Jesse Byrer - Preferred Lender
Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301
Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifier #3296) is a Delaware limited liability company licensed by the Department of Corporations under the
California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender License #100251; AZ Mortgage Banker License #BK0903027, #BK0909362, #BK0908046,
#BK0908050, #BK0908056, BK#0908057, #BK0908058, #BK0908731, BK#0903112, BK#0903912, BK#0906650, BK#0906913; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC2011; MS Licensed
Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.; Licensed
Banker-NJ Dept. of Banking and Insurance #9932415; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker-NYS Banking Department); Operates as Prospect Mortgage, LLC of
Delaware in OH (Ohio Mortgage Broker Act, Lic # MB.803629.000); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #1740; RI Licensed Lender #20021343LL, Broker
#20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines.
Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.

• History
• Debunk Myths about Home Loans
• Union Benefit Program (UBP) Qualifications
• What types are loans are currently available
• Current Market Conditions
• How you can truly benefit
Let’s get started….

Jesse Byrer
• Purdue Alumni
• Family/Personal
• Mortgage Industry – 10+ years
Prospect Mortgage
• Created on mergers from 2007
• Largest Private Lender (not a bank or broker)
• 7 offices locally (Schaumburg)

• When buying a home you need to put down 20%?
• FALSE – YOU CAN PUT DOWN AS LITTLE AS 3.5%
• If I have a new appraisal done my property taxes could go up?
• FALSE – THE APPRAISAL IS FOR THE LENDER NOT THE LOCAL COUNTY
• I don’t have perfect credit can I still get a HOME LOAN?
• YES – WE LEND DOWN TO 580 CREDIT SCORE
• the best deals go to Cash Buyers so I don’t stand a chance when trying to buy a REO?
• FALSE – LENDERS WANT TO LEND TO OWNER OCCUPANTS, NOT INVESTORS

• Who Qualifies Union Members & Family Members!!
• What Types of Loans are Available
Purchase
FHA 203B/203K
FHA 203K
CONVENTIONAL
VA
JUMBO
HOMEPATH/RENO
HOMESTYLE
Refinance
RATE & TERM
CASH-OUT
DEBT CONSOLIDATION
SHORTER TERM
DU REFI PLUS (HARP)
OPEN ACCESS
FHA STREAMLINE

Niche Programs
• Renovation Lending - home improvements are rolled into the mortgage
• New Opportunity Program – credit scores from 639-580
• Second Chance Program – 12 months outside of a BK or Foreclosure
• Investor Programs – can finance up to 10 properties (little as 10% down)
• REO/Foreclosure Financing – most banks won’t touch these properties
What I don’t do… new construction stand alone 2nds/HELOCs bridge loans construction loans commercial loans (5+ units/apts./etc.)

Average Home Prices in Arlington Heights
• Median Household Income - $76,558
• Est. Median House Price - $439,690
Average Home Prices in Palatine
• Median Household Income - $63,756
• Est. Median House Price - $417,614
Average Home Prices in Hoffman Estates
• Median Household Income - $72,848
• Est. Median House Price - $357,223
Rate Comparison:
Arlington Heights
5.0%
4.5%
Savings
** data collected by www.city-data.com
figures based on 2011 **
$2,360
$2,202
$156

Rates poised to go up in 2014
The 10-year yield has climbed from 1.76% at the end of 2012.
Growing confidence over the U.S. economic outlook has dimmed the allure of Treasury bonds as a haven. Investors have also shed bondholdings as the Fed will start scaling back its $85 billion a month bond buying this month …
Article by Min Zeng WSJ
Updated Jan. 2, 2014

Home prices poised to go up in 2014
The 10-year yield has climbed from 1.76% at the end of 2012.
Growing confidence over the U.S. economic outlook has dimmed the allure of Treasury bonds as a haven. Investors have also shed bondholdings as the Fed will start scaling back its $85 billion a month bond buying this month …
Article by Min Zeng WSJ
Updated Jan. 2, 2014

Homebuyer’s SOLD ALERT - Nosy Neighbor
• Monthly email on what’s on the market and what’s sold in your area
Homebuyer’s Scouting Report (app on your smart phone)
• Can search for homes for sale (more properties than Zillow, Realtor.com, etc.)
• Detailed property description
•Provided turn by turn directions
• Schools in the area
• Links with Facebook.com to keep friend and family in the loop

• Race, color, religion, national origin, sex, age and marital status
• Salary, occupation, title, employer, date employed or employment history
• Where you live
• Interest rate being charged on a particular credit card or other account
• Child/family support obligations or rental agreements

• Low Credit Score = Higher Interest Rate
• Mortgage Loans (higher rates reduce your buying power)
• Credit Cards
• Auto Loans
• Insurance Premiums

The rates shown are averages based on thousands of financial lenders, conducted daily by
Informa Research Services,
Inc. The 30-year fixed home mortgage APRs are estimated based on the following assumptions.
FICO scores between 620 and 850 (500 and 619) assume a Loan Amount of
$150,000, 1.0 (0.0) Points, a Single Family - Owner
Occupied Property Type and an 80% (60-80%)
Loan-to-Value Ratio.
APR Source: © 2006,
Informa Research Services,
Inc., Calabasas, CA. The information has been obtained from various financial institutions and
Informa Research Services cannot guarantee the accuracy of such information.

• Pay all accounts that are past due
• Past due accounts can = 1 day late
• Severely hurt credit score
• Past due accounts do not include:
 Judgments
 Collection accounts
CREDIT SCORE SIMULATIONS
Fico Score 1 Missed Payment – (25 – 60 Decrease)
670 610-645
Fico Score Missed Payments & Bankruptcy (120-170 Decrease)
670 500-550

• Phone creditor and request late payments be removed and mistakes corrected
• Be persistent – Work your way up the ladder
• Always get a letter that documents:
 Name/address/account number
 Specific late to be removed or mistake corrected
 On company letterhead -- signed by employee

• The person applied for credit under different names (Robert Jones, Bob Jones, etc.)
• Someone made a clerical error in reading or entering name or address information from a hand-written application
• The person gave an inaccurate social security number, or the number was misread by the lender
• Loan or credit card payments were inadvertently applied to the wrong account

• Every six months request an increase to credit limit on credit accounts
• Have creditor base increase on credit history
• If creditor must pull credit, do not continue; will lower credit score
BECOME AN AUTHORIZED USER
• Ask a relative or friend to add you to credit account
• Confirm the following items:
 Current balance below 10% of limit
 Good payment history
• No risk as credit card goes to account holder

• Keep all accounts open
• Use old accounts periodically – charge small amount - pay off immediately
• Closing accounts with a long credit history will hurt credit score

• Borrow when you do not need it
• Keep balance to limit ratio low
• When creditor removes lates, corrects mistakes and provides letter – use credit rescore
• Never payoff a collection/judgment when applying for a mortgage loan
• Increasing credit score by 10 points = Interest savings of $100,000 over 30 years ($500K mortgage loan)

Union members receive a gift card after closing in the amount of $750 on purchases or $500 on refinances*.
Call (855) LOANS-79.
 Jesse Byrer
Loan Officer, NMLS# 728876
Direct: 847.273.2014
Cell: 312.730.5250
JesseByrer@Prospectmtg.com
www.BUYwithBYRER.com
*To be eligible you must be one of the following: a dues paying labor union members, a union member retirees, a spouse or domestic partner of a dues paying labor union member, a parent or child of a dues paying labor union member. Eligibility will be determined at time of application. Mortgage loans are available in the United States only, not available in MO or OH and currently not available in Canada, Guam, Puerto Rico or Virgin Islands.