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Start The Pre-approval Home Loan Process

Hello!Thank you for choosing PrimeLending for your home loan.I invite you to start your application by visiting our website at http://www.HEATHRIDDLE.com.To expedite your loan application process, there are certain essential documents that we require. These can be uploaded during the application process or submitted via email in PDF format. Please ensure that the documents provided are accurate and complete, as this aids in processing your application in a timely manner.The documents we require are as follows:W-2 forms for all employment from the past two years for all applicants. Bank statements from the most recent two months for all accounts held by all applicants. (Kindly note that we require all pages, and screenshots will not be accepted.) Pay stubs cover a total of 30 days for all applicants. For properties currently owned, we need your insurance declaration page and invoice, mortgage statement, HOA statement, and most recent property tax records. (If applicable)Current, valid ID for all applicants.Please note that this is a standard list of required documents. Depending on the type of loan or unique circumstances of your application, additional documentation may be requested throughout the loan process. Rest assured, either myself or Delfino will communicate any such needs promptly. We value your trust in PrimeLending and are excited to work with you on this endeavor. Should you have any questions or concerns at any stage, feel free to reach out to us without hesitation.Thank you once again for considering PrimeLending for your home loan needs. We look forward to helping you realize your dreams.Best Regards,Heath RiddleLoan OfficerPrimeLending505-730-7407

Rate Buydown Guide

Understanding Mortgage Rate Buy Downs:Hello everyone! I am Heath Riddle from the Heath Riddle Lending Team, and today I want to talk about a tool that can make buying a home easier and more affordable: Mortgage rate buy-downs.What is a Mortgage Rate Buy Down?A mortgage rate buy down is a strategy used by home buyers to lower the interest rate on their mortgage. By paying what's called "discount points" at closing, you can secure a lower interest rate. This can be funded by the buyer or even by the seller through seller-paid closing costs or credits.Different Types of Buy Downs:Mortgage rate buydowns come in two types: temporary and permanent. Both can be used with most loan types, including conventional loans, FHA loans, VA loans, and USDA loans.Temporary Buy Down:A temporary buy-down is when a lump sum is paid to reduce the interest rate temporarily for the early years of the loan. Two examples are the 2-1 and 3-2-1 buy downs, which lower your interest rate for the first two or three years of your mortgage, respectively. However, keep in mind that you must qualify at the highest rate based on the current market, and you might need to refinance in the future.Permanent Buy Down:A permanent buydown, on the other hand, reduces your interest rate for the entire lifespan of the loan. This gives you a fixed, lower rate and potentially allows you to qualify for a larger loan due to a lower monthly payment. Even though this might prompt a refinance if rates improve, it's worth considering given the stability it provides.Weighing the Pros and Cons:Both types of buy-downs have their benefits and drawbacks. With a temporary buydown, you can get a lower rate for the first few years, and any unused funds can be applied towards a principal reduction on a refinance. However, it's important to maintain your financial stability so that you can refinance when needed.With a permanent buydown, you get a fixed rate for 30 years, which can provide peace of mind. However, you might still want to refinance if rates drop in the future.Making the Most of Buy Downs in Today's Market:In the current market, these buy-downs can be a powerful tool. They can give you negotiating power with sellers and help you afford the house you love. So, I encourage you to consider these options and reach out to me if you have any questions. Thank you for reading, and I look forward to helping you with your home-buying journey!....................................................................................................................................................................................................................Attn: Realtors Buydowns for Open Houses: Do you have an Open House Coming Soon? If so, let's get Buydown options out to potential buyers we can include a presentation like this one with Buydown Options for your Listing and a link to it for you to include in the special remarks

Reviews

"Heath was great to work with! We have had a couple of different transactions with him and he’s been great and helpful every time! Definitely recommend and we would use him again!"

chris garcia

"Heath is very knowledgeable and explains things in a very clear manner. He listens to your need and wants and finds the best route. He is the BEST!"

nicole garcia

"5 stars for Primelending. My lender, Heath, was so patient and supportive. He took the time to explain every step of a very confusing process in a way I that could understand and kept me updated at every turn. I really felt like he had my best interests at heart and genuinely wanted to help me make the best decisions for me. I would 100% recommended Primelending to anyone (ask for Heath)."

paloma lopez