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Benjamin Pack

NMLS ID 632031

801-912-8484 bpack@boemortgage.com


The Alpine Team The Pitfalls of Using 401K Money for Down Payment

There are some “gotchas” when you borrow from a 401(k) to purchase a home which could raise your total loan costs to a figure much higher than what you borrow. For example: During the period your 401(k) loan is outstanding, you’re typically prevented from making full contributions to your existing retirement plan. This means that you could forgo up to 5 years of retirement fund contributions, which could make a significant impact on you later in life. If your employer is one that matches 401(k) contributions, you miss out on those ...

June 28th, 2018 | #homestagingtips, 401K, Down Payment, Purchase Loans, homeloan, thealpineteammortgage, The Alpine Team The Pitfalls of Using 401K Money for Down Payment

4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Utah, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, thealpineteammortgage, The Alpine Team, Pre-Approval, Down Payment, VA Loans, First Time Homebuyer, 4 Things Every Borrower Needs to Know About Mortgage Brokers

Should I Rent or Buy?

While homeownership has long been the American dream, buying a home is not necessarily the best choice for every person or every situation. There are many factors to consider in determining if a home purchase is the right decision for you right now. Can you Afford It? If the cost to own a home – mortgage, homeowners insurance and property taxes included – if less than roughly 28% of your gross income and you have few other debt obligations, you can probably afford to buy. Do not underestimate the additional costs of maintenance though. Replacing appliances or paying for a plu...

June 14th, 2018 | Purchasing a Home, thealpineteammortgage, The Alpine Team, Purchase Loans, Down Payment, First Time Homebuyer, VA Loans, Pre-Approval, Should I Rent or Buy?

Credit Do’s and Don’ts in the Mortgage Approval

Credit Do’s and Don’ts in the Mortgage Approval Process While pre-approval allows buyers to know how much they are qualified to borrow for a new home before they start shopping, and it can speed up the mortgage application process once they find a home they like, prospective homebuyers need to keep in mind that pre-approval is not final approval. Events and decisions affecting a borrower’s financial profile that occur after pre-approval but prior to closing can determine whether or not the loan is ultimately approved. Especially now, as the mortgag...

June 10th, 2018 | Down Payment, First Time Homebuyer, Purchase Loans, Pre-Approval, Reverse Mortgage, VA Loans, The Alpine Team, Credit Do’s and Don’ts in the Mortgage Approval

4 Reasons You Don’t Want to Pay PMI

Years ago, a 20% down payment was a requirement for obtaining a mortgage loan. Putting that much money down made it less likely that borrowers would simply default on their home loans and gave lenders a measure of security and collateral in the case of foreclosure. However, in more recent years, lenders have gotten much more creative in financing to help more Americans become homeowners. There are now mortgage loans that require as little as 3% down up front. In order to compensate for that added risk of loss, lenders require and borrowers with a down payment of less than 20% to pay for pri...

June 7th, 2018 | First-time Homebuyers, homeloan, Pre-Approval, Purchase Loans, Down Payment, thealpineteammortgage, The Alpine Team, 4 Reasons You Don’t Want to Pay PMI


Buying a home for the first time can feel like a scaring task to the first time homebuyer. There are several processes and things to learn along the way.  It can be fairly simple process with strong communication lines between the customer, lender, and real estate agent.  The smartest way to get things started and make it easy. Take care of these items and you are on your way to owning a home. Get pre-approved with a mortgage bank such as Bank Of England Mortgage.  By getting a true pre-approval, you are able to put in a legitimate bid on a home. The pre-approval lett...

April 19th, 2018 | Purchase Loans, First Time Homebuyer, The Alpine Team, thealpineteammortgage, homeloan, Pre-Approval, Down Payment, #homestagingtips, The Alpine Team FIRST TIME HOMEBUYER

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