You may have heard that interest rates are at an all-time low. Patrick Davidson and Guild Mortgage will tell you that now is the time to ask the question – “Can I buy my own home?” And, in the process of researching that answer, they will make it easy for you to buy your first home or refinance your existing mortgage. “It’s an exciting time”, reports Davidson. “Buyers are still holding the cards. House prices continue to stay at 2001 prices and rates are at a lifetime low,” explained Davidson (NMLS #114110).
Guild Mortgage (NMLS #3274), a San Diego based company with a local office in Lacey, has been originating and servicing loans for 50 years. “All we do is mortgages”, explained Davidson when asked about the difference between traditional banks and mortgage banks. “We have direct lending capabilities which means that we can service our own loans. Some loans are sold after closing on the secondary market and some loans we keep,” described Davidson.
As a Senior Loan Originator, Davidson has been helping people buy a home for over a decade. Davidson maintains connections in the community by serving in the Gateway Rotary and is a Past President of the Lacey Chamber of Commerce. “One of my favorite aspects of this job is being able to facilitate several roles for my customers – expert, advocate, originator,” noted Davidson. “Nothing else has a price tag and 30-year commitment like a home,” said Davidson.
He explained that with its own underwriting department, Guild Mortgage can make its own decisions about writing loans. “For example,” clarified Davidson, “with VA/FHA loans we can lend to borrowers with a credit score as low as 600 whereas other lenders may not go lower than 680.”
Davidson said, “We have a mindset that we want loans to happen. If a customer is really able to perform by repaying the loan, then we find a way to make it work in the customer’s best interest.”
