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- 8 Answers
- 1 Useful Answer
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About Me
I have been a loan officer since 1996 and have a substantial knowledge of the mortgage business and the Michigan real estate business in particular. I use my knowledge and experience to find the best opportunities for my clients. I take pride in understanding the micro and macro events and how they relate to the mortgage industry, and how those events ca effect your financial situation.
As a true a client advocate I take the time to tailor the right loan program to your needs. Whether that is MSHDA, FHA, VA, Rural Development, or just your standard conforming loan I take the time to determine what is the best fit for you. Many loan officers take the path of least resistance, and that works in some markets with some buyers, but often fails clients who could get better rate and terms. By taking the time to learn a little more, and dig a little deeper I save my clients money.
I develop lifetime relationships with my clients by focusing on what is right for them, not what is simplest for me.
I am a proud graduate of the James Madison College at Michigan State University. I graduated with honors receiving a BA in Political Economics and was granted membership in the Phi Beta Kappa society for academic excellence.
As a true a client advocate I take the time to tailor the right loan program to your needs. Whether that is MSHDA, FHA, VA, Rural Development, or just your standard conforming loan I take the time to determine what is the best fit for you. Many loan officers take the path of least resistance, and that works in some markets with some buyers, but often fails clients who could get better rate and terms. By taking the time to learn a little more, and dig a little deeper I save my clients money.
I develop lifetime relationships with my clients by focusing on what is right for them, not what is simplest for me.
I am a proud graduate of the James Madison College at Michigan State University. I graduated with honors receiving a BA in Political Economics and was granted membership in the Phi Beta Kappa society for academic excellence.
Testimonials
"“I have used Alan twice now for real estate financing. His work in impeccable. Plus, he follows the market trends to help you identify when/where it may be in your best interest to refinance and/or take a different strategy. Needless to say, I highly recommend him.”
Top qualities: Expert, High Integrity, Creative
Grant P.
Grand Rapids, MI"
Grant Thu Apr 5, 2007
Grant Thu Apr 5, 2007
"“Alan advised us and brokered the loan on our current house and a subsequent refinance. He had the best rate and costs I could find and handled everything for a smooth closing. I will continue to use Alan for my mortgages because of his expertise, availability and integrity. I recommend Alan to anyone requiring a mortgage including my parents who were also very pleased with the service they received on their mortgage last year.”
Top qualities: Great Results, Expert, High Integrity
Dan S
Bloomfield, mi"
Dan Wed Aug 30, 2006
Dan Wed Aug 30, 2006
"“Alan has helped me through the mortgage process more times then I count at this point. He is excellent at following up and making recommendations for products that were the best fit for what I really wanted.”
Top qualities: Great Results, Expert, On Time
Jeffery B. Ann Arbor, MI"
Jeff Tue Jan 15
Jeff Tue Jan 15
"“Alan did an excellent job providing me with expertise and financial advice and helping me find a mortgage which fit my situation. He did a great job of explaining my different options to me and the pros and cons of each, and made sure that I understood the concepts behind fixed and adjustable rate mortgages. He was very up front and transparent about his fees and I felt like he was definitely interested in my long term well being and my repeat business. I never had any problem getting ahold of him and he was always very friendly and professional.”
Top qualities: Great Results, Personable, Expert
Nate O.
Plymouth, MI"
Nate Sat Jul 1, 2006
Nate Sat Jul 1, 2006
My Q&A
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Alan Lacey's Questions (0)
Alan Lacey's Answers (8)
Alan Lacey answered:
It is not a very accurate measure to be honest.
Some houses sell well below the taxable value if they are shortsales or foreclosures. Grand Rapids like many cities is not going to reduce taxable value because a home was sold under duress they do not consider it a fair market value, although they will be hard pressed to keep that argument up since over 40% of all sales in the city are foreclosures or shortsales.
The obivous answer is that the only way to determine fair value is a appraisal, but if you want to do a little investigating first use cyberhomes.com out of all the online home valuation tools they seem to have the most accurate.
Some houses sell well below the taxable value if they are shortsales or foreclosures. Grand Rapids like many cities is not going to reduce taxable value because a home was sold under duress they do not consider it a fair market value, although they will be hard pressed to keep that argument up since over 40% of all sales in the city are foreclosures or shortsales.
The obivous answer is that the only way to determine fair value is a appraisal, but if you want to do a little investigating first use cyberhomes.com out of all the online home valuation tools they seem to have the most accurate.
Alan Lacey answered:
A land contract technically violates the due on sale clause of most mortgages including seconds. So I doubt the would allow the seller to do that.
Also because most of these second mortgages are upside down ( the owe more than the home is worth) I really doubt they would allow that. They (wells) may be a in a high risk situation now, but this structure would exponentially increase that risk.
Also because most of these second mortgages are upside down ( the owe more than the home is worth) I really doubt they would allow that. They (wells) may be a in a high risk situation now, but this structure would exponentially increase that risk.
Alan Lacey answered:
Well I think the first issue would be to not really worry until the spring. I know it is a slow market, but you cant predict with any certainty that a nice property will be on the market in 4 more months. If you did sign a exclusive buyers agency there are expirations etc..., but I will leave that to the the licensed Realtors to comment on. I would advise ou not to worry about it untill the spring.
Alan Lacey answered:
Many brokers do not offer MSHDA for various reasons. I am proud to say that Fifth Third is one of the largest MSHDA lenders in the State and National City is another. If you still have questions fee free to email me or go to my website. Mshda rates have gone up about .375% since you posted your question
Alan Lacey answered:
I think you have the right advice. Almost all lender require anyone on the mortgage to sign the PA, and on THE PA to sign the mortgage. Some are less stringent that others. I know a few lenders that if a spouse was on the PA and they weren't going to be on the note they required an addendum removing them.
I never really understood that to be honest because the note (the loan) is nothing rally. The mortgage is the promise of the property as collateral and a spouse will almost always be on this to be on title, and that is what the PA should really match up with.
I never really understood that to be honest because the note (the loan) is nothing rally. The mortgage is the promise of the property as collateral and a spouse will almost always be on this to be on title, and that is what the PA should really match up with.
Specialties
Specialties:
Jumbo Financing
Home Purchase Financing
FHA Financing
VA Financing
Second Mortgage
Home Equity
Rural Development Financing
MSHDA
Jumbo Financing
Home Purchase Financing
FHA Financing
VA Financing
Second Mortgage
Home Equity
Rural Development Financing
MSHDA
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