How to Cancel PMI and Lower Your Monthly Mortgage Payment

Private mortgage insurance (PMI) is typically required for homeowners who put less than 20% down toward their home loan. In general, private mortgage insurance (PMI) is 0.5 – 1.5% of the total loan amount and is tacked onto the monthly mortgage payment. It can easily add a few hundred dollars to your mortgage payment every […]

How to Finance a Fixer-Upper with an FHA 203(k) Home Loan

Buying a fixer-upper can be a fast way to get into a great home that is selling below market value and build home equity fast.  But buying a home that needs a lot of repairs and remodeling can also be a money pit with whole lot of stress. If you want to dive into a […]

Renting vs. Buying a Home in 2021

Renting vs. Buying a Home in 2021 No matter where you live, this past year brought a lot of uncertainty. Now with 2021 underway the housing market is shifting again. Deciding to rent or buy a new home in 2021 comes with a whole new set of questions this time around. Deciding Whether to Rent […]

Today’s Housing Market: How to Win the Bidding War

  Today’s housing market is changing rapidly and housing inventory is dropping. A lot of homeowners are taking advantage of low interest rates to refinance their mortgage or start renovations. Some homeowners are selling to move to less expensive areas, and they know the housing market is already shifting in their favor. So if you’re […]

How to Get Pre-Approved for Your Home Loan Fast

If you’re thinking about buying your next home then you’ve probably heard about getting pre-qualified or pre-approved for your home loan. Whether this is your first home or you haven’t purchased a new home for a while, the home-buying process can still feel overwhelming. Let’s face it, going to open houses is a lot more […]

5 Simple Homebuyer Tips Before You Make an Offer

Most houses are staged with the homebuyer in mind.  Everything looks beautiful from the walk up to the backroom closets and fresh flowers in the kitchen.  It’s easy to get swept away with a first impression so it’s important to pull back the shades and take a deep look inside and out.  A good home inspection […]

When You Co-Sign on a Mortgage: What to Know

You just did a good thing. You agreed to co-sign on a mortgage. Especially for first time homebuyers, qualifying on their own can sometimes be a challenge, especially for those who are having difficulty qualifying due to debt-to-income ratios, coming up with funds for a down payment, having some credit issues or having their very […]

7 Top Questions Your Loan Officer is Going to Ask

Even if it’s not your very first home purchase, you can to be prepared to provide your loan officer with what is required. Experienced home buyers may like a refresher for all the things provided and questions asked. Here are some questions you can bet your loan officer will be asking before you get too […]

How Lenders Calculate Weekly or Bi-Weekly Income When Qualifying

  There is an ‘Ability to Repay’ or ‘ART’ rule that lenders follow when approving a traditional mortgage. When lenders calculate income, they are required to both determine and document that determination of whether or not someone can safely afford a new home loan. This is a result of the vast mortgage guideline changes implemented […]

Tip Income: How to use it for Qualifying Income

For those in the service industry, getting tips certainly helps the overall pay. Most people who do earn tips work in a restaurant, hotel or similar industries. But can tip income be counted when helping to qualify for a new mortgage? We recently spoke about various types of income but getting tips is a bit […]