VL4 - The VA Lady

VL4 - The VA Lady

V.A. LOAN LADY

V O L . 4 | M A Y 2 0 2 2

CONTENT S

17 BUILDING A CULTURE OF CARING

4 LEARN ABOUT WHAT I DO

21 MOVEMENT MORTGAGE OUTREACH

2 MEET DENISE 3 MOVEMENT MORTGAGE 5 HOW TO PREP FINANCIALLY BEFORE APPLYING FOR A HOME LOAN 9 6 REASONS TO HAVE HOMEOWNERS INSURANCE 12 8 THINGS FIRST-TIME HOMEBUYERS SHOULD KNOW ABOUT HOMEOWNERS INSURANCE 15 MOVEMENT MILITARY

19 WHAT IS A TITLE SEARCH?

20 HOW TO PREP FINANCIALLY BEFORE APPLYING FOR A HOME LOAN

24 STATE LICENSING POLL

25 SUMMER HOME MAINTENANCE CHECKLIST

27 SUMMER FUN THINGS TO DO

MEET DENISE In 2017, I was an Air Force spouse of 14 years, trying to make a few pennies crocheting and selling my wares. We were purchasing our second home near Ft. Gordon, GA, and our Loan Officer happened to be a fan of the same football team as my husband and I. We became friends, and when he decided to open up his own Mortgage branch, he pitched the idea of me becoming a loan officer. I had no experience originating loans but had experience in sales. I also had a passion for helping my own military community. From that random meeting in 2017, The VA Loan Lady was born. My passion is to help borrowers, especially those in the military community, buy homes with the knowledge of knowing what is actually happening during the transaction. I pride myself on communication and will explain something 100 times if it helps the borrower feel more comfortable during the process I am highly experienced in VA loans, as well as educating my borrowers. I have videos that help break down the process of obtaining a home loan and what to expect. I’m known for excellent communication and my empathy towards my borrowers. I’m proud that I can say my passion for helping others, especially my own military community.

Movement was created to be different. Founded in 2008, amidst one of the biggest financial meltdowns in American history, Movement set forth on a mission to create a Movement of Change in our industry, in corporate cultures and in communities. First, we pioneered a unique approach to home loans centered around helping homebuyers, quickly and easily. Then, we created a model so that our profit creates a long-term positive impact in communities both close to home and around the globe. For our borrowers, we commit to building relationships based on communication. We get it home loans can be confusing and stressful – But they don’t have to be. And we work to make sure they aren’t. It all comes back to our mission, to love and value people in everything we do.

LEARN ABOUT WHAT I DO

Whether you’re buying, selling, refinancing, or building your dream home, you have a lot riding on your Loan Officer. Since market conditions and mortgage programs change frequently, you need to make sure you’re dealing with a top professional who is able to give you quick and accurate financial advice. As a seasoned loan officer I have the knowledge and experience you need to explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal, and I am committed to providing my customers with mortgage services that exceed their expectations. I hope you’ll browse my website, check out the different loan programs Movement Mortgage has available, use my decision-making tools and calculators, and use our secure online application to get started. After you’ve applied, I’ll call you to discuss the details of your loan, or you may choose to set up an appointment with me using my online form. As always, you may contact me anytime by phone, fax, or email for personalized service and professional advice. I look forward to working with you.

How to prep financially

before applying for a home loan

DETERMINEWHAT YOU CAN AFFORD The saying “house rich and cash poor.” refers to homeowners who buy a roof over their heads that is — financially —WAY over their heads. Their income can barely make the monthly payments, more repairs are necessary than they bargained for, and utility bills and taxes might be higher than expected. They own a house that is keeping them from enjoying their lives. Living like this is no way to be, and once you’re in that mess, it’s hard to extract yourself from it. To avoid this scenario, take a hard look at how much you spend versus howmuch you earn. To determine where your money goes, create a budget by reviewing the last three months of your spending habits. Focus on things you must pay for each month — groceries, student loans, car payments, medications, and commuting or internet costs — and exclude things like eating out, concerts, and vacations. To get the percentage of your income you’ll need to put aside for necessary expenses — not including rent — take that number and divide it by howmuch money you make every month, before taxes. With that total in mind, you can use an online mortgage calculator to determine the price range of a home you can afford. Lenders suggest homebuyers cap their expenses and mortgage payment at less than 45% of income.

