Full-service mortgage lender providing a wide range of residential lending products. Licensed in VA, DC, MD, and WV.
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Great Homebuying TIps from #ACMLending
Happy #ProTipTuesday! There are many mortgage products on the market several but the main two types of home loans are Fixed-Rate Mortgages, and Adjustable-Rate Mortgages (ARMs). Here are 3 simple reasons to choose a Fixed-Rate Mortgage
⬇️ When rates are noticeably lower than usual — With a fixed-rate, the interest rate is set when you take out the loan and will not change. When the market is offering rates that are considerably lower than at least the last two years, it may be a great time to consider purchasing a home. A 1% interest rate increase may cost you thousands of dollars over the life of a loan.
🚚 If you have no plans to move — If the home you are purchasing or refinancing is one you plan to own for five years or more, a fixed-rate mortgage provides you with interest rate stability. This allows you the option of refinancing when it makes the most financial sense for you instead of an adjustable-rate mortgage(ARM) set time period wherein rates may be higher than you initially qualified for.
🔮 When you want a more predictable monthly mortgage payment — A big advantage to a fixed-rate mortgage is that borrowers are protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. While the amount of principal and interest paid each month may vary from payment to payment, the total payment remains the same. This can make budgeting easier for homeowners.
At ACM we are proud to help our borrowers make their next move, their best move — You’ll receive mortgage options tailored specifically to your needs and long-term home goals. Reach out today and get started with our simple, easy, stress-free process to help you find the best mortgage opportunity for you. www.acmllc.com/get-started
Tan was great to work with! As a visual learner, I loved the interactive platform he uses that allowed me to easily compare rates. He was straightforward and communicated well. Even when we hit a hiccup in the closing process due to an error in the paperwork, his office handled the situation promptly and we were able to settle the following day. Thank you, Tan!
socialsurvey.me Click to see all 51 reviews of Tan Tunador, Loan Officer | NMLS# 1166669
Everything! The welcome video, to his efficient team, to the knowledge he gave us. Would choose Tan and his team all over again any day!
socialsurvey.me Click to see all 49 reviews of Tan Tunador, Loan Officer | NMLS# 1166669
Good people gathered and enjoyed some excellent food at our annual Thanksgiving Lunch.
Thank you to everyone we have had the good fortune to meet, get to know and do business with in the past year.
Present and accounted for were; Barbara Bennison, Rachael Remuzzi, JoAnn Hoovler, Jackie Wynn of Virginia Fine Living Jackie Wynn Realtor, Paula Owens, McEnearney Associates, Tan Tunador at Atlantic Coast Mortgage, McEnearney Leesburg Broker Candice Bower - McEnearney Associates and our very own Danielle Moseley.
A wonderful time was had by all.
A VA Interest Rate Reduction Loan (IRRL) is a streamline low-cost, low-documentation home loan refinance for Veterans to potentially lower their mortgage interest rate and save money.Check out the online Total Cost Analysis in detail here: https://mcedge.tv/1co6mx
mortgagenewsdaily.com You may have heard that the Federal Reserve is highly likely to cut rates this week. That is true. It's happening tomorrow. It would be a big surprise for financial markets if the Fed did NOT cut rates at this point. You may be wondering if this means anything...
Free online Financial Dashboard to help homeowners manage what is likely their largest financial asset - their home.
This free service will monitor your home's value, equity and mortgage showing you how to save money paying down your mortgage faster and alert you when refinance opportunities are available.
get.homebot.ai Homebot is a monthly financial dashboard that enables you to maximize the wealth from the single largest asset you will ever own.
Here to Guide You Home. www.TanTunador.com
How can a buyer's financing terms benefit both the buyer and the seller at the same time? Great but frequently forgotten strategy to help a seller get more money for their house AND at the same time help a buyer save money
How can a credit score affect the cost (or savings!) of a mortgage
Chrissie speaks with Tan Tunador at Atlantic Coast Mortgage, LLC about the impact your credit score will have on your mortgage lending rate. They compare the monthly, 5 year and 15 year savings on a 750 score versus a 700 or a 650 credit score. He then talks about ways you can improve your credit score today, and gives some helpful advice for teenagers and young adults on the importance of starting a positive credit history as easly as possible.
Atlantic Coast Market Update - Exciting New Niche
Another exciting week! Rates are low, buyers are writing contracts, sellers are accepting offers and we are having fun! Breaking news on our end, we had a plethora or new, unique financing programs released this week including:
• 100% Financing with No Mortgage Insurance up to loan amounts of $484,350 and 1% down payment loans available for loan amounts up to $726,525 (see flyer attached and below)
• Bank Statement Programs where self-employed buyers can qualify from banks statement income instead of tax returns
• Foreign National Programs – no citizenship or Green Card required
• No Income Asset Qualifier Programs – buyers can qualify based on asset and not income – great for retirees
• Various Non-Prime Programs for buyers with recent credit issues – 1-day out of foreclosure, bankruptcy, short sale OK
And now for the news…
Housing Starts fell below consensus, Pending Homes Sales met expectations, and New Home Sales beat forecasts this week. Additionally, economic data was mixed with Personal Income rising less than anticipated while Inflation readings remained in check and Jobless Claims declined. Even though rates are sitting at their lowest levels in over a year, and most loan programs closed the week the same as last Friday, some day-to-day rate volatility has emerged making it risky for consumers choosing to float their interest rates.
