Mid-Atlantic Mortgage Girl

Realtor Friends! 🚀

Ready to Power Up your real estate game? Join our exclusive 90-day Realtor Accountability Group. Our Q4 group is starting October 1st! 🍂

This isn’t just another group – it’s 90 days of serious growth, motivation, and connection. Here’s what you get:

✨ Weekly mastermind Zoom sessions to brainstorm and strategize.
✨ Four days a week of prospecting power-hours to stay on track (muted, but connected).
✨ 1-on-1 check-ins to crush your goals.
✨ Monthly in-person networking with fellow go-getters.
✨ A private Facebook group for sharing tips, resources, and more.

All you need to bring is your drive and a positive mindset!

Schedule a quick call with me here if you’re ready to take your business to the next level and want to know if this is the right group for you! 💥 https://bit.ly/4g8ZHhy

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Thank you, Joe, for this 5-Star Review! We are so grateful to be able to provide our clients with the tools they need to make educated and empowered real estate decisions! 👏

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

Home Equity Loan vs. HELOC: Which One's Right for You?

🏠 When it comes to personal finance, finding the right borrowing strategy can feel like navigating a maze. Home equity loans and lines of credit (HELOCs) are two popular options for homeowners looking to tap into the value of their biggest asset: their home.

So, which one makes sense for your situation? 🤔 Let’s break it down!

Home Equity Loans 📉

Think of a home equity loan as getting a lump sum of cash based on the equity you’ve built up in your home. It comes with a fixed interest rate and a set repayment plan. 💵

How It Works: Say you have $100,000 in home equity. You could potentially borrow up to 85% of that amount, which means $85,000. 🏦 You can then use that money for things like consolidating debt, making home improvements, or funding a big purchase. 🛠️

Why It Might Be Right for You: The big benefit here is stability. With a fixed interest rate, you know exactly what your monthly payments will be for the life of the loan. 📆

Home Equity Line of Credit (HELOC) 📈

A HELOC, on the other hand, is more like a credit card tied to your home’s equity. You have a credit limit you can borrow against as needed, and the interest rate is usually variable, meaning it can change with the market. 🌐 This flexibility makes it a great tool for ongoing or unexpected expenses.

How It Works: Using the same example, a HELOC might give you a credit line up to 85% of your home’s equity. You can borrow as much or as little as you need during the draw period (usually around 10 years) and only pay interest on what you borrow. 📅

Why It Might Be Right for You: The flexibility to draw funds as needed is ideal for projects with varying costs or recurring expenses. Plus, if interest rates go down, you could save some money. Just keep in mind that rates could also go up. 📈📉

Which One Should You Choose? 🤔

Here are some things to consider:

📌 Your Goals and Financial Plan: If you have a big, one-time expense and prefer predictable payments, a home equity loan might be a better fit. But if you need access to cash over time or have varying financial needs, a HELOC’s flexibility could be more appealing.

📉 Interest Rate and Risk Tolerance: If you like the security of a fixed rate and don’t want to worry about rate changes, a home equity loan is a solid choice. If you’re comfortable with some risk and want the chance to take advantage of lower rates, a HELOC could work well.

📝 Repayment Strategy: A home equity loan comes with a fixed repayment plan, which means discipline is key. A HELOC offers more flexibility, but it requires careful management to avoid overspending.

Ultimately, the best choice depends on your personal financial situation, goals, and how comfortable you are with risk. Whether you lean towards the structure of a home equity loan or the flexibility of a HELOC, it’s all about aligning the choice with your overall financial plan. 💼 Using your home’s equity wisely can help you move toward greater financial stability and growth. 🚀

Thinking about tapping into your home’s equity? Give me a call today! 📞

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

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Thanks, Amber! ☺️

When you work with our team, you'll not only receive top-notch service during your homebuying process, but afterward, too! ✅ All of our clients receive a monthly home digest educating them on the value of their home, local real estate updates, how much money they could make from selling, options for refinancing, and much more! 🏡 (We also do some pretty fun giveaways for our clients, too!☕💵)

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

Happy Monday! What dream are you going to put action to today? 🌟

🌟 JUST SETTLED! 🌟
Retiring on the Delaware Beaches! 😎

Today, we're celebrating a wonderful couple who made the big move from Pennsylvania to their dream home on the Delaware beaches! 🏖️

