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Todd
Galde

Sr. Mortgage Advisor
NMLS #256864

Advising. Smart. Financing.
This simple statement anchors our business and guides everything we do for our clients. Advising smart financing is what the team is all about. It shapes our approach, informs our actions, and aligns our efforts.

Advising.
Are we guiding you to the best solution? Are we listening to your needs and wants? Are we considering your “sleep factor”, that monthly payment that allows you and your spouse to sleep soundly at night? Are we taking in to account your long-term financial goals and aspirations… YES.

Smart.
Are we calculating the numbers correctly? Are we following the market on your behalf, watching the ebbs and flows of interest rates? Are we providing Total Cost Analysis projections tailored to your specific situation and your financial state? Are we on top of underwriting requirements, guidelines and procedures, confirming that you are truly approved for a mortgage? Do we meet deadlines, close of escrows and contingencies… YES.

Financing.
Do we have an innovative array of residential financing options? Are we are direct lender, delegated to Fannie Mae, Freddie Mac, Ginnie Mae and many Jumbo investors like Chase, Wells Fargo and others? Do we have answers for 1st-time home buyers, foreign nationals, buyers who need to renovate, low FICO scores, high DTI ratios, Non-QM, 1st/2nd purchase combo solutions…YES.

Your advisor for life,
Todd Galde

Awards and Recognition

  • Chairmans2015
  • Chairmans2016
  • Branch: San Ramon
    3130 Crow Canyon Place #300
    San Ramon, California 94583
    Direct: 925-394-7732
    Cell: 925-381-8190
    Fax: 925-394-7697
    Email:
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Recent Posts

  • by W. Todd Galde
    August 11, 2017

    Fannie Mae Student Loan Guideline Change

     

    A few weeks ago Fannie Mae implemented new guidance for the qualifying of student loans that will undoubtedly help get more borrowers get approved to buy a home!

     

    Until recently, many student loans that were not yet in the repayment phase, or with a current payment of $0 were qualified at 1% of the loan balance – which routinely caused DTI’s to be pushed above the allowable thresholds. For example, a $25,000 student loan with payments deferred for several years would have to show a $250/month payment in the past. This undoubtedly affects the debt-to-income ratio of the buyer.

     

    Following Fannie’s recent clarification, fewer student loan situations will require the use of a higher payment than what is currently required.

     

    Under the new guideline changes, if a monthly student loan payment is provided on the credit report, the lender may use that amount for qualifying purposes... OR...

     

    If the credit report does not provide a monthly payment for the student loan, or if the credit report shows $0 as the monthly payment, the lender must determine the qualifying monthly payment using one of the options below.

     

    1. If the lender obtains documentation to evidence the actual monthly payment is $0, the lender may qualify the borrower with the $0 payment as long as the $0 payment is associated with an income-driven repayment plan.
    2. For deferred student loans, or ones in forbearance, the lender may calculate
      1. a payment equal to 1% of the outstanding student loan balance (even if this amount is lower than the actual fully amortizing payment), or
      2. a fully amortizing payment using the documented loan repayment terms.

    This is great news for young millenial buyers who have entered the work force and looking to purchase their first home.

     

    Advising smart financing,

     

    Todd Galde
    ​​​​​​​925-381-8190

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