Next week’s economic reporting calendar is heavier with the release of Retail Sales on Monday and the monthly Employment Report on Friday. After another failed Brexit vote developments with Britain’s departure plans from the EU will be closely monitored for any potential impact on rates as well. Spring is in full swing with the MBA reporting a nearly 9% jump in week-over-week mortgage applications. Be sure to get your clients fully pre-approved in advance of finding them the ideal home so they are in position to make their most competitive offer!
If you need a quick rate quote over the weekend please contact me or Lori, we are available all weekend to assist you and your clients.
Atlantic Coast Mortgage Weekend Update:
This week the ADP Payroll Report fell short of projections and the February Jobs report on Friday came in dramatically below expectations with only 20,000 new jobs last month versus the 175,000 predicted. The European Central Bank (ECB) also announced it will not raise rates for at least several months and possibly not at all in 2019. These readings and news helped Mortgage rates hold their position at the most favorable levels in a year with some loan program even managing to improve slightly.
Next week we will monitor Retail Sales on Monday, the Consumer Price Index (CPI – a monthly measure of inflation) on Tuesday, and the ongoing US/China trade talks. The Spring Market is officially here as we head into mid-March and inventory continues to be an issue across all jurisdictions. Encourage your clients to get approved as early as possible enabling them to write more competitive contracts with shorter contingencies.
Atlantic Coast Mortgage Weekend Update
bloomberg.com Federal Reserve Chairman Jerome Powell repeated the central bank’s recent mantra of pledging patience in the face of conflicting economic signals and subdued inflation.
Weekend Market Update - January 26, 2019
cnbc.com Stocks rose on Friday as investors looked past a poor Intel earnings report, instead focusing on a deal to temporarily reopen the government.
Weekend Market Update - January 19, 2019
Interest rates felt upward pressure this week for the first time in 2019 on the heels of several domestic and global economic factors. Additional inflation reporting showed it’s still operating within a healthy range, manufacturing data was mixed, and in the UK a Brexit vote failed to pass Parliament. Also, trade talks with China appeared to take a positive turn as China has reportedly offered to purchase over $1 Trillion in US goods over the next six-year period. Stocks finished out the week with solid gains but rates that still sit near 9-month lows for homebuyers.
Next week markets will be closed Monday in observance of MLK Day followed by the release of Existing Home Sales on Tuesday, the next European Central Bank meeting Thursday and New Home Sales figures Friday. While the Mortgage Bankers Association reported an increase in applications, various Federal Reserve officials reiterated this week a less aggressive approach to rate hikes in 2019 as we near the Spring Market. https://www.cnbc.com/2019/01/18/feds-williams-calls-for-patience-and-good-judgment-before-raising-rates.html?__source=mnd%7Cnews%7C&par=mnd
cnbc.com Williams reiterates recent calls from other Fed officials that suggest a less aggressive approach to rate hikes in 2019.
Weekend Market Update - January 12
The first full trading week of 2019 brought about less volatility than experienced in previous weeks. Minutes released Wednesday from the Fed’s December meeting contained no surprises and supported Chairman Powell’s comments last week that our Central Bank is open to slowing the pace of monetary tightening policies. Inflation readings released Friday matched expectations and evidenced core inflation appears to be in control, further supporting the Federal Reserve’s ability to be patient with potential future rate increases. https://www.reuters.com/article/us-usa-economy/u-s-consumer-prices-post-first-drop-in-nine-months-on-gasoline-idUSKCN1P51IJ
With the government shutdown still ongoing it’s important to advise your buyers to get fully pre-approved in advance of house hunting and to work with a lender that can process and close their loan without delay. It’s equally advisable to thoroughly vet out any offers with financing in place on your listings to ensure you can properly advise your selling clients. If a borrower is using tax return income to qualify ACM can work with them for Approval as well as with furloughed Federal employees. New USDA originations are still on hold during the shutdown but we are offering both FHA and VA financing without disruption so our clients can take advantage of this improved rate environment.
reuters.com U.S. consumer prices fell for the first time in nine months in December amid a p...
Weekend Market Update - January 4th 2019
Stocks started out the new year continuing to decline caused primarily by Investors’ concerns over the government shutdown, ongoing trade tensions and a global slowing in economic growth. Interest rate volatility remains as conflicting information comes to market with weaker than expected manufacturing data and higher jobless claims released earlier this week before Friday’s Employment Report crushed expectations by adding a massive 312,000 jobs. Federal Reserve Chairman Powell also spoke Friday and delivered a more dovish tone than last month confirming their interest rate policy in 2019 will be flexible leaving the door open for less hikes than forecasted. https://www.cnbc.com/2019/01/04/feds-mester-says-if-inflation-doesnt-rise-fed-could-stop-hikes.html?__source=mnd%7Cnews%7C&par=mnd
Most domestic economic readings show the U.S. economy is still growing while globally there is a slowing which overall have helped interest rates the past several weeks. Given the day-to-day volatility we strongly encourage your clients to stay in close communication with their lender as they negotiate contracts to avoid any surprises caused by market movements. Next week minutes from the December Fed meeting will be released on Wednesday and Inflation readings Friday, both of which have the ability to influence mortgage rates.
