If you have some credit challenges preventing you from getting mortgage with competitive rates and fees, read on. Here are some tips you can take to the bank… Know this: you need not have perfect credit to buy a home or get a mortgage. Your credit just needs to be sufficient; good, bad, ugly or…
Read More
Lending guidelines were recently loosened on cash out refinance transactions. If you’re looking to refinance and pull out funds for home improvement, or another project, here’s what you should know if your loan size exceeds $417,000. Mortgage loans bigger than $417,000 are going to cost more. Here’s why: when a mortgage loan exceeds $417k the…
Read More
There is no limitation to how frequently you can refinance your home. Do it as often and freely as you like as it financially makes sense to do so. Following are some things to consider when pulling the trigger… Closing Costs Are you throwing good money after bad? If you recently paid fees on your…
Read More
Do you want to combine your first and second mortgage into one? Here’s 4 smart some money savings tips to be aware of when you submit a loan application. When you apply to refinance your home with the intent of financing more money beyond the balance of your first mortgage, your total loan amount could…
Read More
On November 25, 2015, the Federal Housing Finance Agency announced the 2016 new loan limits. Most notably, four counties in California have increased as well as various others throughout the country. Here’s what you need to know regarding the changes… Know Your Loan Category When you apply for a mortgage to buy a home or…
Read More
Most strategies to pay off your home involve making radical principal prepayments or moving to a shorter-term debt structure. Here is a way to refinance your home using your lender’s money. Quick Finance Lesson: Lenders generate more revenue on higher interest rate loans. The catch is, the additional revenue is not kept by the lender,…
Read More
Here is why your interest and fees may be different than you what you saw in the news. How rates and risk based pricing affects your loan…. Mortgage Ads & The Media When you see ultra attractive loan offers or hear the media touting the latest development in interest rates, take it with a grain…
Read More
One of the best way is bar none to eliminate your mortgage debt is moving into a 15 year fixed rate loan. With the average spread a full 1% compared to its 30 year mortgage counterpart, a 15 year mortgage provide can an increased rate of acceleration in paying off the biggest obligation of your…
Read More