What to Expect With Your Home Appraisal

Because it determines what the house is worth and if you can proceed with the home loan, it tends to cause a significant amount of worry to my clients.  Regardless there always questions associated with your appraisal and please read on in an effort to clarify some of them:   What Is a Home Appraisal?… [Read More]

How Many Years Do You Want Your Mortgage To Be?

Did you know mortgages do not necessarily come in the standard 10, 15, 20 and 30 year terms anymore?  As business evolves so don’t the products and the way they’re structured.   It used to be you could apply for a 20 year mortgage if you didn’t want the higher payment of a 15 year,… [Read More]

How Your Mortgage Rate Is Decided

Every day mortgage rates change, sometimes by a little, sometimes by a lot, they are determined by a government agency known as the federal reserve, they meet several times a year and you can view their schedule here.   This is the entity that gauges how much money will cost to the larger banks and… [Read More]

Your Second Chance For a Mortgage After a Foreclosure

Foreclosure can be one of the most traumatic experiences of someone’s life, regardless of the reason it has a serious consequence on your credit.  Most people think that their life as a homeowner is over at this point, but the truth is quite the opposite.  They’re actually reducing the time it takes to get into… [Read More]

Life After Bankruptcy

THERE IS LIFE AFTER BANKRUPTCY Part of the anxiety for anyone filing bankruptcy is the concern about his or her financial future post-bankruptcy. However, by taking proper and pro-active steps you can put yourself on the road to financial recovery and an ever-improving credit score. A Chapter 7 or Chapter 13 bankruptcy filing is not… [Read More]

What Is a True Mortgage Broker?

Unless you live under a rock (like I do), you’ve probably heard the term “Mortgage Broker” get thrown around on more than one occasion. You may have heard good things, and you may have heard bad things… Opinions aside, a mortgage broker is essentially a middleman between the borrower/homeowner and the bank or mortgage lender…. [Read More]

What To Expect In Underwriting

So now you’ve found a home, the search is over.  The anxiety, fear, anticipation and frustration have all come to an end.  Right?  Actually it’s just beginning.  There are a world of new feelings associated with buying a house and I want you to know that’s completely normal.   I’ve included this brief video for… [Read More]

Here Are The Documents You Need For A Mortgage Pre-Approval

When qualifying for a mortgage it is expected that certain documentation representing your financial life will be expected.  So here is a list of some ordinary (and not so ordinary) things you may be required to provide (any why)   Standard Mortgage Documentation: 1. Tax returns (most recent 2 years, all pages) Mortgage lenders want… [Read More]

Qualifying For An Investment Purchase Using Rental Income

Here are some general lending rules for rental properties. Projected rents may be used by most lenders to offset against the mortgage payment at up to 75% of projected fair market rents determined with an appraisal when buying a property. If you owned a rental property for the last 12 months, the lender will average… [Read More]