How to Hire a Reputable Moving Company

You've bought a new home and moving day is here! The truck arrives and the movers begin unloading your boxes and furniture when you realize...some items are missing. And then you notice a grease stain on your favorite chair and your grandmother's mirror is shattered. Suddenly, your dream home is filled with the nightmares associated with an unreliable moving company.

If you are planning on moving this year - the best advice we can give you is to follow these 4 key ways to ensure your experience is a happy one.

1. Start by Doing Some Research

As with any service industry, there are companies that excel at what they do and others that do the bare minimum to get by. There are also companies that stoop to scamming their customers. The most effective way to find the kind of moving company that will treat your belongings with care and respect is to educate yourself. Go online and look at several moving companies. If you find a company that you like but have questions - pick up the phone and call. Make sure you get all of your questions answered before you schedule or make a payment.

• Is their website professional? Does it answer your top questions?
• Do they ask for a deposit or full payment up front? (beware of companies that want to be paid in full before the service is completed)
• Are they clear about what their service includes? What will you need to do/provide?
• Do they display their credentials? Ask for the registration number with the U.S. Department of Transportation
• Is the crew made up of employees or sub-contractors? Do they do background checks?

Spotlight on the Kansas City Office

The Midwest Equity Mortgage - Kansas City office serves the Kansas and Missouri areas. We are available for appointments in office, over the telephone, or in your home or place of business.

Steven Klodzin, Branch Manager – Kansas City

Steven Klodzin

Steven began his career in the mortgage industry in 2005 and has a vast amount of knowledge and experience in several aspects of the mortgage process. During the past decade he spent several years as Vice President for a successful mortgage company and was heavily involved in operations as well as originating loans. Steven’s experience is a key asset to his clients when it comes to getting their loans closed quickly and efficiently. Steve and his wife Jaclyn reside in Lees Summit, MO.

Steven Klodzin oversees all daily operations of our Overland Park office. Steve has extensive mortgage banking experience and has originated hundreds of loans himself. Should you have any questions about your loan application which cannot be answered by your loan officer, or want contact Steve direct for anything, he is available anytime. Steve can be contacted at 913-214-9701.

Meet Our Mortgage Professionals (Click their name to learn more)

[NEWS] Freddie & Fannie to Offer Mortgages Requiring Only 3% Down Payment

CNN Money recently reported that the "3% down payment mortgage" is making a comeback!

"In an effort to open up lending to more low-income and first time home buyers, Fannie Mae and Freddie Mac announced Monday that they will start backing mortgages with down payments of as little as 3% of the home's price." (Source CNNMoney)

Before you get too excited - it's important to realize that borrowers will need to meet strict guidelines to qualify.

How to Repair Your Credit Score

Fact: Poor credit history and a bad credit score can have a serious impact of your life.
No one wants bad credit. Sometimes mistakes happen. Sometimes factors like medical bills, job loss and tragedy influence our financial profile in ways we never could have predicted. Bad credit can happen to anyone.

But now what? If you’re wondering how to repair your credit score, you are not alone. The widespread decline in credit scores has been one of the side effects of the recession but this doesn’t mean that you can’t pro-actively take the steps to start repairing your credit.

Factors that Damage Credit

First let’s clarify what can lower your credit score and damage your credit profile.

• Excessive Debt: If your credit cards are maxed and you have several loans, your debt profile is probably contributing to your low score
• Late Payments: The credit bureaus note any 30, 60, 90 & 120 day payment lates. It is essential that you pay your bills on time.
• Dormant Credit: A dormant credit card is an account that has infrequent or no use. In some cases, if an account has no activity for a period of time, issuers may close the account which revokes future charging privileges. Dormant accounts may not have additional debt but they also don’t help your credit score.
• Collections: If you fail to make a payment or pay off your account – the creditor may send your account to collections. This severely affects your score. Make sure to work closely with your mortgage or credit professional regarding paying off collections. Note: Collections on federal loans such as student loans will prevent you from getting financing from most (if not all) lenders.

Winter-Proofing Your Home the Smart Way

As the temperatures begin to chill, many regions of the country face snow and rain that can wreck havoc on utility bills and your overall home comfort. We have a few questions you should consider when assessing how prepared your home is for cold weather.

Is your home leaking?

The most obvious way to keep your home cozy in winter is to keep the warm air in and the cold air out. 

A leak can present itself in many forms but essentially it allows for the outside air into your home. Examples include:
• Gaps under doors and around windows
• Poor wall insulation
• Gaps around plumbing, wiring, light fixtures and flues
• Un-sealed joints in heating/air conditioning ducts
• Poor insulation between attics/basements and main areas of the house
• Chimneys that cannot be closed

[NEWS] Federal Reserve Study Says It's Getting Easier to Qualify for a Home Mortgage

Yahoo News (Homes Division) reported this morning that buying a home is actually getting easier. They add that if you've gotten turned down for a mortgage in the past few years, now may be a good time to re-apply.

