Alvin

"Your mortgage specialist!"
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  • Real Estate Pro
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  • Cavalier Mortgage Group
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  • (757) 333-9033
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Alvin, Real Estate Professional in Virginia Beach, VA
  • 43 Answers
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  • 15 First Answers
  • 7 Useful Answers
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About Me
I am a mortgage broker with Cavalier Mortgage Group. Whether you are a first time homebuyer or seasoned investor, let me offer you the best financing options available! Specalizing in Conventional, FHA, & VA loans.
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Alvin's Questions (0)
Alvin's Answers (43)
Amy, Other/Just Looking in Manassas, VA

I want to borrow a small loan to help with my mortgage payments for just a few months. Is this a good idea?

Asked Fri Dec 5 2008, 08:19 by Amy  -  General Area in Manassas  -  5 answers
Alvin answered:
Amy,

Give me a call for refinance options, if that's something you'd like to explore. Otherwise, your current lender may be able to do a defferal for 1-2 months (skip payments, and add to end of term). Rates are great!

Kindest regards,

Alvin Lapitan
Sr. Mortgage Specialist
Cavalier Mortgage Group
877-534-7420 - Fri Dec 5 2008, 08:41
Michelle H, Both Buyer and Seller in New Bern, NC

We military and moving to VA Beach. Should we buy or rent?

Asked Mon Aug 25 2008, 20:18 by Michelle H  -  Home Buying in Virginia Beach  -  15 answers
Alvin answered:
Good morning Michelle,

VA rates are now as low as 5.375%! More reason to buy now...look at my answer below and the savings would be greater. Let me know if I can be of assistance!

Kindest regards,

Alvin Lapitan
Sr Mortgage Specialist
Toll Free: 877-534-7420
alapitan@cavaliermortgage.com - Wed Dec 3 2008, 06:02
Hi Michelle - for a minimum of 5 years - I advise you to buy as well. 1-2 years - rent, 3-4 - maybe, 5+ definitely. Reason being that VB has always had a positive increase in home values throughout any long term period. Even if the market flatlined, and you took out a $300k mortgage, for a 30 year fixed, fully amortized payment at 6.25%, you would owe $279,600 on the balance, and have at least that much in equity. Also realize that the potential tax benefits alone would put money in your pocket annually that you wouldn't get with renting. As long as you get a good deal, and pay down your principal on your mortgage, it should work out. Give me a call to discuss any financing options, I've been in Virginia Beach for over 25+ years, and specialize in all types of loans, especially VA loans!

Thanks,

Alvin Lapitan
Sr Mortgage Specialist
Toll Free: 877-534-7420
alapitan@cavaliermortgage.com - Tue Aug 26 2008, 06:08
Kay, Home Buyer in Virginia Beach, VA

What are first time home buyers supposed to do now with out down payment assistance?

Asked Sat Nov 29 2008, 11:58 by Kay  -  Home Buying in 23464  -  7 answers
Alvin answered:
Hi Kay, realize that they did away with the DPA programs to benefit the economy. They found that those who had no vested interested (their own money down) had a higher foreclosure rate than those that did. As the others mentioned below, there are still very few options without at least 3.5% down (FHA). VA and VHDA still have 100% available. Look at it from a lenders perspective, if someone wants to buy a $250k home and they don't at least have the $8750 down, it shows a lack of availability for saving. Homeowner's will tell you that emergencies and unexpected events happen all the time with a home. Believe me, as a mortgage broker, a part of me wishes they were still around so I can have the extra business, but another part of me knows that its for the overall good of the economy. So to answer your question - save some money, or get gift funds from a family member...or give me a call to see if you qualify for any of the other programs. - Sun Nov 30 2008, 12:37
VB HOME BUYER, Home Buyer in 23451

What happens after an auction when the properties don't sell? i.e. Sanctuary at False Cape

Asked Tue Nov 25 2008, 14:59 by VB HOME BUYER  -  Home Buying in Virginia Beach  -  10 answers
Alvin answered:
Hi there VB Home Buyer,

I agree with Drew, he's got some good points there. The builder wanted to get a littlie cash infusion going. I am actually working on a contract right now for someone who has a contract on one of the other units, that was not sold at auction. I'd love to work with you if you're seeking financing!

Kindest regards,

Alvin Lapitan
Cavalier Mortgage Group
757-333-9033 - Tue Nov 25 2008, 15:39
Garry, Home Buyer in Stafford, VA

how long to go to closing on va loan after appraisal?

Asked Wed Nov 12 2008, 10:39 by Garry  -  Home Buying in Stafford County  -  2 answers
Alvin answered:
Hi Garry,

This question should be best answered by your loan officer. If you're not fully content with his/her service, please feel free to give me a call. If there isn't a target date on the contract to close, then it should generally only take about 7-10 business days. Rates are dropping today! VA Rates (30 yr fixed) should be around/between 5.75% - 6.125%.

Kindest regards,

Alvin Lapitan
Sr. Mortgage Specialist
Cavalier Mortgage Group
Toll Free: 877-534-7420
alapitan@cavaliermortgage.com - Wed Nov 12 2008, 10:56
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Experience
Latest:
Sr. Mortgage Specalist for Cavalier Mortgage Group
May 2005—present
Previous:
Financial Center Manager for BB&T
April 2000—April 2005
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