Apr 8, 2015

Increased Equity = Remodel

Loesh highland park refi


The team just closed escrow on this Highland Park refinance for which the team did the original loan for two years ago.   It is amazing what can happen in two years, especially in a neighborhood like Highland Park.  Because of rising home values, our borrowers were able to do a cash-out refinance for a large remodel and still have more than enough equity to avoid mortgage insurance.

This was a win-win for our clients: funds for a remodel, a lower interest rate and no mortgage insurance.

If you are planning a remodel, or just need cash, call Scott Groves @ 818-679-5188 or apply online at www.LendLA.com and see if a cash out refinance will work for you.


Apr 6, 2015

We Love First Time Homebuyers


The team just closed on this Highland Park condo.

We always feel fortunate to help first-time homebuyers achieve their goal of homeownership.  Our borrower was able to provide us with all of the required documentation upfront and all underwriting conditions within an hour.  When the offer was made, our borrower was completely approved so he knew the absolute maximum sales price so he could offer without any hesitation.  And thanks to the agent’s help we were able to get the condo approved before the initial offer was even made.  It is a great feeling to be able to tell a first time buyer that the loan and the condo complex is 100% approved, and that as long as inspections come back positive, the unit is his.  This is the reason why we love our job so much.

We and our client were extremely lucky to work with the one and only Adam Bray-Ali.  Adam was able to get us everything we needed super-fast.  He was also responsive and reassuring throughout the process, making the overall experience for our client amazingly easy. The team highly recommends Adam for all of your real estate needs.

If you are a first time homebuyer and want to have an advantage over everyone else, call Scott Groves @ 818-679-5188 or apply online at www.LendLA.com

Apr 2, 2015

Closing Early Is Always Good

Rowinski NOHO B christy lindgren L scott nell

The team just closed on this adorable home in North Hollywood.

As with many of our loans, this one closed in less than 30 days. It shows that when a borrower provides us with all of the required documentation up front, we can get a loan funded very fast.

Between the helpful buyers’ agent – Christy Lindgren at Bond Real Estate–  and a sharp listing agent – Scott Nell of the Scott Nell Team– we were able to close escrow early.

If you want a stress free escrow that is lightning fast, call Scott Groves @ 818-679-5188 or apply online at www.LendLA.com


Apr 2, 2015

Condo Pre-Approval

Funnell Los Feliz B john david forsyth L mica cambell

The team closed on this condo in Los Feliz. 

We have successfully funded several deals in this complex; the reason we are the go-to lender is our condo pre-approval process.   As you know, when it comes to condos, if any information when it comes to the HOA, most lenders (especially the big banks) will deny the loan.  With our amazing condo pre-approval process, when buyers find a condo they wish to write an offer on, the agent only needs to provide three pieces of information to us: We need the name of the complex, and the contract person’s name and phone number. That’s it.  From this information, we will know if the complex you are writing on is approvable.  Once a condo is approvable—whether this particular buyer goes into escrow or not — the complex is added to our list of approvable condos.   Having everything pre-approved allows us to either go into a new escrow on a complex that is new to us and know it’s approved , or allows for the next escrow on the building to move even faster and more smoothly.

We worked with John-David Forsyth on the buyers’ side and Micah Campbell on the listing side.  Both agents were integral in helping our escrow to move smoothly from start to finish.  If you want to buy in Hollywood and its surrounding areas, our team highly recommends John-David. If you are looking to sell in Los Feliz and its surrounding area, the team also highly recommends Mica.

If you have any questions about condo financing or our condo pre-approval service, you can reach Scott Groves @ 818-679-5188 or apply online at www.LendLA.com

Apr 1, 2015

Are We Dating OR Are We Married?

I want to talk about commitment.  We all know that in personal relationships there is a different level of commitment when you’re dating someone versus when you’re married.  That is why the dating versus married analogy is quickly becoming my favorite to use with new buyers. Feel free to borrower it :-)

Let me expand on how I explain this to new buyers.

We are flirting when… we first start talking.  In the initial phone interview or email interaction we are getting to know each other.  Hopefully you were introduced to me by a trusted advisor. Discussing long term financial plans, loan options, rates, terms, down payment, employment and how to structure the deal is the flirtation stage of the loan process. Our relationship is just starting. As a buyer, you can flirt with as many loan officers as you like. In fact, I encourage it. Get all your flirting out of the way now. Flirt with your cousin’s-friend’s-brother’s-ex-roommate who is a mortgage-broker in Temecula.  Flirt with the loan officer at your Credit Union.  Have an online romance with quicken.com or other Internet lenders.  PLEASE, I want you to know you are picking the right partner… flirt with as many loan officers as possible.

HOWEVER, we are dating when… we start to work on your loan approval.  On your side, providing paperwork, filling out applications and tracking down financial statements is hard work.  On our side, thanks to Movement Mortgage’s UP-FRONT process and FULLY underwritten approvals, we are putting in a LOT more work than other suitors.  Yes, you are still welcome to look around and flirt, but this relationship is definitely going somewhere.  You should be ready to get serious at this point and avoid the sales pitch of any other flirt.

We are engaged when…  you start making offers.  At this point in the relationship, you are making an offer that has certain contractual obligations to the seller about what type of financing timelines you can meet.  As the lender, I am making a personal and professional commitment to you, your agent and the seller of the property that I can take care of you and close this deal.  I’m putting my reputation on the line to help you get this offer accepted.  Yes, like any engagement, you can call it off if it’s absolutely not the right long-term fit, but the invited guests (the seller and the listing agent) are going to have a bad taste in their mouth.  Remember, these are people you have to work with for the next 30 days.  Re-shuffling the wedding seating chart can lead to lots of problems and hurt feelings.