"That’s because, according to Ellie Mae research, in July 2014, 67 percent of all mortgages applied for closed. That’s way up from six months before in January 2014 and also in July 2013, when the rate of mortgages that closed were at just 53 percent at both times." (Source: Yahoo Homes)

According to the president of Ellie Mae, Jonathan Corr - this is due, in part, to lenders easing their qualifying standards.

Yahoo goes on to point out three key reasons the industry is getting more flexible:

How Do Mortgage Interest Rates Work?

Whether it’s a home, auto, business or personal loan – odds are you've had to deal with interest rates. Essentially, the interest rate determines how much it will cost you to borrow money so naturally the higher or lower the interest rate quoted will help determine whether you should agree to the loan. When it comes to home financing, understanding the constantly change interest rate landscape can be confusing. We’re here to help make it easy!

Your Level of Risk Plays a Role

If you've ever seen a mortgage ad – whether on TV or in print – you’ll notice how the company points out low rates in big bold letters. However sometimes that low rate will only be offered to a select group of people – why? When you apply for a home mortgage, the lender will base your rate on your level of risk. If you have a high credit score, lenders will quote you a better (lower) rate. If you have a poor credit score, your level of risk is higher and for the same loan, you might have to pay a higher interest rate.

Spotlight on the Milwaukee Office

The Midwest Equity Mortgage - Milwaukee office serves the entire state of Wisconsin. We are available for appointments in office, over the telephone, or in your home or place of business.

Bill Livesey, Branch Manager – Milwaukee

William (Bill) Livesey

Bill attended the University of Wisconsin-Milwaukee where he graduated with a BA degree in Finance in 1989. He spent 13 years in the Finance and Credit industries, where he held numerous management positions. In early 2004 he transitioned into the Mortgage industry. He spent several years as a Mortgage Consultant, and is currently the Branch Manager of our Brookfield office. Bill’s twenty plus years of experience are a great asset to his customers when finding options to save them money. Bill and his wife Lisa reside in Greenfield, Wisconsin, along with their four children Joseph, Justin, Tyler, and Amanda.

What Does it Mean to Be Mortgage Assured When Buying a Home?

The Mortgage Assured program from Midwest Equity Mortgage is a unique option to give you the power to get the home you want.

How does being Mortgage Assured Appeal to Sellers?

The market has gotten competitive and with the increasing number of cash buyers making offers - it can be hard for a financed offer to compete.



When you're Mortgage Assured with Midwest Equity - you have more than just a Pre-Approval which means you'll look more serious than other financed offers.

How Does Mortgage Loan Underwriting Work?

Whether looking to buy a home or refinance, you will likely apply for a mortgage loan and encounter about the underwriting process. Lenders and loan officers might mention “underwriting” but few home-owners and buyers might actually know exactly what this step is and how it impacts their ability to secure financing.

What is Underwriting?

Underwriting is a process that allows lenders to determine if you qualify for financing based on your level of credit risk. An underwriter is a skilled in-house person who looks at every aspect of your financial profile to determine if its possible and likely that you can repay the debt. The underwriter will consider your mortgage application and verify the information you’ve submitted. This can include verifying with your employer that you are currently working. They may also compare bank statements and tax records to ensure you have substantial income to repay the loan.

Spotlight on the Miami Office

The Midwest Equity Mortgage - Miami office serves South Florida and other areas across the state. We are available for appointments in office, over the telephone, or in your home or place of business.

Phil Engel, Branch Manager

Phil Engel

Phil began his career in mortgage banking by trading mortgage back securities on Wall Street. From there, he represented major Wall Street investment firms like Wells Fargo and Merrill Lynch before transitioning to the retail end of the industry. Phil is proud to be the father of two grown children and a baby grandson.

Phil oversees all daily operations of our Miami Office. As a producing manager, Phil keeps on top of the changing market and is a valuable resource to the office. Should you have any questions about your loan application which cannot be answered by your loan officer, or should you desire to reach out to Phil about anything, he is available anytime. Phil can be contacted at 305-384-1800.

How Long Does the Loan Process Take?

The time it takes to secure a home mortgage will vary based on the TYPE of mortgage, homebuyer/homeowner scenarios and each individual lender’s processing schedule. According to HomeGuides.com – it’s reasonable to assume that a typical home loan will take 4-6 weeks from application to funding. Certain loans may take longer to reach closing.

Complete An Application

A smooth process starts off with a strong start! It will be easier for your mortgage professional to estimate a closing date once you fully complete an application. This is more than just submitting a Form 1003 – you need to also submit income verification (usually two recent pay stubs and the past 2 years’ W-2 or 1099s) along with any additional documentation that you lender may require for your specific situation. Bank statements, proof of down payment funds, purchase agreements and necessary letters of explanation (LOE) may be required to formally complete your application.

