“Marry the House, Date the Rate”: An Interview With Senior Loan Officer Angelo Lefer
With over 20 years of mortgage banking experience, Angelo Lefer offers secure financing for borrowers in residential and commercial properties. As a CMPS Certified Mortgage Planning Specialist, Angelo was voted into the Top 1% of Mortgage Originators in the U.S.
Committed to creating clear, custom strategies for his clients, Angelo is sharing his advice for first-time and seasoned borrowers alike.
How can borrowers best prepare to enter the market? What advice do you have for first-time buyers and current homeowners?
“Please make sure that you have minimal debt, and get pre-approved or credit approved early in the process,” Angelo says. “You want to make sure that we can take care of any issues regarding your credit prior to looking for a home.”
“In addition to credit, it’s important to make sure that you’re fully-employed and not jumping from job to job while looking for a home.”
What makes a credit approval more advantageous than traditional pre-approvals and pre-qualifications?
“A credit approval is the highest form of an approval,” Angelo says. “Many of my clients have successfully had their bid accepted because they were credit approved by me.”
“My underwriter vets out your credit worthiness, and we issue a credit approval. The only conditions are that the house must appraise and the title has to be clean- meaning there can be no liens on the property.”
It seems like the current advice is to “buy now, refinance later.” Do you
agree with that strategy?
“We have a saying in our business: ‘marry the house and date the rate’,” Angelo says. “If you identify a property you like, it’s important to purchase it now.”
“The home is long-term. The rate can always be refinanced later.”
Credit card debt has hit an all-time high at approximately $986 billion. Do homeowners have any options when it comes to consolidating their debt?
“They do. Credit card interest rates are topping 20%,” Angelo says. “Even though mortgage interest rates have increased, a cash out refinance would still be highly beneficial when it comes to reducing credit card interest rates.”
Angelo specializes in Jumbo, FHA, and VA loans, as well as first-time homebuyers and non-warrantable condos. See Angelo’s long-standing reputation for yourself by visiting his page on Zillow:
https://www.zillow.com/lender-profile/angelolefer/ , and give him a call or visit him online for all of your mortgage needs today.