We are married when… the offer gets accepted.  Congratulations, we are married, in escrow and are committed to closing this deal together.  Yes, at times the grass may appear greener on the other side.  There may even be a better looking spouse out there somewhere (probably on the Internet); however, we both know that we are going to work hard for each other to ensure the best possible outcome and a successful close of escrow.   Does divorce happen, do client sometimes change lenders mid escrow?  Yes, it happens.  However, there better be a good reason and an understanding that there may be negative financial consequences to getting divorced.

If you’re not happy in the marriage, call me and we will figure it out together Scott Groves @ 818-679-5188 or apply online at www.LendLA.com

Feb 24, 2015

Denied By Everyone Else – We Can Do That

calicchia manhatten beach condo jeffery peldon kw


The team just closed on this beautiful condo in Manhattan Beach.

Our clients had two lenders tell them that they could close, but due to the way they structured the loans, the loans were declined. By the time we received the call, the clients were completely defeated and hoping for a miracle.

Thankfully for them, we here at the Groves Lending Team think outside the box.  By changing the way the loan was structured, we were able to get it approved, and ultimately get our clients into their new home.  It’s always great to help people buy their home, but it is even better to save a deal from another lender.

A big thank you to the buyer’s agent Jeffrey Peldon, for sending his clients over to us and allowing us to deliver when others couldn’t.  If you are looking for an agent on the Westside of LA, the team highly recommends Jeffrey Peldon.

If your lender is not performing, call Scott Groves @ 818-679-5188 or apply online at www.LendLA.com


Feb 23, 2015

Refinancing From The Last Frontier – We Can Do That

Thorne woodland hills refi


The team just closed on this refinance in Woodland Hills.

We were able not only to get rid of the mortgage insurance from the existing loan, but we were also able to save our clients over $600 a month on their mortgage payment.  I am sure you are thinking any lender can get rid of mortgage insurance and save a client money.  Well that may be true, but not every lender can close in under 30 days.  Especially when one of the co-borrowers is working on a project in Alaska.  With our refined process, we were able to get the loan docs out super-fast and sent up to Alaska for signing and notary.

Can your lender close a loan fast and be able to work with a co-borrower in the last frontier?  If not call Scott Groves @ 818-679-5188 or apply online at www.LendLA.com


Feb 22, 2015

Finding The Right Jumbo Investor – It Is What We Do

Calloway Atwater Anslem

The team just closed on this cute home in Atwater Village.

Whenever the word jumbo is used in lending, there is a an aura ere of fear, especially when the client is only putting 20% down. This is because jumbo loans have different guidelines compared to conventional loans.  To make matters even more difficult, because of these guidelines, jumbo products typically take longer to close.

When the team met the client putting the offer on this home, we were able to vet the lenders and find the best fit.  Not only was the client happy with the loan we were able to obtain for him, we were also able to close on time on a 30 day escrow.  Everyone involved on both sides of the transaction where extremely happy.

We are so lucky to work with only amazing agents like Anselm Clinard from the world famous Anselm and Alyssa team at Nourmand and Associates.  If you are looking for a home in Atwater and the surrounding areas, the team highly recommends Anselm.

If you have any questions regarding jumbo loans and which might be the best for you, call Scott Groves @ 818-679-5188 or apply online at www.LendLA.com


Feb 19, 2015

Refinance In Under 30 Days – We Do That All Day Long

Ruz Glendale Refi


The team just closed a refinance on this picturesque house in Glendale.

Unlike most lenders, we here at the Groves Lending Team do not wait for past clients to call us when they are ready to refinance. We proactively keep in touch with all of our clients after they purchase a property. This allows us to let them know when it is the right time to refinance.

With our constant monitoring of the bond markets and our amazing follow up, we were able to perform a no cost refinance and save our client over $200 a month on her mortgage.

Does your lender proactively follow up with you to let you know when it might be time to refinance?  If not, call Scott Groves @ 818-679-5188 or apply at www.LendLA.com


Feb 3, 2015

Taking Advantage of the New FHA Mortgage Insurance Premium

Oxley-Butler Highland Park

The team just closed on this home in desirable Highland Park.  This was a normal escrow with an FHA loan in place. But during escrow, the FHA announced the reduction of annual insurance premiums. Once the announcement was made we were able to give our borrowers the great news that the high monthly mortgage insurance was going to be reduced dramatically. The bad news was that in order to go with the new mortgage insurance, we would have to wait until it went into effect near the end of escrow. Instead of stopping and waiting for the new date, we continued working on the file so that all we needed was the new mortgage insurance so that we could close quickly, since the seller was waiting to close on his new home. Once we were able to get the new insurance premium, we had docs out and signed, the loan funded, and had a special recording all in the same day.

This escrow was truly a team effort on all sides. Rose Garcia from Garcia Real Estate Group was amazing, helping to keep the borrowers focused as well as teaming up with us so that everyone was on the same page. She was also instrumental in keeping everyone involved up date throughout the process. We were also fortunate to be working with Jo O’Key and Brian Dittmar from The O’Key Group on the listing side. Both Jo and Brian were able to work with the seller to keep him well-informed about the reason for the changes to the loan, not an easy thing to do.  Jo and Brian understood that everyone was on the same team to get the transaction closed and did everything they could to help effect it.

If you have any questions about the new FHA mortgage insurance premiums or are interested in a FHA home loan, call Patrick O’Driscoll @ (818) 681-0873 or apply online at www.PatrickODriscoll.com.


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)