Diamond Mortgage Blog

I just don't understand why people lie to 1st time buyers. I know its been going on for the longest and I know its going to continue. Loan Officers like that give me and my company Diamond Mortgage Lending a bad name and I can not stand it.

Would I be wrong for being a whistle blower? Its not me!

Let me tell you why I would not say anything. Because for all those people that lie they lose in the long run. I have met a ton of loan officers that had a good run during the housing boom. They were pulling in $20,000 to $30,000 thousand a month. Now these people our no where to be found. They did not set their business up for the long run. Here at Diamond Mortgage Lending, we look forward in helping the housing need for your child and your grand children.

Maybe I'm jumping to conclusion or maybe not. This other loan officer told a 1st time buyer that all they need to go stated is 3% down. Maybe the loan officer has not been in their office in a while because no one is doing stated loans for 10%. On October 20, all mortgage insurance companies will not cover any loans greater than 90% of the loan amount.

The only way this is possible is if the buyer is going FHA. Which is a 3.5% down payment and the borrower has to go full documentation, which is showing 2 years of tax returns and pay check stubs.

If you want a company that will go to great lengths to make sure that you have the best loan to fit your financial plan, Give Diamond Mortgage Lending a call. 818.837.7300