Why you should be unapologetic when buying or refinancing a home “Sorry about all the questions!” texted back my new client. I smiled and assured him it was fine. Not only were his questions reasonable, but they allowed me to prevent issues with his mortgage application. I did feel a tinge of annoyance, but it wasn’t directed at him. It’s this…
I will never work for a big retail name. You’ll never find me taking mortgage loan applications behind the desk of a bank. Most of all, I will never use my client’s trust to push some corporation’s agenda. You may look at me and judge me to be young, or insufficiently experienced. You may think mortgage brokers don’t have access to…
“They can pay off credit cards, remodel a kitchen, install a swimming pool, or travel to Las Vegas. “Do whatever you want,” he tells them. “Imagine your home is like an ATM.” Source: Bloomberg article on a local Utah mortgage business. What do ATM’s and this mortgage company have in common? They charge per transaction. And the goal is to…
The great news is that it’s not by padding your closing costs. All of the fees that you see on your Loan Estimate are highly regulated and will be justified by actual invoices at closing. Fees collected on behalf of third parties, such as a homeowner’s insurance company, appraiser, HOA etc – must be remitted to that third party. Escrow…
People don’t just set out to apply for a mortgage loan with the intention of getting denied. Yet it happens. While there are some loan officers that will give out Pre-Qualification letters without properly verifying information, some problems can simply take a while to uncover. The best way to avoid surprises is to go through a full lender underwrite, and obtain…
Forget about what you heard. Ignore most of what other big websites tell you – their end goal is not to inform you, but to capture and sell your personal information. Yes, mortgage loans have closing costs. No, you don’t have to pay them out of pocket. In fact, most borrowers don’t bring anything to the closing table except…
I came upon this internet “gem” today, written by someone working for a title company. She commented this on a Facebook post pointing out how high mortgage interest rates were in 1985 (as high as 12% or even a bit over). It may seem funny at a first glance, but here’s what’s wrong with this picture. Adjustments to mortgage interest…
I got a call a few days ago from a classmate of mine from college. He’s all the way in South Carolina, and he wanted some pointers on how to shop for a mortgage loan. He explained that he was building his home, and that it was close to completion. Securing permanent financing was the next step. Interest rates were…
As the Christmas Holidays get closer and closer, I get to feel a little bit like Santa too… No, I’m not growing a beard, and there is no new trendy workout involving climbing up and down chimneys (I know it’s coming though!). I’m talking about a rate and term home loan refinance I’m about to close on for a very…
Wish you could buy a home, but not sure how to make it happen? Maybe your credit is not that great. Maybe you have a hard time saving money for a full down payment. Whatever the excuse, let me ask 3 you important questions: Have you been paying your rent on time? There is nothing wrong with renting, especially if…
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