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Boise Home Loan Podcast

Jeff Lake of Mountain West Bank unravels some of the myths of today's home loans. Are Boise banks still lending money for homes? you bet but the rules have changed, though anyone can get one, here is hte scoop.

Jeff Lake
Mountain West Bank
O 208/ 884-6851
M 208/371-1508
JLake@MtnWB.com

Looking for for Home Loans may not be exactly what you are hearing from the media.

Posted by tlangford at 11/28/2008 4:45 PM

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Comments (2)

Re:Boise Home Loan Podcast

Jeff and Trey,

Great podcast. Extremely informative.

Chuck Miller GMB CGB CGP MIRM CMP MCSP CSP
President - Chuck Miller Construction Inc.

Posted by Chuck Miller on 11/30/2008 11:36 AM

Re:Boise Home Loan Podcast

Cliff notes:
1. Its a great time to buy (surprise)
2. No business would loan cheaply now (hint- they know RE is overpriced), but there are still gov (can you say taxpayer) programs available that resemble sub-prime loans- (expect higher taxes)
3. Are we at the bottom--well at least the industry isn't just saying housing NEVER goes down anymore
4. Should you use an agent (read between the lines- I get a lot of referrals from agents so please use one---that refers me...) THIS ONE DRIVES ME NUTS .....would someone break the 3% union already...I have no problem paying 3% for a ggod agent, but there is no real price competition which is the halmark of a monopoly! I want a 1% or 2% option (widely available) so I feel I am not being gamed EVEN IF I CHOSE TO PAY 3%.
5. Foreclosures- difficult (read often cut out the RE agent and independent brokers) take a long time....sheash...save 10-20% ON THE MOST EXPENSIVE THING YOU MAY BUY IN YOUR LIFE BUT CAN'T Wait a few extra weeks.

Overall, I think we can get Jeff back to give us a level below the spin...

Whats his normal versus gov back loan percentage...has this gotten better or worse over the last 3-6 months?
Refinance levels now vs 6 months ago?
How many of his loans are in foreclosure from 2006 or 2007? (Does he even know? (FYI- a GOOD AGENT follows up)
What are the differences in financing (ability now) by type-condo/SFH/Ag etc... also by region (Garden C, Kuna, Star, etc...)?
If I am getting a gov loan how does he make money? How many pts does he take now versus yr ago average?
Any lenders blacklisted the TV?

Posted by emdeplam on 11/30/2008 12:00 PM

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