Getting your first payment made by Wayne
Posted by Wayne Malcomb on May 27, 2008
I have been getting responses from people asking, “how do they receive that first payment?”
Many companies like to say they will credit you back at closing. Others want to give money off on some other service or by discounting an unusual closing fee. There are also a couple that are giving you credits at a Buyer’s Club.
When Wayne makes your first mortgage payment on a house you buy in Niagara or Erie County I write you, the new homeowner, a check 10 Days after the closing. This Check will be for the principle & interest (P&I) on the loan that you close on. This Check will be made out directly to you the homeowner, not the bank. Because it is made out 10 Days after closing it cannot be used as funds to close. If you are all set on being able to make your payments on your own, you can use this check for anything you want. It is your money.
So how do you get Wayne to make your first mortgage payment?
There are two conditions.
#1. I must be the Real Estate Agent that writes the Purchase Contract.
#2. I must be the Loan Officer that writes the Mortgage.
For a personal interview with me regarding how all this works please contact me at 716-439-0388 ext 115 or wayne@niagarafunding.com .
To find a house in Niagara or Erie County Click Here.
To Apply on-line for a mortgage so Wayne can make your first payment Click Here.