Taking the training wheels off your first bike Proposing to the love of your life Your wedding day You need to prepare for plenty of milestones in your life. So why does applying for a mortgage seem to be an afterthought for so many? We think it’s because many people — typically renters who haven’t bought their first home yet — happen upon an open house or see an online listing for a home for sale and get swept up in the “I’ve gotta have that house” frenzy. They rush to a local mortgage company and are kind of in shock when they realize that the process of applying for a mortgage is a lot more challenging than finding a home they’d like to live in. It takes time — and a little math — to find your monthly payments comfort zone. Have you looked at your bank statements lately? Your credit report? Before rushing into things, maybe it’s a good time to tidy things up a bit — financially speaking, of course. HIT THE BRAKES Let’s slow down a little — around 3-6 months — and consider what it takes to be ready to buy a home. Here are eight tips you should follow before househunting in earnest or reaching out to a loan officer.

SET A SAVINGS TARGET Knowing howmuch you can comfortably offer on a home is the first step in calculating what you’ll need to cover the down payment and closing costs. Remember, there are many home financing options out there that require low down payments, but the more you can put down at closing, the lower your monthly mortgage will be. Keep in mind that in most cases, if you put down less than 20%, you may need to pay monthly mortgage insurance on top of your payment. Once you decide on a down payment amount you think you can save, calculate how far away you are from hitting that target number. Then add in property taxes, homeowner’s insurance, estimated closing costs, and other fees. Once again, you’ll do well to talk to a loan officer to better understand what closing costs might be. When you apply for a home loan, your lender will provide you with a detailed breakdown of all these figures, including approximate closing costs, in the form of a “loan estimate,” but you’ll want to get an idea of what that number is now so you can start saving for it. Be smart about it: not having enough cash for a down payment and other expenses may cause some lenders to decline a loan application.

CONSIDER ALL THE INCIDENTALS On the topic of saving, there are plenty of other expenses related to purchasing a home. Property inspections, pest inspections, moving expenses, and appliances and repairs can all add up — all at the same time. You might want to create a separate bank account just for these expenses. Once you know howmuch you need to save — and have a better idea of how long that will take — you can estimate just how soon you can comfortably start shopping for a home. CHECK YOUR CREDIT Every year, you can get a free credit report from each of the three main US-based credit bureaus: Experian, Equifax, and TransUnion. Better yet, go to your bank or annualcreditreport.com for a free annual credit report. Looking up your credit won’t give you the complete picture that mortgage lenders use when assessing your creditworthiness, but it gives you a glimpse of whether or not there is anything strange or worrisome on your report. If there’s something that shouldn’t be there – like a late fee or missed payment – you’ll want to take care of it sooner rather than later, as an improved credit score will help you get a better interest rate.

SAY NO TO CREDIT OFFERS While we’re discussing credit, it’s a good time to point out how prospective homebuyers need to put the brakes on making big purchases or opening new lines of credit cards. Don’t open any mail from credit card companies pitching a new card with great benefits. Skip the cashier offering 10% off a single purchase just by opening a charge account. New credit can lower your score for up to a year, which in turn will undoubtedly impact your plans for getting a mortgage at a great rate. WATCH THE PAPER TRAIL Shuffling money back and forth between your checking, savings, and investment accounts is okay most of the time, but when you apply for a mortgage, it can create a paper trail nightmare. Try to curb this practice at least three months before applying. PAY YOUR TAXES Be sure that you’ve made all tax payments due for past tax years. Being on a tax payment plan — one where you pay off back taxes owed in smaller monthly payments – add to your debt burden when you’re trying to qualify for a loan and are roundly frowned upon. Try to pay all your back taxes before even thinking of buying a home.

