Nov 3, 2014

We Love First Time Homebuyers!

Desai El Sereno


The team just closed escrow on this house in El Sereno.  We were fortunate to work with first time homebuyers who were amazing to work with.  We here at the Groves Lending Team do not understand why some lenders are reluctant to work with first time homebuyers.

From our first meeting we were able to help coach the borrowers on the steps they needed to take in order to qualify for the house of their dreams.  Besides coaching, we were able to restructure the loan so that much to the relief of the borrowers.  From question 1 to 1,991 we were able to not only answer their questions but also we were able to explain everything in great depth to them.  At the end of the process, the buyers were very happy with the entire, stress-free process. For every question we had on the loan side, the amazing Rob Hanson answered on the real estate side.

If you want to work with a realtor who not only has the answers, but also can explain the how, what, and why, the team suggests Rob Hanson from Keller Williams Larchmont.  Rob Hanson can be reached at or 310.989.5050

If you are a first time homebuyer or are working with one that has a million questions,  contact Patrick O’Driscoll at 818.681.0873 or

Nov 3, 2014

10% Down With a Non-Owner Occupant

Serna City Terrace

The team just closed on this home in City Terrace with the borrower putting 10% down.  We were able to help a borrower move from San Diego to LA for his new job.  What made matters even more complex is that we were able to include his business partner, who owns multiple homes, as a non-occupant co-borrower.  This allowed our buyer to qualify for the loan.

With an extremely tight deadline, all parties involved in the process were on the same page and worked diligently to close escrow early, even when several repairs were needed.  We were lucky to work again with the buyer’s agent, Rob Hanson from Keller Williams Larchmont, and for the first time with Kathryn Tong at City Lights Realty.  Both realtors made this a team effort from start to finish.

For anyone looking to purchase a home in City Terrace and its surrounding areas, the team recommends Rob Hanson, who can be reached at or 310.989.5050

For anyone looking to purchase a home in Alhambra and its surrounding areas, the team recommends Kathryn Tong who can be reached at

If you have any questions about a non-occupant co-borrower,  contact Patrick O’Driscoll at 818.681.0873 or

Nov 3, 2014

Buying a Duplex with Low Money Down – We Can Do That

Reilly duplex 203ksl highland park


The team just closed on this cool duplex in Highland Park.  We have heard that a lot that realtors don’t accept FHA offers because they are weak offers.  Well, that is simply not true at all.  Not only did we get our FHA offer accepted, but the property was also a duplex.  Many said it could never be done, but when you work with an amazing buyer’s agent and can write an offer with no loan contingency it can be done. We were able to close in 15 days.  That’s what we can do.

When you combine a strong offer with no loan contingency, a fast closing, and an amazing buyer’s agent, nothing can stop you.  With the great team over at The LA HomeGirl, we knew what to expect from one another and worked closely to close this deal early.

If you’re looking for a home in the Highland Park area, we highly recommend Kenya over at The LA HomeGirl Team.  She can be reached at

If you are a realtor that wants to have a leg up on all other offers, then call Patrick O’Driscoll at (818) 681-0873 or email him at

Nov 3, 2014

Small Renovation Loans – We Can Do That

Rose Mt Washington

The team just closed this cool home in Mt. Washington.  We know what you are thinking: “A home in Mt. Washington? The Groves Team does that all the time!”  While that is true, it is not often that a buyer will see the hidden potential in a property and realize that all that needs to be done is some minor renovation work to make it great.

In this case our first time homebuyers had heard all about the FHA 203K loan program but did not know about the streamline program. Basically the FHA 203K streamline program allows a borrower to buy a home and include up to $30,000 for repairs into the loan.  Since it is not the traditional full 203K loan, there is only one appraisal and no need for a FHA consultant.  When it comes to renovation loans, everything is based on the contractor’s bid, so it is of the utmost importance to get that in so the loan can be started. Once we were able to get the bid from the contractor, and saw that there was no structural work needing to be done, we were able to get the appraisal done and work on closing the loan.

