Where will you be in 15 years?

3 01 2012

How about debt-free?

The average American who starts a 30 year mortgage pays it off in 37 years.  The average American on a 15 year mortgage pays it off in 8 years.

Are you above average?

If so, let’s talk.  I’d like to help you save tens of thousands of dollars on your home.

Wilhelm Koenig

405.249.5993 cell

Advertisements




How to save an additional $150,000 on your home:

30 12 2011

Small step #2.

So you own a home– congratulations!  You’re decades ahead of the average renter and are on the path to win.

Over time, your income will likely increase, and your current debts will decrease.  This can help you make the second small step towards financial freedom: The short-term mortgage.

By refinancing to a 15 year mortgage, your interest rate will usually be 1-3% less than your current 30 year rate.  Also, every dollar you spend gives you the same result as $3 towards a 30 year mortgage.  And in the first 12 months of a 15 year loan, you will build more equity than 4 years of payments on your 30 year loan.

Imagine you’re driving to your beach vacation and you could take a route that would get you to the same destination, but in half the time with only 1/3 of the costs, giving you an extra week of time on the beach.  The catch is you’d have to give up two McDonald’s meals on the trip to enjoy an extra week in paradise.  Which route would you choose?

When you’re ready to make a choice to save more money on your home, I’m ready to help.  Please contact me for a personal savings report, to see how much extra time on the beach you’ll get.

And if you can only afford your current monthly payment, we can usually still save you 1% and a decade of payments with a 20 year loan.  So please reach out to me to see how much you’ll save.

As always, I’m here to help.

Sincerely,

Wilhelm Koenig

405.249.5993 cell





Q: What documents do I need to get pre-approved?

26 09 2011

A: More than you’ve got. 🙂

Seriously, if you are prepared, getting pre-approved for a home loan is simple.   You and I set up a time to talk about what you want to achieve with this transaction.  This can be on the phone or in person, and usually takes between 15 and 30 minutes.  We’ll cover the bases of getting approved, the homebuying process, and we’ll look at different strategies to save the most money on your home over time.

By the end of this conversation, I will tell you whether or not I can help you, and if I can, exactly what I will do for you.  I will also give you a detailed list of documents to gather, so I can give you a pre-approval letter that shows I have verified your income, assets, and credit and that you are fully approved.

These are usually:

All pages of the last 2 years of your Federal tax returns

The most recent 1 month of paystubs

All pages of the last 2 months of bank statements

All pages of your most recent retirement or investment account statements

Driver’s license and social security cards

And if you are refinancing, your most recent mortgage statement, your home owner’s insurance declarations page, and your tax sheet

That’s typically all you need.  Then we have a follow-up meeting after you’ve gathered the documents so we can finalize your approval.  We’ll address any challenges on your approval and make sure that we have solutions.  This way there are no last-minute curveballs before closing. 

I’ll educate you on the different ways we can structure your loan to maximize your savings monthly or over time, and you can choose what is best for you.  This is how I am saving your fellow Oklahomans over $20 Million dollars on their home financing this year, and I want to help you be a part of this family.

Please contact me for a complimentary consultation today.

Wilhelm Koenig

405.249.5993

 





Do I have to pay for closing costs too?

5 07 2011

It depends on how you write your contract. 

Look at this house, the parts of the home represent the parts of a mortgage.  The door is the down payment, the house is the loan, and the chimney are the closing costs, because they stick up above the rest of the house.

If the sales price is $100,000 and the down payment is 5%, then the door costs $5,000 and the home costs $95,000.  The closing costs probably would be around $3,500. 

So if you ask for the seller to pay for your chimney, you can get into your home with only paying for the door ($5,000.) 

Sometimes the seller will pay for the chimney only if you raise the sales price to cover the cost of the chimney.  The new sales price would be $103,500, the down payment would be $5,175, and you would pay no closing costs. 

In either case, it is extremely important to hire a competent loan officer and realtor who both work for you.  I would love to explain your loan details as clearly as the example above and put you in touch with a solid realtor who will work to make the transaction fit your needs.  Please reach out to me when you need help financing your home.





Free food! . . . anyone hungry?

20 06 2011

 

Imagine a new restaurant just opened in town, one guaranteed to have the best food anyone has experienced in the past 50 years.  You’d expect them to have lines around the block and a waiting list weeks long, but that’s not the case.  You go inside, are seated immediately, and get to experience the delicious food and the staff’s full attention.  Oh, and I forgot to mention, the food is free.

The restaurant is our refinance market.  While rates are divebombing back down to the lowest levels in the past 50 years, almost no one is refinancing.  The restaurant sits empty.  Some had life issues like a divorce that kept them from refinancing last year.  Others owned a business and couldn’t qualify with their previous income.  Still others have been paying down debt over the past 12 months and are finally in the position to save big money.  And you are one of the few who know about this best-kept secret. 

So if you or a friend hasn’t visited the restaurant, just call me today and I’ll save you a seat.  Because best-kept secrets don’t last for long.





What is the strongest way to save on your next home?

18 04 2011

A couple came to me this past week, wanting to buy a home here in Edmond.  They wanted to know the secrets of finance, how to buy the home they wanted, but get the best value on it.  They wanted to finance their savings for 30 years, not their overpayments.  I love working with budget-conscious buyers, of being able to show them how to maximize their savings.

And after taking with them, I decided to share their report, so that hopefully you can save too.  Please click on the link for the report and a video explaining how you can save.

VIDEO REPORT

I look forward to helping you be a part of the over $20 million dollars Oklahomans will save on their homes this year.





Happy April Fool’s Day

29 03 2011

It would be WAY too easy to make a cheap joke about the new Fed lending guidelines that will be enacted this Friday, April Fool’s Day.  I’ll let you share your jokes in the comments section below.

But a tornado of new lending changes will hit Oklahoma buyers this Friday, and I want you to be prepared.  The Fed’s LO Compensation Plan aims to help borrowers by prohibiting abusive or unfair lending practices.  Simply put, lenders cannot “double-dip”, receiving money from the borrower and the lender.  They also cannot steer a client to a worse loan product so they can make more money, and must disclose at least 3 specific options to each client.  And they cannot be paid based on the terms of the loan, like credit score or other factors.  They can only be paid a flat salary or a flat fee based on the amount of the loan.

There is already way too much confusion about how to implement these guidelines, so I put together a video to show you how I will keep it simple and understandable for you, the client, in the face of these changes.  Please click HERE for a short video explaining how I will help you retain your sanity on April Fool’s Day.

Please let me know what makes sense to you and what is confusing.  And as always, I’m here to serve.  Thank you!