Max Schneeberger of Guild Mortgage is a member of I Take the Lead. We sit and have breakfast together every Friday morning at IHOP on 164th Avenue in Vancouver. I have come to know and respect Max for his incredible wealth of knowledge about the home loan business.
He spoke this morning at our meeting and here are some thoughts I came away with.
- Prepare for your home loan in advance. Max is the first person to see when you start thinking about purchasing a home – especially if you are self-employed or take large work-related deductions on your taxes. Max knows all the little things that will trip you up in the mortgage process and he will ensure that you have smooth sailing once you have identified the home you want to purchase. And he has some great strategies on getting the home in the bidding process. These days, with such a small housing inventory, buyers have to bid against other buyers. Max can help you win that bidding war – or decide whether it is worth winning that bidding war!
- There is a Washington State grant available that can pay your downpayment and part of your closing costs! But the loan officer – not the loan company but the loan officer himself/herself – must be licensed. Many are not licensed which will cost you up to $10,000 which you could otherwise take advantage of. See Max about this great opportunity.
- There is no such thing as a no-cost loan. If you are not paying it, it is being rolled into the loan which will cost you more in the long run. If you are able to pay the closing costs up front, do it and save yourself some money.
- There are a lot of rules about sourcing money, especially with federal loans (FHA, VA, USDA). Those rules can delay your purchase by a month or two. Max will explain those to you in advance so there are no surprises later.
- Spousal debts and credit challenges may or may not be part of the picture. It varies according to which state you live in and whether the loan is federal or conventional. Max will make sure this doesn’t trip you up.
In short, Max is the person to go to for your home mortgage – well in advance of contacting a realtor or even going to those open houses. Max will pre-qualify you and provide a letter for your realtor stating the loans for which you are eligible. He knows a lot of secrets of the trade that can get you into a home when other loan agents will just turn you down – and save you money in the process. Call Max now at 360-816-5110 or 360-931-1681. Or e-mail him at email@example.com. Tell him Rod at Virtual Websource sent you.
For more information about Max and Guild Mortgage go to www.guildmortgage.com/officers/maxschneeberger.