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.