Both retired and living on a fixed income, they were initially exploring options with other lenders. But when they came to us, we knew we could help them achieve their goals within their budget ✅

We worked closely with them to secure competitive rates and closing costs that fit their needs. They chose to partner with us, and we couldn’t have been more honored! Over the next 28 days, we worked tirelessly to get them to settlement, and they were an absolute joy to work with. 👏

And the best part? Just days before closing, rates dropped, and we were able to offer them a one-time rate float-down, lowering their rate and adding even more to their monthly savings! 💰

Helping our clients save money and make their dream moves is what we’re all about. Congratulations to this couple—we wish you nothing but happiness in your new beachside paradise! 🌅

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

Worried that your low credit card balances are hurting your scores? Don't be! 🙌

It's a common misconception that the limit of a credit card is what impacts credit scores. This actually couldn't be more false! 😅

What REALLY matters is the balance versus the limit, the payment history, and how long the account has been open.

Here's why low-limit cards are JUST as important as high-limit cards and how you can use them as stepping stones to rebuilding your credit score:

💳 Low-limit cards are a great way to rebuild your credit

💵 Higher rates won't matter if you keep the balance low!

📈 Limit can increase if used responsibly

Here's how to maximize your points with a low-limit card:

🔹 Use $20-$30 each month
🔹 Pay on the due date
🔹 Repeat each month!

Just remember: When it comes to credit cards, what matters is the balance, your payment history, and how long your cards have been open. If you're trying to get a limit increase or qualify for cards with higher limits, keeping your balances low and having an excellent payment history on your low-limit cards is the key! 🔑

Questions? Leave a comment below or shoot me a message!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

We had an incredible time hosting our monthly Lunch & Learn this week - this month's was on Database Marketing for Real Estate! 🎉 It is always inspiring to see so many engaged and motivated agents ready to take their businesses to the next level.

Grateful for the opportunity to share insights and strategies that can help build meaningful connections with clients. Let's keep growing together! 🏡🌿

Want in on September's Lunch & Learn? DM me your email address and we'll get you on our list to receive updates! 🤩

Business Owners: You Have Mortgage Options! 🌟

Every business owner has a unique financial story to tell. We offer several loan programs to accommodate yours!

“NO-DOC” LOANS 📝
Skip the hassle of extensive paperwork! No need to provide traditional income verification. Perfect for business owners with significant assets or alternative income sources.

BANK STATEMENT LOANS 💳
Use your personal or business bank statements to qualify. We analyze your cash flow rather than relying on tax returns, making it easier for you to get approved.

PROFIT & LOSS LOANS 📊
If your profit & loss statements tell the true story of your income, this option is for you. Ideal for businesses with fluctuating income or significant write-offs.

“FULL-DOC” LOANS 📑
If you prefer the traditional route and can provide complete documentation, we’ve got you covered. Enjoy competitive rates and terms with our full-doc loan programs!

As a business owner myself, I am passionate about helping other business owners meet their next financial and real estate goals. 🏆 Let's work together to see how we can make yours happen!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS 368319

Five-Star Realtor Testimonial!
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Thank you, Stacy!! It's an honor to work with great real estate agents like you!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

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JUST SETTLED 🏡🎉
Mother-In-Law Saves The Day! 💪

We recently had the privilege of working with a wonderful family who reminded us that homebuying is truly a team effort! 👏

Our client was thrilled to be purchasing a new home with a close family member, but mid-transaction, things took an unexpected turn. The family member's company experienced layoffs, which put the home purchase in jeopardy, because our client didn't qualify on her own. She was heartbroken, thinking they might lose her dream home. 😔

Enter our client's amazing mother-in-law! 🌟 Just a few weeks prior, she had worked with us to do a cash-out refinance in preparation to gift our client the majority of the funds needed for her home purchase. When she heard about the situation, she didn’t hesitate to step in as a non-occupying co-borrower to help her son and daughter-in-law keep their dream alive. 💪

We worked quickly to make sure that our client's mother-in-law qualified with her daughter-in-law. Thanks to the mother-in-law's support and teamwork, we were able to make this home purchase happen! This story is a beautiful reminder that with the right people by your side, no hurdle is too high. 🏡💖

