Tips for the First Time Homebuyer

Are you ready to become a home owner? Have no idea where to start? What should you do first? Should you get a realtor first? Should you get pre-qualified?? How much money do you need to put down?? SO MANY QUESTIONS.....

Where to start? Let's take it step by step:

1. See how much you can afford! Get pre-qualified by a mortgage professional Caroline Farmer at Kwest Mortgage Group. Submitting a prospective application only takes a few minutes over the phone.  The loan officer will need to get some personal information for you - Social Security Number, birthday, current address, income information, etc. We will then pull credit and let you know the amount that you can qualify for. At this point you are ready to talk with a realtor (don't have one? no problem! I know some great ones!!)

2. Get a realtor. Like I mentioned earlier, I would be happy to hook you up with someone awesome (honest, understand, etc). You can be upfront with your realtor on what you can afford. If you need a pre-approval letter, I can do one of those for you as well. Once your realtor helps you find your perfect home, they will assist you in making an offer. Once your offer is accepted, your loan officer will work with you to start processing your loan. 

3. Mortgage Approval Process. During this process, we will collect different types of documentation to submit with your loan. This piece can be tedious, but time is of the essence! It is important to work fast to obtain the required documentation for approval! Once your loan is submitted, there may be conditions that need to be cleared before closing. Again, time is of the essence. 

4. Closing. Yeah!! We made it! This is a great day for everyone involved. We can all meet at a your chosen respectable attorney's office and go through more paperwork!!! 

Closing a purchase transaction can be stressful and complicated at times. Working with a qualified mortgage company Kwest Mortgage Group can reduce this stress and make you feel at ease during this important time in your life! Please contact me if you ever need help with your home financing!!


Happy Spring! Happy House Hunting!!

A little piece of my inspiration

I have been waiting to blog about this for quite some time now, but wanted a sassy recent picture to post with it. Which I now have.....

Meet one of my best friends - Maggie Aiken. I am super lucky to have her as such a great friend and we are both lucky so share so many friends. We have a great group of girlfriends from Clemson. Fortunately, we have all done a really good job of not letting life get in the way and lose touch. I wish I had enough time and room on this blog to post about each one of them. They are very all very special to me. Instead, here is a few shots of "the crew" -

 

 

 

Now, you may be wondering why I would chose one of my special friends to write a blog post about. Mags played an important part in helping me find the courage to pursue my dreams of being a mortgage lender. Maggie and I have a lot in common in the career department. We both found awesome jobs with great companies right out of college. A lot of our peers struggled with finding stable jobs in the weak economy. We were lucky. Near the end of last year, Maggie sent me an email saying that she was leaving her job to become a Realtor with Prudential C Dan Joyner in Greenville. Whoa - Maggie, scary move. Of coarse, she was optimistic and encouraging and sure of herself. That is how Maggie is. She is one of my "healthy friends" (i am not referring to physically healthy, although she is that too). She is one of the people that bring nothing but joy into your life. She is a good Christian woman. She has supported me during the rough times in my life and celebrated with me during the happy times. She is someone that I know I can count on.

Back to the point, the first person that I talked to after talking to Rodney about joining Kwest Mortgage was Maggie. She was really the only friend my age that could relate to the fears/excitement that I was feeling about taking this on. She of coarse encouraged me to do what I wanted and continues to do so. She knew and could relate to the frustrations I was feeling in my life while working my former job. She pushed me to not waste anytime on getting started. I am so thankful that I have a friend that pushes me to be my best.

So I just wanted to post a quick little something on a good friend and a piece of my inspiration. Maggie really is the up and coming premier Realtor in the Upstate market. If you are looking to make any real estate moves in the upstate, I encourage you to reach out to Maggie. I can 100% assure you that she will take care of you. She is a Greenville native and a Clemson graduate with a background in marketing and a passion for real estate. She would love the opportunity to help you with any of your real estate needs. If you want to see details on Maggie, please click here. While you are at it, you should probably "like" her facebook fan page.

Personally, I am proud of Maggie and her accomplishments. She has been a wonderful friend for many years and now serves as one of my top encouragers. I look forward to watching her excel in her career and having the chance to work with her directly!!

 

Friends are an indispensable part of a meaningful life. They are the ones who share our burdens and multiply our blessings. A true friend sticks by us in our joys and sorrows. In good times and bad, we need friends who will pray for us, listen to us, and lend a comforting hand and an understanding ear when needed.

Beverly LaHaye

Want to improve your credit score?

Improve your credit score!

