Why Getting the Lowest Rate Does Not Always Make the Most Sense
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...Fannie Mae Underwriting Requirements Lighten Up
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...What are the Steps in the Loan Process?
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...Equitylines: Advantages and Disadvantages
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...Jumbo Loan with 10% Down Payment Options
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...To Impound or Not to Impound
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...Follow me on Twitter!
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...To Impound or Not to Impound
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...Expect Delays in Securing a Home Loan come October 3rd
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)...Loan Calculator
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