We are pleased to share that Prosperity Home Mortgage, LLC, (Prosperity) has been recognized for its exceptional mortgage originators once again by Mortgage Executive Magazine.  In its Winter 2019 edition, the industry publication honored the Top 200 Mortgage Originators in America and the Top 1% of Mortgage Originators in America.  31 members of the Prosperity team were named to these exclusive lists.

“It’s quite an honor to see that so many of our mortgage originators were recognized as some of the top in the country by Mortgage Executive Magazine,” said Tim Wilson, CEO of Prosperity. “I’m proud of not only their hard work and achievements, but that of our entire sales organization. We’re committed to providing personalized and focused service to every client at Prosperity, and it’s because of that ongoing commitment that we remain among the top lenders in the nation.”

Two of Prosperity’s mortgage consultants ranked among the Top 200 Mortgage Originators in America by annual mortgage volume. Jonathan Okun, a senior mortgage consultant based in Bethesda, Maryland, was ranked No. 55 on the 2018 list with 226 closed loans and total volume of $116,548,857. Jody Eichenblatt, a senior mortgage consultant based in Alexandria, Virginia, earned the No. 68 on the list. He closed 249 loans for a total volume of $111,127,133 in 2018.

Additionally, 31 mortgage consultants with Prosperity have been named to Mortgage Executive Magazine’s list of the Top 1% of Mortgage Originators in America. To be eligible for the list, a loan originator had to personally produce at least $30 million in 2018. According to NMLS Mortgage Industry Report, there were more than 550,660 federally registered mortgage loan originators as of June 30, 2018. Below are the Prosperity members who were recognized:

• Derek Alverson, Richmond, Virginia
• Jason Adrzejewski, Gainesville, Virginia
• Glenn Benson, North Bethesda, Maryland
• Carleton Chambers, Ashburn, Virginia
• Michelle Davis, Washington, D.C.
• Jody Eichenblatt, Alexandria, Virginia
• Michael Gee, Raleigh, North Carolina
• Michael Graff, Devon, Pennsylvania
• Eric Halm, Rockville, Maryland
• Jonathan Haug, Virginia Beach, Virginia
• Bradley Katzen, Washington, D.C.
• Janice Lanning, Fredericksburg, Virginia
• Bryan Lovern, Severna Park, MD
• Alex Luboff, Folsom, Pennsylvania
• Michael Mento, Avalon, New Jersey
• Ben Miller, Cumming, Georgia
• Joseph Nalls, Rockville, Maryland
• Alicia O’Brien, Richmond, Virginia
• Jonathan Okun, Bethesda, Maryland
• Anthony Pellegrino, Cary, North Carolina
• Nicholas Rocco, Columbia, Maryland
• Terry Schenck, Fairfax, Virginia
• Greg Scholl, Washington, D.C.
• Daniel Shedrick, Chapel Hill, North Carolina
• Brian Stephens, Dunwoody, Georgia
• Rick Stevens, Atlanta, Georgia
• Brad Stevenson, Williamsburg, Virginia
• Michael Storti, Collegeville, Pennsylvania
• Sarah Welsh, McLean, Virginia
• Lynlea Westervelt, Clarksville, Maryland
• William Woodfin III, Midlothian, Virginia

Congratulations to each of our mortgage consultants on their success!

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in Alabama, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, Minnesota, Missouri, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2019 Prosperity Home Mortgage, LLC.

Buying a new home can seem overwhelming.  But knowing what to expect – and having a knowledgeable team of real estate and mortgage-lending professionals to assist you – can help make finding and financing your home an exciting and rewarding experience.  Here is a basic overview of the home buying process:

1. Obtain a mortgage preliminary approval before you begin house hunting.

• Learn how much home you can purchase.
• Strengthen your bargaining position with sellers.

2. Work with your real estate agent to find the right home.

• Determine your needs and create a wish list of desirable features.
• Take notes as you preview homes using our house hunting checklist.

3. Make a purchase offer on a home you like.

• Your real estate agent presents your offer to the seller, who will then choose to accept, counter or reject the offer.
• When the price is settled, you and the seller sign a Purchase Agreement, defining the terms of the sale.

4. Complete the loan application process.

If you have already obtained a mortgage preliminary approval, contact your lender and let them know you have a contract on a home. Your mortgage consultant will update your loan application and help you to proceed with the home financing process.

5. Have the home inspected.

If you choose to have a home inspection, hire a professional home inspector after the offer has been accepted to provide an in-depth look at the basic systems of the house, which can reveal safety hazards and give you a chance to reconsider the deal.

6. The home will be appraised.

An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value.

7. Obtain title insurance. (where applicable)

Title insurance guarantees the property you are purchasing is free of liens or confusion in rights of ownership, and it also insures against any losses to the property that result from defects in the title or deed.

8. Close on the property.

• A closing agent coordinates and distributes all the paperwork and funds.
• Ownership of the property is transferred.

And you become the proud owner of your new home!  Our team of mortgage professionals is available to guide you every step of the way to help ensure your home buying process is a smooth one.

Contact a local mortgage consultant, today!

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in Alabama, District of Columbia, Florida, Georgia, Kansas, Maryland, Michigan, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2019 Prosperity Home Mortgage, LLC. All Rights Reserved.

We are pleased to announce that effective February 4, 2019, Prosperity Home Mortgage, LLC (Prosperity) has expanded its operations into Alabama, Kansas, and Missouri.  Two teams of knowledgeable and experienced mortgage professionals from HomeServices Lending have joined Prosperity.  These teams, led by regional managers Amy McDonald in Kansas/Missouri and Wendie White in Alabama, will continue to serve real estate professionals, homebuyers and existing homeowners as Prosperity Home Mortgage consultants.

