Mortgage Heroes Update – June 10th, 2021
Client Case Study Urban to Rural – Part 2
Andy Cruz (00:00):
Hi Mortgage Heroes. Andy Cruz here in Business Development. And this is your weekly video newsletter. This week I am particularly excited because we get to finally bring you part two of our client case study of our VA client, who moved from an urban area out to the rural ranch. But before we jump right in, make sure you subscribe to this channel, hit the like button, and hit that notification bell so you get notified every time we drop a new video.
Andy Cruz (00:24):
Well, the time has finally come. It was about six weeks ago where I came to you and I talked to you about our client case study part one of two. If you didn’t watch that video, you can click the banner right up here and take a pit stop and go watch that video first, because I want you to understand what happened now that we’re going to talk about part two.
Watch: Client Case Study Urban to Rural – Part 1
Andy Cruz (00:42):
So a couple of weeks ago, we talked about our client who is moving from a dense urban townhome area and was also renting ranch space down in a different part of town, but they really wanted to have a space of their own where their family lifestyle and hobbies were all in the same physical space. The problem was they were a contingent offer. They were contingent buyers. They would have to sell their place in order to buy another one and have that seller wait on them to close everything in order to make it all work. And it just wasn’t happening. So they made the bold move of selling their place without having the replacement property identified yet. Now they were able to do that successfully because the market is so hot. They sold it at the top and they had all the cash from their sale available in their bank account to go make a strong, solid offer on ranch space here in rural San Diego.
Andy Cruz (01:34):
So here’s what’s happened over the last couple of weeks. They successfully closed their townhome. They moved out. They found a place to stay while they were looking for new home. They found a house with acreage over three acres in El Cajon, which has plenty of space for the horses, the goats, the chickens, and all the activities that we’d previously talked about it. And remember, they wanted a spot that had RV space as well as additional space for an ADU if the property didn’t have an ADU already on it, and they got it all. They got it all. And they were able to just successfully close using their VA loan.
Andy Cruz (02:09):
Why am I so excited about all this? It’s because there’s creativity in the marketplace right now and if you’re looking to make that move up, there’s still a way for you to do it, even though there’s this frenzy happening in seller land. And I know a lot of you might be watching this and you’re saying, “Yeah, I have my own house, but where’s the next one going to come from?”
Andy Cruz (02:27):
This is just one example of what to do when you want to make that happen and how you could make that outcome be real in your life, too. And I’m excited because this is something that is going to be great for their family, that allows them to bring extended family onto the property with them. They have more than three acres to develop out whatever they want that will help serve the needs of all the animals they have, do horse riding, raise the goats, have the chickens which are producing eggs. So, all the things that they wanted to have in their life that were being kind of pieced together, are now all in one clear picture, and that makes us so gratified here at Mortgage Heroes.
Andy Cruz (03:05):
And it’s also just really good to share a good news story in the marketplace right now, when a lot of people are facing trials and tribulations and struggles connected to having to try to outbid other people in bidding wars to get their offer accepted. Or being completely kept out of the marketplace because they’re a contingent buyer. Meaning they have to sell their place first in order to have the money they need to put down on the next offer.
Andy Cruz (03:29):
All that being said, if you still did not go back and watch part one of this two-part, I really encourage you to do so. I’m going to show you a couple of pictures of the property right here. Thank you guys for allowing us to share this celebration with you and to share our excitement for one of our favorite clients. Winning in real estate in 2021, it is still possible. And if there’s something you’re looking to pull off in real estate that we need to get creative about, please go ahead and give us a DM, give us a phone call, send us an email, and let us know how we can help you win in real estate mortgage in 2021. Thanks for watching, and we’ll see you again.
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Rates & Fees Disclosure:
‡ The payment on a $300,000 30-year fixed-rate VA loan at 3.000% with a 80% loan-to-value ratio is $1,292.01 with 0 (zero) origination points due at closing. The annual percentage rate (APR) is 3.235%. Payment does not include tax and insurance premium impounds. The actual payment amount will be greater. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. Some state and county maximum loan amount restrictions may apply. Appraisal fee of $600, Processing Fee of $895, Underwriting Fee of $795 included in APR calculations with borrower paying 0 (zero) loan origination points.
‡ Based on Mortgage Heroes internal data.
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