MORRIS PLAINS, N.J. – Weichert Financial Services continues to redefine the American dream by providing reliable home-financing solutions.
The mortgage affiliate of Weichert, Realtors®, Weichert Financial Services offers pre-purchase mortgage credit approvals and virtually every type of home financing, including no-money-down loans. Most importantly, Weichert Financial Services provides the personal mortgage counseling it sees as key to ensuring that the buyer’s dream will be a lasting one.
Stephen Adamo, president of Weichert Financial Services, said, “The biggest mistake a home buyer can make is to rush into a mortgage loan solely on the basis of a seemingly low interest rate or monthly payment. As responsible lenders, one of the most critical roles our mortgage representatives have is helping people genuinely understand both the short- and long-term ramifications of their loan options so that they can make an informed decision.”
A Weichert, Realtors sales associate can arrange a meeting with a local Weichert Financial Services representative. This home-financing expert, called a Gold Services Manager, will do an affordability analysis to give buyers a clear picture of their buying power, what their upper limits are, and which mortgage loans would best align with their needs and goals. Buyers may be counseled on how to leverage their purchasing power through gift money, state programs offering extra-low rates for first-time buyers, Fannie Mae programs, and other ways. First-time buyers may be shown how the purchase of a multi-family home, with its rental-income potential, can be an avenue to homeownership.
Prior to their home search, Weichert Financial Services can issue to qualified buyers a Weichert Credit Approval Guarantee that commits to a loan amount, subject to a satisfactory home appraisal. In sharp contrast to Internet-based pre-approvals that fall through nearly 40 percent of the time according to one industry survey, Adamo said that Weichert Financial Services’ credit approvals are “fully verified and underwritten” so that buyers can feel confident about their purchasing power.
The staggering array of mortgages available through Weichert Financial Services all but guarantees that qualified borrowers will find the best fit. Approximately 360 mortgage products are offered, each with different rates, terms, and conditions. The product range runs the gamut: from the traditional, 30-year, fixed-rate loan to alternative financing solutions like the interest-only loan, which can be ideal for someone with uneven monthly income, Adamo said, as long as the borrower fully understands how to use its flexible payment features wisely.
Among the many options attractive to first-time buyers are no-money-down loans. Thanks to favorable tax law changes, single loans covering 100 percent of the purchase price are gaining in popularity. While private mortgage insurance or PMI is generally required by lenders whenever less than 20 percent of the purchase price is put down, beginning with mortgage loans originated after January 1, 2007, PMI is fully deductible on federal income tax returns for buyers with adjusted gross incomes of $100,000 or less. Two-part loans, consisting of both a first and a second, higher-rate mortgage and not requiring PMI, remain popular choices as well.
Weichert Financial Services consistently ranks high in customer satisfaction. Key to its superior service abilities is that Weichert Gold Services Managers are supported behind the scenes by a team of dedicated professionals. Backing them are advanced systems that streamline the processing of mortgage loans and automatically communicate loan status milestones as they happen, to keep customers fully informed.
In addition to providing mortgage financing, Gold Services Managers can also link buyers to Weichert’s many other time-saving, one-stop-shopping conveniences, including homeowners’ insurance, title insurance, and home connections.
Adamo said, “Today’s real estate market offers buyers more home choices, better prices, and interest rates near all-time lows. Helping people realize and safeguard their dreams through intelligent financing choices is our mission and driving passion.”
As reported in the April edition of the industry newsletter “Inside Mortgage Finance,” Weichert Financial Services is one of the “Top 50” lenders in the U.S., based upon sales to Fannie Mae and Freddie Mac in the first quarter of 2007.
Weichert has more than 19,000 sales associates in over 500 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, call Weichert's customer service center at 1-800-USA-SOLD or visit Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.
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