All renovation loans are tricky but add a borrower who has income from multiple sources and it is even harder. If it weren’t for the help of Courtney Smith of  Courtney and Kurt Real Estate in Atwater, this deal would have been even trickier.  The team highly recommends Courtney for all of your real estate needs. She can be reached at or at 323.667-0700.

If either you or your clients are interested in renovation loans, you can reach Patrick O’Driscoll at

Nov 3, 2014

Offer Accepted Because No Loan Contingency – That Is What We Do

Eckhardt cuypres park

The team just closed on this turnkey home in Cypress Park. After working with the buyers for over a year, it was great to get them into their new home.

It was even better to find out that we had our offer accepted over a higher offer because our buyer’s offer was written with no loan contingency.  At movement mortgage we are able to fully approve our borrowers upfront before they ever find their dream home.  That way, once they find it they can write an offer just like a cash offer.

The other great thing that we do is when an issue comes up with the property, which happened in this case, we do not stop working on the loan.  A problem was found with the sewer connection and while everyone was waiting on word from the city, we kept working on the file as if nothing was wrong.  Once the issue was resolved, we were able close early, which was a nice bonus to all involved in the transaction.

This escrow would not have been so smooth if it weren’t for our amazing realtor partners.  Renee Kische at Nourmand & Associates was able to keep the buyers calm and collected throughout the process, especially when problems arose.  Also, the help from Rose Garcia at Garcia Real Estate Group was unbelievably valuable to help with finding a solution to everything that popped up.

If you are looking to work with an agent who knows her stuff and is terrific to work with, our team recommends Renee Kische.  Renee can be reached at 323-377-7976 or at

If you are looking to buy or sell in Cypress Park or the surrounding areas, the team highly recommends Rose Garcia.  Rose can be contacted at 877-633-6927 or at

Need a fully underwritten pre-approval completed so that you can make an offer just like a cash offer? Call Patrick O’Driscoll at (818) 681-0873 or email him at

Sep 12, 2014

No Loan Contingency Seals the Deal Again!


The team just closed escrow on this wonderful home.   Great rate, docs out 7 days early, happy client… all the same old good stuff when it comes to the Groves Lending Team and Movement Mortgage; however, what really was special about this deal is how we got the offer accepted.

Thanks to our up front underwriting process, full loan approval and unique offer strategy, the buyer’s agent was able to present this offer with NO loan contingency.  Knowing that the buyer was 100% approved, the listing agent was able to ensure her client that this was a deal that wasn’t going to fall apart.

As usual, three great agents were involved in this transaction.  The seller got a great price, the buyer got into an amazing house with no headache and the team closed early.  A true win-win for all parties.

Looking for a wonderful agent to help you buy in the Atwater area?  Mark Mintz with KW Los Feliz is wonderful and can be reached    Thinking of listing your home in Atwater Village?  Few if any Realtors have the local expertise of Kurt & Courtney.  Kurt & Courtney can be reached via email at

Want to close your deals early?  Call Scott Groves @ 818-679-5188


Sep 12, 2014

5% Down To Avoid Costly Up Front Mortgage Insurance


The team just closed escrow on this very cute starter house for a client who was looking to keep her monthly payment as low as possible.  With only 3.5% down, most lenders would have immediately steered this client into an FHA loan.  FHA loans are great for certain buyers; however, for buyers with superior credit scores and access to 5% down, there is a better option.

Many clients are unaware that by putting 5% down, they can avoid the costly up front mortgage insurance associated with an FHA loan.  Additionally, homeowners can usually save 30% on the cost of monthly mortgage insurance by obtaining a 5% down mortgage with private mortgage insurance versus an FHA loan with government mortgage insurance.

In our business it’s all about helping clients find the right product.  By making this one small tweak on the loan application — 5% down versus 3.5% down — this client is saving $250 a month.  Big win for our team, the client and the Realtor who referred her to us.

As always, this deal couldn’t have happened without the support of our amazing Realtor partner Kenya Reeves-Costa over at   Need help buying a home on the eastside?  Get in touch with Kenya and her team.

