The Marketplace
Home Mortgage Blog

Marketplace Home Mortgage branches into New England market

At Marketplace Home Mortgage, we’re continuing to grow our footprint and are currently expanding service in the state of Massachusetts and the New England real estate market.

Marketplace Home Mortgage loan officers are already helping area real estate agents and home buyers meet their goals of achieving home ownership and we have now tapped industry professional Rick Schlager to lead our efforts in the Bay State.

new england real estate market
Rick Schlager

“I joined Marketplace because no other company offers New England the technological edge we can,” Schlager said. “As a service-oriented loan originator, I know that kind of convenience is going to thrill the Massachusetts market by combining the great tools Marketplace utilizes with the focus of producing outstanding customer service.”

Presently, Marketplace has offices in Bedford and New Hampshire, with plans to open a second New Hampshire location in Portsmouth in the fourth quarter.

“We see New England as a major growth focus for the Marketplace team,” says Eastern Division Manager Michael Wesson. “With the overwhelming response our efforts have received, we plan to hire more than a dozen new loan officers and support staff within the next year.”

The New England team will continue building its reputation for quick, dependable mortgage service in the coming months.  In addition, we will build the infrastructure – such as fully local underwriting and processing – to ensure that Marketplace can continue to provide outstanding service and results to consumers and referral partners in the New England real estate market.

“It’s no surprise that Rick has a laser focus on achieving high levels of customer service,” said Marketplace CEO Keith White. “That sincere, tangible connection to home buyers and Realtors is what makes our company stand out.”

 

Marketplace Home Mortgage Voted “Best of Business”

We are proud to share that Marketplace Home Mortgage was voted Best Mortgage Company in this year’s TC Business Reader Poll.

Each year, TC Business Magazine works with DataJoe Research to accumulate votes for their “Best of Business” Awards.  Through the process, they survey thousands of professionals to determine which companies exemplify excellence in their respective industries.

We are honored to be recognized. Thank you to all of the clients and industry peers who voted for us. Our mission is to provide our customers with the best possible mortgage experience, and we are so proud to know that you are experiencing the excellence we always strive for.

Thank you for your business. It is truly an honor to serve you.

Marketplace Home Mortgage Launches Commercial Lending Division

Marketplace Home Mortgage, L.L.C. is excited to be adding to our product line as we launch our new Commercial Lending Division.  With the acquisition of First Financial Commercial, a 20-year Commercial Lender owned and operated by Stephanie Safe, Marketplace Home Mortgage now offers commercial lending to clients across the nation.

Together, Stephanie, and long term Marketplace executive, Mike Beerling, will be leading the effort.

With her long list of industry contacts, Ms. Safe and Mr. Beerling will connect commercial clients to the resources, support and unmatched talent Marketplace provides.

“Marketplace is built on relationships, expertise and technology that simplifies lending,” Ms. Safe said. “Now that commercial lending is under the same roof, we can guarantee great service for every possible type of customer demand.”

Ms. Safe has spent the past decade running her own commercial lending company, headquartered in Minnesota while closing transactions across the United States. Her national experience with projects from Multi-Family, Senior Facilities and a variety of other commercial real estate puts a new tool in the arsenal of the 180-plus Marketplace loan officers across their footprint.

“With Stephanie on board, we don’t have to point customers interested in commercial options to the lender down the street,” said Chief Development Officer Greg Ettinger. “Marketplace becomes the go-to option for any and all real estate related lending services.”

Marketplace is well into an expansion that has seen new offices in Iowa, South Dakota, New Hampshire and other states in the past year. CEO Keith White – who’s known Ms. Safe for years – said he envisioned her for the company’s commercial lending leadership long ago.

“Stephanie brings a lot more than her Rolodex to our team,” White said. “She’s charismatic, hardworking and committed to stellar results. Whatever your commercial lending needs, our team will deliver – faster and smarter than anyone else.”

3 Reasons to Love Our On-Time Closing Guarantee

As a mortgage company, we are committed to making sure our clients have the best home buying experience possible. We understand one thing that gives many homeowners headaches is worrying about their closing date being pushed back. There are a lot of logistics that go into a real estate closing. If you plan for a closing date and move out of one home before you can close on and move into the next, things can get complicated and expensive. That’s why we created the Marketplace Home Mortgage On-Time Closing Guarantee *.

Here are 3 Reasons Our Clients Love It:

1. Make A Stronger Offer
Closing on time is important to both the Buyer AND the Seller. In today’s competitive market, our On-Time Closing Guarantee* helps you stand out during multiple-offer scenarios. It lets the seller know they can count on Marketplace to keep the financing on track and helps give them peace of mind.

