Mortgage Matters

Trended Credit Data

There’s a huge development in the mortgage industry which is scheduled to roll out in June 2016. Trended credit data is a new way of evaluating consumer credit habits. It includes the historical payment amount for each month going back.. Read More

Are New Regs Helping?

Last fall we saw the implementation of new mortgage disclosures, commonly referred to as “TRID”. The Truth-In-Lending and Real Estate Settlement Procedures Integration Disclosure now requires consumers to see the final terms of their.. Read More

It’s Not Always About Rates

One of my clients phoned last week to say she is being bombarded by mail offers to refinance her FHA loan. We spent a few minutes to run scenarios about refinancing to see if we should start her loan application locally. She bought her home .. Read More

Exceeding Your Budget

There’s a popular television show depicting the home buying process, where we get to watch home buyers look at different properties with their Realtor. There’s plenty of conversation about “fixer uppers” and “turn k.. Read More

Reverse Strategies

One of the ways a senior homeowner can take their reverse mortgage proceeds is by having a monthly amount directly deposited to their checking account. Whatever the calculated amount is lasts for as long as the owner(s) live in their home. I.. Read More

Which is the better deal?

Shopping for a home loan isn’t fun. You hear a bunch of numbers and aren’t really sure how to make sense of it all. Have another look at my website article “Comparing Loan Offers” if it interests you. Here is some pract.. Read More

Prepare Your Kids to Buy Their First Home

You don’t want your kids to miss out on today’s housing market opportunities, and everything is different since you bought your house. Here’s a primer on how to position your young adults for their first home loan. .. Read More

Check it out

When you apply for financing, we’ll likely ask you for your last two bank statements. Here’s a quick run down of what we’re looking for. Many single people have put their parents on title as joint owners of their acco.. Read More

Affordability Snapshot

Time for a quick snapshot of our market’s affordability. Interest rates are still low, and homebuyers will be pleasantly surprised at how that affects a monthly house payment. The usual disclaimers all apply: Not everyone who .. Read More

Here’s a TIP

New mortgage disclosures became effective this week. Consumers will now be given a Loan Estimate at the beginning of their loan process. This form combines several earlier forms into one format. You’ll be told your loan amount.. Read More

Nope, That Won’t Help Your Score

A new survey conducted by TransUnion indicated that home buyers may not be as prepared to purchase a home as they thought. The survey revealed that those looking to buy a home within the next 12 to 18 months are not cognizant of the actions that .. Read More

Now that You’re Back to Work …

Suddenly lots of folks have been calling about buying a house, now that they’re back in the workforce. Whether they’ve been on unemployment, or have changed jobs, here is what they’re learning about qualifying for their next mo.. Read More

Getting Great Results

They told us the refinance market was over, but maybe they spoke too soon. Here are four case studies of your neighbors taking advantage of current market values and rates. Family A bought their first home in 2011 using a no-down-payme.. Read More

Wait – I Can’t Take Your Money!

Frustration abounds in mortgage world these days. Closing times are longer, and more regulated wait times will be implemented in the next 60 days. Here’s a particularly sensitive spot that’s been a recent issue. The Mortga.. Read More

Why Take 15 When You Can Have 30?

Hear me out before you protest, but taking a 30-year loan is the smartest thing you can do in today’s interest rate environment. Lots of folks are wanting to talk about refinancing to 15-year loans these days, what with interest r.. Read More

Before You Say I Do

Congratulations on your engagement! You probably want to begin your wedded life of bliss by buying your new home together. Or are you desperate to finish your divorce? Here is what you’ll want to consider about the timing of a home loan tra.. Read More

Defining “My” Money

Since this has come up five times in the past two weeks, it’s time to review the source of funds for a home purchase. Even for loans not requiring a down payment, the buyer is at least writing a check for the earnest money deposit to show t.. Read More

Home Ownership:
What You Need To Know Now

On-line home shopping website Trulia has recently produced a Rent versus Buy Report. Their findings show that in major metropolitan areas throughout the country, homeownership remains cheaper than renting. While this could be exciting news, .. Read More

It’s Taking Forever!

You’d think that all the new automation in mortgage lending would make things easier, right? Faster? More efficient? It’s not the case, and here’s why. Back in the day, not so long ago but before the internet was widely avai.. Read More

Is This Normal?

Nobody pays attention to mortgage lending for fun. No matter how much information is “out there” about the details, you won’t really notice it until it’s your turn to buy a house. Really, we aren’t trying to torture .. Read More

Buying Investment Property

Have you ever wanted to be a land baron? There are still some “deals” to be had in the housing market, but what does it take to buy rental property these days if you can’t pay cash? The most challenging prohibitions are Fan.. Read More

Does Having a Co-Signer Help?

When you bought your first car, mom or dad was probably there to help you qualify for the car loan by being your co-signer. That made them jointly obligated for repayment of the loan, since you likely had no credit history on file at that time. T.. Read More

Odds and Ends

For all my hoopla about VA loans lately, here’s something to consider if you want to use yours: If the VA has suffered a financial loss from you in the past, you may not be able to use your home loan entitlement. Twice recently we’ve .. Read More

Pre-Qualify Before You List

“Don’t touch anything! We shouldn’t be looking at a $300,000 house!” That’s what Mrs. Buyer said to Mr. Buyer when they went looking at new homes. They just wanted to get a feel for new neighborhoods and had not spok.. Read More

Other People’s Money

Leverage is good. If you can afford the repayment terms, using other people’s money can be a smart way to keep your own cash liquid in case of emergency. What does that mean in today’s mortgage world? Most purchase-money loans th.. Read More