BluFi Opens New Office in Scripps Ranch

May 31, 2013 Leave a comment

If you are wondering what we have been up to lately at BluFi Lending keep on reading. We are happy to announce the opening of another office in San Diego County, located in Scripps Ranch, and the hire of Branch Manager Benjamin Lee and five new staff members.

Our goal is to keep providing transparent, responsible lending and quick home loan closings to our customers. With the low interest rates that we’re currently seeing, we would like to better serve our customers throughout San Diego County and meet the increasing demand by expanding our branch locations.

Scripps OfficeThe new office is located at 9909 Mira Mesa Blvd. in Scripps Ranch, San Diego. The staff, including mortgage loan officers and support team members, will serve clients in the Mira Mesa, Scripps Ranch, Poway and other nearby communities. We’re expecting to grow the office by six more new members by the end of the year. If you are interested or know someone who is, please check out our career site.

New Branch Manager Benjamin Lee will head the office and will lead recruiting efforts. In addition to growing the new office, Benjamin will also focus on growing BluFi Lending’s name recognition by volunteering for community organizations such as the Pacific Arts Movement and sharing information about the company’s exceptional service standards. Benjamin says he’s excited to transition from loan originator into the managerial role to cultivate a strong team and culture for BluFi Lending in Scripps Ranch. Benjamin is a prominent Korean-American mortgage banker well known in the Asian community, and has hired bilingual employees to offer multi-lingual services at the new office.

“Benjamin is a great asset to the BluFi family, and our new Scripps branch is the perfect office for him to manage,” said John Lee, BluFi Lending president and CEO. “We recognize BluFi serves diverse communities, and Benjamin and his team are well-equipped to provide bilingual services to clients that may prefer to do business in their native language. This is another way that BluFi is meeting the demand for full-service home lending.”

We are proud to see BluFi maintain a steady growth in San Diego and would like to welcome our new team members to the BluFi family. If you have any questions about mortgages or if you’d like a consultation with one of BluFi’s mortgage bankers, call us at 1-800-644-7779.

Filed under BluFi News Tagged with , , , ,

Five Things to Watch When Refinancing Your Home

May 24, 2013 Leave a comment

You have your dream home already, but your interest is still too high. Now might be the best time to consider refinancing with values on the rise and interest rates at the historic lows we’re seeing! Locking into a low fixed rate loan could mean more financial security for you and your family, but refinancing your home mortgage can be a challenging process. There are many things to keep in mind. This week we read a great article on the topic in Yahoo Homes, “Five Costly Refinancing Mistakes to Avoid,” that gives insightful advice on avoiding missteps that could cost you.Young family in front of their house

Here are five things to consider when you refinance your home loan:

  1. Keep your debt to income ratio low. Don’t open any new credit cards until you have finalized your loan.
  2. Wait on any major purchases. For instance, buying a new car right before refinancing might hurt your credit score.
  3. If you’re thinking about changing jobs, think twice. Changes in your income are often a concern for lenders, so don’t make any bold moves.
  4. Don’t make large undocumented deposits in your checking account. Every financial transaction you make must be documented; otherwise, the loan process might be delayed.
  5. Be honest about your income if you’re self-employed. Go by your net, not gross income because the lenders usually use it on the loan application.

Five Costly Refinancing Mistakes to Avoid discusses each of these points in detail and provides experts’ advice on refinancing. To learn more, read it online. The main thing to remember about refinancing is to hold off on any big financial transactions until you close your loan. Lenders usually see changes as red flags, which can result in a longer refinance process.

For any questions about mortgages or a consultation with one of BluFi’s mortgage bankers, we would be happy to discuss your needs. Give us a call at 1-800-644-7779.

Filed under Your Home

First Time Home Buyers – 10 Tips to Consider

May 9, 2013 Leave a comment

bigstock-Happy-couple-lying-down-4.26

Buying a home can be really exciting and stressful at the same time, especially if you’re a first-time home buyer. Finding the perfect home for you and your family, starting a new beginning and living the “American dream” are all filled with positive and confusing emotions. And there are some things you need to know before you move forward and start looking for that dream home. We read a good article on CNN Money, “Tips for Buying a House,” that emphasizes the top 10 things you need to know to buy a home.