 

 

I have a great/intelligent manager/mentor. I think everyone who knows my situation knows that. Of coarse, like all others in mortgage, we talk to potential borrowers struggling with their credit scores. I have learned that with some advice and a few tips, these borrowers can raise their credit score much quicker than I originally thought. I now realize that someone with a not-so-fabulous FICO score doesn't have to be turned down and asked to "come back in six months or a year" without any guidance. I have learned how to read and analyze a credit score and pick out pieces to advise the borrower on how to get improve their score so that they can be approved for their mortgage loans at better interest rates. I have seen Rodney work with a number of borrowers and I have had the opportunity to work with some myself. It is a very rewarding experience!!

 

I thought I may share some of these tips with my readers. I know it isn't the most exciting topic, but it is SO important!

 

You have 3 different credit scores, one for each of the major credit bureaus: Equifax, TransUnion, and Experian. Mortgage lenders pull all three. These scores can differ from each other depending on how your creditors report to the bureaus. You definitely want to make sure that when you are doing the right things to improve your credit - that your creditor is reporting to all the bureaus!! This isn't something that you can control, but it is something that you can inquire about when you open credit accounts.

 

So, how does one improve a credit score?

1. Make sure that you know what is on your credit score. You are entitled to one free copy per year from each bureau. The only authorized online source for a free credit report is www.annualcreditreport.com. Look for misreported delinquencies, over-reported loan amounts, and under reported credit limits. Be sure to request correction from the bureaus in writing.

 

2. Pay your bills, ON TIME! If you have trouble doing this, set up payment reminders or have payments automatically deducted.

 

3. Focus on paying off those credit cards. Paying down your revolving accounts will have a much larger impact than paying off your installment loans.

 

4. Use your credit cards, but don't max them out. A good rule of thumb is to not have a balance more than 30% of your credit limit.

 

5. Don't apply for a lot of different credit at one time. Credit pulls affect your credit score, so don't go shopping for a car, home loan, new furniture, new department store card, etc. at one time.

 

Here is a great resource: http://www.consumer.ftc.gov/articles/0155-free-credit-reports

 

 

 

 

 

What does XCO mean?

 

I have heard this question countless times in the past few weeks - What does XCO mean?

Two and a half months ago, I had no idea either. Now, I feel so appreciative and proud of myself to be able to put those three letters behind my name.

XINNIX Certified Originator (XCO)

This professional designation is held by less than 1/2 of 1% of Loan Officers nationally.

Earning this exclusive designation require successful completion of a comprehensive, proctored knowledge and skills based exam, combined with a strict personal pledge to ethical customer service standards.

The XCO designation is designed to instill confidence in your most important referral partners, clients and industry peers. Clients will enjoy professional, skilled and valuable financial advice not always found in the mortgage industry.

The XINNIX Certified Originator (XCO) designation signifies your mastery of essential knowledge, skills and disciplines critical to achieving the highest level of personal success in mortgage sales.

Comprehensive Industry Knowledge:
XINNIX Certified Originators must prove their in-depth knowledge of the mortgage business, including loan programs ranging from conventional to FNMA, FHLMC, FHA & VA, subordinate financing, the loan application process, sales contracts, good faith estimates, rate locks, automated underwriting, compliance, appraisals, refinances, the closing process, and much more.

Code of Professional Ethics:
The XCO Designation signifies exceptional industry knowledge and a commitment to ethical selling practices. No other Loan Officer certification is more comprehensive, respected or proven.


What did I have to do to earn my XCO certification?

Gound School - Self Study - Essential New Loan Officer Knowledge

A comprehensive correspondent study course.
Self-paced learning for maximum flexibility.
Dedicated mentor to ensure success.
55 Individual Lessons
55 Online Quizzes
10 Online Tests
1 Online Exam

Flight School - Blended Learning - Advanced New Loan Officer Development

A structured blended learning program.
Recorded online classes for enhanced learning.
In-branch assignments with accountability.

21 Individual Lessons
25 Case Studies
19 Key Assignments
1 Final Exam

Currently, I embark on my Officer School Journey!! This will include Specialized New Loan Officer Sales Training (the part that I am MOST excited for!!!)

A proven 3-2-1 process for origination
Live online instructor led classes
Daily accountability to XINNIX required

4 Critical Sales Lessons
12 Valuable Business Tools
16 Weekly Prospecting Activities
1 Completed Business Plan
It will be the end of the year before I complete my XINNIX courses, but I am happy to have Ground school and Flight school behind me. This has given me such an advantage over other new comers into the industry. It has been a lot of hard work and countless hours of studying, but so worth it!! I will keep your posted on my Officer School progress!!



What do you want to be when you grow up?

