Is a Bridge Loan a Good Idea?
A bridge loan is a loan between two transactions, typically the buying of one house and the selling of another. A bridge loan is ideal when a homeowner cannot afford to mortgage payments at the same time. This works when you are buying one home when your previous home...Buying Down Your Interest Rate
Have you heard the term “buying down an interest rate”? This is a common phrase in home loan applications, especially when working with a bank or mortgage broker. You can buy down your interest rate by asking for a series of different rates and associated...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...Secrets to a Real Estate Appraisal
Too many buyers, sellers, and even agents out there assume too many things about the real estate appraisal. They assume it’s an “average” price, or maybe they can look up comparables and a “price per square foot”… but that’s...sms test
[forminator_form id=”30371″]Mortgage for Self-Employed Borrowers
Introducing the 24 Month Bank Statement Loans For Self Employed Borrowers Self-employed borrowers rejoice! There are now bank statement loans for self-employed borrowers with no lender overlays on government and conventional loans. So what does this mean for...
Welcome to my Blog!
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.