What is “mattress money?” It’s a funny term but it means funds that someone owns but does not have a paper trail. Let’s look at how mattress money can be viewed by a lender and how to document these funds. It’s a good thing to come across some extra cash. Maybe the sale of a […]
If you’re one of the fortunate who has access to the VA home loan program, first, thank you for your service. Second, the VA loan program is without a doubt the most competitive home financing option in today’s marketplace for those seeking to purchase a home with as little cash to close as possible. When […]
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 […]
Surely the ideal loan program for those looking to come to their closing with as little cash as possible is the VA loan. There are only a couple of government-backed mortgages that do not require a down payment and the VA program is one of them. The other is the USDA mortgage but that is […]
Borrowers don’t really get the opportunity to pull back the curtains and speak directly with various departments and individuals within a mortgage operation. Certainly a borrower will speak with the loan officer and the loan processor but beyond that, most others are off-limits. Everyone within a mortgage company plays an important and needed role. Some […]
Today, the FOMC decided to cut rates by 0.25 percent, as many investors had expected. The next scheduled meetings are October 29-30 and December 10-11. What is the forecast? That’s really too far out to tell but the Fed’s patience with rates over the past few years has been showing. Another move to lower rates […]
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. […]
When mortgage rates are at or near historic lows, like they are now, it’s a perfect time to take advantage of these low rates, consider a debt consolidation loan, and increase your buying power. At the same time, if you already have a mortgage and haven’t taken a look at refinancing lately, you might want […]
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 […]
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 mortgage payment isn’t one of them. […]
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