FHA Reduces Their Mortgage Insurance Premiums Across the Board!
GREAT NEWS! FHA has announced that they are reducing their mortgage insurance premiums across the board by 30 basis points. Mortgage Insurance can often be a dealbreaker in securing an FHA loan, depending on down payment and credit score, but this will help immensely...“Why Do I Get So Many Unwanted Solicitations When I Apply for a Mortgage?”
When you apply for a mortgage, whether to purchase or refinance, the three major credit bureaus have record of the inquiry into your credit and unfortunately will sell that information in the form of a lead to lenders and banks. This has been dubbed a “trigger...30 Year Fixed Rate 2nd Mortgage!
Check out this 30 Year Fixed rate HELOAN (Home Equity Loan)! You can use it for any personal reason; however, the homeowners that have most recently taken advantage of it had accumulated high credit card debt, which the HELOAN paid off in full at a much lower rate...A Home Equity Line of Credit (HELOC) versus a Home Equity Loan (HELOAN)
If you need to tap into your home equity and you have secured an interest rate in the 2% and 3% range of yesteryear, then it would be quite difficult to relinquish that amazing rate by doing a cash-out refinance on your 1st mortgage. Your alternative option to access...What is a Buydown?
There are two definitions in the mortgage industry for a buydown. One is most common and simply means the borrower pays points to buy the rate down for the life of the loan (a one-time upfront cost for a longer-term benefit). You can refer to my blog post here where I...What is an ARM and is it the Right Loan for You?
A Fixed Rate Mortgage is the most common type of loan: The rate and payment is fixed for the life of the loan, depending on the fixed term you choose, with no opportunity for adjustment. An ARM is fixed for a set period of years (typically 5, 7 or 10) and then...My 21st Year in the Business!
Today is my 21st anniversary in the mortgage business! I’ve been through quite the ups and downs, from rates being 8.0% when I started, going through the credit crunch era/housing bubble burst of 2008, the wildly low 2%/3% rates of 2020 and 2021, and now the...New Program Announcement: “Cash Compete” Loan
Have you lost out on a home because the seller chose an all-cash offer over yours? It can be quite frustrating, but one of my lenders is now offering a solution, called the “cash compete” loan. This will allow you to offer all cash on a property you would like to...What Can I Do About Rising Interest Rates?
Well, unfortunately, they are currently a reality. For many people just entering the housing market and considering buying, it’s a little easier since this is where interest rates are now and that expectation has been set. For those that were preapproved a few months...Loan Calculator
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