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pilot mortgages

Old 06-11-2017, 05:48 AM
  #71  
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I'd like to post a HUGE recommendation for Marty and his team at Trident Home Loans (THLs).

About six months ago I was shopping for a lender for the purchase of a new home in another state. My previous mortgage was with a giant monster mega bank and flashbacks of the pains they caused during the lending process seven years ago had me cringing in my sleep. While reading through these forums one day, I ran across other comments praising the outstanding job Marty and his team did for them. So, I figured why not give Marty and his team at THLs a try? I'm extremely glad I did. I had a somewhat unconventional mortgage request and wasn't sure any lender could deliver, but Marty did. After one discussion with Marty about what I was looking for, he provided me options within a few hours from banks who were willing to accommodate. This initial outstanding customer service from Marty and THLs was just the beginning.

The entire process was a breeze from start to finish. Marty and his team understood the airline pilot/military reservist pay structure, so there was never any question about income. I still remember my previous lender seven years ago trying to wrap his head around why I “only work” 70 to 80 hours a month, then waiting days to receive confirmation that he received the documents needed. Not the case with THLs. Whenever some type of paper work was needed, I simply sent the documents to one of Marty’s mortgage brokers and the rest was taken care of – thank you Kristina H., you are awesome! If I ever had any questions, my emails and phone calls were always answered or returned in a timely manner throughout the entire process. It really makes a huge difference when one is not treated as a number (as was the case with my previous lender), but instead as a valued customer.
We closed on the house this week and even the attorney at the closing table praised THLs for their attention to detail and quick response time to their requests.

We are now the owners of a beautiful home financed on a 15-year fixed 3.25% interest rate, with the option to recast the loan at no cost. After the sale of our previous house, the recast option will allow us to put more money down on the principle of our new home so that we may reset the monthly payments to a lower amount. I wholeheartedly recommend Marty and his team at THLs to anyone looking to finance/refinance the purchase of a home. Thank you, Marty!
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Old 06-11-2017, 07:12 AM
  #72  
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Thank you for the very kind words Sir! You were a pleasure to work with! I'm glad we were able to make this a smooth mortgage experience for you! I'll make sure to tell Kristina and the rest of the team! We'll chat in a few months!

Fly safe!
Marty


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Old 06-12-2017, 06:43 AM
  #73  
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Default Amy @ NBKC for your mortgage needs!

I have to put a plug in here for Amy Paterson at NBKC. I saw her mentioned earlier in this thread and in a few others on the web and have to say it was a great experience working with her! She got most of the paperwork she needed up front which allowed her to give us more accurate numbers right from the beginning with no bait and switch tactics. The rates were unbeatable, and the process was smooth sailing. She understands pilot pay procedures and even had no problem getting us going with a purchase contingent on a sale AND on a job offer letter with only training pay. We had a ton of questions and she answered with minutes of sending the email or call every time. If you need a mortgage give her a call or email at (913)253-0190 or [email protected]. You won't be disappointed.
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Old 06-22-2017, 02:19 PM
  #74  
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For anyone thinking about buying a house or doing a refinance now is a great time. Rates have dipped significantly. If you keep an eye on the 10yr treasury bond you can spot the mortgage rate trend. If the bond yield increases then rates will trend higher and vice versa. The bond has been as high as 2.62% this year and is currently at 2.15% which is the lowest its been since 10 Nov 16.

If you're thinking about doing a refi you can look at the long range charts to see what the bond was when you bought and if its lower now you could save some money. I do a lot of no cost refi's which lowers your rate/payment and my company will pay the closing costs. Here is the bond chart:

https://finance.yahoo.com/quote/%5ETNX/

Let me know if I can help you in any way.

Fly safe!
Marty
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Old 07-02-2017, 10:54 PM
  #75  
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I was wondering how student loans play into the mortgage process. As pilots the majority of us have substantial student loans. Being a regional FO, with no debt other then that loan, how does that affect my purchasing power? I'm in the Chicago area which doesn't help anything!
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Old 07-03-2017, 07:13 AM
  #76  
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Originally Posted by WaterRooster View Post
I was wondering how student loans play into the mortgage process. As pilots the majority of us have substantial student loans. Being a regional FO, with no debt other then that loan, how does that affect my purchasing power? I'm in the Chicago area which doesn't help anything!


They just get factored into your debt to income ratio like any other debt. All your current monthly debt payments (minimum credit card payment, student loan payment amount, car payment, etc) are totaled up plus your proposed mortgage payment and divided by your monthly income. Bonuses you receive also get added in to increase your monthly income and lower your debt to income ratio. You'll want your debt to income to be under 50%

If you make 60k a year with bonuses you wouldn't want your monthly debt payments to include the mortgage to exceed $2500.

60000/12 months = 5k monthly income

5000 x .5 = 2500 max debt obligations to include the new mortgage

Plan your income off your min guarantee and bonuses, but know that usually a lender can use your actual hours versus the min guarantee if needed. Hope that gives you a basic starting point. Let me know if you need anything else.

Fly safe!
Marty


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Old 07-05-2017, 04:06 AM
  #77  
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I think I'm lucky to come across this discussion The thing is I've been researching opportunities to buy an apartment anywhere near NY and mortgages give me a lot of headache. Could you please advice about floating rates? I gather it is more risky, reading different mortgage tips https://tranio.com/traniopedia/tips/...dden-pitfalls/ Is the idea worth it? Guess I'd like to stick to floating rate only if it is safe and worth doing
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Old 07-05-2017, 05:45 AM
  #78  
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Call MARTY!

Nuff said.......
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Old 07-05-2017, 06:45 AM
  #79  
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Originally Posted by konop88 View Post
I think I'm lucky to come across this discussion The thing is I've been researching opportunities to buy an apartment anywhere near NY and mortgages give me a lot of headache. Could you please advice about floating rates? I gather it is more risky, reading different mortgage tips https://tranio.com/traniopedia/tips/...dden-pitfalls/ Is the idea worth it? Guess I'd like to stick to floating rate only if it is safe and worth doing
I personally would not recommend you do an adjustable rate mortgage (ARM) in the current market. That was a European article but a floating and ARM are the same thing. Rates have been rising and will keep rising but at what speed is the question? By the time your ARM adjusts you could jump from 3.125% to 5.125% and then just keep moving higher. ARMs can be a good deal if you're only going to own the apt for a few years. Here is an older article that does a good job explaining the pros and cons: 30-Year Fixed vs. 5/1 ARM | The Truth About Mortgage.com

If mortgages give you a headaches then don't turn them into migraine by doing an ARM. Just my 2 cents.

I'm not licensed in NY but I'll PM you a lender who is that has a good reputation.

Marty

Thanks Sonny!!
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Old 07-05-2017, 11:42 PM
  #80  
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Originally Posted by MartyTHL View Post
I personally would not recommend you do an adjustable rate mortgage (ARM) in the current market. That was a European article but a floating and ARM are the same thing. Rates have been rising and will keep rising but at what speed is the question? By the time your ARM adjusts you could jump from 3.125% to 5.125% and then just keep moving higher. ARMs can be a good deal if you're only going to own the apt for a few years. Here is an older article that does a good job explaining the pros and cons: 30-Year Fixed vs. 5/1 ARM | The Truth About Mortgage.com

If mortgages give you a headaches then don't turn them into migraine by doing an ARM. Just my 2 cents.

I'm not licensed in NY but I'll PM you a lender who is that has a good reputation.

Marty

Thanks Sonny!!
wow thanks a lot! you've just eased my mind
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