When you and I first speak together, it’s generally a Q&A sort of thing. You have questions, I have answers. The first is probably to check out mortgage rates to make sure we’re competitive and to get a general fix on the mortgage market. The next is to talk about getting prequalified, get a loan […]
Often when a mortgage lender reaches out to an applicant after the loan has been submitted, the applicant’s first response is often, ‘Oh no, what do they need?’ After all, along with the initial application there was an additional amount of documentation the lender needed in order to process the loan. But in most instances […]
Debt ratios are utilized by lenders during the loan approval process. It’s an important piece, just one of several. Other factors such as credit, employment and assets are also pieces of the approval puzzle. Debt ratios on the other hand are the primary tool to determine affordability. Today, most loan programs set the guidelines for […]
Once your loan application is submitted, the application is documented with some personal financial information from you such as paycheck stubs and/or tax returns, bank statements and W2 forms. In addition to your personal information, various third party services are ordered in preparation for submitting the application for an approval. The loan application is reviewed […]
Financing a rental property is much like financing a primary residence or vacation home. The funding sources are pretty much the same and most lenders follow the same general set of guidelines. Most such loan programs are underwritten to standards set by Fannie Mae or Freddie Mac, although there are also other lenders who offer […]
The phrase, “’til death do us part” is one we’ve all heard. Unfortunately, many marriages don’t last that long. When a couple decides to separate, either legally or informally, there are different options to consider. Do they simply need some time apart to figure things out independently? Maybe have a little “breather” in order to […]
Listing your property as For Sale By Owner can sound easier than working with traditional realtors. So can you really save money and stress deciding to list your property as For Sale By Owner? Closing Costs and Fees There are closing costs associated when selling a home. There’s no secret in that. All you have […]
It pretty much happens the same way every week. Data is released to the public as well as various media regarding the direction of residential mortgage rates. Where does this data come from? There are several rate surveys but the one most referred to by far is the one performed by secondary mortgage giant Freddie […]
A mortgage bond is a bond just like any other. There is a fixed rate of return that the investor knows about prior to making a purchase. Compare a bond to an individual stock or mutual fund and you’ll soon discover a wide disparity between yields, or profit. Stocks can provide a greater return on […]
Mortgage rates are still very low and refinancing options are better than ever. For many, the decision whether or not to refinance your mortgage is fairly easy. This is something I can do with you over the phone. Simply compare the difference in monthly payments and divide that into the amount of closing costs needed […]
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