apply in the future – and achieve a successful outcome. Proper assistance from an experienced mortgage broker might also help you better understand the mortgage application process. The more you know, the better your chances of being approved for a mortgage the next time around!

If you were turned down for a mortgage, make sure to take the following steps before re-applying:

Don’t simply accept the fact that you were turned down without asking questions. In other words, if you were denied, it’s important to find out exactly why. There may be one specific reason, or there might be a combination of several reasons. You owe it to yourself to find out what went wrong. Mortgage lenders deny applications when they think applicants are not good credit risks. Their decision can be based on your credit report and/or credit score, your debt to earnings ratio (DTI), or your inability to come up with a sufficient down payment. Of course, there can be other reasons as well. Knowing specifically why you were denied allows to you remedy the problem before applying again in the future.

If you were denied a mortgage because of your credit score, take the necessary time to repair your credit, and then reapply. You may have one (or more) credit issues that is keeping you from being approved for a mortgage. Some examples include: having too much credit card debt or having an error on your credit report. In regard to having too much debt, you may be able to pay down the debt before reapplying for a mortgage. If there is an error on your credit report, it’s important to have the error corrected – regardless of the status of your mortgage application!

If you applied for a mortgage and were denied for a seemingly insensible reason, it may be possible to obtain a mortgage through a different lender. Did you try just one lender, and then stop after you were denied? It’s always a good idea to shop around and get pre-approved before completing a full mortgage application.

Nobody wants to be turned down for a mortgage. But, it may happen to you at some point. If you are facing a mortgage denial, call The Home Loan Arranger for a free consultation at 1-877-938-7501. It may be possible to get approved for a mortgage even if you were recently denied by another lender.

Tips for Selecting The Best Mortgage for You

There is no such thing as a “one size fits all” mortgage. You may have heard that a 30-year fixed rate mortgage is the best type to have, but this is not necessarily true in all scenarios. Fixed rate mortgages are probably the most common type, but they are not necessarily the best option for all property owners. Every type of mortgage offers its own set of unique advantages, and the best possible choice cannot be selected until several factors are evaluated.

If you are thinking about purchasing a piece of property, it’s important that you schedule a time to talk with an experienced mortgage broker to discuss your options. Your mortgage broker should take time to talk with you about the property you are hoping to purchase, your financial situation, and the length of time you plan to own the property. All of these factors, and others, are important in determining which type of mortgage will make the most sense for you.

Types of Mortgages:

Fixed Rate – The most common fixed rate term mortgages are 15-year, 20-year or 30-year. But, it is possible to find fixed rate mortgages that are shorter or longer in duration. Property owners often choose a fixed rate mortgage because the interest rate on this type of loan cannot change or fluctuate during the entire term of the loan. If you are able to lock in a low interest rate, and interest rates rise at any time in the future, your rate will not increase as long as you have the loan.

Adjustable Rate – A mortgage that does not have locked-in interest rates is often referred to as an adjustable rate mortgage. This type of loan is more risky than a fixed rate mortgage because if/when interest rates go up over the course of time, your monthly mortgage payment requirement can rise significantly. The exact terms of an adjustable rate mortgage are very important. This type of mortgage can be beneficial to a property owner who knows that the property will be sold before the loan’s interest rate is able to adjust.

Besides fixed rate and adjustable rate mortgages, there are other mortgage types that might work well for you. When choosing a mortgage, it’s important to look at your circumstances. How long do you plan to own the property? Do you think mortgage interest rates are likely to go up or down in the near future? Are you willing to take the risk associated with an adjustable rate mortgage?

Your mortgage broker should be able to provide you with ample information about the differences between the various types of available mortgages. Make sure to select a mortgage based on your unique situation. Making the right decision could potentially save you a significant amount of money in the long run.

Is Buying a Home in Cash a Good Idea?

Let’s say you have a large amount of cash on hand, and you’re interested in spending it on a piece of real estate. Should you pay for the property in cash, or should you still consider a mortgage even though you might be able to buy the property in full without a loan?

Many people with enough cash available to buy a piece of property outright still opt for buying it with a mortgage. Why? Because there are several reasons that a mortgage can be advantageous. While an all-cash purchase absolutely has its benefits, there are several pros and cons to buying real estate with and/or without a loan. Therefore, if you are in the position to buy a home in cash, make sure to evaluate all of the positives and negatives before making your final decision on how to complete the purchase.

Things to consider before buying a home in cash:

Sellers often prefer buyers that make an all-cash offer. In today’s real estate market, there are often multiple bids on properties that are listed for sale. It’s in the seller’s best interest to select a buyer that presents a purchase contract that is the least likely to fall through. A buyer that is willing to pay for the property outright without out a mortgage can seem less risky to a seller.

When you buy a house without a mortgage, you own it outright – which means you will not have to make monthly mortgage payments. Some people like the idea of never having to make a mortgage payment. However, if you don’t have a mortgage, it means that quite a bit of money is tied to your house. If you spend all of your available cash on a home, you might not have cash on hand in the event of a financial emergency.