We are available all weekend to assist you and your clients and wish you a successful 2019!
cnbc.com The U.S. economy is "in a really good spot," Mester says in an interview with CNBC.
Weekend Market Update - December 18th, 2018
Volatility in the Equity markets was again the primary theme this week as stocks continued their steep slide, in part reaction to Fed Chairman Powell’s somewhat hawkish comments on Wednesday but mostly due to negative investor sentiment. Key investor concerns include: an ongoing impasse in US/China trade-related issues, unproductive efforts to negotiate Britain’s withdrawal from the EU, a slowing in global economic growth and unease about the Fed’s interest rate policy. The Fed hiked rates again by .25% Wednesday but since expected had little to no impact on mortgages with most programs ending the week the same or slightly lower than last Friday.
The Federal Reserve’s 2019 rate forecast was revised downward from 3 hikes to 2 showing the central bank’s adaptation to evolving global market conditions by moving away from a rigid predetermined schedule enabling them to make data driven decisions next year. Mortgage markets will close early on December 24th and be closed on the 25th. https://www.reuters.com/article/us-usa-fed-williams/williams-soothes-markets-says-fed-listening-and-could-change-policy-idUSKCN1OK1SW
Wishing you and yours a safe and happy holiday season.
Atlantic Coast Mortgage, LLC
reuters.com The Federal Reserve is listening to the concerns of markets and open to changing...
Loudoun County offers two great programs to help moderate income and first time homebuyers with closing costs and down payments. PM for details. Atlantic Coast Mortgage, LLC
Weekend Market Update - December 8th 2018
Equities started off the week strong with inflation fears lowered and the markets initially believing US/China tariff issues had been resolved, at least temporarily, at last weekend’s G-20 Summit. However, a reversal of false optimism led stocks to tumble Tuesday, a trend that continued throughout the week, in part because investors initially misinterpreted G-20 trade statements. This stock market selloff along with Friday’s Employment Report showing job gains cooling helped mortgage rates for some programs end the week lower. Full Article: https://www.reuters.com/article/us-usa-fed-brainard/fed-policymakers-signal-turning-point-on-u-s-rate-hike-path-idUSKBN1O623Q
Next week is jam packed with Inflation readings set for release Wednesday and both Consumer Spending and Industrial Production on Friday. As of now most analysts are still predicting the Fed to hike rates again at their last meeting of 2018 the following week but most anticipated will be the release of their fresh rate hike forecast for 2019 and beyond.
reuters.com The U.S. central bank is flagging a turning point in monetary policy, as a Feder...
Weekend Market Update - December 1st, 2018:
This week measures of Core Inflation and Pending Home Sales were slightly lower than expected while Jobless Claims slightly higher. Our 2019 Housing Market Outlook received a nice boost with the Federal Housing Finance Agency’s release of the increased 2019 Conforming Loan Limits. The maximum conforming loan limit for 1-unit properties will be $484,350, up from $453,100 in 2018. The high-balance limit for 1-unit properties will be $726,525, up from $679,650 in 2018 (Announcement: https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Announces-Maximum-Conforming-Loan-Limits-for-2019.aspx ). Additionally, Chairman Powell reversed the FED’s October policy position by stating the automatic schedule of quarterly rate increases is over and they’ll have to continuously monitor, debate and counterbalance slightly weakening global growth with continued strength in the US labor market. As a result, a growing number of economists are revising downward 2019’s forecasted number of rate hikes helping some mortgage programs improve slightly. (full article - https://www.bloomberg.com/news/articles/2018-11-30/fed-jumps-off-predictable-rate-path-and-into-a-policy-wilderness?srnd=markets-vp )
Next week we’ll be monitoring the markets for any potential impact from the US-China trade talks at this weekend’s G-20 Summit as well as the important Employment Report set for release next Friday.
bloomberg.com Federal Reserve officials have stepped off a predictable path of interest-rate increases and are signaling to investors a hard truth about relying on increasingly contradictory economic data: There are no easy answers anymore.
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Atlantic Coast Mortgage - Loudoun Branch NMLS ID #1167353
Atlantic Coast Mortgage, LLC is an Equal Housing Lender LO NMLS # 529694 Branch NMLS ID #1167353|Company NMLS ID #643114 (www.nmlsconsumeraccess.org)
Carolyn Flitcroft - Senior Home Loan Consultant - NMLS #389312 (www.nmlsconsumeraccess.org) Equal Housing Lender
Embrace Home Loans can help with all your home financing needs, whether you're looking to buy or refinance. Visit our office in person, or give us a call to see how we can help you. www.embracehomeloans.com
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David Boswell - Home Loan Consultant NMLS #1118442 www.nmlsconsumeraccess.org
I help homeowners feel confident about the purchase or sale of their home.
Jeff Satre, Production Manager, Fairway Independent Mortgage Corporation, NMLS # 312412