Posts

5 Smart Tips for a Great HELOC Rate

A Home Equity Line of Credit or HELOC is a great option when you want to borrow money against your home without refinancing. Unlike a home equity loan, a home equity line of credit (HELOC) is an open line of credit that uses your home as collateral.  You draw from the account at your convenience […]

How to Finance Your Next Home Renovation

This past year many homeowners spent a lot more time at home. If you’ve been thinking about remodeling your kitchen, building out a home office, or doing a home renovation to update needed repairs, you’re not alone. The good news is there are great renovation home loan programs that can help you finance your next […]

How to Get Pre-Approved for Your Home Loan Fast

If you’re thinking about buying your next home then you’ve probably heard about getting pre-qualified or pre-approved for your home loan. Whether this is your first home or you haven’t purchased a new home for a while, the home-buying process can still feel overwhelming. Let’s face it, going to open houses is a lot more […]

When You Co-Sign on a Mortgage: What to Know

You just did a good thing. You agreed to co-sign on a mortgage. Especially for first time homebuyers, qualifying on their own can sometimes be a challenge, especially for those who are having difficulty qualifying due to debt-to-income ratios, coming up with funds for a down payment, having some credit issues or having their very […]

7 Top Questions Your Loan Officer is Going to Ask

Even if it’s not your very first home purchase, you can to be prepared to provide your loan officer with what is required. Experienced home buyers may like a refresher for all the things provided and questions asked. Here are some questions you can bet your loan officer will be asking before you get too […]

Paying Off Credit Card Balances vs. Closing the Accounts

With While mortgage lenders review a loan application, affordability is determined. Affordability can sometimes be a moving target as different loan programs may have different acceptable levels of debt. Paying off credit card balances might seem important, but lenders look at things differently. There are two primary types of debt, installment and revolving. Installment debt […]

Answers to the Most Common Lender Questions About Your Application

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 […]

What is an AKA Letter and Why Is It Important?

In the mortgage industry, it’s referred to as an AKA letter, or Also Known As. An AKA letter is one written by the applicant at the direction of the lender. And it can be required for a number of reasons when the name on the loan application doesn’t match exactly the name or names appearing […]

Lender Questions? Keep Calm and Answer On

When consumers first complete and then submit a loan application, the initial thought might be that the work has been done and now we’re just waiting on loan papers.  Further along in the approval process, common lender questions will often come up. The fact however is that loan submission is one of the early steps […]

Is Now the Right Time to Refinance Your First and Second Mortgages?

There are several reasons to consider a refinance, there can be more to it than just lowering the rate on a loan. If you’re looking at your mortgage and thinking of refinancing, let’s talk about your options based upon your personal financial situation and not some “model” based upon when it’s a good time to […]