November 10, 2011

Guest Article: The Mortgage Vault is OPEN!


I’m not going to boldly advise everyone reading this newsletter to go out and buy a house this week. The decision to buy a new home, a vacation home or a rental property is a major step that should be taken only after a great deal of thought. With that in mind though, if your personal financial house is in order, now is a great time to make an investment in the housing market.

Contrary to what the national media will lead to believe, let me assure you that the mortgage business is OPEN!  If your hesitation to buy real estate comes from negative press about the mortgage industry, look beyond that.  Banks are lending…and anxious to help you!

The majority of our country’s housing problems are due to unscrupulous lenders offering loans to people that simply couldn’t afford them. Those mortgage companies, for the most part, are out of business now and their employees have moved onto other industries. My bank, Real Estate Mortgage Network, has been in business more than 20 years and has weathered the housing crisis due to our commitment to quality loans and incredible customer service.

Why is now a great time to buy? To begin, homes in Myrtle Beach have become extremely affordable. Because of our wonderful beach, there’s a plethora of vacation condos on the market. Further inland, there are terrific opportunities to be had as well. Many properties are selling far below their value of just a few years ago and they need to be moved quickly. This gives the buyer a great deal of leverage in the negotiation process.

In addition, mortgage rates are at historically low levels for the home buyer. Forecasting mortgage rates is a bit like forecasting the weather, and predicting when they may rise is nearly impossible…but they will rise eventually. Buying low is always a great move!

Another reason to consider buying now is the flexibility of the mortgage products currently available. Real Estate Mortgage Network is a large-scale, independent lender and not tied to any other bank.  We’re able to offer a true variety of flexible mortgage options customized to your personal needs.

Recently, we introduced our own FHA 203(k) Concierge Service. In essence, a 203(k) mortgage bundles together a home improvement loan and mortgage into one package. You buy the home and fix the home…with one loan! 

Most lenders do not offer 203(k) loans because their complexity often leads to unexpected problems with payments to contractors and other issues. Our 203(k) Concierge Service Mangers work with all the parties involved to ensure everything goes smoothly and according to plan. While 203(k) loans can’t be used for luxury items such as swimming pools, they can be applied to other renovations, such as room additions, painting, kitchen remodels and energy conservation upgrades. If the property you’re considering buying is ‘almost perfect’, a 203(k) loan could be the right solution.

Our economy is on the track to recovery and with it, housing costs will almost certainly begin to rise. If you’ve been considering purchasing a new home or an investment property, now may be the perfect time for you to act. With historically low interest rates, the variety of the mortgage products available and truly affordable properties on the market, everything is in the buyer’s favor to make a great investment.

We’re open for business and ready to help you in your search for the right property!

Have questions? Feel free to call me at (843) 446-4663 or send an email to

About Roy:
Roy Dunn is a Virginia native and resident of Myrtle Beach for more than 10 years. A graduate of The College of William and Mary, Roy has more than 25 years of experience in financial markets. Roy and his REMN team of industry professionals are committed to delivering the highest level of service, while offering the best programs and rates available. Active in the community, Roy is a youth football coach and an Elder in the First Presbyterian Church of Myrtle Beach.

More information on Real Estate Mortgage Network, Inc., can be found online at