Mortgage Myths

Debunking Mortgage Myths with AnnieMac -

AnnieMac Home MorgageDesigning Spaces has teamed up with a couple of experienced executives from AnnieMac Home Mortgage in the hopes of debunking some mortgage myths and demystifying the process of obtaining a loan. Joe Panebianco talks with Marc and Jessica who currently rent their home, but have been taking about buying something of their own. As first time buyers, they have a number of hurdles to jump, but armed with the right knowledge, there will be no surprises.

Joe offers a number of suggestions that will arm the couple with the kind of info, and expectations, to get their proverbial ducks in a row. Craig Ungaro talks with Rick and Penny about loan options for making home improvements. Craig explains the type of documentation they will need, and gives them the approximate timeframe for obtaining a loan for home improvements. AnnieMac provides potential borrowers with checklists and guides allowing for a transparent and borrower-friendly process.


Are you thinking of buying a house or maybe you are in one of these housing situations?

  • Renting? In many cases it is less costly to buy a home than it is to rent. Renters may not be aware they can afford to buy a home
  • Homeowner looking to renovate or remodel current home
  • Potential homeowner looking to buy a house

Where do you start when it comes to finances and figuring out what you can afford?

Borrowing money is a mystery to many, but there is a wide range of mortgage products available to both future and current homeowners. AnnieMac Home Mortgage can help you maximize your cash and use your equity in a responsible and effective manner so you can make the best choices.

Here are some common MISCONCEPTIONS regarding this issue and how AnnieMac can help:

  • A homeowner must have equity in a home to make improvements: AnnieMac’s renovation loan programs allow you to finance home improvement costs into your mortgage. This means you can buy and renovate a home with a low down payment – as little as 3.5% – and the loans have low interest rates that are also tax deductible. The improvements could potentially build instant equity.
  • Must have 20% down on home purchases: At AnnieMac Home Mortgage their licensed mortgage professionals have access to mortgage products requiring low or no down payment as well as assistance programs and 100% financing loan options.
  • Lenders are only lending to borrowers with perfect credit: There are several government insured loan programs that allow borrowers with less than perfect credit to be approved for a mortgage.
  • Refinancing takes a long time: At AnnieMac it takes approximately three weeks from the time you complete and execute your loan application to when you close your loan.

Borrowers should consider their options before buying so that they understand the load options they can truly afford —and also understand how much house and home improvement they can afford. AnnieMac is there to guide you every step of the way to the home of your dreams.

“Designing Spaces provides a wealth of valuable information and resources to the very same demographic which AnnieMac Home Mortgage strives to educate about the mortgage process and mortgage products available. This makes Designing Spaces and AnnieMac Home Mortgage an ideal partnership,” stated Joseph Panebianco, President & CEO.

Check out these recent accolades:

  • Joseph Panebianco, CEO, recipient of the 2014 “Future 50” award by SmartCEO
  • Recognized Nationally as a “Top Mortgage Lender” in 2012 by Scotsman’s Guide
  • Zillow Rated “5-Star Lender”
  • 2012 and 2013 recipient of “101 National Best and Brightest Companies to Work For”
  • One of the “Top Workplaces” by philly.com for 2013 and 2014
  • Winner of “Best Places to Work in NJ” award by NJBIZ for 2013 and 2014

For more info, please visit: http://www.annie-mac.com

Make sure to tune in to Designing Spaces on Wednesday, May 28th and June 26th, 2014 at 7:30 am (ET/PT) on the Lifetime Channel as experienced executives from Annie-Mac Home Mortgage help demystify the mortgage process.

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