If you're facing an unexpected challenge in your homebuying journey, know that we're here to find creative solutions and make your dreams a reality. Let's navigate this together! 🌈

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

25 years ago today, I walked into a small little Mortgage office in Millville, DE to start the first day of my Mortgage Career at Approved Mortgage Capital, LLC! The year was 1999! 😱 I remember my Dad saying if I got the opportunity, to take it , because it would be a good one! I'm so thankful that the owner Ralph Smith (now my friend and mentor) gave me the opportunity to become a Mortgage Loan Officer. He taught me so much of what I still use today! He gave me the opportunity to build a business and life and design it exactly as I dream of. I became a sponge and learned everything I could from as many people as I could, and I still learn so much today. I try to be a student of the Real Estate and Mortgage Industry and whenever I get a chance, I am always glad to share what I've learned with my clients and business partners. It takes a long time to get the pieces of the puzzle fully in place. Weʻve come a long way and I have had some awesome teammates (past and present) that have been very valuable in our companyʻs growth and reputation and my personal development. It has been one heck of a journey with many peaks and valleys and I am ever so grateful for every step along the way! I am very proud of our current team of enthusiastic and committed individuals (Grace Mascioli and Kacey Muhlmichl) who show up every day dedicated to serve our clients and business partners in any way needed to get the job done as it should be. They are very, very valued!! 🙏🏻🙏🏻 Thank you always to my family, friends, clients, business partners and mentors who have always made me feel so supported in building this business. I would be remiss if I did not mention the consistent support of my husband Greg Davis as he always provides the listening ear and rational feedback as I bounce ideas, frustrations and wins off of him day in and day out. He has been nothing but an encourager. 💘 Cheers to 25 years! I think I have 25 more left in me! We’ll see 🤣🤣 Hoping to possibly recruit my daughter sometime in the next decade! Only if she’s interested. We’ll see!! Thanks again! 🙏🏻 Love to All! 💖💖💖

🪖 For veterans, the VA Loan Streamline Refinance, also known as the IRRRL (Interest Rate Reduction Refinance Loan), provides a straightforward path to lower interest rates and enhanced financial efficiency. 💸

IRRRL: A Strategic Financial Move 📈

Imagine this scenario: you’ve been managing your finances with a VA loan, and now the IRRRL program presents itself as a tailored financial strategy. The IRRRL is the VA’s version of a refinance loan, designed to lower your interest rates and reduce your monthly mortgage payments. 🏡

Simplified Elegance: Easing the Refinancing Process ✨

The appeal of IRRRL lies in its streamlined process, often involving minimal credit checks, less paperwork, and a reduced need for a home appraisal. 🏠

Strategic Timing: Maximizing Savings ⏳

Timing is crucial in the world of interest rates. Imagine pursuing IRRRL when rates drop by just 1%. This seemingly modest decrease results in an additional monthly savings, accumulating to a significant amount saved over the life of the loan. 📉

Navigating Costs: Managing Closing Expenses 💼

While IRRRL is designed to be a financially sensible option, it’s important to consider closing costs. Suppose these costs total $5,000. By rolling these costs into the loan, you reduce out-of-pocket expenses. 💳

Dispelling Misconceptions: The Reality of IRRRL 🧐

It’s essential to address any lingering doubts. IRRRL is a legitimate VA benefit, not a financial mirage. The potential savings are real, and the program stands as a testament to the commitment to supporting veterans’ financial well-being. 💪

Parting Advice: Empowering Veterans through IRRRL 🛡️

The IRRRL program is more than just a financial concept; it’s a tangible strategy that can significantly impact your financial landscape. As you consider the numbers, remember that IRRRL represents a prudent avenue worthy of consideration. It’s not just about reducing interest rates; it’s about maximizing your financial well-being as a veteran. 🚀

Ready to start saving on your mortgage? 📞

Discover the benefits of the VA Loan Streamline Refinance (IRRRL) today! Give me a call to see how you can lower your interest rates and monthly payments. 📲

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

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It is always our pleasure to help first-time homebuyers have an AMAZING mortgage process with us! Thanks for sharing your experience, Joel!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

I truly believe this! 👏

🎉 JUST SETTLED! 🏡
New Beginnings in a New Neighborhood 🌟

Our clients purchased their previous home within the last two years, but the neighborhood ended up not being a great fit for their family. They were ready to find a new neighborhood that fit their lifestyles - so they couldn't pass up on making an offer on this beautiful home nearby that popped up! 🌈

Thanks to their debt ratio, they were able to qualify for this house without a contingency on the sale of their home! This allowed them to get into their new home within 40 days, and not stress too much about selling their home in the same timeframe. 🕒

Some details that sweetened their offer:
✨ They were ready to pay an appraisal gap of up to $15,000
✨ They agreed to a Seller Rent-Back, where the seller remained in the home for another 45 days
✨ They waived a home inspection contingency
✨ And they paid a $15,000 deposit!

