Canceling Private Mortgage Insurance
If you purchased your home with less than 20% down payment on a Conventional loan, you were required to purchase Private Mortgage Insurance (PMI). PMI is a cost that protects the lender in case you default on your mortgage (stop making payments). Lenders are required...Trended Credit Data: A Big Change to Underwriting and What it Means to You
The biggest change in credit reporting in 25 years is now upon us, and implemented in underwriting engines as of 9/24/16. It’s called “Trended Credit Data”. Trended Credit Data allows lenders to see your payment behavior over the past 24 months, in order to give them...What Affects An Interest Rate Quote
When people ask me what I do and learn that I am a mortgage broker, the usual first and natural question is, “What are interest rates right now?” The answer is always, “It depends.” There are many factors that go into an interest rate, so that’s why it’s important to...Did you Know?
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...Loan Calculator
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