Whether you're buying, selling, refinancing, or building your dream home, you've got a lot riding on your mortgage consultant. With market conditions and mortgage programs changing frequently, it's crucial for you to ensure that you're dealing with a top professional who can provide quick and accurate financial advice. Frank Bossio possesses the expertise and knowledge required to explore the various financing options available.
Frank's ultimate goal is to ensure that individuals make the right choice for themselves and their families. Frank is committed to surpassing his customers' expectations by offering extraordinary mortgage services. Please browse Frank's website, where you can explore the different loan programs available, utilize decision-making tools and calculators, and easily apply for a loan through a short form application consisting of four simple steps.
Upon receiving the application, Frank will personally reach out to discuss the loan details, or you may opt to schedule an appointment. For personalized service and expert advice, you can reach out to Frank anytime via phone or email.
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What our clients are saying
"Frank was incredible to work with on our journey to becoming first time homeowners! We had so many questions and emotions throughout the process and Frank was patient, approachable, helpful, and prompt. He was passionate about making sure our money was being spent in the smartest and most efficient way possible. Buying a home was the biggest and most expensive purchases of our lives, and we can’t thank Frank enough for virtually staying by our side throughout the whole process!"
"The whole experience provided by Barrett Financial group was perfect. Frank Bossio was very patient with us as a first homebuyer with many questions. He walked us through the steps with professionalism, provided insight and guidance. I’m very grateful for him and his teams diligence in making this possible! 🫶"
"Frank Bossio has truly been a wonderful help and wealth of knowledge through this whole process. He’s always willing to explain things in detail, keeps in constant communication and goes out of his way to help in any way he can. You will not be disappointed with your experience!"
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A conventional loan is a type of loan that doesn't have government backing or insurance, unlike FHA, VA, and USDA loans, which are insured by the government. Conventional mortgage loans, whether conforming or non-conforming, usually require a slightly larger down payment than some government loans. However, conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by "consumer reporting agencies" (CRAs). One type of CRA is commonly known as a credit bureau. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your income, debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy.
On a conventional mortgage, when your down payment is less than 20% of the purchase price of the home mortgage lenders usually require you get Private Mortgage Insurance (PMI) to protect them in case you default on your mortgage. Sometimes you may need to pay up to 1-year's worth of PMI premiums at closing which can cost several hundred dollars. The best way to avoid this extra expense is to make a 20% down payment, or ask about other loan program options.
It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month. Your savings depends on your income, budget, loan amount, and interest rate changes. Your trusted lender can help you calculate your options.
An Appraisal is an estimate of a property's fair market value. It's a document generally required (depending on the loan program) by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property. The Appraisal is performed by an "Appraiser" typically a state-licensed professional who is trained to render expert opinions concerning property values, its location, amenities, and physical conditions.
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Barrett Financial Group, L.L.C. | NMLS: 1988859