Earning Your Trust, One Honest Loan At A Time

The Heartland Promise

You make a promise every time you take out a mortgage to buy or refinance a home.

There is a lot at stake with that promise to pay.

     Home ownership is about building memories, deepening roots, and fostering a sense of community in your neighborhood.  The right mortgage can also provide a solid financial foundation for your family’ biggest investment.

     We believe you deserve a promise from your mortgage professional, and we strive to keep the promises we make. 

We promise to show you the benefit of your refinance, and not just quote you rates and fees.

We promise to show you what your bank account says you can afford, not just what the bank says you can afford.

     We look forward to earning your trust, one honest loan at a time.

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The Benefit of Your Refinance

      "Our client (insert your name here) has applied for a mortgage through Heartland Mortgage, Inc. 

Based on a review of how much they earn, how much they have in the bank, their credit scores and the estimated value of their house, I expect to provide the following benefit (fill in the blank) at the following costs."

     This is the first paragraph of our Refinance Proposed Benefit Letter that you receive as part of our promise to "show" you the benefit of any refinance you apply for with Heartland Mortgage, Inc.    

      You will receive this letter, and will sign it along with your loan officer to acknowledge the benefit of your refinance, and point out any risks that there might be for the type of loan you are obtaining. 

      That promise doesn't end with the first letter.  At closing, a final copy will be provided for you to review with your loan officer: the Delivered Refinance Benefit Letter.

          You will still get all the government mandated forms that outline what the costs are, whether they were delivered in the mandated timelines, with all the calculations like APR that go along with them.

           But none of those forms actually show you what the financial benefit is, and how long it will take you to start actually getting that benefit based on the costs you pay. 

            That is why we designed a benefit letter that not only shows you what the benefit is that we hope for, but confirm that is the benefit that is delivered. 

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What Your Bank Account Can Afford, Not Just What The Bank Says You Can Afford

     This might seem strange, but depending on your monthly budget and whether you are a first time home buyer or not, what the bank says you can afford, and what your bank account says you can afford could be two very different things. 

    We want you to know the difference, because it can make all the difference in whether a house is affordable or not.  We call this the "Home Budget Qualification", and we provide this for every first time home buyer to make sure their first home owning experience is as successful as possible. 

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What The Best Rates Are And Why

We believe in more than just telling you about the "lowest rates at the lowest costs"; we'd rather  SHOW you them.  The markets that influence interest rates move just like stocks do--second by second, minute by minute, hour by hour.

Right next to this column is the "The Mortgage News Daily" feed, which is the most comprehensive website blog for information related to housing. One of the most valuable benefits this site offers is second by second analysis and tracking of the markets that influence interest rates. 

If your loan wasn't locked between 1pm and 1:30pm this day, your interest rate on a $150,000 mortgage just cost an extra $375. 

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Your Rights When Things Get Tough

Working as a member of the Pima County Foreclosure Task Prevention workforce has revealed a lot of misconceptions many homeowners have about their rights. One of the most publicized misconceptions is that borrowers have a RIGHT to modify their loan if they fall on hard times.  

Thousands of Arizona homeowners have spent a great deal of time, emotional energy, and money to pursue loan modifications only to lose their houses. Why?  The answer is simple:

There is no right to modify built into a mortgage loan.  

It might seem like common sense that a bank would want to make the mortgage payment more affordable if unforeseen things like job loss, health problems or loss of value in a home suddenly hit, but  right now, the note that comes with every mortgage does not give a home owner the right to modify. 

If hard times do come, there is one thing every single distressed homeowner should know: never, ever pay any company, attorney or service any upfront money to modify your loan. 

Start with a nonprofit organization like Don’t Borrow Trouble as they have contacts with a variety of local government and nonprofit housing counselors who can help you get the modification process started without any charge to you. 

It is important to us to provide as much information as possible regarding the benefits and costs of the mortgage money you borrow from the very first mortgage you get to buy that first home, to the benefit and cost of every subsequent refinance mortgage as your financial needs and goals change.  

We also want to be there for you to provide honest advice on what to do if you fall on challenging financial times. 

Above Content Except Case Shiller/New York Times and MBS on MND graph is protected under:

Copyright 2011 Dennis "Frank" Ceizyk Jr.  All Rights Reserved