2. Worry Less 
With the added protection of our guarantee, you don’t need to worry as much about the possibility of unexpected costs due to a delay. If for some reason Marketplace Home Mortgage is unable to close your new home purchase on or before your scheduled closing date, we will pay your first mortgage payment up to $1,500 and the seller of the property will also be paid $5,000*.

3. Enjoy the Excitement
With the On-Time Closing Guarantee * in place, you are able to focus on the exciting parts of your home purchase, like the joy of preparing and planning for life in your new home.

To learn more about our On-Time Closing Guarantee * and what it can mean for you during your home buying process, reach out to a Marketplace Home Mortgage Loan Officer today.

 

*For details see our complete Terms & Conditions.

 

 

Tips for Buying A Vacation Home

Vacation homes can be a great way to invest in real estate. Whether it’s in the mountains, on a lake, or by the beach, a vacation home is a wonderful place where your friends and family can make memories for generations to come. With interest rates still historically low, now could be a great time to buy. If you are in the market for a place to call home, away from home, here are several things to consider as you start your search.

  1. Choose An Area You Love
    This may seem all too simple, but if you are looking to buy a vacation home, make sure you choose an area that you are certain you love spending time in.  In most cases, it is best to visit several times before you confirm it is a place you would like to invest. Consider factors like logistics and convenience, how easy or difficult is it to get to from your current home? Is it close to the places you like to spend time at when you are in the region?
  2. Estimate Maintenance and Carrying Costs
    Look into what you will be spending on property taxes, insurance, and any caretaking that you will need to have done while you are away. Factoring these costs into your budget will help you make a more informed decision when comparing properties.
  3. Talk to the Locals and Do Your Research
    The more you can learn about the area, the better. Of course, you will want to work with a trusted REALTOR® who knows the area, but talking to the locals is a great way to get a feel for the location as well.  Ask about what the region is like during the off-season. Learn more about the weather year round, local businesses, and if the area is growing. You might learn something that will help shape your purchase.
  4. Decide How You Will Use Your Vacation Home
    Decide in advance how you will be using your vacation home. Do you plan to live there seasonally or for weekend getaways? Do you intend to use the property to generate rental income or will it be primarily for family use?
    If you are financing the home, you could purchase it as either a second home or an investment property. The difference between the two is whether or not you are able to use the property to generate rental income. Each option has its own pro and cons.Are you ready to get started? To learn more, reach out to a Marketplace Home Mortgage Loan Officer. They can help you prepare for your purchase and determine the loan program that is best for you.

New Hires in Michigan and Florida

Al Duoba

We are pleased to welcome new team members to more branches across the US.

Al Duoba has joined MPH Mortgage in Novi, MI. With over 25 years of experience in the mortgage lending industry, Al has worked as a Loan Officer, Branch/Sales Manager, and Broker Owner.  When asked why he chose to work with MPH, Al says, “I saw Marketplace’s innovative approach of using Marketing Coordinators, a solid product line, and their On-Time Closing Guarantee as real differentiators in the marketplace.” He joins our Novi office as the Branch Manager where he will serve home buyers and help grow MPH’s presence in South Eastern Michigan.

Jeremiah Rogan

In Florida, we welcome two more new key hires. Jeremiah Rogan and Tina Lou Lang will be joining the Marketplace Home Mortgage team as members of our Wellington branch. Jeremiah will operate as the Branch Manager and Tina will be serving as a Senior Loan Officer. Together they will be using their years of experience, combined with Marketplace Home Mortgage’s tools, to provide homebuyers with a top tier mortgage experience.

Rogan writes, “I am very proud of the company I am part of because Marketplace Home Mortgage shares my intense desire to make a difference in each and every client we work with, the need to be the best by providing the best.”

Tina Lou Lang

Tina Lou Lang’s reputation for excellent customer service precedes her and aligns perfectly with Marketplace Home Mortgage’s commitment to client satisfaction.  Having built her business on a strong referral network we are pleased that she will be bringing her expertise to MHM.

 

 

 

Marketplace Home Mortgage Expands into Iowa

Sara Lindecker
Senior Mortgage Loan Officer, Sara Lindecker NMLS# 746725

We are excited to announce that Marketplace Home Mortgage will be adding an Iowa market to our growing list of service areas and locations.  As part of this expansion, we will be welcoming Senior Loan Officer, Sara Lindecker, a 15-year veteran of the Dubuque area market.

“Sara’s experience gives us an anchor in eastern Iowa as we expand across the state,” said Marketplace Business Development Manager Craig Nester. “She’s the perfect ambassador to show Iowans how Marketplace outperforms our competition.”

