|Mortgage and Lending||
|Tina Del Casale / NMLS#191852|
|Renovation & Jumbo Loans in MD,DC,& VA.|
|location_on Rockville, MD — Sandy Spring Bank / NMLS#2184|
|NMLS#191852||insert_link Home Loans in MD, DC, VA, FL & CA|
|web Lending in MD,DC,VA, DE, PA, CO, FL,OH, SC, NC,GA|
A second generation loan officer, I started processing loans in the evening for my father while I was in college and have never been the same since! After I graduated with a degree in Business Administration I briefly tried a couple of different sales jobs but nothing was like the Real Estate Industry. In 1989 I got my Real Estate License so I could begin brokering loans in Silicon Valley.
Northern California was an interesting market and back then there were very few females in the lending industry it was primarily run by men but that didn't stop me from pushing through. I went to every function I possibly could to meet people in my industry and to learn the business. I began with First Time Home buyers and as the years past just focused on that. I taught Home buyer Education Classes before it was fashionable and was one of the original lenders to work with the San Jose Teachers Program. If it benefited my buyers I found it. I also was developing a reputation for getting the job done well.
I loved that every transaction was different and there was no such thing as a boring routine in the lending industry. When I started rates were in double digits and people were happily refinancing into 13%! 10% down was a rarity and loans took 1-3 months to close. There was no such thing as a credit score or automated underwriting. We hand wrote applications and fax machines were not considered an accetible form of sending information because thermal paper was unreliable. Wow how the industry has changed! And how it has circled back to the way it was! Full documentation, credit and income must be good!
Ok so it's late 2006 and things in the Real Estate market start to decline for many people for the first time. However for those of us who have been around a few years this was just the natural cycle of things. What goes up must come down! In the early 90's I was still at the beginning of my career and enjoying growth each season until SPLAT the real estate market in Northern California went in the tank. The computer industry crashed and so did our local markets. There were short sales, foreclosures and sellers giving away the farm just to get out from underneath their home. Sound familiar! This is why our parents make us study history. Nothing can go up undeterred forever and all sellers markets eventually become buyers markets until the cycle begins again.
What I learned from that first market decline was don't over extend your funds or your credit. Save a lot for a rainy day. Trust your instincts if your little voice inside says pause, THEN PAUSE! Don't worry about what your neighbor, friend or family member is doing. Don't be a follower do what is best for you and you will ride out this down market as well. Don't be afraid of Real Estate it is still the one commodity we can't make more of. Land is a limited resource and in the long run will never let you down if you went into it for the right reasons and did your home work.
So buy if you can and then laugh all the way to the bank when the market comes back and you tell everyone how brilliant you were for getting in when you did!
Helping my clients become and stay homeowners since 1989! I offer the lowest cost loan strategy over time for all my clients. No quick fixes or gimmicks just direct communication and honest results!