NMLS: 365178

A Los Angeles based lending team specializing in conventional and FHA purchase mortgages. The Groves Lending team can manage the entire loan process providing clients with efficiency and accuracy.

GREAT News About Mortgage Down Payments & Refinances!!!

Fannie Mae, one of the institutions that buys a majority of the mortgages in America, just released some updated guidelines easing down payment requirements and increasing the availability of cash-out refinances on HIGH-balance loans. As a reminder, in LA County, High Balance Loans allow our clients to borrower up to $625,500 on a single family residence, up to $800,775 on a duplex, up to$967,950 on a triplex and up to $1,202,025 on a four-plex before having to deal with the complications and increased scrutiny that accompanies a jumbo loan. You can click here to read the entire guideline, or check … Continued

The Top 5 Types of People You Need to Know in 2016

I hope you’re having a great start to the new year. One of the ways The Groves Lending Team can be committed to helping 400 families in 2016 is by surrounding ourselves with GREAT PEOPLE. It’s easy to help this many borrowers when I know they are being taken care of by the other professionals I refer to. Here is a list, in my opinion, of the top types of professional you should know and who I use personally. A GREAT insurance agent –  A great insurance rep is KEY to ensuring our deal closes on time and that our … Continued

Top 5 Thing EVERY Realtor Should do in January?

The Groves Lending Team is committed to helping 400 families in 2016.  How many families do YOU plan on helping get into a new home in 2016? Seriously – I wanna know.  Hit the reply button and let me know Here are five things you can do in January as a Realtor to help reach your goal. Don’t Fall Victim to the Hangover Effect – whether it be a figurative or literal hangover – don’t let the holiday hangover bleed into 2016.  Too much to eat or drink?  Not enough lead generation activity in December?  Deals fall through due to year-end problems? … Continued

Close a loan in 9 days with TRID? – We can do that

By now, we’re sure you’ve heard of TRID, and how it will make closing take at least 45 days, if not longer. Fortunately, Movement Mortgage has been preparing for TRID over the last year and we are proud to announce that we have closed our first loan…and we did it in 9 days. Did we mention that this included a weekend and a federal holiday? By streamlining our process to have several procedures all happening at once instead of one after the other, we are not only closing loans in the same amount of time we were doing it before, but … Continued

Closing Loans On Condos That No One Else Can

The Groves Lending Team just closed on this cool condo in Pasadena. After the borrower had been in escrow for 20 days, the Groves Lending Team was asked to jump in and save the day.   When it comes to condos, all homeowners associations must have a general liability with endorsements insurance policy in place which is typically included in an umbrella policy.  This policy protects the association’s reserves if they it is sued for liability.   The problem that the other lender ran into was that the general liability and endorsements policy was shared between this association and several others.   This … Continued

Less than 20% Down No MI & No Second – We Can Do That

The Groves Lending Team just closed on this traditional home in Park Hills. When buying a home with less than 20% down, mortgage insurance is normally required.  We have our clients who want to put between 10% to 19% down take out a second loan in an amount sufficient to the first mortgage to 80% of the home’s value, thus avoiding the need for mortgage insurance.   The second loan is a home equity line of credit has a monthly payment that is less than the normal mortgage insurance monthly payment. For clients who are putting between 5% and 9% down … Continued