Loan Options for Self-Employed Individuals
It can be quite frustrating if you do not qualify for a traditional loan due to how you file your tax returns. If you are a salaried employee, your income is calculated based on your gross, but when you are self-employed, your income is calculated based on your net....Why a 2nd Mortgage Makes Sense to Consolidate Debt
This is a scenario I recently reviewed with one of my existing clients – he has accumulated a lot of credit card debt and feels overwhelmed by its significance. He owes $1.2MM on his mortgage at a 30 year fixed rate of 4.925% and the value of his home is $1.85MM. He...In the News: Student Loan Payments Are Back
Well, the 3+ year break in student loan payments is coming to an end and as of 9/1/23, interest on federal student loans has resumed. What you need to know when it comes to securing a mortgage: When there is no student loan payment reported on your credit report, the...Changes to Lending on Condos
Do you remember the condo building in Miami that collapsed in 2021 due to its structural deterioration and spalling? It was devastating, and many people died. But it also brought attention to how frequently (or infrequently) condominium projects are inspected and...“I’m Paying Mortgage Insurance – When Can I Cancel It?”
If you purchased or refinanced your home and put down less than 20% (or had less than 20% equity), then you are most likely paying Private Mortgage Insurance (PMI). PMI is charged as an insurance policy for the lender against you defaulting on your mortgage, since you...Financing Options for Buying a New Home Prior to Selling Your Current
Originally published March 20, 2023 – Updated January 2026. Market conditions and lending programs change frequently – this article reflects current strategies. Buying a new home before selling your current one is a very common goal. The primary motivation is...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...Loan Calculator
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