*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
I love baseball. It doesn't matter if it's playing baseball, watching baseball, or even just the smell of fresh pine tar on the handle of a wood bat.
Growing up, baseball was my life.
Upcoming games consumed my mind, and the feeling of hitting a ball cleanly gave me the adrenaline rush that I can only compare to the moment of takeoff on a thrilling rollercoaster.
The sounds, the smells, and the sight of the infield dirt meeting the outfield grass was exhilarating to me.
At the time that this article is posted, I'll more than likely be on a plane ride home from Omaha, Nebraska where my dad and I have spent fathers day weekend for the past 12 years.
Why Omaha?
That's where the top eight NCAA college baseball teams take the field for the opening round of the College World Series.
Told you I was crazy about this game.
What does baseball have to do with mortgages?
First, lets talk about situational hitting.
Let's pretend your team is behind by one run in the ninth inning. There is a runner on second base, and only one out because your teammate in front of you struck out on a called third strike. The home crowd seems deflated. The pressure is weighing heavily on your shoulders.
What do you do?
You could lay a bunt down the third base line, but that would all but guarantee that you'll get thrown out at first base, even if that means the runner on second would advance to third. At that point, the pressure on your teammate batting behind you is extremely heavy. Would he get a hit and tie the game up? Would he strike out? Would he ground out, line out, or fly out?
Too risky.
What about looking for a specific pitch and driving it into right field, giving your runner a chance to score from second base and relieving the pressure from your teammates behind you in the batting order?
Yeah, that may be a better way to go.
Mortgages are situational, just like being in the batters box.
If a borrower doesn't have good credit and only a small amount of money for a down payment, should I tell them to do a conventional loan?
Probably not, as it's not likely that it would be in their best interest.
There are other loan options, such as an FHA loan that may suit them better, be more lenient, and relieve a bit the financial burden that may be weighing on their shoulders.
Next, Lets chat about what was portrayed in the movie "Moneyball."
In 2002, the Oakland Athletics were in a situation where they had great players who were underpaid due to a small budget. It was immanent that other teams would be swooping in to buy them in free agency in the near future, and the Athletics needed to act fast.
The A's did their homework, hopped on the phone, and traded away those promising players for a cluster of undervalued underdogs. They also went into the free agency market and picked up players who had decent stats, but nagging injuries.
In doing so, Oakland was able to create a Playoff team with Major League Baseball's Island of misfit toys.
Just like those 2002 Oakland Athletics, sometimes borrowers might need to work within a tight budget.
As a loan officer, my job is to help those borrowers qualify financially to buy, and start building equity in a home.
It's okay not to have the newest house in the neighborhood. It's okay to work within your budget and find a nice house for a cheaper price. If you need to fix it up a bit to make your house a home, guess what...THATS OKAY!
Let me help you understand what goes into qualifying for a home, and how to work within your budget. I'd also love to help you see the benefits of multiple loan products and how each one could have a positive affect in your life.
Give me a call today and let's discuss more!
*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Brayden Ramsay NMLS #1997195
Momentum Loans NMLS #1606597
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