You cannot benefit from a mortgage interest tax deduction if you do not have a mortgage. With all issues related to taxes, you should always consult with a tax professional. However, a mortgage interest tax deduction might save you a significant amount of money each year.

When you purchase a piece of property in cash, you can have peace of mind. If the thought of owning your home free and clear appeals to you, and you can afford it, you might want to go this route. However, when you lock a significant amount of money in a piece of property, you lose the ability to invest that money in other areas. Your property’s value may or may not increase at the same rate as other investment options.

Buying a home in cash is an excellent idea for some people. Obviously you need enough cash available to make such a large purchase. Owning a piece of property without the need for a mortgage is an interesting prospect for those who can afford it. However, buying a house in cash is not necessarily always the most optimal choice – even if you have the funds to complete a purchase in this manner. Make sure to talk with your real estate agent and an experienced mortgage broker before making your decision. You might determine that a low fixed interest rate mortgage is an attractive alternative that should be seriously considered.

Ways a Mortgage Broker Can Help You

Can you apply for a mortgage without the help of a mortgage broker? Yes, you certainly can. But applying for a mortgage on your own may not prove to be the most effective use or your time. Also, you may not be privy to the best possible mortgage options if you don’t use a mortgage broker.

Here are some ways in which a mortgage broker can help you throughout the loan process:

A mortgage broker works with more than one lender – which means your mortgage broker can evaluate loans from several lenders before recommending one to you. When you work with a mortgage broker, your broker should be able to help you shop around for a loan with the best possible interest rate and loan terms. A mortgage broker is aware of the different loans available, and knows which loan might work best for your unique financial situation. Additionally, a mortgage broker might have access to information about available loans that you, as an individual, would not be able to find on your own.

A mortgage broker has the knowledge to give you useful and helpful advice. If you are a first-time homebuyer or if you have not applied for a mortgage in several years, you might not be familiar with the loan application process. When you use a mortgage broker, you should be able to get all of your mortgage-related questions answered quickly and efficiently. Additionally, a mortgage broker should be able to provide you with guidance on the type of loan you should seek.

A mortgage broker will help you determine which pieces of paperwork to submit. When it comes to applying for a mortgage, your lender will require a substantial amount of paperwork to be submitted. Your lender will help you stay organized and will notify you if something is missing. A missing piece of paperwork can cause a loan to fall through – and a mortgage broker can help prevent this from happening.

A mortgage broker is motivated to get your loan closed on schedule. In many cases, if your loan does not close, your mortgage broker does not get paid. Therefore, it’s in the mortgage broker’s best interest to make sure your loan closes on time.

A mortgage broker’s job is to know as much as possible about mortgages. If you want to make an informed decision on which loan will work best for you, a mortgage broker will provide you with practical advice. Essentially, there’s nobody better to ask about mortgages than a professional who works in the industry every single day.

Don’t Buy a House That You Can’t Afford!

It’s not uncommon for people looking to buy a home to find one that is outside of their price range. When house hunting, you will undoubtedly stumble across at least one home that is in the right area of town, but has a higher price tag than you want to pay. Homes that are priced at a level outside of your budget are always tempting. Such homes are usually larger, prettier and decorated in a way that makes you want spend more than you are actually able to afford.

Even if you are pre-qualified for a mortgage that would allow you to stretch your budget, make sure you understand that owning a house will cost you more than your monthly loan payment. Not only does the buying process require you to pay fees that you might not have originally taken into account, but home ownership requires you to pay for upkeep, taxes, homeowners association fees (if applicable), and more.

It’s important to take the entire cost of home ownership into consideration before selecting a home. If the home you want to buy is priced over your original budget, think twice before you sign on the dotted line. If you can barely afford your mortgage payment each month, what will you do if something in your home breaks? What if a catastrophe occurs? Will you have enough cash on hand to pay your homeowners insurance deductable?

Here are some expenses that you should plan for:

Homeowners Association Fees – If you live in a neighborhood that requires monthly, quarterly or yearly homeowners association dues, this is something that you will be obligated to pay.

Repairs – No matter how well you take care of your home, things inside and outside will break or need repair. As a homeowner, it is your responsibility to pay for the upkeep of your home. In order to ensure your home retains its value, it’s important to keep it in good condition.

Property Tax – While your property tax might be collected by your mortgage lender as part of your monthly payment, there is no guarantee that your tax will not rise over the course of time.

Natural Disasters – It’s difficult to find an area of the United States that is not susceptible to at least one type of natural disaster. From hurricanes to hail storms, every homeowner is vulnerable. If you own a home that has a mortgage, you must carry homeowners insurance. However, in the event of a disaster, your policy might require you to pay a significant deductible. Make sure you always have that amount on hand in case of an emergency.

The bottom line is that you should never buy a house that you know you can’t afford. Being “house poor” usually results in a difficult financial situation for homeowners. An experienced mortgage broker should be able to help you evaluate your situation and provide you with advice and guidance on the size mortgage you should be able to afford.