Rough estimates: How to quickly know how much house you can afford

April 25, 2018 in About Mortgages Buying a home

Rules of thumb for home affordability There are several easy rough estimates for how much you can spend on a home. Choose a total payment that is close to what you spend now for rent Select your maximum home price at three times your annual income Choose a total housing payment that does not exceed […]

My mortgage is in “processing.” What does a mortgage loan processor do?

April 20, 2018 in About Mortgages

Mortgage loan processor: definition The mortgage loan processor is the link between you, your loan officer and your underwriter. And he or she is arguably the most important member of the team. Many processors take your application so you don't have to fill out forms Processors pull all the pieces together - they may order […]

How to find real profits in the Consumer Price Index definition (CPI)

April 12, 2018 in About Mortgages

Consumer Price Index definition The consumer price index definition may sound like one of those useless and wobbly bits of information that we can all safely ignore, but the real story is different. It turns out that the consumer price index – the CPI – is very important for your bottom line. The CPI shows […]

conforming, conventional, government, qm, non-qm mortgage

Important mortgage terms: conventional, non-conforming and conforming loans

March 18, 2018 in About Mortgages

Your choice in mortgage financing: conforming loans, non-conforming loans, or government loans, makes a difference in what you pay. Here's what you need to know when shopping for a home loan.

What is mortgage insurance?

March 14, 2018 in About Mortgages

Mortgage insurance may be a necessary evil, but it has more benefits than you know. Here's how to use mortgage insurance, and how to get rid of it.

Moved back home? Here’s how to make it work

March 9, 2018 in About Mortgages Buying a home Essential Mortgage Miscellany First-Time Home Buyers Homeownership Topics Real Estate Renters Uncategorized

If you've moved back home to save money, here's how to get back on your own fast.

Can you pay your mortgage with a credit card?

March 5, 2018 in About Mortgages Essential Mortgage Miscellany Uncategorized

Will your mortgage servicer allow you to pay your mortgage with a credit card? Probably not, but there are ways around this.

Fannie Mae renovates its HomeStyle® mortgages

March 3, 2018 in About Mortgages Conforming Mortgages

Fannie Mae Homestyle® mortgages are now better than ever, thanks to higher loan-to-values, increased remodeling budgets and expanded property guidelines.

Guide to mortgage closing costs: What average mortgage costs are, and how to keep yours low

February 27, 2018 in About Mortgages Buying a home Mortgage Rates Refinance

Mortgage closing costs are a big part of buying or refinancing a home. Here are the average closing costs for each type, and what you can do to pay as little as possible.

Rising real estate values power new interest in jumbo loans

February 26, 2018 in About Mortgages Mortgage Products

More expensive homes, bigger mortgages Property values are rising in most markets, and that means jumbo loans have become more important. As of December, home prices nationwide had increased for 70 straight months, according to the National Association of Realtors (NAR). Home prices are at new highs in nearly two-thirds of our major metro areas. […]

Should you pay points to get a lower mortgage rate?

February 25, 2018 in About Mortgages Mortgage Rates

Is it worth it to pay points? Whenever mortgage rates go up, borrowers always wonder if it makes sense pay points and thus reduces the rate. The answer is sometimes yes, sometimes no. Here’s how to tell the difference. What is a point? A “point” or “loan discount fee” is equal to 1 percent of […]

Best mortgages for multi-generational families

February 24, 2018 in About Mortgages Buying a home Mortgage Strategy

Buying a home with family members can be a challenge. But mortgages for multi-generational families can make it easier.

How much do you need to know about mortgages to get one?

February 20, 2018 in About Mortgages Buying a home Homeownership Topics Mortgage Products Mortgage Rates Mortgage Strategy Uncategorized

You don't need to be an expert to negotiate a great mortgage. It only takes a few minutes if you follow these simple tips.

Don’t be a victim of mortgage fraud

February 18, 2018 in About Mortgages Buying a home First-Time Home Buyers Homeownership Topics Real Estate Refinance

Mortgage fraud: unlikely, but possible According to the FBI, you are not the most likely victim of mortgage fraud -- most cases are perpetrated by borrowers against mortgage lenders. Often those involve exaggerations, white lies or outright falsehoods on loan applications. Should you lie on your mortgage application? However, mortgage industry professionals who abuse their […]

What mortgage rate history can tell us about the future

February 15, 2018 in About Mortgages Economic News Essential Mortgage Miscellany Federal Reserve First-Time Home Buyers Forecasts Homeownership Topics Mortgage Rates Mortgage Strategy Real Estate Refinance Uncategorized

How useful is mortgage rate history? Mortgage rate history may sound a pretty boring topic. Indeed, you may subscribe to the Henry Ford school, which believes that all history is bunk. However, knowing how mortgage rates behaved in the past can help you understand what might happen to them in the future. That knowledge could […]

Blockchain mortgage: the future of home loans

February 13, 2018 in About Mortgages

Blockchain mortgage is a mystery to most of us, but it could make buying and financing a home fast, easy and less-expensive in the future.

Tips for landlords: why landlords should consider a blanket mortgage

February 12, 2018 in About Mortgages Essential Mortgage Miscellany Mortgage Products Mortgage Strategy Real Estate Uncategorized

A mortgage for residential landlords Are you unfamiliar with the term "blanket mortgage?" Don't worry. Plenty of professionals in the financial sector have never been near one. And they know little more about them than you do. But if you invest in real estate — perhaps as a residential landlord — you may find a blanket mortgage […]

One more reason to buy rental property: tax cuts for landlords

February 8, 2018 in About Mortgages Real Estate Real Estate News Tax Law For Mortgages

New tax cuts for landlords mean that if you don't actively manage rentals yourself, the government has a present for you in the form of a 20 percent deduction.

Tiny houses begin to take off with new mortgage options

February 7, 2018 in About Mortgages Buying a home

Tiny houses used to be considered odd, but today, they are starring in television shows and people are buying them. But where do you find a tiny house mortgage?

Flamethrowers and high-risk loans: Just because you can, doesn’t mean you should

February 2, 2018 in About Mortgages

Flamethrowers and certain mortgages: handle with care! Elon Musk's new flamethrowers, created and sold by his Boring Company, have blown up. For now, that's just figuratively, but that could also be literally if (when) someone does something stupid and torches their house. In the right hands, a flamethrower is probably fun, even perhaps useful. But […]

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