Monday, December 17, 2018

Higher Loan Limits For 2019!

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Higher Loan Limits for 2019!

  • New Base Conforming Loan Limits (Fannie Mae/Freddie Mac) and VA $484,350
 FHA Base Loan Limit Is Now $314,827

  • California Loan Limits Up To $726,525 (County Specific)



If you have any questions please let me know or if you have a client that would like a rate/fee quote on a mortgage scenario I would greatly appreciate the opportunity to offer one!


Bob McCormick, President

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 Toll Free 800-328-0144 

Lending in Arizona and California


"Don't Overpay For Your Mortgage"

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Tuesday, November 6, 2018

Is Your ARM Coming Due? Refinance With No Cost Into A Fixed Rate!

Mortgage Quest
a dba of McCormick Lending Group, Inc.
Is Your ARM Coming Due?  Refinance With No Cost Into A Fixed Rate!

 A lot of mortgages were originated 5-7 years ago with an adjustable rate loan and these loans are coming due or adjusting.  Most of the loans were based on the T-Bill or Libor and the anticipated adjusted rates will be over 5.5% (and still able to adjust afterward).

 You can convert these loans into a Fixed Rate (No Cost Available) at a lower rate!

 If you have any questions or would like a Quick Quote let me know.


Bob McCormick, President

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Toll Free 800-328-0144 

www.McCormickLendingGroup.com
 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"
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Monday, November 5, 2018

How To Save Money With Higher Home Values and Rising Rates

Mortgage Quest
a dba of McCormick Lending Group, Inc.


With Higher Home Values Borrowers Are Able to Utilize Equity And Pay Off Higher Interest Debt Saving $$$

  • Utilize Home Equity and Pay Off High Interest Credit Card Debt
  • How To Eliminate PMI
  • Convert your adjustable rate to a fixed rate
  • Utilize the equity in your home for home repairs/remodeling
  • Combine a first and second mortgage into one loan and Lock in rates

If you have any questions or want to just make sure you are in the best situation feel free to contact me.

As always, I also greatly appreciate your referrals (family, friends, co-workers, etc) that may also have questions.   Thank you!

"Low Overhead + Low Margins = Low Rates"


Bob McCormick, President

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Office  480 905-1135
Toll Free 800-328-0144 
McCormickLending@gmail.com


 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


NMLS 175743 Equal Housing Lender
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Thursday, November 1, 2018

The Difference Between Wholesale and Retail Mortgage Rates

Mortgage Quest
a dba of McCormick Lending Group, Inc.
Wholesale Vs. Retail Mortgage Rates Explained

We work with several banks. mortgage wholesalers and mortgage bankers that allow us to shop rates for our clients.  Being that we do all of the processing for these sources we receive Wholesale Rates which are always discounted from Retail Rates (rates offered from bank branches, direct mortgage lenders, servicers etc.).

There can be a large variance (both positive and negative) between lenders on a daily basis on the Wholesale Rate as they compete for market share.  Thus, being that we have several sources to choose from for our client we always have aggressive rate options.

Once we close a loan for our client the loan is then serviced by the bank, lender or servicing company.  At times they have a Retail division that may solicit the client or make it seem that they can streamline the mortgage process as they currently have the loan in their servicing department.  But, with any new loan the process has to start over from the beginning.  It is also important to note that they only offer a Retail Rate and not the Wholesale Rate at that point.

Generally, the difference between a Wholesale conforming 30-year fixed-rate is .25% lower than a Retail rate and up to .50% lower on an FHA or VA loan. Over the life of the loan that equates to a large amount of savings for our clients.

Click Here For More Information 


Bob McCormick, President

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Toll Free 800-328-0144 

www.McCormickLendingGroup.com
 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

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Wednesday, October 31, 2018

Freddie Mac Home Possible 100% and FHA 100% Mortgages with Down Payment Assistance

Mortgage Quest
a dba of McCormick Lending Group, Inc.
We are now offering the Freddie Mac Home Possible 100% and FHA 100% mortgages with Down Payment Assistance, which are zero down payment options that serve the needs of first-time homebuyers.   We are also able to utilize our aggressive pricing model on both programs!



