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.

Top 4 Things Our Clients Do NOT Know!!!

Us Realtors and Lenders have a tough job. We assist with the largest financial transaction our clients will most likely ever be party to. We play the role of teacher, closer, therapist, counselor, friend and salesperson. Between escrow officers, impound accounts, title reports, inspections, appraisals, underwriters, home-owner’s insurance, listing agents, selling agents, request for repairs, termite reports, loan estimates, closing disclosures, loan documents – it’s amazing any deal ever gets done. The amount of information I have to cover with a client when he or she first goes into escrow can be overwhelming. Inevitably, if I don’t follow a script … Continued

What is Going on With Appraisals Right Now???

Let’s get this out of the way up front – appraisers have a REALLY tough job right now, especially in markets where inventory is low Following 2009, appraisers saw both their reputations and their finances take a major hit. As politicians looked for the “source” of the housing crisis, regulations set forth upon appraisers became almost punitive. The creation of Appraisal Management Companies- AMC’s- created a middle man designed to protect consumers. I believe the creations of a third-party appraisal management system was much needed and is a net positive for our industry. By creating a layer of separation between … Continued

Avoid FHA Loans

Right or wrong, many of my Realtors partners shy away from having their sellers accept offers from FHA buyers. Luckily, Fannie Mae and Freddie Mac have made it easier in the last 90 days to qualify for a low money down conventional loan. Buyers can NOW buy a home, with a conventional loan, loan amounts up to $625,500 – with as little as 5% down. Please keep in mind that ALL loans, even conventional loans, with less than 10% down comes with some type of Private Mortgage Insurance (PMI). Clients, agents and even some lenders can get VERY confused by … Continued

What The HECK is Going on With This Market !?!?!?

Realtors, As you’ve probably noticed, on the road to helping 400 families in 2016, the market has already thrown us some substantial curveballs. I have been having a LOT of interesting financial conversations with buyers and potential buyers. Lucky for us, clients who have been on the fence about buying are starting to get motivated. January was the busiest month of my career and our team talked to 92 new buyer leads. Let’s be honest, most of our clients have NO IDEA why falling oil prices are actually a bad thing for the world economy. Shouldn’t lower gas prices be … Continued

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