Lindecker grew up in the tri-state area and says Marketplace’s advanced technologies focused on home buyers and Realtors – like the mobile app which lets them check the status of their application and upload documents – present a new opportunity for her to provide exemplary service to her clients.

“Dubuque’s strong housing market means real estate agents and lenders will compete for the chance to serve home buyers,” Lindecker said. “I’m excited to work for a company that’s always thinking about how best to serve those customers.”

“Our unique approach to serving real estate partners and home buyers has made Marketplace a sought-after commodity,” says CEO Keith White. “Loan officers like Sara are phenomenal relationships builders in the markets they know best, and these are the people that will allow us to grow across the U.S.”

Marketplace Home Mortgage’s South Dakota Team Continues to Grow

We are excited to announce that our South Dakota base has continued to expand with the addition of another key loan officer.

Jen Albers

After nearly 15 years as a mortgage loan officer at a large bank, Jen Albers joins our growing team of home mortgage experts in Sioux Falls. She’ll work alongside Josh Osborne, another new major hire, as a key team member assisting the company’s goal of becoming the No. 1 mortgage lender in the city within a year.

“I’m thrilled to join Marketplace and help South Dakotans find their perfect home,” Albers said. “I am so excited to surround myself with the professionals at Marketplace and continue to learn what has made them so successful.  Through working with the best, I will be able to provide my clients and customers even better products and services.”

Albers said Marketplace’s deep catalog of loan programs and marketing tools convinced her to join the company. She’s also excited to use Marketplace’s industry-leading technology suite, which speeds up and simplifies the loan approval process for every party involved.

More and more loan officers with backgrounds at large banks are joining Marketplace for similar reasons, said Northwest Regional Manager John Showers.

“We’re big enough to offer our team the resources of a major financial institution, but nimble enough to stay on top of industry trends,” Showers said. “New hires see the value in our innovative approach to the mortgage business, such as the security that comes with our On-Time Closing Guarantee.”

Marketplace is continuing to expand our Sioux Falls presence as the area is experiencing major growth in industries like health care.

“We fought hard to bring Jen and Josh on board because they operate with the high level of excellence Marketplace is known for,” CEO Keith White said. “I have great confidence that our new team members in Sioux Falls will deliver the same extraordinary results and bring outstanding benefits to their clients that we are known for in every market we operate in around the country. ”

South Dakota’s Top Loan Producer Joins Marketplace Home Mortgage

top loan producer
Josh Osborne

In his seven years as a loan officer, Osborne has created a respected, experienced group of home mortgage professionals. Last year alone his team executed more than 400 closings. The Sioux Empire Housing Partnership named him 2016’s housing lender of the year. The state Housing Development Authority deemed him the “best of the best” at helping families use its first-time homebuyer program in the Sioux Falls region.

“Josh has built in less than a decade what many people take a lifetime to achieve,” said Marketplace Northwest Regional Manager John Showers. “He matches the Marketplace profile of friendly, expert service with no surprises along the way.”

“We love the people and economics of Sioux Falls. It is a key piece of our strategy in this region and we believe that our unique approach to reaching more consumers will help further enhance the home buying experience for the people of SD,” said CEO Keith White.  “We wanted the right person to expand and lead our South Dakota footprint, and there’s truly no better choice.”

Five Things to Avoid When Seeking A Loan Pre-Approval

When you are preparing to buy a house it’s important to make sure your finances are in order and well-documented.  There are a number of things you should avoid doing financially as you prepare to seek a loan pre-approval, and some of them might surprise you.   Even after you have been pre-approved you should be cautious to make sure that nothing disrupts your final closing. Here are five things you should not do to ensure a smooth loan process.

  1. Don’t Apply For New Credit

    Changes in credit can cause delays, change the terms of your financing, or even prevent closing. If you must open a new account (or even borrow against retirement funds) consult your Loan Officer first.

  2. Don’t Change Jobs

    Probationary periods, career changes, or even status changes can be subject to very strict rules when it comes to mortgages. This includes changing from a salaried to a commissioned position, requesting a leave of absence, or accepting a new bonus structure. If you think a change in your job might affect your ability to secure financing speak with your Loan Officer.

  3. Don’t Make Undocumented Deposits

    Primarily large but sometimes even small deposits must be sourced unless they are identified. Make copies of checks and deposit slips. Keep your deposits separate and small. Avoid depositing cash.

  4. Don’t Wait to Liquidate Funds From Stock or Retirement Accounts

    If you need to sell investments, do it right away and document the transaction. Don’t take the risk that the market could move against you which could leave you short of funds to close.

  5. Don’t Ever Be Afraid to Ask Questions

    If you’re uncertain about what you need or what you should do, your loan officer will be there to help you through the loan pre-approval process, even long before you intend to buy.

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