Goldcoast Mortgage Service, Inc

Adrienne, we’re honored that you ask! It comes down to us knowing what we’re NOT the best at, then giving ourselves advance permission to guide those folks to the right service provider for their issue. When we feel qualified to assist (and the client agrees), we’re confident that we’re going to provide the homeowner with unbiased guidance that helps them towards their goal. If that goal results in us assisting with financing, we feel fortunate to be brought onto the Team. Many of our Google Reviews come from people we’re helped but who we did not arrange a mortgage solution for.

This is in the top 5 most common questions we are asked. First up you need to ascertain if you have a conventional mortgage or a FHA mortgage (VA mortgage’s, do not have monthly mortgage insurance). USDA and MassHousing require a separate explanation. Let’s start with a conventional mortgage (non-government mortgage). The FHA explanation of it’s own MIP is another chapter that will come later. You pay mortgage insurance against your potential default. It is an insurance .. that’s the “I” in the acronym. While you derive a benefit from PMI (your ability to buy a home without a 20% down-payment) the insurance isn’t for your protection. This is important to think about. You’re not PMI’s customer the lender is, even though you pay for it. Since there are several PMI providers the removal rules will vary between PMI companies. The 3 techniques that will drop PMI are listed in detail on our website.

GoldCoast’s logo was commissioned by graphic designer J. Michael Wheeler over 15 years ago. The original artwork represents the three states where we do business. The house is Castle Hill in Ipswich (Massachusetts), the bluffs are from Mohegan Island (Maine) and for the float plane we merged features from two iconic Lake Winnipesaukee (New Hampshire) planes (one a pontoon plane, one not) to provide us with an “upper” New England feel. We converted the sketch to files which are either one color engravable, black & white, or a two color version for different various applications. We often use the logo as a standalone brand identifier in lieu of lots of text or contact information. It’s been very well received by our customers and fans.

We don't chase, sell, or obligate you. Ever. We work for you. You hire us, fire us, review us, refer us, walk away from us, or lean in. People declare themselves over decades. Our clients are convinced that our Safe Passage assurance has helped them meet or exceed their real estate goals. Once you discover our guidance and experience are free, then adding us to your real estate team is a comforting decision.

A bridge loan is a 2nd position mortgage on your outbound (former) primary residence. It is designed to extract equity from the departure residence to be used as a down-payment on the destination (future) primary residence.

For an experienced Team (mortgage, realtor or broker, attorney and committed buyer) a transaction that needs to close (sell) and buy (purchase) on the same day should not be feared. Where the bog-downs happen is if you are using an out-of-state mortgage source, a national lender, or an online lender and they believe this is standard operating procedure. Or a realtor that also has a day job, or an attorney that is generalist and spaces weeks between real estate work. All parties need to be hyper focused and attentive to all the moving parts, which would place this type of transaction near the top of the complexity meter.