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 loans are 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 […]
There are different ways to get a new mortgage. A bank will offer a mortgage, so too will mortgage bankers. Each has its very own department that decides which loans to offer and what rates and fees to charge. A bank offers various financial services such as checking and savings accounts while a mortgage banker […]
Buying a first home is probably the biggest financial decision someone can make. For those who already own their own homes they can relate. It’s a process that can be explained upfront but until someone goes through it, experience is the ultimate teacher. Finding, buying and financing a home can be a rather drawn out […]
It’s now closer to the time when holidays and days off are further in the rear view mirror and it’s back to the standard routine. Investors are back in the markets packing their portfolios with stocks, mutual funds and bonds and analysts are moving back in the guessing game as to the state of the […]
Have you ever wondered how and why mortgage lenders adjust their mortgage rates their borrowers can choose from each day? One would think it’s a lot of work to make a daily rate change, right? I mean, why doesn’t a lender just post a rate and let it stay that way for a few days? […]
Saving up enough money for a down payment and closing costs is typically the single biggest challenge when buying real estate, especially so for those buying their very first home. There are low down payment programs which can ask for as little as 3.5 percent down, such as the FHA program, as well as zero […]
Couples don’t enter into a marriage expecting it to soon end. Quite the opposite in fact, when they get married they do so “until death do us part” and are so much in love they couldn’t imagine being separated much less getting a divorce. Unfortunately, divorce is a real thing and too often marriages end. […]
Home values across most parts of the country have not only recovered from their lows in the early part of this decade but the continued increase in home prices also adds to homeowner wealth in the form of equity. Increasing equity and low rates typically signal an opportunity to tap into that equity and put […]
Having a responsible credit history is one of the key components we use when reviewing a loan application. Traditional guidelines for VA home loan approvals mean having established a credit history with a minimum of three trade lines appearing on the report. This is a common requirement for most all loan programs including conventional and […]
It’s been said you can find two economists who have totally different views based upon the very same set of data. From the Conference Board to Forbes to Goldman-Sachs just to name a few, but they all view the coming year a little bit differently. How so? Here are three views to cover the economic […]
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