Loading...

Welcome to Bank of England Mortgage

You need someone on your side when you’re buying a home. Who makes sure you aren’t doing paperwork you don’t have to do. Who speeds up some of the steps you can’t avoid. You need a “blocker,” clearing the way of obstacles as you head toward your goal.

That’s where I come in! Welcome to Bank of England where I make the process of applying for, getting approved for and closing a mortgage loan simpler and easier than you ever imagined. At Bank of England, we are literally ‘here’ with you every step of the way. We do not send your information to another State or time zone to be ‘processed’ in some cubicle farm by someone sitting at a computer screen. It all happens right here, in our office, where we have complete control of it. Start to finish, your loan never leaves our office.

For over 30 years I have been teaming up with home buyers and their real estate professionals to make sure the process goes as smoothly and quickly as possible. After you’ve found your new home is when you need us the most. That’s when all the real work begins. The paper work really comes rushing at you. There are appraisals, preliminary title reports, inspections, escrow requirements and many other details to be dealt with. I work closely with your agent to ensure that you have the very best team working on your behalf.

As a mortgage banker, we are different than your commercial bank. Our only business is mortgages. We are truly specialists. We do not offer checking accounts, safe deposits or car loans. We are mortgage loan experts. It’s our only business, so we have to be better at it. For the biggest financial decision of your life, go with the expert!

My team specializes in helping veterans utilize the benefit they have earned.  Our years of experience is here to help you. 

Testimonials & Publications
True Stories of Veterans we have helped.

Apply Now
Use our secure online mortgage application.

The Maurer Group
Specializing in VA Home Loans.

Need Additional Information
Email us at: dmaurer@boemortgage.com

Newspaper Articles & Testimonials

Myths and misunderstandings prevent many veterans from using full benefit

Veterans should make sure to choose lenders who ‘speak the VA’s language’

By Erinn Hutkin
for Oregonian Media Group Marketing

As a mortgage lender who’s approved to loan nationwide, and who’s spent decades helping veterans across the United States secure home loans, Dick Maurer says that Veterans are spending thousands of extra dollars by not using their VA eligibility. Surveys show that VA loans have the lowest rates of the three main types of loans. Nearly one-half of a percent lower rate than conventional loans. Unfortunately, the Veterans Administration loan program suffers from a lingering poor reputation that may have been true decades ago but that it no longer deserves. With estimates that only 20% of eligible Veterans are using the program, too many are paying too high a price for their mortgage.
Yet Maurer, a Beaverton-based Senior VA Mortgage Advisor for Bank of England Mortgage, says changes over the years have made the process easier and better for veterans and lenders alike. For instance, the appraisers are now the same ones doing conventional and FHA appraisals. They use the same forms and they are using almost identical property standards as well. Underwriting approval is now done by the lenders, not sent to the VA first.
The word is getting out. Top producing Realtors are encouraging their Veteran clients to strongly consider the VA program. They see the obvious benefits of lower rates, easier qualifying and 100% financing with no monthly mortgage insurance. It’s what is best for their Veteran clients. As evidence, he points out that the VA set an all-time record for loans closed in 2016.
The key, Maurer said, is using a mortgage professional who has years of experience with VA loans. “There are some very good loan officers who don’t do VA loans because they know that they don’t know the program” he explained. “While VA loans are different, they’re not any harder than a conventional or FHA loan when it’s in the hands of someone who knows how to do it. My staff and I know what we’re doing. We understand the VA processes and speak the VA language”
“The VA exists for the benefit of our Veterans” says Maurer. “If there is any benefit of the doubt to be found, the VA, unlike conventional or FHA loans will give it to the Veteran.” This is especially true for Veterans who have had some credit challenges such as bankruptcies, foreclosures or late payments. Veterans who have had a short sale may not be subject to a waiting period in some circumstances.
Veterans should be aware that;
• There is no limit on the number of times a VA loan can be used. It’s not just for starter homes;
• VA jumbo loans often have less than 10% down;
• VA loans have no maximum loan amount;
• VA eligibility does not expire, it is good for life;
• Guard and Reservists from the Viet Nam and Korea era were granted home loan benefits retroactively in 1993;
• Self-employed or commissioned Vets may get more of their income used to qualify.
The most important decision a Veteran can make with their VA loan is choosing the individual loan officer, not the company, who will guide the process. Ask about their individual experience, such as how many VA loans they have personally done or how long they have been doing them. Ask for references or testimonials from satisfied Veterans. Veterans tend to be grateful and send cards or letters to say “Thank You” for a job well done. Ask to see some. If the loan officer says things like “we do VA loans” or “my company does VA loans” you need to question more deeply. Maurer says “Veterans should choose an experienced person to guide and manage the loan process for them, not rely on “we” or “my company”.
Maurer says “Very few lenders know the language and the processes of the VA. It’s easier to simply blame the VA for the lender’s own mistakes. Choose wisely so that your VA loan gets on track, stays on track and closes on track.”

