Statistics show that foreclosures are at the lowest levels since early 2008, the beginning of the housing crisis. This good piece of news may not mean much to you if you are on the brink of losing your home. In as much as foreclosure activity has decreased to the lowest levels in over a decade,… Continue Reading
If you’re buying a house, then like most people, you’ll need to get a mortgage. You talk to a few lenders, get some quotes, pick a lender, and apply for your loan. Your lender then starts the process of getting you approved. They ask you for documents, send out disclosures, and order an appraisal. What… Continue Reading
If you are falling behind in your mortgage payments, you are not alone. A recent report shows that foreclosure activity has increased in the top 10 major Metropolitan Areas. That means more and more homeowners are feeling the pinch of finances. What are the best strategies to follow to keep from losing the family home?… Continue Reading
Let’s say you’re about to buy a house. You’re at a family barbecue on the weekend. The sun is out, the kids are running around, there’s burgers on the grill. Your older brother comes up to you and asks if you found a lender yet. You tell him you got some quotes, and they’re all… Continue Reading
If you’re wondering why mortgages seemingly come in sizes, like tubs of popcorn at a movie theater, you’re not alone. A jumbo mortgage refers to a loan amount that’s higher than the conforming or high-balance loan limit for a particular county. Presently, Fannie Mae and Freddie Mac set the maximum loan amount threshold for the… Continue Reading
What is an Interest-Only Loan? Interest-only mortgage loans have an initial period where the monthly payments consist of just the accrued interest, instead of payments towards your principal balance as well. Once the interest-only period ends, you begin to repay the loan on a regular amortization schedule — meaning that by the end of the… Continue Reading
For most people, undertaking a mortgage refinance isn’t something they look forward to. The prospect of lowering monthly payments and paying less interest over the life of the loan are powerful motivators though, so let’s make sure your next refinance is your best. #1 Start by clearly identifying and defining your goals for refinancing. It’s… Continue Reading
What is a Mortgage Broker Mortgage brokers are licensed mortgage professionals who work independently with multiple wholesale lenders to deliver a wider range of mortgage products directly to you. What Do They Offer Mortgage brokers offer as many loan products as lending partners they have, giving them the ability to do the shopping for their… Continue Reading
Lenders may use the terms pre-qualification and pre-approval interchangeably, but it’s generally understood that there are different levels of evaluation and approval available nowadays. Our goal is to make sure you understand what information your lender will be verifying and what assumptions they’re making when evaluating your financial scenario. What’s the Difference Between a Pre-Qualification… Continue Reading
After all the stress, the fighting, the planning, the paperwork and the screaming at the Universe to please, please, just don’t throw one more roadblock up, you’ve almost made it to closing. It’s time for your final walk-through. It feels a little like the kind of event you should be dressed up for — I… Continue Reading