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First-Time Homebuyer in Fullerton Beats Out Higher Cash Offers with an Assist from TMH

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Aldo and his wife Jessy were finally ready to realize their dream: to buy the first house that they and their two young children could call home.

But the view of that dream was clouded with doubt when they faced the reality of the Orange County real estate market. A combination of low inventory and stiff competition from both house flippers and more seasoned buyers meant that their first few offers didn’t amount to much.

Knowing that Aldo and Jessy needed an edge to compete with the all-cash offers they were up against, their agent, Bobbi Vogel of Keller Williams Shoreline, suggested The Mortgage Hub (TMH).

 

Aldo Makes The Mortgage Hub Call

Like any savvy homebuyer exploring financing options, Aldo shopped around, speaking with several different mortgage lenders and brokers. When Bobbi suggested he give The Mortgage Hub a call, he was still in the midst of discussions with a few other mortgage brokers.

After Bobbi explained how The Mortgage Hub’s service and speed to close would help them submit more competitive offers, though, Aldo wasted no time and made the call. Of course, as a first-time homebuyer, Aldo had lots of questions. Following his conversation with The Mortgage Hub’s Salomon Chong, though, he was impressed with the simple but comprehensive answers he received.

Ultimately, on why he chose TMH, Aldo said, “You guys can close quick. This could end up meaning the difference between us getting a place or not.” It was this key advantage, plus their trust in their agent Bobbi, that helped Aldo and Jessy decide to go with The Mortgage Hub.

 

A Rare Competitive Edge for the First-Time Homebuyer in Orange County

Having made several offers, Aldo, Jessy, and their agent Bobbi decided to take a break and regroup. A week later, on the same street they lived on, a gorgeous, move-in ready home came on the market. Bobbi brought Aldo and Jessy over and they immediately fell in love and submitted an offer.

“Even though they weren’t cash, we were able to write an offer that was competitive with an all-cash offer because The Mortgage Hub was able to write it with such a short close. It was a 14-day close,” Bobbi said.

Despite the fact that they were up against a higher offer and a slew of all-cash buyers, Aldo and Jessy came out on top. Bobbi added, “Had I not been able to write the offer the way I was able to write it, they wouldn't have gotten the house.”

 

The Mortgage Hub Process

While it has become second nature for Salomon and the team at TMH to close deals in 15 days or less, for homebuyers, the sheer speed of the process and volume of documentation can be overwhelming. Fortunately, Salomon has grown accustomed to accurately setting expectations for his clients. Having gone through the process, Aldo said, “If you hadn’t warned me, I probably would have been overwhelmed.”

But, as Bobbi can attest, the rapid-fire service from TMH is a key competitive differentiator for agents as well as buyers, particularly in a hot seller’s market.

On the successful closing of Aldo and Jessy’s new home, Bobbi said, “I don’t know if we would have gotten this because there were several other offers. We were able to get it because you jumped in anytime I needed something.”

 

First Time’s a Charm

Thanks to the responsiveness and cooperation of first-time buyers Aldo and Jessy, along with the collective efforts of TMH and Bobbi Vogel at Keller Williams Realty Shoreline, this young family of four has a place to call home for a long time to come.

And they didn’t have to settle.

In fact, Aldo and Jessy lay claim to what is now a rare luxury for first-time homebuyers in Orange County—a move-in ready home in the same city that they started their lives together: Fullerton, California.

 


 

Transaction Details

Type: Real Estate Purchase of a Primary Residence

Buyer Profile: First-Time Homebuyer

Product: Single Family Residence

Location: Fullerton, CA

Buyer: Aldo R.

Buyer's Agent: Bobbi Vogel (Keller Williams Shoreline Realty)

Listing Agent: Kathryn McCarthy (First Team Realty)

Mortgage Broker: Salomon Chong

Mortgage Broker Company: The Mortgage Hub (TMH), Huntington Beach, CA

 

Transaction Notes

With an original projection to close in 15 days, The Mortgage Hub closed in 12 after offering a self-imposed $500/day penalty paid by TMH to the seller for each day after the 15-day contractual close.

 

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About Author

Salomon Chong (NMLS: 943733)
Salomon Chong (NMLS: 943733)

Salomon Chong is the co-founder and CEO of The Mortgage Hub Inc. He moved to the US from the small Caribbean island of Curacao in 1998 to attend Penn State University. Salomon graduated in 2001 with a degree in Supply Chain Management and moved out to Los Angeles to work as a Supply Chain Analyst for Nestle. Within his operations role, he worked closely with sales and marketing on creating processes that integrate all three facets of the organization. Having many friends within the mortgage industry, Salomon found a common theme and that the industry is generally reactive, non-integrating, and often has conflicting operations, marketing, and sales processes. He then decided to apply his experience of integrating operations, marketing, and sales and co-founded his own company called Personal Real Estate Services which later became The Mortgage Hub Inc., with his business partner Phil Checinski. In his free time, Salomon loves hanging out with his family and enjoys staying active through Crossfit workouts, running, boxing and swimming.

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