What is a Mortgage Rate Lock?
At least one time during the home loan process I get asked, what is the mortgage rate lock? A mortgage rate lock is a mortgage lenders commitment to honor an exact interest rate for a specific period of time. This means that once I have promised you a specific...Should I Buy a House or a Condo?
The decision to buy either a house or condominium comes down to personal preference and the type of house you want to maintain. Condos can be easier on the maintenance but higher on the homeowner association dues because of that lack of maintenance. However, both have...Are We at the Top of the Real Estate Market?
I’ve spoken to a few clients these days and a lot of them have asked about the subprime mortgage bust in 2007 and 2008 and a lot are wondering are we at the top of our real estate market now? Are we going to start heading downward and are things looking bleak...How a Bank Statement Mortgage Works
For self-employed individuals, a bank statement home loan may be the best thing since sliced bread. Instead of using W-2’s and tax returns, which most loans rely on, a bank statement loan uses the money you deposit into your bank account each month as proof of...
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Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.