5 Benefits to Becoming a Homeowner

Everyone will tell you that there are financial benefits to owning a home but it’s important not to forget other positive reasons that have nothing to do with money.

1 – Security

If you’ve been a renter before, you know that your ‘rights’ are limited and many times the possibility of moving rests on the whim of your landlord. When you buy a home – it puts you in control. As long as you make your payments, you are the master of your castle and that security can help you sleep better at night.

Spotlight on the San Diego Office

Jim Apesso

The Midwest Equity Mortgage - San Diego office serves North, South, and East San Diego County as well as Imperial County and other areas across the state of California. We are available for appointments in office, over the telephone, or in your home or place of business.

Dwayne Kotera, Branch Manager

Dwayne graduated from the University of Dayton where he majored in Business and was also part of the All Atlantic 10 golf team for four years. Dwayne started in the lending industry after a decade of sales and marketing success in the Midwest. He now serves as the Branch Manager of the San Diego office. Dwayne and his wife, Lisa, have two children:

Matthew Dennison

Brayden and Brynn.

Dwayne oversees all daily operations of our San Diego Office. Dwayne has extensive mortgage banking experience and has originated hundreds of loans himself. Should you have any questions about your loan application which cannot be answered by your loan officer, or should you desire to reach out to Dwayne about anything, he is available anytime. Dwayne can be contacted at 619-610-9802.

5 Topics to Discuss with Your Real Estate Agent

You’re ready to buy – but whether this is your first or fourth home purchase – you may find that working with a realtor to be confusing and difficult. Having a clear understanding of what you want and how to communicate that with your real estate agent is critical for success. To keep everything running smoothly – make sure you discuss the following topics with your agent.

1 – Home Size

Knowing how large (or small) you want your next home to be is an important step towards weeding out the homes on the market that don’t meet your needs. It is likely that you will end up visiting empty and occupied homes as you look at what’s available. Your agent should be able to help you understand how square footage impacts the look and feel of each home you visit. If you aren’t sure exactly what size of a home you want – get specific about room sizes. This can help the agent narrow down which homes will best meet your needs.

What is a SmartREFi?

The SmartREFi program from Midwest Equity Mortgage is a unique option to simplify your life by consolidating your consumer debt down to only one payment per month – all while paying off your home sooner and lowering your overall monthly payment.

How does the SmartREFi work?

We refinance your home loan, car loan, student loan and credit card debt into one monthly payment and one low interest rate. 

How Does a Home Appraisal Work?

During most real estate transactions, it will become necessary to have a home appraisal done on the subject property. This formal process of evaluation is the most effective way to determine the current value of a home not only for a buyer and seller but also for the lender who is providing financing for the purchase or refinance. While the concept might not be initially confusing, there are several misconceptions about the industry that can make the process seem complicated. Understanding what the appraiser does and how their evaluation plays a role in your financing can make the transaction easier.

The Purpose of a Home Appraisal

As you may know, home values fluctuate because of a variety of factors including supply, demand and regional influences. A home appraisal is done to determine the current market value of a property. Since this value will be used by the lender to determine equity and loan-to-value, an approved, reliable appraiser must be hired to complete the evaluation. It is important to note that he formal appraisal report that the appraiser files when financing is being sought from FHA, FNMA and Freddie Mac, will be registered with the national database and kept on file for six months.

3 Issues that Can Cause a Pre-Approved Loan to be Declined

Thinking of purchasing a home in the near future? Understanding what a lender is looking for (and avoiding) is key to enjoying a smooth process.

Getting Pre-Approved

A preliminary step to buying a home is getting pre-approved. This process involves an initial submission of your financial picture to your loan officer to see if you initially qualify for financing and obtain an estimate of how much the lender is willing to lend you. Unfortunately, many people believe that once they have been pre-approved for a mortgage – the loan is guaranteed. Nothing could be further from reality. Your loan can be denied by the lender AFTER being pre-approved and it happens often.

Should You Pay Off Your Mortgage?

Few can truly describe the moment in which you are financially free.  Free from debt. Free from living paycheck to paycheck. Free from financial worry. Building a comfortable savings and eliminating debt is possible at any age with smart planning.

According to Forbes.com, it’s easy for people to answer questions like “Do you want to pay off debt?” or “Do you want to save money?” however, deciding whether to pay off your home mortgage becomes more complex. Often this stems from a commonly held belief that paying off your mortgage is impossible or strategically foolish. Let us point out that it is very possible to pay off your mortgage (and not just in a distant 30 years), and when over 75% of those on the Forbes 400 list advocate paying off your home as quickly as possible, it’s viable to look at the reasons why.