Mortgage Closing Costs

In addition to the basic mortgage underwriting, processing and origination fees that are charged by a lender, there are several other costs associated with purchasing a new property. Since every player on your real estate home buying team has a stake in your transaction, it’s a good idea to know how to budget for their… [Read More]

Renting vs Buying A Home

Buying a home versus renting is a big decision that takes careful consideration. While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on emotion. Yes, there are some tax advantages of owning real estate, as well as the… [Read More]

Fannie Mae Announces Changes to the Debt Ratio

Fannie Mae changes the debt ratio to help you get a mortgage in 2017! Have you ever heard “your debt ratio” is too high from a mortgage lender? Fannie Mae recently announced changes to its debt-to-income ratio policy, increasing its allowance from 45% to 50% starting on July 29th. Here is what that’s going to mean… [Read More]

Reasons to Refinance Your Mortgage

A mortgage is generally the largest debt most homeowners have to manage. It’s a good idea to give your personal real estate finance portfolio a check-up at least once a year. Since there are many reasons a homeowner may choose to refinance, we’ll take a look at the four most common. 1. Mortgage Rates Drop:… [Read More]

Mortgage Terms To Know

While most mortgage web sites offer a glossary containing hundreds of real estate and lending related terms, we wanted to highlight the top terms that most borrowers will hear several times throughout the approval and home buying process. Understanding the “Shop Talk” between the various industry professionals that you’ve assembled on your team will hopefully… [Read More]

How Much Can I Afford?

How much mortgage money can I qualify to borrow? This is typically the number one question mortgage professionals are asked by new clients. Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for a comfortable long-term… [Read More]

Your Home Buying Team

Buying a new home is literally a team sport since there are so many tasks, important timelines, documents and responsibilities that all need special care and attention. Besides working with a professional team that you trust, it’s important that the individual players have the ability to effectively communicate and execute on important decisions together as… [Read More]

Common Documents Required For A Mortgage Pre-Approval

Even though many lenders are still quoting quick 10 minute pre-qualifications over the phone or online, a true mortgage approval that holds any weight is one that has been issued by an underwriter who has had an opportunity to review all of the necessary documents. With a constant stream of new lending guidelines, volatile mortgage… [Read More]

First-Time Home Buyer Credit Checklist

Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps. Since there are so many rules and steps to follow, here is a simple list of Do’s and Don’ts to keep in mind throughout the mortgage approval process: DO: •… [Read More]

What Is A Home Appraisal?

When you’re buying a home using a mortgage, refinancing your existing mortgage, or selling your home to anyone other than an all-cash buyer, the home appraisal is a key component of the transaction. Whether you’re a buyer, owner or seller, you’ll want to understand how the appraisal process works and how an appraiser determines a… [Read More]