We are wishing them many happy years in their new neighborhood! 🎊

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

🎓 How To Get Your Student Loans Out of Default!

(P.S. - This information only applies to Federal Student Loans.)

One out of every ten Americans has defaulted on a student loan. Life happens, and it's nothing to be ashamed about. If you're trying to purchase a home and you have student loans in a charge-off status – you have options. Don't let your student loans hold you back from achieving your goal of being a homeowner. 🏡

If your student loans are already in default and you can't pay them in full, you have two options to get them out of default:

1️⃣ Rehabilitation & 2️⃣ Consolidation

Both are eligible for deferment and/or forbearance once you complete the program. 🛡️

Both typically give you income-driven repayment plan options if you can't afford the previous monthly payment plan. 💰

Both are eligible for loan forgiveness programs once you complete the program. ✅

Once you complete either program, you are eligible for additional Federal Student Aid. 🎓

REHABILITATION PROGRAM

You are only eligible to rehabilitate defaulted loans once. 🔄

Typically, you must make 9 monthly payments in 10 consecutive months to complete the program. 📅

After the 9th payment, your loan servicer will send a request to the credit bureaus to remove the record of default from your credit report! 📈

Any wage garnishment or government payment garnishment does not count towards the 9 payments. 💸

CONSOLIDATION PROGRAM

You must make 3 full payments on-time before you can consolidate. ⏳

You may be eligible for an income-driven repayment plan if you can't afford to make 3 regular payments. 💳

Once your loan has been consolidated, your new Direct Consolidation Loan is eligible for deferment, forbearance, and student loan forgiveness. 📝

Consolidation of defaulted loans does not remove the record of default from your credit report! 🗂️

If your wages are being garnished by a court order, the wage garnishment must be lifted or vacated before you can consolidate. ⚖️

HOW TO APPLY

To apply, you need to contact your loan servicer by phone. You can log into your FSA account to find this information. 🔍

I hope you found this information helpful! I am always here to talk about how your credit may or may not impact your homebuying journey. Reach out today!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

"Easiest 5-Star Rating I've Ever Given."
⭐️⭐️⭐️⭐️⭐️

Thank you, Ally! It was a privilege to help you with your home financing! 😊 We are here for you any time!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

Make every moment count! 🌟

🎉 JUST SETTLED 🎉
🇺🇸 Veteran Couple Settled with a VA Loan 32 Days After Pre-Approval!

We are so happy for some of our most recently-settled clients, this sweet couple! 👫 They moved to Maryland from the South 2 years ago and rented while they took their time deciding exactly where to settle their family long-term.

We have been in touch with them since 2022, answering any questions they had about financing their future real estate plans. 💬

After ramping up their search in recent months, they decided to get fully pre-approved! ✅ Thanks to both of their loyal service time in the military, their VA home loan benefit allowed for up to 100% financing on their new home. 💯 After negotiating through a counter-offer on a home they found, they went under contract and were moving in one month later! 📅

A few factors that sweetened the deal for the Sellers:
💲 Our clients offered $11,000 over list price
💸 Our clients agreed to pay up to $15,000 in an appraisal shortage if needed (and it was!)
💵 A $5,000 deposit

It is always a joy and an honor to give back to our veterans and active service members by helping them with their home financing. 🇺🇸🏠 We love any chance we get to do it!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

📝 Did you know that we offer Bank Statement Loans?

If you’re self-employed, there aren’t enough hours in the day to get everything done. If you’re also in the market for a mortgage, it can be even more taxing!

