Your efforts have finally paid off. You submitted your loan application some time ago and received your preapproval letter. Your credit was reviewed and income and assets verified. Shopping for a home with a preapproval letter in hand gave you the confidence you needed knowing that all you need next is a property address. You […]
Most future borrowers simply want to know what their payment will be. Typically the question comes in the form of “what is your rate today” but ultimately it boils down into how much will go toward the mortgage. Of course the main factor is indeed the interest rate, and loan terms. A person’s gross monthly […]
Buying and financing your first home has a lot of moving parts. There are multiple people involved, some you will talk to and many that you won’t. From an appraisal to a credit report to title insurance and more, your loan officer will make sure all the necessary documentation is included in your loan file. […]
If you’re struggling to pay down debt, you’re not alone. It can start out somewhat unnoticeable. Someone gets a new credit card and is doing well with it, buying something on the card and paying the bill when due. After a time, the credit card company sees the positive payment patterns and raises the credit […]
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 […]
If you or someone you know is a first-time homebuyer ready to embark into homeownership process, there are some things you should know and be doing now. Follow these simple tips and your buying process will be a breeze, even a first-time homebuyer. First-Time Homebuyer Checklist Check Your Credit. Check your credit before you get […]
Loan applications go through several stages before loan documents are actually printed. There’s the initial submission and documentation stage. It’s here where the loan officer reviews the application before submitting the loan through the automated underwriting system, or AUS. The AUS digitizes the application and runs it through an online app where a list of […]
More and more students as well as parents are resorting to loans to pay for college. Public universities have had the ability to set their own tuition rates for years now and for many, attending college means going into debt just for the privilege. And that’s just the tuition, never mind the multitude of fees […]
Have you heard the term “guaranteed loan?” It’s possible, but it’s mortgage industry parlance that describes a specific feature of a mortgage program. There are three such programs and they’re all guaranteed loans to some degree by the government. It’s a government-guaranteed loan and there are three of them. The three are the VA, FHA […]
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 paying rent, you have a choice of where you want to live, how much you want to pay each month for rent and how long you want your lease […]
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