KMG Blog

Fork-in-Cork Award-Winners: North Idaho

Idaho Cuisine magazine has recently published their "Fork-in-Cork Award-Winners" for the North Idaho Edition.  This coveted award is given to area restaurants, bistros, coffee houses and wine bars that stand out with great service, great food and great atmosphere.

And, because Kevin and I have dinned in some of the best restaurants in the country and entertain clients about 2-3 times a week at local area restaurants, bistros, coffee houses and wine bars, I feel I am qualified to render my opinion on the local offerings. 

My fav from the list (excuse the quality of the photo, I only had my cell phone):

Syringa Japanese Cafe & Sushi
Ask for Katsuo (pronounced: Cat-so) and Madai (pronounced: Mud-eye, roll the "d")

 Ok, here we go...

Award Restaurant, Location	My Thoughts
Cozy Romantic Dinner for Two Wine Cellar, Downtown CdA	Good food and wine list.  Good music and ambiance.  Menu never changes.
Pulling-out-the-Unlimited-Bank-Card Special Occasion Beverly's, Downtown CdA	Where my husband proposed 15 years ago.  Need I say more?
Enjoyable for the Entire Family Michael D's Eatery, East CdA	Eat there 1-2 times per week.  Family style diner.  Love it!
Favorite Newcomer this Past Year Ciao Mambo, Hayden	Good pizza.  Menu is a la carte, can add up.
A Coffee Shop that Soothes the Jitters Calypsos Coffee Company, Downtown CdA	Kevin's business group meets there every Wednesday morning.  I take Gabby 1-2 times per week.  They have a great section with toys for the kids and another for parents to enjoy live music.  Great location.  Great Mexican Mocha!
Party Place Food or Not Iron Horse, Downtown CdA	AKA: "Iron Lung" - need I say more?
When Nothing but a Place with a View Will Do Tony's on the Lake, Lake CdA	AMAZING!!!
Meet-a-Friend-for-Lunch Place Café Carambola, Downtown CdA	Used to have office next door.  GREAT food!  GREAT people!  A must for local Latin dinning!  Don't think Mexican - think Latin!
For the Best Sandwich Anywhere Daanen's Delicatessen, Hayden	Best bread in town!  Makes a good sandwich.  Egg salad is my favorite, but order ½ sandy, whole is too big.
Power Lunch for Making Deals Bonsai Bistro & Sushi Bar, Downtown CdA	Think P.F. Chang's on smaller scale.  Great Mojito!  Orange Peel Chicken is my favorite.
Alive at 5! Fun Happy Hour Moose Market Lounge, Downtown CdA	Just introduced the other night.  Good music, but too loud.  Good service.  Good beer.
Finest Pub Food and a Brew Moon Time, East CdA	One of my favorites, even though I prefer their sister restaurant ("The Porch" in Hayden Lake) casual enough to take kids.  Corn-pasta salad is AWESOME!!!
For a Cocktail and a Bite to Eat 315 Martinis & Tapas at the Greenbriar Inn, CdA	Sadly, never been.  Kevin's business group used to meet there, but moved to new location before she opened the restaurant.
Favorite Wine List Beverly's, Downtown CdA	Meet there once a month with the girls for wine.  Can't beat their domestic selection - except at the French Laundry in Napa Valley.
For the Love of Food ... A Chef with Style! Vijo Basso, Syringa Japanese Café & Sushi, CdA	Mind-blowing!!!  Great food.  Great conversation.  Great service.  Great everything!!!  SEE PHOTOS ABOVE!
Virtual Pizza Cook-off Winner Capone's Pub & Grill, Midtown CdA	Best pizza in town, hands down.  My favorite?  Roasted Garlic Chicken.
Martini Bar that Shakes it Up! Oval Office, Post Falls	Ok.  But, Brix Downtown CdA makes a better Lemon Drop.
The Must-Try New Place on the Block Le Piastre, Downtown CdA	Fresh, local ingredients.  Small servings.
Wine Bar with Pizzazz! Coeur d'Alene Cellars Barrel Room No. 6, Downtown CdA	Popular and trendy.  Good wine.

Looking back at this I am just awe-struck!  First, I eat out A LOT (maybe I should consider a career as a food critic)!!!  Second, Coeur d'Alene is blessed to not only be a beautiful place to live, but we are blessed with great local restaurants to fill the tummy and the senses!

Want to buy a house, but have less-than-perfect credit?

So, you have a few blemishes on your credit and you wonder if home ownership has eluded you?

Think again!

KMG Mortgage Group is a qualified "Non-supervised Loan Correspondent" lender for FHA loans.

What's the big deal with FHA loans?

Everything!

Unlike conventional loan underwriting, the central basis of an FHA loan is "common sense" underwriting.  While conventional loans rely almost exclusively on historical statistics to project whether or not a borrower is a high risk, FHA recognizes that each borrower is an individual with unique situations and circumstances.

And, if we can't get you approved for an FHA loan, we can put you on the path to owning your own home.

Our credit agency will provide insights into what you can do to improve your credit score. Often times it will include paying down a credit card or using an old credit card with an established history.

Best of all?  We guarantee the result!

If our credit agency outlines a plan, and you follow it, and your credit score does not improve as much as they said it would - YOU DON'T PAY FOR THE SERVICE!  Other mortgage professionals can offer this service, but cannot (or will not) guarantee the result.

