Posts

How to Cancel PMI and Lower Your Monthly Mortgage Payment

Private mortgage insurance (PMI) is typically required for homeowners who put less than 20% down toward their home loan. In general, private mortgage insurance (PMI) is 0.5 – 1.5% of the total loan amount and is tacked onto the monthly mortgage payment. It can easily add a few hundred dollars to your mortgage payment every […]

How to Finance a Fixer-Upper with an FHA 203(k) Home Loan

Buying a fixer-upper can be a fast way to get into a great home that is selling below market value and build home equity fast.  But buying a home that needs a lot of repairs and remodeling can also be a money pit with whole lot of stress. If you want to dive into a […]

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 […]

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 […]

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 […]

Mortgage Rates Still at Record Lows — Don’t Wait!

It’s certainly easy to get distracted at this time of year. It seems that once we hit Thanksgiving Week, the rest of the year is a blur. Travel, festivities, family get togethers. They are smashed together within a 30 day period. Certainly the main priority is to enjoy the holidays with family and friends along […]

Refinancing? Better to Close Sooner vs. Later

To understand how refinancing works when the loan closes, it’s important to understand how a purchase loan closes first. By comparing the two different processes, Home Purchase: How it Works on Closing Day The final settlement date for a purchase is listed directly on the sales contract. Once the contract is executed by both parties, […]

Refinancing: The Risks of Waiting

If you’ve been thinking of refinancing, the risks of waiting might not be worth it. Lately, it’s a good move to go ahead especially for those who have been on the fence over the past few months. The market has been relatively positive for interest rates as mortgage rates in general have been floating in […]

Marriage, Legal Separation and Your Mortgage

The phrase, “’til death do us part” is one we’ve all heard. Unfortunately, many marriages don’t last that long. When a couple decides to separate, either legally or informally, there are different options to consider. Do they simply need some time apart to figure things out independently? Maybe have a little “breather” in order to […]

Why Rescission Periods (the right to cancel)?

What is a rescission period and why do they exist in the mortgage industry? A rescission period is basically a “cooling off” period in place after homeowners sign loan papers refinancing an existing mortgage. There can be multiple reasons why someone would want to refinance, and most often it’s to get a lower rate. But […]