Buying a home is a balancing act between a mortgage payment in relation to present and future expenses. One of the biggest challenges people have when buying a house is being able to plan a family budget around a mortgage payment. Real estate is not black and white, it is not linear sometimes it’s a…
With interest rates at historical lows, many families across the country would stand to benefit from turning in their high-cost mortgage in exchange for getting something far more affordable with today’s rates. There’s a lot that goes into the mix, including cost-benefit, what the real cost of funds is and many other factors to weigh…
One of the challenges of getting mortgage loan financing these days is showing total and complete monthly income. Contrary to popular belief you must be able to support ability-to-repay (ATR) as a Consumer Financial Protection Bureau has laws in place to make sure abusive lending practices from days past don’t repeat themselves. One of the…
A homeowners association payment can change your borrowing power. Here’s what you might want to think about when deciding to buy a home with a home owner’s association… A homeowners association payment can make or break your ability and or your desire to purchase a home. One of the things about homeowners association payments that…
If you’re getting a mortgage or thinking about getting any type of mortgage loan financing and you’re looking at interest rates for 30-year mortgages in the mid to s for example here’s what you need to know… Most mortgage offerings in the marketplace today at or sub 3% come with varying rates fees and in…
One of the challenges of securing mortgage financing during this COVID-19 environment is forbearance. The pandemic has created some rather unprecedented and unique situations for people desiring to borrow money. If your mortgage loan is in forbearance and you’re trying to get a mortgage here’s what you need to know… First things first it doesn’t…
It’s no surprise 30-year mortgage rates today are under 3% with good credit, good equity, and good income. What you might not know is that not all loan situations are considered equal. Here are the several types of financing situations that might end up costing you more money… Please know your neighbor down the street…
Should you refinance your house with the random mortgage company offering you what appears to be too good to be true? Maybe…read on. One of the things which play in the mortgage industry is lenders popping up at of nowhere when interest rates drop. Quick buck companies that solely rely on refinance activity arrive out…