KMG Mortgage Group is not a licensed credit counselor.  Therefore, we don't get paid for this service.  We are doing it as a service to you: to get you the best interest rate possible!

Want to buy a house, but not sure if you qualify?

Take the guessing out of buying a home and let KMG Mortgage Group help you.

We have over 40 lenders to choose from and can get you into the right loan.

Whether you are in need of CONVENTIONAL financing or GOVERNMENT financing...

FHA
VA
USDA

We can help!  Call us today!

Government Loans v. Conventional Loans
Which is best for you?

My Community Mortgage and Flex 97/100 are conventional loan alternatives (offered via Fannie Mae and Freddie Mac) to government loan programs such as VA, USDA and FHA.

Generally speaking, KMG Mortgage Group prefers to put borrowers into the corresponding government loan program, if the borrower and property qualify for them.

Why?  There are several reasons, but here are just a few:

1) Underwriting guidelines:

Government loan programs are more flexible in terms of underwriting guidelines than conventional loans.  While conventional loans rely almost exclusively on historical statistics to project whether or not a borrower is a high risk, government loans recognize that each borrower is an individual with unique situations and circumstances.  In the industry it is often referred to as "common sense" underwriting.

2) Private Mortgage Insurance:

Government loans do not require Private Mortgage Insurance (PMI).  While VA and USDA loans do require a "Funding Fee" and FHA requires "Up Front Mortgage Insurance", these are typically VASTLY more affordable than Private Mortgage Insurance (PMI) -- which is offered by insurance companies looking to turn a profit and are accountable to their shareholders.

3) Interest Rates:

Interest rates on government loans are often more competitive than those of conventional loans.  Conventional loans tier interest rates and swing widely on a number of factors such as loan-to-value and credit score.

Loan to Value	Conventional Loan Program	Government Loan Alternative	Why one versus the other?
100%	My Community Mortgage 100 Flex 100	VA or USDA	If borrower is neither a Veteran (VA) nor live in a rural qualifying area (USDA) and requires 100% financing, MCM and Flex 100 is an option. However, please read note about FHA below...
97%	My Community Mortgage 97 Flex 97	FHA	Generally, FHA loans require 3% contribution of the borrower's own funds.  HOWEVER!  Per FHA guidelines, the 3% can be gifted and the seller can contribute up to 6% of the sales price toward closing costs. In other words, it is possible to get into a house using FHA financing with $0 out of pocket. And, unlike USDA loans (which are limited in their geographic scope) and VA loans (which are limited to current or past military personnel), FHA loans are accepted everywhere!

The Road to Home Ownership in North Idaho and Eastern Washington

(*Note: all links open new windows)

The road to home ownership in North Idaho and Eastern Washington may not be as difficult as you think.  Sure, the media has us all running scared out of fear that the sky is falling.  But it's FAR from the truth.  There are GREAT deals out there to be found!  And, there is still money to be lent.

The first thing you need to do is make a plan.  Kevin and I are BIG on planning.  Our experiences prove that plans must be flexible and adjust with your circumstances, but it's a great place to start.  If I were searching for a house right now, my plan would look a little like this:

1. Get pre-approved for a loan

There is nothing more essential in today's economic climate than getting PRE-APPROVED for your loan BEFORE you look at houses.  You should avoid looking at houses until you are pre-approved because you don't want to set your heart on a particular house, only to find out that you don't qualify.

A qualified mortgage professional will sit down with you, gather your financial information, and counsel you on a number of things.  Among them are: 

• how much you can afford
• should you buydown your loan
• buyer don'ts
• your debt-to-income and how it relates to your overall budget for housing (not forgetting savings for home repairs, rainy day situations, etc.)
• explain interest rates (fixed vs. adjustable) and which one is best for you based on your goals of home ownership
• etc.

A qualified mortgage professional will determine what kind of loan would be best for you - not the best loan for anyone else.  Do you require 100% financing?  Do you have some money down, but still need near 100% financing.  Are you qualified for government loans, including USDA, VA, FHA.

2. Find a Realtor

ActiveRain is a great resource to use when looking for qualified agents who know your area well.  My suggestion?  Read their BLOG!

Their blog will tell you a wealth of information.  Are they familiar with the area you are looking to purchase in?  Do they have a professional attitude?  Do they know what they are doing?  Are they connected enough to represent you and get you the best information?  Do they reflect your same personality or the personality you expect from an agent?

Certainly, Kevin and I can refer you to an agent if you have difficulty choosing one yourself.  There are certainly a number of good Realtors out there and we'd be happy to refer you to our network of Realtors.

3. Find a Home

Once you choose an agent, you need to find a home.  North Idaho and Eastern Washington are GREAT places to live - I should know, we live here, too.  Maybe I'm prejudiced (of course I am), but there is no other place I'd rather be.  I have done some extensive traveling, but my heart always calls me back home.

If you are like a lot of home buyers, you like to do some research on your own: filter out some houses and ask your agent to show you only those you are interested in.  If that's the case, visit the Coeur d'Alene Association of Realtors website.

In short, I hope you have found the information here to be helpful.  I have added several links to our website that may be useful to you as you get on that road to home ownership.  And, if you already own a home, that you would trust us with your refinance or purchasing of a second home or rental property.

Thanks for your time and consideration.  Best regards to you and your family.