My name is Larry Saunders and I’ve been working for the last ten years as a Mortgage Loan Officer with Mahone Mortgage, LLC in beautiful Charlottesville, Virginia. For most of the previous twenty years I worked as Realtor listing and selling homes for my clients. I’ve always had an interest in mortgage finance in my professional life. When I worked as a real estate agent, I always personally financially qualified the home buyers I worked with. Financing is too complicated for real estate agents to do that in today’s world. Back in those days, I also published a monthly mortgage financing newsletter that was published through the local association of Realtors and went out to all members of the local association.
There are many financing options to choose between and every financing method has advantages and disadvantages. There is conventional financing, FHA, VA and USDA Rural Housing financing. Zero down financing is still available. Conforming and non-conforming (jumbo) loans are available. Private mortgage insurance (PMI) or Lender Paid Mortgage Insurance (LPMI) for 80 to 95% financing can be arranged. Each type of financing has it own guidelines which are constanting changing. Every day I review lender guidelines so I can most effectively match each borrower with the most appropriate financing with the best available interest rate.