Posts

Renting vs. Buying a Home in 2021

Renting vs. Buying a Home in 2021 No matter where you live, this past year brought a lot of uncertainty. Now with 2021 underway the housing market is shifting again. Deciding to rent or buy a new home in 2021 comes with a whole new set of questions this time around. Deciding Whether to Rent […]

Jumbo Mortgage Rates are Rising – Should I Refinance?

Some of my clients are asking, should I refinance my jumbo mortgage now or wait? It might not be the right move for every homeowner but it could be a smart financial decision depending on your financial goals. Yes, mortgage rates are starting to rise. Mortgage interest rates are still low, but as mortgage rates […]

5 Smart Tips for the Best 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 […]

15-Year Mortgage Rates at Record Lows

This past week the average mortgage rate for 15-year fixed-rate mortgages dropped below 2.4 percent, just hovering above it’s all-time record low. If you’ve been thinking about refinancing for a lower mortgage payment, paying off your loan faster or saving thousands in mortgage interest, this quick article could help you decide. How to Know if […]

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 […]

Refinancing Your Mortgage: Reasons You May Not Know About

Refinancing your mortgage is nothing more than replacing an existing home loan with another. Why refinance? Most homeowners refinance their mortgage because rates have fallen below the interest rate on their current mortgage. Lowering Your Mortgage Rate Each week, Freddie Mac comes out with its weekly mortgage rate survey which reports an average rate culled […]

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 […]

What’s the Reason for a Vacancy Factor?

If you’re new to the world of investing in real estate, one term you may run into is the vacancy factor. As part of the approval process to buy a rental property, one of the early qualifying factors will be income. Rental income from the property might be able to be used to qualify for […]

Overlays Explained

What are Overlays? An Overlay is a mortgage industry term. In simple terms, overlays are additional qualifying requirements on top of the guidelines set by Fannie Mae and Freddie Mac, as well as FHA, VA and USDA. These guidelines are set forth for several reasons but one is to provide lenders with mortgage program stability. […]

The Importance of Non-QM Mortgages

Yes, they’re not only important but necessary in the mortgage world. What are non-QM mortgages you ask? Non-QM is short for Non-Qualified Mortgage. To understand what that means and the importance of a non-QM loan, we first need to understand what a Qualified Mortgage (QM) loan is. Qualified Mortgage (QM) Loan Explained The Consumer Financial […]