To summarize, here is what to keep in mind before you go house hunting:

  1. Don’t buy a house if you can’t make the commitment.
  2. Check your credit history and make adjustments if needed.
  3. Know your budget and look for a house that you can afford.
  4. Even if you can’t put 20 percent down, you might still get a loan.
  5. Look for an area with a good school district.
  6. Use a professional agent who will work in your best interest.
  7. Do your homework and study the difference between points and rate.
  8. Get pre-approved before you start looking for the perfect house.
  9. Be smart when it’s time for bidding. Do your research beforehand.
  10. Hire an experienced home inspector, preferably an engineer.

The article addresses each of these tips further and gives specific advice on home buying. If you’d like to learn more and be well prepared before you start the hunt for your dream home, we recommend that you read the article online.
If you have any questions about mortgages or need a consultation with one of BluFi’s mortgage bankers, we would be happy to help you. Give us a call at 1-800-644-7779.

Filed under Your Home

Green for Earth Day

April 22, 2013 Leave a comment

April 22 marks a very meaningful day on our calendars every year since 1970. People all over the world celebrate Earth Day with various activities that have to do with the support of environmental protection. At BluFi Lending, we contribute to a sustainable future every day by providing an eco-friendly work place and by using sophisticated paperless technologies that are more efficient and eco-friendly. Our electronic process for making home loans is good for the environment AND saves our customers’ “green” too.

Earth Day

Earth Day

In honor of Earth Day this year, we decided to put together a list of tips for homeowners on making their home more eco-friendly. Here are some things you can do:

  • Change the bulbs in your home to LED bulbs. LEDs uses less power (watts) per unit of light generated (lumens). LED’s help reduce greenhouse emissions from power plants and lower electric bill. They can last up-to 50,000 hours vs CFL’s 8,000 hours.
  • Washing clothes or dishes with cold water is just fine – the new soaps and detergents out there will do the same job.
  • Buy in bulk when you go to the store – this way you won’t waste packaging and will reduce trips to the store.
  • Invest in canvas totes instead of asking for plastic bags every time you go grocery shopping. Single-use bags are choking landfills and many states are looking for ways to solve the problem. So far in 2013, eight states—Arkansas, California, Florida, Massachusetts, New Jersey, Oregon, Rhode Island and Washington—are considering banning single-use plastic bags, with California’s proposed ban including paper and other single-use bags as well.
  • Leave the plastics behind! Use biodegradable pots for your home and garden instead.
  • Think twice when you’re tempted to print hard copies or write your shopping list on post-it notes. Use your smartphone or electronic instead.
  • If you are upgrading furniture or doing major home improvements, check for eco-friendly options. With all the abundance of products these days, you should be able to find cool and green products for your home.
  • Instead of buying batteries all the time, opt for rechargeable ones and invest in a battery charger. Try to eliminate waste as much as possible.
  • Here’s a tip right in time for your spring cleaning. Hot water and white vinegar can substitute cleaning supplies and will do a great job. Save the environment and save money too.
  • Last, but not least, don’t forget to recycle. You’d be surprised how much of what we consume is recyclable waste.

If you’d like to get more involved or to find more information on various causes and activities for Earth Day, visit the U.S. Environmental Protection Agency.

Filed under BluFi Cares Tagged with , ,

Reverse Mortgages – 10 Things You Should Know

April 17, 2013 Leave a comment

Couple signing paperwork

Couple signing paperwork

At BluFi Lending we care about our customers, and we try to educate them about the different loans and options depending on their situation. A type of mortgage that is often misunderstood is the reverse mortgage.  Reverse mortgages have been around for about 12 years now, and according to an article we came across in AARP by Tara Coates, 660,000 reverse mortgages have been issued since then. “10 Things You Should Know About Reverse Mortgages” discusses the pros and cons of this type of mortgage. Here are the highlights:

What is a reverse mortgage?: The main requirement of this type of loan is to be 62 years of age or above. The reverse mortgage allows you to borrow against the equity you’ve built up on your home. The difference from other loans is that this type of loan doesn’t have to be paid off right away.

Who can apply?: Anyone who is at least 62 years old and currently lives in the home. You have to either own your home or be able to pay it off with the equity from the reverse mortgage.

How to apply: You can consult your reverse mortgage lender to see if this is a good solution for you. Sometimes there is a fee for the consultation, but it can be rolled in to the loan. The reverse mortgages are available in fixed and adjustable interest rates.

Is a reverse mortgage expensive?: There are certain fees associated with reverse mortgages (loan origination fees, closing costs, ongoing fees, etc.), but sometimes they can be packaged with the loan.

