Why your mortgage payment keeps changing. Consumers are often given little explanation by their bank on why their payments are due to a different company. When you take out a mortgage here’s what you need to know… The residential mortgage business in America has two sides; loan origination and loan servicing. Banks make many through…
Mortgage loan officers hear daily from consumers they don’t want their credit score pulled because they’re worried about their credit score dropping. Unfortunately, the internet is full of information providing an over abundance of information to consumers yet does a poor job of educating people. Most articles you will see online are nothing more than click bait…
One of the challenges home buyers face when purchasing a house for the first time is of their income should go towards a mortgage payment. This number varies greatly and just because the bank tells you you can take on a certain payment to income ratio that doesn’t necessarily mean that you should. Here is…
Contrary to widespread belief not all mortgage companies work the same. Buying a house is generally thought of as the most important financial transaction of your life and as such should be handled with extreme care and prudence. You want to make sure you pick the right mortgage company and more importantly the right loan…
Getting a mortgage in 2018 there is a bureaucratic and compliant process with a significant amount of paperwork involved. Following is some tips on various loan programs available in the marketplace you may not know… Conventional mortgages they will go up to a debt to income ratio of 50%. Here is the kicker if your…
If you’re purchasing a house whether it’s a primary home move up home or secondary home and the house needs work, don’t shy away from that. Here’s what you might want to think about when buying a house that needs some TLC… How bad really are the repairs? Just because you are pre-approved to purchase…
If you’re purchasing or refinancing a house with less than 20% Equity. You’re going to be subject to having PMI. Here’s what you need to know regarding private mortgage insurance with regards to financing your house… When you have less than 20% equity on your house the mortgage company is going to require you to…
It’s no surprise the housing market has tight inventory and mortgage rates are on the rise. As the overall market continues to contract banks are coming up with innovative ways to elicit business. The following tricks are ethically questionable… The first trick banks use is associated with credit reporting. Mortgage companies must pull a copy…