ASK FOR HELP It’s okay to receive cash as birthday or holiday gifts before applying for a mortgage, but if they are large sums, you’ll want to disclose that these are not personal loans that you’ll be expected to pay back after buying a home. Mortgage guidelines typically allow you to accept gifts funds from immediate family members but documenting the receipt of gift funds is very specific, so don’t have gift funds transferred before speaking with a loan officer. They’ll be able to tell you the gifting requirements based on the loan you may be offered. LET’S GO Getting your finances in tip-top condition well before you even shop for a home will help quell much of the stress associated with the mortgage loan process. If you’re a prospective homebuyer with questions about home financing, please reach out to one of our local loan officers to discuss these tips and other essentials, like how much down payment you’ll need or what happens at closing.

"A man travels the world over in search of what he needs, and returns home to find it." ~ George A. Moore

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Things First-time Homebuyers Should KnowAbout Homeowners Insurance 8

Sure, you’re excited about getting a new home. Everything is new and shiny, and it’s fun to plan and unpack and decorate and all that. But let’s get serious for a second: have you made plans to protect your property with homeowners insurance?

Here are two quick facts to help set the stage if you’re a new homeowner (or planning to become one):

According to the Insurance Information Institute’s 2021 Insurance Fact Book, about 93% of homeowners have home insurance. But, according to the Federal Emergency Management Agency, over half of U.S. homeowners don’t carry enough insurance to replace their home and all of its contents in the case of a catastrophic loss. Having homeowners insurance is a smart idea. Here’s why. Having homeowners insurance can mean the difference between experiencing a devastating loss and a manageable one. All it takes is one event to lose your home and, possibly, all your belongings — important papers, memories, furniture, everything. But, if you’re protected by homeowners insurance, your loss may be able to be contained. Let’s look at 8 things to keep in mind about homeowners insurance:

Homeowners insurance protects your home and other property Typically, homeowners insurance policies cover everything from the outer structure of your home to all of the personal belongings inside. This can include replacement costs due to vandalism, theft, fire, weather-related disasters — think tornadoes, hurricanes, high winds, hail — and more. If that stuff is important to you, getting homeowner’s insurance should be equally important. Homeowners insurance can provide a roof over your head Most policy coverage provides for a temporary place to live while repairs to your home are being made. That includes rent or hotel costs, any additional mileage expenses incurred to commute to work or get the kids to school, all of your meals and the extra costs of internet and other utilities or the connect/disconnect fees at your damaged home. Some will even cover the expense of boarding your pets if necessary. Basically, any costs above and beyond normal that are needed to maintain a comparable standard of living following a covered loss should be reimbursable. Homeowners insurance protects your liability Covering more than just physical property, some homeowner’s policies can also protect you in the event of a lawsuit due to someone getting injured while on your property. For example, let’s say you order takeout and a food delivery person gets hurt when they accidentally slip on your front porch, you could be held legally responsible. As part of your homeowners insurance policy, liability coverage can also help pay medical bills, legal fees and even cover some lost wages. Homeowners insurance can protect you even when you’re on vacation Leave an iPhone on the plane? Laptop stolen from your hotel room? They may be covered and reimbursable for replacement if you have homeowners insurance. Sure, travel insurance protects you from delays and disasters like rebooking hotels and airfare, but homeowners insurance can actually cover things like lost or stolen luggage. That’s because it protects your personal property wherever they happen to be! Homeowners insurance may be cheaper if you live near a fire department Fire is one of the biggest risks to homeowners because it moves quickly and can destroy a home in no time at all. But even smoke from smaller, contained fires permeate walls and furniture, requiring replacement. Homes near fire departments can cost less to insure, especially if the organization is a professional, rather than volunteer, fire department in a community with an adequate water supply. You might even pay less if your home is within 1,000 feet of a fire hydrant!

