Sanjesh Sharma - San Dimas, CA

Many lenders have changed their debt-to-income guidelines, but not Platinum Home Mortgage!

Has your lender recently changed their DTI guidelines to cap the debt-to-income limit and thereby hinder your client's ability to qualify? Here at Platinum Home Mortgage, as long as the loan meets temporary QM standards, you will not have to spend a second worrying about a DTI cap. Looking for more myth-busting information regarding the recent changes in the mortgage industry? Contact me today!

Frank E. Haislip
NMLS ID #702555
Mortgage Consultant
626-625-3804
Frank.Haislip@phmc.com

Also, be sure to print off our flyer below and share the good news throughout your office.

Thanks!

Platinum Home Mortgage helps you qualify buyers with our NO TAX RETURN program

Having a difficult time qualifying your borrowers due to the affect line items on tax returns have on your ratios? We can help!

Our NO TAX RETURN program will get you the results you're looking for. Look below to learn how our system allows for less red tape, less paperwork, absolutely no tax returns, and more approvals all at the same time. It's just another way Platinum Home Mortgage says YES!

Best Wishes for a Happy Holiday Season

This is Sharma with the Sharma Group at Platinum Home Mortgage.

I just wanted to take this opportunity to say thank you for all your continued support. I am thankful for so many wonderful relationships that I have built with many of you.

Your support has created my existence in this business and has filled my mindset with many inspiring thoughts. Have a wonderful Christmas with your friends, family and loved ones.

New FHA Maximum Mortgage Limits

Hello friends, families, colleagues, and clients.

This is Sharma with The Sharma Group at Platinum Home Mortgage.

Today I have important, time-sensitive information to share with you regarding changes to the FHA maximum mortgage limits that become effective January 1st.

There are areas in Alaska, Hawaii, Guam and the Virgin Islands where the maximum mortgage limits have gone up; however, in California, all of the counties around us have dropped… making NOW the time to finalize sales contracts and get mortgage applications submitted.

Here are the changes in our area:

Los Angeles and Orange Counties saw a drop of over $100,000 to a new maximum mortgage limit of $625,500.
Riverside and San Bernardino Counties saw a drop of nearly $150,000 to a new maximum mortgage limit of $355,350.
San Diego County dropped to $546,250.
Ventura County dropped to $598,000.
And Kern County dropped to $271,050.

To learn about the new limits for 2 to 4 unit properties and for properties in other states, please feel free to call me at 626-712-3052 or email me at sanjesh.sharma@phmc.com. As always, you can visit me online at: http://www.phmc.com/ssharma/

Thank you, again, for your continued support and have a wonderful day.

The California Home Buyer’s Down Payment Assistance Program (CHDAP)

Hello friends, families, colleagues, and clients.

This is Sharma with The Sharma Group at Platinum Home Mortgage.

Today I’m reaching out to tell you a little about an amazing program only available to residents of California that helps minimize the amount of out-of-pocket funds a borrower must pay at closing.

The California Home Buyer’s Down Payment Assistance Program, or CHDAP, offers qualified borrowers a deferred-interest second mortgage for up to 3% of the sales price. These funds are used for the down payment and/or closing costs and help make homeownership more attainable.

If you have a client who is short on funds, but ready to buy now, this is a great option. The CHDAP may be combined with a conventional, FHA, VA, or USDA Rural Housing first mortgage. No payments are made on the CHDAP loan until the property is sold or refinanced.

There are a few stipulations: the property must be an owner-occupied, primary residence and certain income and credit restrictions do apply.

To learn more about this program, please feel free to call me at 626-712-3052 or email me at ssharma@phmc.com. As always, you can visit me online by clicking here.

Thank you, again, for your continued support and have a fantastic day.

Project Approval Department

Hello friends, families, colleagues, and clients.

This is Sharma with The Sharma Group at Platinum Home Mortgage.

I'm reaching out to you today to talk to you about our specialized, in-house Project Approval Department. Our experienced team has been granted automated approval procedures by Fannie Mae and FHA, which means quick project approvals for you.

Have you made an offer on a condo only to find that it’s not approved? Or it was approved once, but hasn’t been recertified? Our Project Approval Department works directly with the HOA to certify that all agency conditions are met, so the project remains on the approved list.

Real estate professionals can use this tool to reach out to sellers and provide a value-added service.

Please feel free to call me at 626-712-3052 or email me at ssharma@phmc.com. As always, you can visit me online at phmc.com/ssharma.

Government Shutdown

With so much uncertainty and concern regarding the government shutdown, Platinum Home Mortgage and the Sharma Group want to assure homebuyers that they have our support. As a direct lender in business since 1993, and having weathered the 1995 government shutdown, we have put into place temporary policies and procedures to better assist our clients get through the loan process and into their new home quickly. We hope you find the following news video informative and that will keep Platinum Home Mortgage in mind for your next home loan transaction.

SUN VALLEY, LOS ANGELES (KABC) -- More fallout from the government shutdown: Home sales are cooling off, stalled by slower loan processing. And it could get much worse. The government shutdown is creating trouble in the recovering housing market. It's slowing home sales, and in some cases making potential buyers think twice.

Real estate agent Candy Peak says that due to the government shutdown, those in the housing market may have a harder time buying homes.

"The first thing that hit the market was the rising interest rates, but now with the uncertainty of the government shutdown, that's putting a second layer of insecurity, and people are holding back now," said Peak.

There are several factors involved.

One is that many Federal Housing Administration (FHA) loans, which are ensured by the government, are or will be stalled if the government remains shut down.

Mortgage broker Sanjesh Sharma says though it might not be affecting a lot of people yet, it will get much worse if federal employees continue to be furloughed.

"We've lowered the amount of employees from 8,709 employees down to 337 employees, so obviously when you have such a reduction in employees, you're going to have some delays," said Sharma.

Another issue: Lenders depend on the IRS to verify information like Social Security numbers and tax returns before a deal can go through. These days, realtors and lenders say it's hard to get a response.

"When it comes to closing the loan in 25 or 30 days, and we still have a government shutdown, believe me, we're going to have some difficulties," said Sharma.

Peak says all of this makes potential buyers think twice.

"Money is an idea backed by confidence, and if people don't have confidence in a system or a government, you're going to see people pull back and wait," said Peak.

But the real estate experts say that a dip in consumer confidence can also mean advantages in the real estate market, like lower rates and great deals for cash buyers.

"Cash is king, as they say," said Peak. "You can go in and just circumvent the whole loan process, and there's certainly many people doing that, so at least we are closing transactions more easily with cash buyers."

Federal employees already suffering the federal budget impasse can't even get employment verification.