by Irene Moustakas | Apr 25, 2016 | Industry News, Loan Programs and Products
Did you know that if you don’t have a steady verifiable income, but have a significant amount in assets, there are some lenders that will use that assets to determine your qualifying ratio and may lend to you according to it? It’s called the “Asset Utilization...
by Irene Moustakas | Apr 20, 2016 | Featured, Tips
It’s easy to get caught up in the desire to get the lowest available interest rate out there, but you must always ask, “At what cost”? Each day, you have multiple interest rate options, and each interest rate comes either at a cost or a credit. The lower the rate, the...
by Irene Moustakas | Mar 30, 2016 | Featured, Industry News
Fannie Mae recently released a new version of their underwriting engine, and it’s a lot more relaxed in some of its underwriting and documentation requirements. Some enhancements: May allow 1-year tax returns for self-employed individuals Non-Occupant Co-Borrowers...
by Irene Moustakas | Nov 19, 2015 | Featured, Tips
To follow is a general expectation for the loan process, from the time of requesting the loan (or locking in on a rate) through closing. When you first start out, it can seem like a daunting experience as you gather all the documentation and paperwork, but if your...
by Irene Moustakas | Nov 9, 2015 | Featured, Loan Programs and Products
A Home Equity Line of Credit (also known as a “HELOC” or “equityline”) can be an excellent financial tool for the right person, and a very imprudent one for the wrong person. As with everything, there are advantages and disadvantages to consider, which I will briefly...
by Irene Moustakas | Nov 4, 2015 | Featured, Loan Programs and Products
More Jumbo loan options with less than 20% down payment are becoming available. When our housing bubble burst and we got hit with the credit crunch in 2008, it was hard to find a competitive Jumbo loan, and nearly impossible to find one with less than 20% down. This...
by Irene Moustakas | Oct 7, 2015 | Featured
Most of my clients choose not to have an impound account for a number of reasons. See my blog post about the advantages and disadvantages of an impound account here. The #1 reason is usually because they like to have control in making their own payments, but...
by Irene Moustakas | Oct 5, 2015 | Featured, Miscellaneous
I have joined the masses (many years later than most) and am now on Twitter! Follow me there for tips, updates and commentary. And remember, you can also: Connect with me on LinkedIn Join me on Facebook Find me on Google+ Check out my reviews on Yelp I look forward to...
by Irene Moustakas | Oct 1, 2015 | Uncategorized
Most of my clients choose not to have an impound account for a number of reasons. See my blog post about the advantages and disadvantages of an impound account here. The #1 reason is usually because they like to have control in making their own payments, but...
by Irene Moustakas | Sep 17, 2015 | Industry News
The Consumer Financial Protection Bureau (CFPB) has mandated a change to closing cost disclosures in the mortgage industry, effective October 3, 2015. This change will affect closing periods on both purchases and refinances. The TILA-RESPA Integrated Disclosure (TRID)...