Homeowners insurance may not be dog-friendly We love dogs, but some can make it harder to buy homeowners insurance. Many insurers refuse to sell to owners of specific breeds that have a history of biting, such as rottweilers and pit bulls. Other providers may limit the type of coverage dog owners can purchase. Rules vary by state, so be aware. In some communities, if you file a claim due to a dog bite, your insurer may charge you a higher premium, exclude any future damages related to the dog, or refuse to renew your policy. Homeowners insurance can protect your home equity While making monthly mortgage payments increases the equity you have in your home, renovation projects can increase its value. Homeowners insurance can help you protect that equity, but you must update the policy to reflect improvements. Imagine you remodeled the kitchen but never alert your insurer: you may not be covered if it’s later damaged by fire. And if contractors don’t have adequate insurance — including general liability and workmans’ comp — you could be sued if an employee or subcontractor is hurt on your property. Call your agent before renovating and ask if your policy needs updating. Homeowners insurance may be required by your lender Working with a mortgage lender? Chances are that your loan officer will require a homeowners insurance policy before closing. It may not be required in every state, but most will demand proof of insurance. If you don’t have one, they may offer to secure a policy for you and add the cost to your monthly payments, which could have you paying more than you could if you handled it on your own. Overall, getting homeowners insurance is the smart thing to do and it’s affordable, so take it upon yourself to shop around. No homeowners insurance? Please don’t risk it. If you’re like the 70 million households in America who have homeowners insurance, you’re probably in agreement that living without it is simply not worth the risk. Good thing that Movement has a division to meet your home insurance needs. Movement Insurance is not available in every state yet, but for areas we do practice in, we believe that every customer deserves special treatment. 1.

See if we operate in your state. Use our online quote form. We’ll find the best coverage for the lowest price and deliver a quote to you within 24 hours.

2. 3.

If Movement Insurance doesn’t cover your state — and you’re not a homeowner yet — talk to one of Movement Mortgage’s local loan officers. They will help you get pre-approved for a loan and will be happy to answer any questions about the importance of getting covered.

Movement Mi l i tary

WHY WE EXIST We exist to love and value people by leading a movement of change in our industry, corporate culture, and communities. Movement Foundation is the legal entity we work through to use our profits to uplift others – bringing life to our commitment to loving our neighbors as ourselves. HOW IT WORKS Like other companies, Movement Mortgage pays salaries, taxes, and operating expenses before seeing a profit. But with no investors to repay, the company has more resources for generous investment in communities. HOWWE INVEST Our projects are intentionally designed to be self-sustaining, which is why our schools, health clinics and housing projects can flourish without ongoing fundraising. We partner with other businesses and not-for-profit organizations because the challenges facing society are too big to face alone, but we believe that we can achieve great things when we work together.

Movement Mortgage

Outreach

"The greatest good is what we do for one another." ~Mother Teresa

Want a chance for your response to be in our next issue?

As a Loan Officer with Movement Mortgage my primary aspiration is to help as many people as I possibly can both near and far. In effort of being able to achieve this passionate goal of mine, I am proud to say that, so far, I am licensed in seven states. Florida, Georgia, South Carolina, North Carolina, Virginia, Texas, and Colorado. I am looking forward to growing and expanding my area of reach to help people with all of their mortgage needs, and I'd love to hear from you as to which state/s you think I should add to the list next! Click the (?) below to submit a response and we may feature your response in our next issue of The V.A. Lady! I appreciate your feedback and can't wait to see what states get voted for!

Denise DeFilippo Loan Officer | Military Spouse NMLS #1614230

- Licensed in this state

Home Maintenance Checklist Like a regular health check-up, a home maintenance schedule is important for every house's upkeep. Continuing to check on your exterior, appliances, heating and cooling, plumbing, security, and electrical systems will help prevent breakdowns, save money, and keep your home looking its best. Use this home maintenance checklist to help keep up with the repairs and cleaning around your home.

If any of the jobs go beyond your skill level or lead to more involved repairs, consider hiring a professional to help.

Interior Maintenance Check List

Polish wood furniture and dust light fixtures. Replace the batteries in smoke and carbon monoxide detectors. Remove lint from inside and outside washer hoses and dryer vents.

Clean kitchen exhaust fan filter. Clean refrigerator and freezer coils and empty and clean drip trays. Check dishwasher for leaks. Check around kitchen and bathroom cabinets and around toilets for leaks.

Exterior Maintenance Check List

Have air-conditioning system serviced. Inspect wooden decks, railings, windowsills, and steps for rot. Prune trees and shrubs.

Oil garage-door opener and chain, garage door, and all door hinges. Refinish the deck. Power-wash windows and siding. Replace interior and exterior faucet and showerhead washers if needed.

