Pros and Cons of an Adjustable Rate Mortgage

by mylenderjackie | Mar 24, 2020 | Loan Programs

An adjustable-rate mortgage, also referred to as an ARM, is a home loan with a fixed rate for the first few years that switches over to an adjustable rate. The beginning fixed-rate period can be anywhere from the first three to ten years of the loan. This differs from...

7 Tips to Help Reduce Closing Costs

by mylenderjackie | Feb 19, 2020 | Loan Programs

7 Tips to Help Reduce Closing Costs – Closing costs are the fees associated with wrapping up and finalizing your mortgage loan. While there is no way to completely avoid paying them, there are some ways that you can pay less closing costs. There are some...

Stated Income Loans are Ideal for Real Estate Investors

by mylenderjackie | Dec 2, 2019 | Loan Programs, Stated Income Loans

Stated income home loans used to be widely available before the recession in 2008. And although we’re not back to the subprime mortgage bust, and hopefully never will be, these loans were extremely valuable and they’re making a huge comeback. In 2010, the...

How Do Down Payment Assistance Programs Work?

by mylenderjackie | Nov 7, 2019 | Loan Programs

Down payment assistance programs were created to make homebuying more affordable but how exactly do they work? Nearly half of Americans say the down payment is the hardest part of buying a home. There are a lot of low down payment options such as VA loans and FHA, but...

Is it Better to Get a 10, 15, 20 or 30-Year Mortgage?

by mylenderjackie | Oct 29, 2019 | Refinance Your Home Loan, Loan Programs

Is it Better to Get a 10, 15, 20 or 30-Year Mortgage? There are so many options out there for homebuyers when it comes to a mortgage. Not only are there different options when it comes to the loan itself such as an FHA, USDA, conventional or VA, but the terms of the...

Is a 20% Down Payment Really the Best?

by mylenderjackie | Oct 14, 2019 | Loan Programs

A common question for home buyers is how much should they put down on a house? But it really depends on the buyer, current financial situations, and credit history. Not every situation works for every mortgage option. If you’re a buyer with a lot of money saved...