One VA loan enables family’s four generations to live under one roof

By Phil Favorite
for Oregonian Media Group Marketing

An American serviceman’s benefits from the U.S. Department of Veterans Affairs (VA) last a lifetime. That fact helped veteran Leedell Fennell take care of 4 generations of his family some 40-plus years after he served as an Army paratrooper in Vietnam.
Living in a multi-level home suitable for a retired couple in Maryland along with his wife Velma’s father, the couple faced multiple challenges. The first was that they had taken over the care for Velma’s father, retired Major Newkirk, who was a 91 year old, fully disabled WWII Veteran confined to a wheelchair and who wanted to spend his last days at “home” in North Carolina. Then their adult daughter, Pamela, was diagnosed with cancer and could no longer take care of herself and her two sons.
Suddenly they needed a house big enough to house 4 generations. In addition to Major Newkirk, Pamela and her sons would be moving in while she battled cancer. To further complicate things, the house needed to not only be much bigger, it needed to be in North Carolina and have enough room on the ground floor to accommodate a wheelchair.
“My father was confined to the lower level and had access to only two rooms,” Velma said. “We were already hoping to move, but when my daughter came home, our needs really changed.”
With mounting expenses for their daughter’s treatment and a fixed income, the Fennells faced an uphill climb in trying to secure financing for the new home they targeted to buy in North Carolina. But after days and weeks of searching for a lender they could work with, they came across the name of a mortgage broker in Beaverton, Oregon who offered hope.
Dick Maurer of Bank of England Mortgage is an expert at helping veterans secure home loans through the VA. He would play a key role in helping the Fennells solve their problems.
“There were some things we needed that we weren’t sure how to address,” Velma said. “But when we talked to Dick, he said that if this is the house we wanted, he was going to do everything he could to help us get it.”
“Because they were coming out of the Maryland area at a time when property values had been depressed, they had a couple of issues we had to work on from a credit standpoint,” Maurer said. “VA tends to be much more understanding and if there’s a benefit of the doubt, VA will give it to the Veteran.”
After speaking with the Fennells by phone, Maurer assessed their situation. With a firm grasp of the VA requirements and the ability to apply them creatively, he helped guide them on a path to securing financing for their new home. Once approved for their VA loan, the Fennells closed on the North Carolina house, where four generations of the family moved in under one roof.
The new house, which has the look and feel of a Southern mansion, features a great backyard for recreation and gatherings, and the lower level had easier access for Major Newkirk during his final days. He passed away earlier this year at 93, but his spirit is still felt in the house.
“It was a blessing to live those years with him,” Velma said. “You couldn’t be around him without being changed for the better.”
With their daughter finally in recovery, only one thing remained; the debts incurred for Pamela’s treatment. While the Fennells feel fortunate that they had the ability to cover the costs, it left a significant amount of debt to pay.
“They had great credit capacity to help cover their daughter’s expenses, but that left them pretty much strapped,” Maurer said. “We used Leedell’s VA eligibility and refinanced their house and consolidated all of the cancer treatment debts. We saved them about $700 a month by refinancing and paying off their more urgent debt.”
With their daughter in recovery, and their two grandsons settled into their new neighborhood and schools, the Fennells are fitting nicely within their new small-town surroundings. Velma said she doesn’t miss the Washington D.C.-area traffic, and Leedell said he’s happy they didn’t wind up in a manufactured home, which he said many lenders pointed them toward.
“Dick worked hard to make it happen, and he did it,” Leedell said. “I give him a 10 out of 10.”
“Four generations in one house, one Veteran got to live the end of his life where he wanted and a daughter got the treatment she needed to see her sons grow into the kind of men who came before them,” said Maurer. “All from the service of one Vietnam paratrooper’s VA benefits. Pretty cool!”
As for working with the VA in securing his loan, Leedell said he encourages every service veteran to explore his or her benefits.
“It feels like you’ve hit the lottery just when you need it,” he said. “You earned it. You should use it.”

It couldn’t have been smoother.

Dear Dick,

Just a note let you know how pleased we are with our new house and your part in helping us get here. As you might remember, I spoke to more lenders than I can remember to try to use my VA benefits to get a loan to buy this house. The problem was that we had not even completed our short sale for the house we were in at the time so we didn’t even, technically, have a short sale yet. Every one of the other lenders turned us down and not only said they couldn’t help us but that we would have to wait at least 2 years after we closed our short sale to get a new VA loan.

I found you on the internet and, of course, I was skeptical after all I had been told by everyone else. When we talked, you said that you could begin the process immediately and that there would be no requirement that we wait for any period of time before we could close on our new VA loan. You said we could buy another house to move the family into it right away.

I have to say that I was more than amazed when we got our approval for our new VA loan AND closed the short sale on the other house in the VERY SAME WEEK. You were true to your word, there was NO WAITING PERIOD required. We went directly into the closing process and moved directly from our short sale house into our new home.

We thank you for doing exactly what you said you would do and doing it in the time frame your said you’d do it in. It couldn’t have been smoother.

Greg