Summer Time fun in Colorado Springs

Wondering what to do in Colorado Springs? We offer more than 60 area attractions, including trains, museums, parks, a zoo and more. You’ll find no shortage of things to do in Colorado Springs, where the adventures range from mild to wild! Whether you’re looking for outdoor thrills or educational and cultural activities, things to do in Colorado Springs are limitless.

Things to do this Summer in the Springs

Click on the event to see all the details!

Royal Gorge Route Rai lroad This is Colorado's first and only full-service railroad dining experience. The Royal Gorge Route Railroad features beautifully restored mid-century coach, dining, bar and lounge, and dome cars with luxurious seating. Take in the panoramic views from your seat or the open-air car. Full bar and extensive, well-curated wine list always available. Top excursions include Vista Dome, Dinner, Murder Mystery Dinners and holiday family events like Mother's Day Brunch, Oktoberfest and Santa Express Train.

Garden of the Gods The Park is a unique biological melting pot where the grasslands of the Great Plains meet the pinon-juniper woodlands characteristic of the American Southwest and merge with the mountain forest of the 14,115-foot Pikes Peak - America's Mountain. The 300 million years of geological history of the Garden of the Gods in Colorado Springs reveal one of the most extensive pictures of earth history found anywhere in the United States. It is a true geological wonder.

River Runners Family Float Rafting is a beginners’ route that is ideal for families with young kids or first-time rafters searching for a calm, casual trip through Browns Canyon — the most popular destination for whitewater rafting in the country. The family-friendly float is led (and powered) by one of River Runners’ expert guides, with the option for passengers to paddle along or just sit back and relax as they learn about the history, geology and ecology that flanks the Arkansas River. The four-mile, 1.5-hour float ends at the Browns Canyon Riverside Grill for post-raft refueling and is available to book late- April through early-September.

Skateboard Park in Memorial Park The 40,000 square foot skate park in Memorial Park includes amenities such as bowls, a street course, backyard-style pool, a unique "hole-in-the-wall" feature and two vertical ramps - 6-foot and 14-foot. There is also an events plaza with a picnic pavilian and natural boulders for seating.

Helping Hands for Freedom, a 501c3 organization, was founded in 2008 by co-founders Patrick Shannon, who has received the Purple Heart twice and a Bronze Star for his wounds and heroism in Iraq, and Rodney Smith, a former college and NFL standout who has experience with non-profits. While at Walter Reed Medical Hospital recovering from wounds sustained during combat, Staff Sgt. Shannon heard stories from various soldiers who expressed concern about their family and the realities of keeping their house and the struggle of recovering while family members were at home. These stories struck a chord with Shannon, who left a position with the Wounded Warrior Project to co-found Helping Hands for Freedom. The mission of Helping Hands for Freedom is one of supporting military families dealing with death, deployment and loss. The organization assists Gold Star families, which are those surviving family members of a fallen soldier,

along with veterans who suffer from PTSD. In addition, Helping Hands for Freedom offers various programs to the children of military personnel, as well as helping with emergency assistance to military families. In 2015, Helping Hands for Freedom received the Lincoln Award at the Southwest Veterans Chamber of Commerce’s Patriot’s Ball in Tempe, Arizona. The Lincoln Award is presented to a veterans’ advocacy organization that makes outstanding contributions and support military families. In April of 2016, Helping Hands for Freedom began one of its missions, the Route for the Brave, a 3,091 mile walk across America's U.S. 40, to raise funds for Gold Star and military families. Helping Hands for Freedom's past Board Chairman, David Roth and Indiana school teacher, Kevin Winton walked every mile with proud Americans supporting them throughout their journey.

Have Questions? Do you or someone you know have questions about any of the information in this magazine? Or maybe you have questions about a topic I didn't cover in this issue. Please always feel free to contact me. I'm here to help in any way I can!

NMLS #1614230

Movement Mortgage is not affiliated, endorsed, or sponsored by the Department of Veterans Affairs or any government agency. I 1755 Telstar Drive, Suite 300, Colorado Springs, CO 80920 | CO-100511670, FL-L060077, GA-56905, NC-I-192413, SC-MLO1614230, TX, VA-MLO-47020VA Movement Mortgage LLC. All rights reserved. NMLS ID #39179 (http://www.nmlsconsumeraccess.org). Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. For more licensing information please visit movement.com/legal