Bob McCormick, President

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Toll Free 800-328-0144 

www.McCormickLendingGroup.com
 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender
at

Wednesday, October 24, 2018

No Income Verification Program For Rental Properties

Mortgage Quest

a dba of McCormick Lending Group, Inc

No Income Verification Program For Rental Properties


*This loan allows our borrowers to qualify only using the market rents on the appraisal.  If this amount is greater than the proposed mortgage payment the loan is qualified. No Tax Returns Needed!

 For More Information 


Bob McCormick, President

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Call Toll Free 800 328-0144 or
Email  McCormicklending@gmail.com

Bob McCormick, President


Lending in Arizona and California 

nmls 175743 azmb 0903631  cadbo 603J043 Equal Housing Lender
at

Wednesday, August 8, 2018

Freddie Mac Home One- Low Downpayment Loan


Mortgage Quest
a dba of McCormick Lending Group, Inc.

We are now offering the Freddie Mac HomeOne mortgage, which is a low down payment option that serves the needs of first time homebuyers and high LTV rate and term refinance. 

 Highlights are described below.

Mortgage Features:
  • 95.01-97% LTV
  • Primary Residence Only
  • Purchase and Rate and Term Refinances
  • No borrower geographic or income limits
  • At least one borrower must be a first-time homebuyer
  • Homebuyer education for purchase transactions when ALL borrowers are first-time homebuyers
  • Standard 35% MI coverage required for LTV’s >95%


Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com
 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender
at

Sunday, July 29, 2018

Conventional, Portfolio and Private Loan Programs Offered

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Having worked for a few of the large banks and mortgage banking firms prior to starting Mortgage Quest in May 2000, I learned how and why these mortgage companies need to mark-up their rates that are offered to the public: large overhead expenses including office salaries, commissions, large rent/office space, several layers of management, extra quality control costs due to large staffing, etc.

Mortgage Quest was established with a business model that has reduced these large expenses so that our operating margins are the lowest in the industry and the need to mark-up interest rates was eliminated:

By being the sole-owner/ loan originator for Mortgage Quest our pricing model is the lowest in the industry. Generally saving our clients up to .25% - .50% or more on their rate versus the competition with the same or lower fees!

Programs Offered:

  • Conventional Conforming Loans (Fannie Mae/Freddie Mac)
  • FHA/VA/USDA Loans (Down to 550+ Fico)
  • Jumbo Loans up to 95% Ltv, Interest Only and up to $3,000,000
  • Bridge Loans for Purchasing a New Home
  • Portfolio Lending (Non-Fannie Mae or Freddie Mac)
  • Commercial and Multi-Family Financing (Non- Bank Commercial Underwriting)
  • Land/Lot
  • Construction and Rehab Loans
  • Reverse Mortgages
  • Subprime and Private "Hard Money" Loans


Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender
at

Wednesday, May 16, 2018

A Few Of The Benefits That We Offer Our Clients!


Mortgage Quest

a dba of McCormick Lending Group, Inc

A Reminder On A Few Benefits That We Offer:


*As the owner I personally control our pricing model.  This enables us to offer market leading rates, generally .25-.50% lower than the competition! (with same or lower fees)

*We hedge our lenders and investors so we are able to lock in the rate upfront to be safe, but we can float down the rate for FREE if rates improve throughout the process enabling our clients to obtain the best rate possible!

*We offer In-House Bridge Loans for clients who want to purchase prior to selling their current home!

I am always available to help answer any questions and your referrals are greatly appreciated!


Bob McCormick, President

 Loading

Call Toll Free 800 328-0144 or
Email  McCormicklending@gmail.com

Bob McCormick, President

Lending in Arizona and California 

nmls 175743 azmb 0903631  cadbo 603J043 Equal Housing Lender
at

Tuesday, April 17, 2018

Introducing: The Conventional 1% Downpayment Program

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Introducing: The Conventional 1% Downpayment Program


  • Borrower is only responsible for 1% down payment (Lender contributes other 2%)
  • No Income Limits
  • No PMI available
  • 700 Fico and 43% maximum debt to income ratio

Contact me for more information:
Bob McCormick, President

 Loading
 Toll Free 800-328-0144 



 "Don't Overpay For Your Mortgage"
Lending in Arizona and California



mb0903631 nmls175743 nmls179756 Cadoc603J043
at

Thursday, March 29, 2018

How We Can Offer Our Clients .25%-.50% Lower Rates Than The Competition (With The Same Or Lower Fees)!

