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 […]
Student Loans and Home Loans
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 […]
What Are the Main Differences Between a Conforming and Jumbo Loan?
Okay, the main difference between a conforming and a jumbo loan is simply the loan amount. Conforming loans are labeled conforming because they conform to guidelines set by Fannie Mae or Freddie Mac. For most parts of the country the maximum loan amount to still be considered a conforming loan is $484,350. Anything beyond that […]
Applying for a Private Loan: What Private Lenders Look For
Private loans, sometimes referred to as “hard money” loans, are a critical part of the real estate industry. Without private lenders, many profitable opportunities would fall by the wayside as conventional lenders determine a particular project falls out of their lending guidelines. Private lenders however can review an application that otherwise might be turned down […]
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 […]
Have You Checked Interest Rates Lately?
More than a year ago when rates began to slowly move up after recent Federal Reserve comments indicated we can anticipate three and maybe four rate increases for 2018. That was based upon economic projections that indicated our economy was awakening from its extended slumber as job creation and the unemployment rate showed signs of […]
FHFA, HUD, FNMA, FHA, FHLMC: Who Are These People, Anyway?
FHFA, HUD, FNMA, FHA, FHLMC: Who Are These People? Well, they’re not really people. People certainly work there but in reality, they’re all government agencies that have some major connection with the mortgage industry. Some are relatively new and some not so much. The mortgage industry has so many acronyms it can get really confusing […]
Conventional Basic Approval Guidelines
Conventional loans are by far the most popular choice among home buyers. Conventional loans are those underwritten to standards set forth by Fannie Mae and Freddie Mac. When a loan is approved using these guidelines it is then eligible for sale in the secondary markets. Selling a loan allows the lender to continue making mortgages. […]
Do You Really Skip a Payment When Refinancing?
This is an all too common phrase some lenders throw out when marketing their refinance programs or when speaking with a loan officer on the phone. A refinance replaces one loan with another and there are multiple reasons to refinance other than lowering an interest rate but skipping a payment isn’t one of them. A […]
Why Portfolio Lending is So Important
There is a term in the mortgage industry called “portfolio lending” and it’s a specific type of home loan program that caters to a particular situation. Portfolio lending is so important that without it the real estate industry would suffer. What is a portfolio loan? It’s a loan that does not fit into any secondary […]
