In the mortgage business, loan officers constantly interact with their clients, especially as it relates to interest rates. The rate on a mortgage loan just may be the single most important aspect of financing real estate. After all, the rate directly affects the monthly payment. When you call to get updated rate information, I can […]
Down Payment Secrets
The down payment to buy a home is typically the biggest obstacle, especially for first time home buyers, when thinking about buying a home. We can talk over the phone about how much you might qualify for and I can quote monthly payments based upon a particular loan amount, but the down payment is the […]
Underwriting Exceptions: What They Are And Why They’re Needed
You’ve heard me talk before about the importance of the secondary market as it relates to the mortgage industry. There is both a primary and a secondary market in real estate finance. The primary market is also referred to as “retail” as it refers to consumers getting a home loan to finance a purchase. The […]
10 Things First Time Buyers Should Be Doing Now
If you or someone you know is about to embark on the first time home buying experience, there are some things you should know and be doing now. Follow these simple tips and your home buying process will be a breeze. Check Your Credit. Check your credit before you get too far into the process. […]
5 Things You Need to Know When Financing a Rental
More and more investors are placing real estate into their portfolios. It’s a special asset class that both appreciates over time and provides the owner a monthly cash flow. Investors also know to leverage their money with today’s low interest rates. It simply follows that the lower the cost of funds the greater the cash […]
Debt Service Coverage Ratio (DSCR) Explained
Real estate investors take time to properly determine whether a particular property is a good investment. There are multiple factors to consider when investing in real estate. After all, real estate isn’t the most liquid of investments. The first thing to consider is of course the price of the property. That’s relatively easy to evaluate […]
How to Finance a Mixed-Use Property- It’s Easier Than You Think
In real estate, a mixed-use property is one that contains both residential as well as commercial space within its interior walls. A commercial property is an income producing property and can be as varied as a gift shop to a doctor’s office. To finance a commercial property, a commercial loan is needed. These loans are […]
Thinking of Buying? Ask Yourself These Three Questions
Let’s face it, there are some very real advantages of renting instead of owning. Most of those advantages are related to a change of scenery. When renting, you have a choice of where you want to live, what you want to pay each month for rent and how long you want your lease for. For […]
5 Questions First Time Buyers Need to Ask
Buying a first home is probably the biggest financial decision someone can make. For those who already own their own homes they can relate. It’s a process that can be explained upfront but until someone goes through it, experience is the ultimate teacher. Finding, buying and financing a home can be a rather drawn out […]
3 Signs You Know It’s Time to Buy
For those who occasionally wonder whether or not it’s time to stop being a renter and start owning, it can be difficult to ultimately lead to the decision to drop the landlord and own a home. There won’t be any midnight revelation that says, “Buy Now” or anything remotely similar. Even if the math works […]
