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...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...Loan Calculator
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