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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 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

The Alpine Team Home Loan Approval

Over the years, the term “pre-approval” has had many different meanings to lenders, real estate agents, and customers.  Today, with stricter banking guidelines, it has narrowed greatly and has a true definition.  To be pre-approved means that both the credit and the income of a potential borrower has been verified and reviewed by the mortgage professional.  This means the customers’ income documentation has been input and into a bank’s mortgage origination system to correctly calculate, in detail, the monthly income of that customer.  In the past, th...

February 17th, 2018 | Pre-Approval, homeloan, thealpineteammortgage, Purchase Loans, Down Payment, Reverse Mortgage, The Alpine Team, The Alpine Team Home Loan Approval

The Alpine Team VA Purchase Loan

In the mortgage lending, one of the most flexible and sometimes the lowest priced loan program is the VA purchase.  Designed to assist our military veterans, this loan product has a 0% down payment requirement and carries no Mortgage Insurance.  It is the only product of its kind that allows for these parameters. As a way of giving back some benefit to our Veterans and their families, this government backed loan product is a unique loan that can help make homes more affordable to our country’s service members.   One challenge of VA loans is getting the Veterans to un...

September 24th, 2016 | VA Loans, Purchase Loans, First Time Homebuyer, homeloan, Pre-Approval, The Alpine Team, thealpineteammortgage, The Alpine Team VA Purchase Loan

The Alpine Team cares about our Seniors

We are a member of the National Reverse Mortgage Lenders Association (NRMLA). Our Reverse Mortgage Counselors adhere to and maintain standards and a code of conduct that are aimed at protecting the interests of the senior community and their families.   We realize that although Reverse Mortgage products can be an excellent financial solution, they may not be the cure all for your financial needs.   Our customary methods in terms of consumer safeguards for senior citizens include:    A personal, one-on-one consultation with an expert Reverse Mortgage C...

July 17th, 2016 | Reverse Mortgage, Purchase Loans, Down Payment, homeloan, thealpineteammortgage, The Alpine Team, The Alpine Team cares about our Seniors