As a child, you are constantly asked, what do you want to be when you grow up? It is fun to talk about when you are a kid. Here is a timeline of my answers growing up - I wish my wonderful mother was here to help me with this list:

Ages 3/4: After I was old enough to help my grandmother in the kitchen, I wanted to be a baker

Ages 5/6: Zoo Keeper

Ages 7-11: Point guard in the WNBA

Ages 12 - 15: Banker (I really wanted to wear a suite everyday and carry a briefcase. Funny, now I try to avoid wearing a suite at all costs)

Age 16 - Present : Mortgage Loan Officer

People don't believe me when I tell them that I have always wanted to be a Mortgage Lender. Why would they? Who grows up with that career in mind? I have been lucky with all of my jobs. When I was 16 years old, I started working as a teller at what was then Orangeburg National Bank. I loved it. I felt important. All of my friends were summer nannys and lifeguards (super tan). Not me, I was getting dressed up everyday and learning the banking industry. In my mind, I was pretty much a Vice President and almost to suite status. During my first summer as a teller, I decided that I wanted to study finance and be a lender. Lending interested me the most in banking. My parents then sold our house and went through the loan process for our home in St. Matthews - yes, Mortgage Lending was exactly what I wanted to do. I decided to take all my finance electives in RE. It was interesting.

I really didn't have solid plans for my career my senior year before graduating from Clemson. I knew Justin and I wanted to stay together, but I didn't know he would propose as early as he did! Wow, there were a lot of decisions to be made. Then, my mom was diagnosed with cancer - decision easy: we were coming home. I helped her with The Cannon Company for a few months (something I said I would NEVER do growing up). I absolutely 100% knew that is not what I wanted to do for the rest of my life. I started calling around to the local banks looking for something/anything. Nothing available around here if you want to lend....:-(. We have something in HR that you might like. OK? I guess I will try it. I have to do something....I am getting married in a couple of months! I did like it! I worked with wonderful people. As my personal life finally started to settle down after several years of hardship, I started taking a look at myself. I had been so focused on others since I graduated from college. I had not taken a look at my life and what made me happy. Time is moving quick. I liked my job, but I didn't want it forever......

It is amazing to see God work in your life and how everything fits into his timeline for you. I struggle daily with letting go of worries and control and giving it all to him. He has proven time and time again that he will take care of me.

Here I am, a licensed Mortgage Lender at Kwest Mortgage. I have a long way to go to make a name for myself in this industry, but that is exactly what I plan to do. I am giving 110% to this opportunity.

 

If you have any suggestions for me on "how to make it" please email me or leave a comment! I am sincerely interested to hear your thoughts!!

Rookie Blogger

I have a dear friend who constantly talks about the blogs that she follows. For years, I have listened to her tell me about projects, craft ideas, people battling different illnesses, etc and I have always given her a hard time about it. How does she have time to follow this stuff? After many conversations on the topic, I realize that she sincerely enjoys it. I guess you could say that it is one of her hobbies, kind of like my Sunday afternoon loaf session with a SVU marathon on USA. She loves keeping up with families going through difficult life issues and actually feels like she knows these people. She gets emotionally involved with these families. Actually, we have prayed for one of her blog families during our bible study.

I have really upped my game on Social Networking in the last few months. I have always had a facebook and checked it every couple of days. As I embarked on my journey into the Mortgage Industry, I started paying attention to how valuable my network of people could be. As Rodney posted information about me on the Kwest Mortgage facebook page, I was overwhelmed by the positive responses his posts recieved. It was exciting to get on and see how many people "liked" my posts or how many new fan page "likes" we recieved. I also realized how my LinkedIn page was lacking. During my Xinnix schooling (which I will definitely post on in the future), one of our assignments was to beef up our LinkedIn page. I learned some extremely valuable ways to market myself professionally. I am still trying to learn twitter. Kwest has an account, but I am not so sure that I understand the #hashtags (would you write that #stilldontunderstand?)

Some questions that I have recieved in the recent weeks of putting myself out in the market:

"Are you sure you want to enter the mortgage industry in THIS economy??"
"Is there any money to be made in the Orangeburg market?"

Is my life so exciting that I need to start a blog because of all the spectacular things going on? Simple answer, not at all. If you are interested in seeing how the "new girl on the block" is going to prove the answer is YES to the above questions, keep checking back here! You will always see me making a sales pitch on other forms of social networking. On this blog, I plan to "keep it real." I look forward to sharing my journey with you!!

Oh, and one other thing, I plan to post often about one of my favorite things in this entire world --

RUE SMOAK FARMER (will post in detail about this brown angel at a different time!)