The AARP article goes into more detail about reverse mortgages and what you need to contemplate when considering a reverse mortgage.  Many seniors have used the reverse mortgage to meet their financial goals. If you’d like to learn more to see if this type of mortgage is right for you, access the full article online.

In addition, our reverse mortgage expert Monte Howard was recently featured on KOGO’s radio show My Home Improvement, sharing his insight on this particular type of mortgage. Listen to the broadcast here.

If you have any questions about reverse mortgages or need a consultation with one of BluFi’s loan officers, we would be happy to talk to you. Give us a call at 1-800-644-7779.

Filed under Mortgage News

For the Military: Support Organizations and VA Loans

March 27, 2013 Leave a comment

At BluFi we are passionate about supporting our armed forces, so we make a point to offer loans designed for them, in the form of VA loans, but we also take the extra step to support military-focused non-profits such as the Wounded Warrior Project.

Couple in front of house

As part of our BluFi Cares initiative, we raise money each year to benefit this great organization. This year, between employee contributions and a company match, BluFi raised $5,000 to support the Project’s mission to raise awareness and enlist the public’s aid for injured service members. It’s a wonderful mission that we’re proud to support. If you’re looking for a worthy organization that helps military members, check them out at
http://www.woundedwarriorproject.org
.

VA Loans Offer Wide Array of Benefits to Active Duty Personnel, Veterans and Spouses

Another way to help support military members is provide information on home loan services tailored just for them. The VA loan is one of the most useful, but often underused type of loan, so we wanted to share this terrific article we saw in the U-T San Diego by Linda Lee, “Mortgages just for U.S. military”. It provides some helpful details about VA loans, who is eligible, and where to go for more information. Here’s a short summary of the article:

Who is eligible: VA loans were created by the United States Department of Veteran Affairs. They are available to most military members, veterans, reservists and National Guard members, as well as surviving spouses of military members who died on active duty or as a result of a service-related injury.

What’s different: The VA loan is guaranteed by Veterans Affairs, and is designed to help eligible borrowers obtain home financing with less than perfect credit, at the lowest interest available. Many borrowers do not need large down payments, and can avoid insurance premiums, penalty fees and high interest rates. Some people even qualify for no-money down, 100 percent financing.

Where to get more info: Vahomeloancenters.org

Read the full article here.

We hope this post helps clarify the VA loan and reminds you to reach out and support your favorite military non-profit! If you have questions about VA loans, give us a call at 1-800-644-7779.

Filed under Mortgage News

Thanksgiving With BluFi Lending and The Salvation Army

December 12, 2012 Leave a comment

The numbers are in – BluFi Lending’s Thanksgiving 2012 with The Salvation Army was a day to remember! BluFi partnered with Pam Phillips Catering to provide all of the food for The Salvation Army’s annual Thanksgiving Day meal in Oceanside, California. With BluFi’s support and a team of dedicated volunteers, we were able to provide a delicious Thanksgiving dinner to more than 350 guests.

Dinner for 350+ people was quite an undertaking! In total, we served:

Tables Ready for Thanksgiving Guests

Tables Ready for Thanksgiving Guests

  • 63 pounds of turkey
  • 140 pounds of potatoes
  • 420+ pieces of pie
  • 590 dinner rolls
  • 300 cups of coffee
  • 22 gallons of lemonade

In addition to a warm, homemade meal, families who came in were also given a small gift, and the first round of children each received their own voice recordable story book. After the event, The Salvation Army also delivered 50 meals to home or work bound area neighbors.

The Thanksgiving Day event was made possible through BluFi Cares, our charitable outreach program. BluFi Cares is a volunteer committee of BluFi Lending employees. Throughout the year, the committee selects organizations like the Salvation Army to support through donations and volunteerism. Previous organizations we have supported include Rady Children’s Hospital San Diego, Make-a-Wish Foundation, San Diego Food Bank, The Angel’s Depot, Wounded Warrior Project, and Dress for Success.

Happy Thanksgiving from BluFi Lending

Happy Thanksgiving from BluFi Lending

BluFi employees are proud and grateful to support such a worthy cause during the holidays. For more information on The Salvation Army and ways you can help, visit its blog at
http://www.salvationarmyexpectchange.org
.

Filed under BluFi Cares Tagged with , , , , ,

← Older posts

Follow

Get every new post delivered to your Inbox.