Industry News

May
18
2017
Documents Needed for Mortgage Loan Approval

Underwriters are following more stringent terms than ever, and so lenders will require many documents from you in order to evaluate your mortgage qualification. But lenders also want your business, so while collecting all documents may be tedious, you can help your mortgage company expedite your approval. Use our Application Checklist to speed up the application […]


May
3
2017
Best Times to Buy, Sell and List a Home

If you’re in the home market or are selling your home, you might be interested to know the best times to buy, sell and list a home. These principles are tentative, but generally hold true on a regular year.   The Best Time to Buy: Spring and Fall If you’re looking to buy a house, […]


Apr
24
2017
3 Questions to Ask Your Lender

Every major sales transaction requires a consultation and a home purchase is no exception. Stay in control of your mortgage by asking your lender the following questions: 1. How long will this take? It looks harsh at first glance, doesn’t it? But in reality it’s a question that will give you a reality check. Many […]


Apr
21
2017
Getting rid of Private Mortgage Insurance (PMI)

Private mortgage insurance, or PMI, helps to protect the lender in case you default on your mortgage – and the obligation is on you to pay for that protection. Normally, lenders will require you to purchase private mortgage insurance if you have less than 20% to put down or if you refinance and have less […]


Apr
10
2017
No Doc Mortgages Are Back

Less than a decade ago no doc mortgages were the craze that everyone was jumping on top of. While they proved to be a viable alternative for self-employed borrowers, the default rates on these types of mortgages nearly crashed the entire US real estate market. To recover from the collapse, most lenders have gone from […]


Mar
19
2017
Mortgage rates causes American millennials sharing their home

Mortgage rates has caused 60 percent of American millennials sharing their home: __ Published Date 2/27/2017 Realtor Report The proportion of American millennials sharing their home has hit its highest level in 115 years: A recent study published in a blog by Trulia shows that 60 percent of young Americans live with parents, other relatives, […]


Feb
27
2017
3 Strategies to Beat an “All Cash” Offer

3 Strategies to Beat an “All Cash” Offer As the housing market across the country continues to rebound, many areas have become “seller’s markets” – a market in which there are more buyers than there are homes for sale and where sellers are more likely to have their choice of buyer and to be able […]


Feb
26
2017
What You Need To Know About Escrow

What You Need To Know About Escrow When you purchase or refinance your home, you will receive a GFE (good faith estimate) from your lawyer approximately when you will go into escrow.  This GFE will describe in detail the information for your escrow account; this is commonly referred to as insurance impounds and property tax.  […]


Jan
10
2017
Fixed Rate Mortgage or ARM?

What’s the Best Option: Fixed Rate Mortgage or ARM? If you’ve never shopped for a mortgage before, you might find the information and options overwhelming. You’ve got conventional fixed rate mortgages for various terms, government-backed or guaranteed mortgages like FHA, VA and USDA loans and adjustable-rate mortgages, or ARMs, for various terms and lengths. What’s […]


Dec
20
2016
Key Players in the Mortgage Process

Key Players in the Mortgage Process? When you buy a home there will be a lot of people involved in your transaction. Real estate agents, mortgage lenders/brokers, the federal government, appraisers, insurance companies, title attorney / closing attorney and more. Don’t forget that through the entire process, the most important piece of the puzzle is […]


Nov
30
2016
Obtaining Mortgage After a Bankruptcy

Will I Be Able to Obtain a Mortgage After a Bankruptcy? People file for bankruptcy every day, many for reasons outside of their control such as extended unemployment, divorce or unexpected medical debt. Bankruptcy can be a stressful, demoralizing time, and many people who file for bankruptcy worry that they will be unable to keep […]


Oct
30
2016
Why You Should Get Pre-Approved

Why You Should Get Pre-Approved In the last few years, there has been a shift in the housing market.  You used to be able to look at houses, make an offer, and then head to the bank to obtain a loan.  If you didn’t qualify for that loan, you just simply walked away from the […]


Sep
29
2016
When Should I List my Home for Sale?

When Should I List my Home for Sale? If you are thinking about selling your home this year, you might be wondering whether it makes any difference when you list your home for sale, or you might have assumed that it doesn’t make much difference what time of the year you put your home up […]


Aug
15
2016
What You Need to Know About 5-1 ARMs

What You Need to Know About 5-1 ARMs Adjustable rate mortgages can be risky! But, sometimes choosing an adjustable rate mortgage over a fixed mortgage can prove to be a solid economic choice. Still can’t decide? Here are the pros and cons of adjustable rate mortgages: Pros • Save a lot of money during the […]


Jul
3
2016
When You’re Not Ready for a Mortgage

When You’re Not Ready for a Mortgage You may think you’re ready to get a mortgage – you’ve been reading up on mortgages, saving money, and working on your credit score.  However, due to a series of recent policy changes, the “ideal borrower” profile became seriously specific. Therefore, some of the qualifications to obtain a […]


Jun
25
2016
Why a Home Inspection is so Important

Why a Home Inspection is so Important Buying a home is likely one of the largest, if not the largest, financial purchases you will make in your lifetime. When looking at your budget, the cash you’ll need for a down payment, closing costs, perhaps new furniture and more, you may be tempted to save money […]


May
6
2016
What’s in Store for the Federal Reserve?

What’s in Store for the Federal Reserve? On February 1, Janet L. Yellen took over as the leader of the Fed.  Yellen is the first woman to head up the Fed in its one hundred year history, so this clearly signifies a change in the attitude and goals for the upcoming year.  Yellen’s biggest goal […]