In an ever-changing real estate market, we wanted to talk with an expert in the mortgage industry about what options people have in the Santa Ynez Valley. We spoke with Julie DeMarcus from Trinity Financial to give us some answers on how to be prepared and why Trinity Financial is the best place to have all your questions answered.
What makes Trinity Financial Services a standout mortgage brokerage in today's competitive and fluctuating housing market?
Having originated mortgages in the Santa Ynez Valley since 1993, I have seen the ups and downs of various market cycles. I have had the privilege and honor of working with so many wonderful clients. With our new clients, we begin with a conversation around their specific needs and aspirations. The one-on-one is a valuable tool for ascertaining any issues that may need addressing. Being an independent mortgage broker allows me the flexibility to find individual
solutions and competitive pricing for my clients. I continue running Trinity Financial like I started – leading with integrity and trust.
What should homebuyers know before applying for a loan?
Lack of inventory continues to be one of the biggest challenges to prospective homebuyers. It’s essential for a homebuyer to have as many “ducks in a row” as possible before submitting an offer. One such item is being pre-approved before shopping for a home. We gladly assist our clients in obtaining pre-approval at no charge. At the completion of our initial one-on-one conversation, we will follow up with an e-mail to the client itemizing the specific income and asset documentation needed.
What common misconceptions about mortgages would you like to debunk for potential homebuyers?
There are a few misconceptions out there. One is the need for a 20% down payment. This is not the case. For first-time homebuyers, they can proceed with as little as 3% down for Conventional loan programs. Other programs (FHA, VA, USDA, Jumbo) have differing down payment requirements. Secondly, many clients think they must find a property before talking to a lender. This is certainly not the case. We have spent months talking with clients before they are in a position to purchase a property. Lastly, perfect credit is not needed before starting the home-buying process. Specific programs are more lenient than others with credit history and score requirements. We are happy to assist a client with
recommendations on steps to improve credit.
What advice would you give to prospective buyers who are unsure whether to buy now or wait, given the current housing climate?
There is a lot of market uncertainty out there. It’s important to note that for the majority of Californians, their greatest asset is their real estate. The concern about the current interest rates is understandable; however, most of us in the industry do feel that we will see lower rates on the horizon. The anticipation that a homebuyer today will be able to refinance into a lower rate down the road is a good incentive to at least secure the property and begin the homeownership journey now.
For more information, visit trinityfinancialca.com
Being an independent mortgage broker allows me the flexibility to find individual solutions and competitive pricing. I continue running Trinity Financial like I started–leading with integrity and trust.