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Having worked for a few of the large banks and mortgage banking firms prior to starting Mortgage Quest in May 2000, I learned how and why these mortgage companies need to mark-up their rates that are offered to the public: large overhead expenses including office salaries, commissions, large rent/office space, several layers of management, extra quality control costs due to large staffing, etc.

Mortgage Quest was established with a business model that has reduced these large expenses so that our operating margins are the lowest in the industry and the need to mark-up interest rates was eliminated:

By being the sole-owner/ loan originator for Mortgage Quest our pricing model is the lowest in the industry. Generally saving our clients up to .25% - .50% or more on their rate versus the competition with the same or lower fees!




Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender
at

Wednesday, March 28, 2018

With Rising Rates There Is No Need To Worry About When To Lock Your Rate!

Mortgage Quest
a dba of McCormick Lending Group, Inc.
Low Overhead + Low Margins = Low Rates

With Rising Rates There Is No Need To Worry About When To Lock Your Rate!
We offer the most flexible lock policy in the industry!
  We are able to lock the rate at the time of application and relock again if rates improve for FREE (unlimited relocks)!  This protects our clients from rising rates and allows them to obtain the best rate possible at closing.
If you have any  questions please let me know or if you have a client that would like a rate/fee quote on a mortgage scenario I would greatly appreciate the opportunity to offer one.
Contact me with any questions or scenarios 

Bob McCormick, President

 Loading

Toll Free 800-328-0144 
Email   McCormickLending@gmail.com

 Lending in Arizona and California 
"Don't Overpay For Your Mortgage!"

mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender
at

Monday, January 29, 2018

Highlights of our Doctor Loan Program


Mortgage Quest
a dba of McCormick Lending Group, Inc.

Highlights of our Doctor Loan Program

*Must have a medical designation of: Medical Resident, MD, DPM, DO, DDS, DMD or OD

 *Purchases and Refinances Eligible Up to 95% LTV

 *Deferred Student Loans Can Be Omitted From Qualifying

 *Income From Future Employment May Be Used

 *Minimum 680 Fico Score

 *Loan Amounts to $453,100

 *No Private Mortgage Insurance 


Contact me with any questions or scenarios 

Bob McCormick, President

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Toll Free 800-328-0144 

Visit Us Here

 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


mb0903631 nmls175743 nmls179756 Cadoc603J043
at

Thursday, January 25, 2018

Highlights of our 95% ltv Jumbo Loan to $1,000,000


Mortgage Quest
a dba of McCormick Lending Group, Inc.


Highlights of our 95% ltv Jumbo Loan to $1,000,000

  *Up to 95% LTV
*90% LTV at 680 FICO

  *2 - 4 Multi-Family properties are eligible

  *Up to $1,000,000 loan amount

 *Gift funds allowed with at least 5% borrower contribution from own funds 

 *First time homebuyers permitted

 * Private Mortgage Insurance can be waived


Contact me with any questions or scenarios 

Bob McCormick, President

 Loading

Toll Free 800-328-0144 

Visit Us Here

 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


mb0903631 nmls175743 nmls179756 Cadoc603J043
at

Bridge Loans Available (purchase before selling and eliminate contingency)

Mortgage Quest
a dba of McCormick Lending Group, Inc.



We offer In-House Bridge Loans for borrowers who want to purchase a new property prior to selling their current property.  Great rates, flexible terms and no upfront cost or monthly payment options available!  

Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona, California and Colorado

"Don't Overpay For Your Mortgage"



mb0903631 nmls175743 nmls179756 Cadoc603J043

at

In-House Bridge Loans Available (purchase before selling and remove contingency)

Mortgage Quest a dba of McCormick Lending Group, Inc. We offer In-House Bridge Loans for borrowers who want to purchase a new pro...