Need help structuring the correct low money-down purchase for you and your family?  Call Scott Groves @ 818-679-5188 or apply online at

Sep 10, 2014

Closing a Condo Purchase in 11 Days – Ya, We Can Do That



Recently one of our Realtor partners brought us a deal that was falling apart because one of the big banks had dropped the ball.  Appraisal came in 20% low, condo department was having trouble approving the project and the client had already paid for two different appraisals in hopes of finding a way to close escrow on this awesome Pasadena property.

To add insult to injury, this purchase was transaction #1 in a string of 3 different purchases and sales.  This deal falling apart would mean the lives of six different families would be disrupted, Realtors would lose commissions and properties would have to go back on market.

With only 4 days to remove all contingencies and 15 days to close escrow, our team took over.  We received the appraisal back, AT VALUE, in 48 hours, obtained condo approval in 5 days, and were out to docs in 10 days.  Amazing effort by The Groves Lending Team, Movement Mortgage, the buyer and the agents.

As always, this deal wouldn’t have come together nor would it have closed so quickly were it not for the professionalism and amazing response time provided by our Realtor partner Richard Wilkinson.  If you’re looking to buy or sell a condo in the Pasadena, Eagle Rock or Highland Park areas – the team highly recommends Richard.  You can reach Richard via his website @

Need helping closing a deal quickly that has fallen apart with a big bank?  Call Scott Groves @ 818-679-5188 or apply for a mortgage at

Sep 2, 2014

Jumbo loan in Pasadena, No Problem


The team recently closed this loan with one of our jumbo portfolio lenders.  The great thing about being a direct lender with correspondent jumbo sources is that we have the low rates and financial backing of larger jumbo portfolio lenders while STILL controlling the work-flow and underwriting in-house.

Most brokers and smaller regional lenders have ‘access’ to jumbo lender – but only at a wholesale relationship level.  What this means is that broker ABC has to package a file, send it out to a jumbo lender, then wait for a response.  Our team, through Movement Mortgage, has been able to set-up a correspondent relationship in which we control 90% of the process from start-to-finish with some limited oversight by the jumbo loan provider.

Using our internal underwriters, processors and doc-drawers on a jumbo loans allows us to still to close deals quickly and efficiently.  This jumbo loan in Pasadena closed in under 30 days.   As usual, we couldn’t have done it without our local area expert Liz Johnson.  Liz is a Realtor with Teles Properties and excels in assisting clients who are looking to sell one property and upgrade to a new home.  Check out more about Liz Johnson via her website at

Need to work with a jumbo lender who can deliver a quality loan in under 30 days?  Contact Scott Groves and his team at or 818-679-5188.

Sep 2, 2014

Quick Close in La Crescenta

La Crescenta

The team just closed escrow in 21 days on a great house in La Crescenta.

From opening bell to keys-in-hand, our team, in conjunction with our wonderful Realtor partner Kari Carson, closed escrow on this house in 21 days.

Even a fairly complicated transaction including a departing residence was no match for the quick underwriting and processing of Movement Mortgage + The Groves Lending Team.  Through “pre-underwriting” all our files, our team does not stop at the traditional pre-approval stage.  We take every file a step further and get a full underwriting decision on every loan application we take, before an offer is even made.  By doing most of the heavy lifting up front we are able to close deals more quickly and efficiently than our competition.

Need a wonderful agent to help you find a home in La Crescenta?  The team highly recommends Kari Carson.  She can be reached via email at or by phone at 818-424-5537.

Need a fully underwritten pre-approval completed so that you can make an offer to buy property with a 21 day escrow?  Call Scott Groves and his team at Movement Mortgage at 818-679-5188.


Scott Groves     |     Your Trusted Lender

Groves Lending Team

A Los Angeles based lending team specializing in conventional and FHA purchase mortgages. The Groves Lending team can manage the entire loan process providing clients with efficiency and accuracy.

(7:00am-7:00pm / After hours)