Jeff Marr

I'm a:	Real Estate Professional
Location:	Folsom

45 Answers
5 First Answers
7 Useful Answers

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About Me

Before getting into the mortgage business 4 years ago, I assisted investors as a stock broker in Roseville CA for 8 years. I personally deal with all my clients on an individual basis, and during the loan process I address the topics of retirement planning, estate planning, leveraging various financial advisors I work with. I never consider a loan to be a one and done scenario, but the start of a lifetime of financial servicing that starts with me, your financial quarterback!

Jeff Marr
Senior Loan Officer,
Stanford Mortgage
916-947-1312

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Jeff Marr's Answers (45)

I'm currently looking at REO properties. I have a solid prequalification from a direct lender,

Asked Thu Oct 2 2008, 14:22 by Mie - Elk Grove - Home Buying - 4 answers

Jeff Marr answered:

Mie - here's a couple pointers regarding credit that hopefully should put your mind at ease regarding your situation. Though you're correct in your assumption that too many inquiries will have an adverse effect on your credit, here's the rule: provided your inquiries (or credit pulls) occur within a 45 day period, this will only count as 1 inquiry provided this is for mortgage purposes. And even better, this single inquiry will only drop your score by an average of 2-5 points. In comparison, you lose roughly 15-25 pts with a 30 day late payment.

If you'd like to know more about how credit works, or want some feedback regarding what lenders are looking for in terms of approving someone for a loan (there's a sizable difference between being pre-approved and actually having your loan fund), feel free to contact me!

Good luck to you Mie,

Jeff Marr
Stanford Mortgage
916-947-1312 - Sat Oct 4 2008, 13:26

Construction Loan for Land Park Remodel/2nd Story Addition????

Asked Fri Sep 19 2008, 11:34 by AJP - 95818 - Financing - 6 answers

Jeff Marr answered:

AJP - please give me a call so I can learn more about your needs. I've got several lenders still offering construction loans, along with some that will do rehab loans.....

Jeff Marr
Stanford Mortgage
916-947-1312 - Fri Sep 19 2008, 22:02

Can we recover all our funds back if we cancel an offer after all parties signed and before closing escrow.?

Asked Sat Aug 23 2008, 23:26 by Maria - Rocklin - Home Buying - 10 answers

Jeff Marr answered:

Maria - what is your realtor advising you to do? I can't imagine your realtor doesn't know about this already. Your realtor can run this scenario by their supervisor/manager as next step if he/she doesn't know how to handle this...

Start from there and you should be able to resolve this!

good luck, Jeff - Sun Aug 31 2008, 12:13

Can I gift money if I am not on the loan?

Asked Wed May 28 2008, 16:09 by Michelle - Vacaville - Home Buying - 5 answers

Jeff Marr answered:

Michelle - more than likely you should be able to do this, there are some exceptions regarding sourcing for these funds, they don't always have to come from a direct relative. I can also help advise you regarding your options for selling stock to as I'm formerly a registered representative.

I would also strongly advise you to fully consider your options regarding titling. Though having you added to the home's title can be seen as an act of good faith, it can also create unintended issues for you. For a quick example, you won't get credit for the mortgage payments, but the mortgage will be counted as your debt should you want to purchase another home using your credit.

Feel free to contact me with any further questions!

thanks, Jeff Marr
Stanford Mortgage
916-947-1312 - Sun Aug 31 2008, 11:56

i AM APPROVED FOR THE NEAMIAH LOAN...CAN ANYONE TELL ME WHICH BANKS ARE STILL ACCEPTING MY LOAN APPROVAL???

Asked Thu Aug 28 2008, 18:03 by Michele Harry - Sacramento - Home Buying - 9 answers

Jeff Marr answered:

Michele - as of today, most lenders have already stopped accepting loan packages where Nehemiah, or any other seller-funded down payment assistance programs, is needed for your down payment. You'll need to see if you can qualify for state or local program for your down payment, or beg your relatives for their help. All seller-funded DPAs came to a halt with the passage of HR Bill 3221 which was signed on July 30. Unless you were in contract, and had your loan package was successfully submitted, and your loan was registered with Nehemiah, then the window for using this type of program has closed for you....

if you'd like to discuss other options, I'm only a phone call away and would love to help you!

warmest regards, Jeff
Stanford Mortgage
916-947-1312 - Sat Aug 30 2008, 17:50

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