Wondering how your new mortgage loan will be handled now that many of us have been officially considered “non-essential?” Well, for one, the mortgage industry is up and running regardless of any status. Yes, there are many who are currently in a work-from-home status and don’t have an official office to go to, at least […]
Are you getting ready to take the leap? Are you wondering if you should go ahead and lock in your rate now? Or maybe wait a bit to see what happens? We get that. But let me take some time here to provide you some suggestions as the best course of action for your situation. […]
Let’s say that around the first of this month you checked mortgage rates to see if a refinance was in your future. Rates have been on a steady decline so far this year so it’s no wonder that you did make a quick check. And rates have fallen to the point in early March that […]
If you’re like most people, you really don’t pay much attention to Wall Street on a daily basis. Sure, you’ll check your 401(k) when you statement comes in and peek at your IRA but in general, Wall Street is left for the so-called “experts” who buy and sell stocks every single day. But as you’re […]
There are several types of closing costs involved when financing or refinancing a home. Some are lender fees while still more are non-lender fees. We’re talking about processing fees, document preparation, title insurance and others. Yet two of these fees alone are expressed as a percentage of the loan amount. Those fees are a 1% […]
You may have heard this before. That when you refinance you get to skip two mortgage payments. In fact, it’s not uncommon to hear a lender actually promote this notion. If so, I think it’s a bit misleading. There’s no such thing as skipping mortgage payments during a refinance, the payments are made just in […]
You’ve finally decided to move forward and refinance your existing mortgage and at the same time pull out some extra cash to make a couple of home improvements and take some time off for a well-deserved vacation. You speak with your loan officer to get an update on rates and monthly payments and to confirm […]
If you’re not familiar with the term “wholesale lending” in the mortgage industry, you’re not alone. If you have heard the term, it’s easy to misinterpret its meaning. “Wholesale” might imply universal or overall but that’s not the definition. Wholesale lending plays a crucial part in the mortgage business and I’ll explain why. What is […]
The Federal Housing Administration’s home loan program is one of the three government-backed loans and is also the most popular. The other two government-backed loans are the VA and USDA programs. The FHA loan is also the favorite for first-time homebuyers. There are several reasons for this popularity but primarily the minimum down payment is […]
Real estate is one of the unique asset classes that appreciates over time while at the same time providing the owner a monthly dividend. Name any other investment that does the same. Active real estate investors seek out rental properties that point to long term appreciation while getting paid each month to own it, to […]
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