“We’re thrilled to have the opportunity to expand our footprint in the South and Midwest,” said Tim Wilson, CEO of Prosperity Home Mortgage.  “Prosperity continues to be one of the best mortgage companies in the country, and we are looking forward to demonstrating the wealth of knowledge and integrity that our team of mortgage professionals brings to every mortgage transaction—all in support of our mission to deliver an extraordinary home financing experience to our clients.”

Prosperity is focused on growing its business throughout the country in 2019, and the addition of the new teams align with the company’s long-term growth strategy, according to Wilson.

Ron Wivagg, National Sales Support Manager for Prosperity, echoed Wilson’s thoughts.

“Prosperity has built a strong reputation for providing the highest quality of service and support to our clients.  We lead the way with cutting-edge technology and competitive loan products,” said Wivagg.  “I’m confident with our dedication to providing personalized service to every Prosperity customer, we’ll show our clients in Alabama, Kansas and Missouri exactly why we are among the top lenders in the nation.”

Prosperity has ranked as one of the best mortgage companies in the nation by Mortgage Executive Magazine, a publication that spotlights the country’s leading lenders in its annual list of Top 100 Mortgage Companies in America 2017.  Prosperity has earned a position in the top 50 each year since 2014.

Prosperity’s mortgage professionals have the advantages of a large company with excellent resources and state-of-the-art technology, while also maintaining a family approach to business that ensures our clients’ continued real estate success, added Wilson.

The company offers very competitive interest rate pricing and a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA), Veterans Affairs (VA) loans, down payment assistance and bond programs, home equity line of credit programs, and renovation financing.

Prosperity operates 5 regional offices for loan processing, underwriting and closing and is represented by over 210 mortgage consultants operating in Washington, D.C. and 16 states including: Alabama, Delaware, Florida, Georgia, Indiana, Kansas, Maryland, Michigan, Missouri, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in Alabama, District of Columbia, Florida, Georgia, Indiana, Kansas, Maryland, Michigan, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2019 Prosperity Home Mortgage, LLC. All Rights Reserved.

Planning to purchase a home?  You may already expect to make a down payment, pay for closing costs, and make an ongoing monthly mortgage payment for the life of your loan.  But did you know there may be other costs to consider if you’re thinking about becoming a homeowner?  Here are a few additional expenses to keep in mind for your household budget that go beyond your monthly mortgage payment:

Homeowners’ association/condo fees:  If you buy a home within a community represented by a homeowners’ association (HOA) or condominium association, you may be required to pay fees on a monthly, quarterly or annual basis to help cover the cost of maintenance to community structures, amenities and grounds.  These may be included as part of your mortgage payment.  If not, you’ll need to budget for them.

Maintenance, updates & repairs:  Keeping a property in top condition can be costly.  This is particularly true of older homes, where system and appliance warranties may have expired.  Home warranty plans provide repair or replacement coverage for certain built-in appliances and major home systems for a specific length of time.  They can cost a few hundred dollars a year, depending on your mortgage size and where you live.

Utilities: Budgeting for heating, cooling, electricity, natural gas, water/sewage, and trash removal are some of the expenses homeowners may face on a monthly basis.  Before buying a home, consider asking the seller for a record of the last 12 months of utility bills for the home.

Personalization: An expense that catches many buyers off-guard is the cost of updating elements of the home to meet your needs or personal taste.  New furniture, window treatments and lawn care equipment are examples of costs that can quickly add up.  Try to make a list of items you need, and then create a budget to help keep costs under control.

Need help figuring out how much you can afford? Get started with our affordability calculator, and contact a local mortgage consultant for additional assistance.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in Alabama, District of Columbia, Florida, Georgia, Kansas, Maryland, Michigan, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2019 Prosperity Home Mortgage, LLC. All Rights Reserved.

As Prosperity Home Mortgage, LLC continues to monitor the government shutdown, we would like to share some frequently asked questions about the impact on mortgage loans.  Please contact your mortgage consultant with any questions or concerns about specific loan transactions.

Will the flood certification process be affected?

For the most part, the flood certification process will not be impacted. However if a situation requires additional research, such as mapping issues, the flood certification process will be impacted.

What about loans requiring social security number verification?

The Social Security Administration is now currently fulfilling requests for social security number verifications.

Will the IRS process tax transcript requests?

The IRS started to process transcript requests as of January 8th. However, the IRS will require an undetermined amount of time to return to normal service levels.

What is the impact on USDA loans?

USDA is unable to issue new commitments or guarantee closed loans. Effective December 15, 2018, USDA loans require tax transcripts. USDA loans cannot close without full tax transcripts for all adult household members.

How are government employees affected regarding employment verification?

If a borrower works at an agency that does not use a third-party verification resource, then employment verification cannot be completed. Loans cannot close without a 10-day verbal verification of employment (VVOE).

How are FHA, USDA & VA questions escalated?

Government agencies will have limited staff available to answer questions or correspondence.  We always intend to answer questions in a timely manner; however, we may be delayed in responding while we wait for clarification from the government agency.

Contact your local mortgage consultant to discuss any financing questions.

This list is of frequently asked questions is only to be used as a guide and is not all-inclusive. Please contact your mortgage consultant for any questions related to specific loan transactions.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Florida, Georgia, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2019 Prosperity Home Mortgage, LLC. All Rights Reserved.