Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Andrew Jallo from Dacotah Bank. Andrew explained a few new changes that you could benefit from if you're in the process of buying a new home.  You can reach Andrew at 605.692.8600 or Andrew.Jallo@dacotahbank.com.  His office is located at 1441 6th St., Brookings SD 57006 or on the web at www.dacotahbank.com.

 Day One Certainty in a Standard Conventional Mortgage

 - Hey, good morning everybody. Shane here, from the Brookings Home Team, powered by Century 21, and it is 8:15 on the dot. No technical issues, no nothing, it's not a holiday. It is The Monday Morning Mortgage Tip, and this familiar guy right next to me is Andrew from Dakota Bank. Been here a couple times this week with the Share the Warmth thing, so thanks for letting me participate in that. And, we got a little contest announcement to announce after

- Yes.

- After your Monday Morning Mortgage Tip. So, with that being said, take it away Andrew.

- Alright Shane, thank you. So, a couple things I'm gonna talk about today would be for a standard conventional mortgage. Items that maybe you wanna talk with your mortgage lender about. Fannie Mae recently came out with some great options. One of them is an appraisal waiver. So, if you're looking at refinancing, you might not actually have to get a new appraisal. So, we as a lender can put in-

- Yes, that's very nice, save you 500, 600 bucks there.

- Yeah.

- So, we're able to put in an estimated appraised value, and if Fannie Mae's automated system accepts that, we don't have to order an appraisal. So that's something to definitely consider. The other thing is "Day One Certainty". So, what Day One Certainty allows us to do is if you've been on the job for a stable amount of time, typically it's that 12 month period, we can get a verification of employment from your employer, and if it's accepted, we wouldn't need tax returns, pay stubs. So I've had borrowers where literally all you've had to bring in is your driver's license. So, you hear about the paperwork process and how labor-intensive it is, Fannie Mae, with conventional Day One Certainty, they're really trying to streamline that process. So, couple items that we wanna talk about, I strongly encourage you to contact your lender, see if those items would work for you in the mortgage process.

- Wow, yeah, that's some great information. And this has been going on for a few months, you said?

- Yeah, uh, we've been in the testing phases for the last about six months or so.

- Okay.

- So I know each creditor's a little bit different, so we're just so used to overkilling the file, that this is a new process for us.

- Lot streamlined.

- Yes.

- Lot more streamlined.

- Very nice.

- Yeah, if you have any questions on that, please feel free to reach out to Andrew. As usual, information on top, on the bottom, on the sides. There, can ya do that for me? However your device allows you to see that, you feel free to reach out to him, he'll be happy to answer any of those questions. If you have questions for myself, or any of our other lender friends, please don't hesitate to ask down below there too, or in the comments section. E-mail me, direct message me, whatever it takes. I'm on Snapchat, Instagram, Facebook, you can reach any of us.

- He's the tech guru, so...

- I don't know about that, but feel free to reach out to me here. And then also be sure to share this video with anybody you think also would benefit from this information. And, again, follow us on all those social media platforms. Now, with that being said...

- Yes.

- I've teamed up with Andrew here at Dakota Bank, and we have our pumpkin painting contest going on. I wanna thank Dakota Bank and Splash Zone here in town for helping be sponsors with that. But, a $25 gift card from Andrew and the group here for the first place decorated pumpkin that we'll have. We have two age groups, and again, look at my social media stuff. I'll have all the information on there. We'll be posting throughout the next two or three weeks here, but we'll have a special judge coming too, to judge those pumpkins. We'll have a couple judges, but for sure right now, one has committed to helping us judge that. Of course, we gotta do it live, so we'll do a live Facebook pumpkin painting judge at that point. That's October 22nd, somewhere in there, 22nd, 24th, haven't quite nailed that down, but we need all the pumpkins here by October 19th. Just come in to the Century 21 office, grab the best pumpkin that works for you, paint it, decorate it, and bring it back with the registration form, and that's it, you're entered.

- Sounds like a fun time, and good luck everyone. We're excited to see some of the results.

- Yeah, yeah. Andrew's upset 'cause he's not in that age group.

- Yeah, Shane told me I don't qualify.

- He doesn't qualify. So, sorry about that Andrew. You have to do your own So anyway, thanks for watching guys, and we'll be back next week for our next Monday Morning Mortgage Tip. Have a great week. Talk to you later.

- Thanks.

Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details!