Pennsylvania Business Networking

Time & Location

We meet every Tuesday from 7am until 8:31am at the Whitford Country Club
Click here for the map.

LeTip Chester County East met on Tuesday, September 22, 2015 at the Wyndham Garden Hotel in Exton, PA. We welcome new member Matt Simmers, a banker with First Niagara Bank. We were also joined by guests representing promotional products, payroll services, solar power, and auto detailing.

Our showboater was Garret Davey (This email address is being protected from spambots. You need JavaScript enabled to view it.), our electrician. He displayed several lighting options that he can install. Of course, he can work to solve all sorts of electrical issues.

Our speaker was our mortgage broker, Lonnie Cooper (This email address is being protected from spambots. You need JavaScript enabled to view it.). Lonnie spoke with us about adjustable rate mortgages (ARMs). ARMs have all the same closing costs as a fixed rate mortgage, but they initially have a rate that is lower than the typical fixed rate mortgage, and this low rate is locked in for a period of time (e.g., two years). After that initial period, however, the rate may change, and there is no way to predict how it will change. There is a cap to the amount that the rate can increase (2% above the initial rate), and the rate won't go above that cap for a year. Then there is a secondary cap for the next year of another 2%. The final cap sets the rate at no more than 5% above the initial rate. ARMs make the most sense for people who know that they won't be staying in their house long-term. Young people who plan to move to a larger home within a few years or military families who move every couple of years are typical candidates for ARMs. For questions about rates or more details about how to choose the best mortgage product, please contact Lonnie.

Random Member!

Lonnie Cooper - Mortgages

Lonnie Cooper - Mortgages
V.P. Sales
The Rate Kings Mortgage, LLC

LeTipCCE Secretary
LeTip Member Since July 2013
1101 Carroll Hill Dr, West Chester, Pa 19382
610-572-3635 Voice
610-590-4825 Mobile
800-892-1798 Fax
www.theratekings.com    
Send Lonnie an Email
NMLS #24432
Mortgages Exton PAMortgages in PennsylvaniaRate Kings Home Mortgages

As a Mortgage Broker with The Rate Kings LLC, I can offer you a wide range of mortgage products, from helping you purchase your 1st home, refinance it years later or even purchase an investment property.   With access to a broad medley of fixed and adjustable loans I can help you make an educated choice based on your individual profile.

Read more ...

Letip Creed

"LeTip is a professional organization of men and women dedicated to the highest standards of competence and service. Our purpose is the exchange of business Tips. Members will, at all times, maintain the highest professional integrity. Each business category is represented by one member and conflicts of interest are disallowed."