Fortunately, we offer Bank Statement Loans – sparing you the hassle of gathering tax documents and instead, requiring you to submit bank statements for loans up to $3.5 million. 💵

✅ Minimum FICO credit score of 620
🚫 No mortgage insurance required
🏡 Available on primary, second home, & investment properties
📆 As little as 6 months reserves required

Contact me today for more details!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

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These words from Cindy, a realtor and a loyal client, mean the world to us! Thank you for sharing!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

Agents! Realtor Roleplay is LIVE on Zoom until 9:30AM! 👏

Join us for some quick scripting practice! 👇

Join Here!
bit.ly/3RhPMMB
Zoom ID: 302 275 1876

Yes! 👏 What situation can you choose your attitude in today? 💫

🎉 JUST SETTLED! 🎉
🏡 New Beginnings in Delaware for our First-Time Buyers! 🏡

It was so exciting to get these clients into their first home only 28 days after their pre-approval!

Using an FHA Loan, they only had to put down 3.5% 💰 They also received $14,600 seller assistance toward their closing costs, making the purchase of their beautiful new home much more affordable! 🏠

💬 Some words from our clients: "This was our first time buying a home and it could not have been easier and it was because of Jenel and her team!! When we tell everyone about our home buying process, they are surprised at how smooth it was. They answered any and every question we had with fast response. We appreciated the weekly updates that took a little stress away in what is one of the more stressful events in your life."

FHA Loans can be more flexible with credit, down payment, and seller assistance. We help so many of our clients into homes using FHA Loans — and I'd love to answer any questions you might have about the program. Reach out today! 📞

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

The Ultimate Credit Card Essentials Post! 💳🌟

(🔖 Save this post for future reference!)

THINGS TO KNOW:

💳 Credit cards are the ONLY type of account that impact two sections of your credit score: your payment history and your utilization. This makes them have the heaviest impact!

✅ Having open credit cards reporting positive low balances and on-time payments will gain you the most points each month they report.

📉 If you’re carrying higher balances, pay off the cards with smaller balances first to help offset your overall utilization.

❌ Don’t pay your cards off every time you use them – if the balances always report $0, the accounts look inactive and won’t gain you points.

🏦 The lower your balances when applying for a loan, the higher your scores will be. This will help you with getting the BEST options and rates available at the time!

DO:

📇 Have at least 2 cards open. You need a minimum of 2 cards to really increase your scores.

📉 Keep your balances at 30% or less.

🔄 Set up autopay for the due date to ensure they report a balance and an on-time payment.

💰 Pay more than the monthly minimum. This will increase your chances of getting a limit increase in the future.

DON’T:

🚫 Use over 30% of your limit. This will hurt your credit scores and make you look like a risky borrower.

🔄 Use one credit card to pay off another if it is going to put the balance over 30% on the second card.

🛑 Close cards. When you do this, it stops the payment history and if it has been open for a while, it will cause your scores to drop.

🚫 Keep your balances at $0. If you’re worried about the interest rate, use a small amount of $5-$30 and pay it off on the due date.

TIPS & TRICKS:

📈 You will gain the most points by keeping your balances under 10%.

💳 To keep your balances low, set up small monthly subscriptions on your cards like Hulu, Netflix, Spotify, etc.

💼 If you’re having trouble opening a card, try applying for a secured card.

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

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💬 "We found our dream home and they were able to get us closed in 12 days!!! It was insane seeing these gals work so hard for us. They truly cared about us."

It's our honor to work hard on behalf of our amazing clients! 👏 Thank you so much for the five-star review, Brittany!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319

One of the ways we are actively helping our clients feel that they can afford a home is with our 3-2-1 Rate Buydown Program! 📣

This program allows you to have a lower mortgage payment the first THREE YEARS of your mortgage!

Even better - this rate buydown can be paid for by the Seller! Our 3-2-1 Buydown can be negotiated into your next offer on your dream home. 🏡

👉 Our 3-2-1 Buydown is a great way to ease into your mortgage payment over a few years - especially if you haven't had a mortgage payment before.

❕Another great thing is that there could be a great opportunity to refinance prior to Year 4. And the leftover funds for the pre-paid buy-down (from the seller) can be used towards your refinance if you refinance before the buydown period is over.

Reach out to see if our 3-2-1 Buydown would be a good fit for your next offer!

Jenel Davis
CEO & Mortgage Expert
www.MidAtlanticMortgageGirl.com
Cell: 302-275-1876
Licensed in DE, MD, PA
NMLS #368319