The coronavirus pandemic has caused massive volatility in the financial and mortgage markets. In the past few weeks, there have been dramatic shifts in interest rates that are rarely seen….
COVID-19 & Mortgages: Everything You Need to Know
Our office has been getting inundated with requests as to how COVID-19 and the surrounding events are impacting their mortgages, so we decided to put a quick FAQ post about…
Different Types of Private Mortgage Insurance
There are four types of private mortgage insurance that are issued with Conventional loans. Figuring out which one is the right fit can be challenging as each type of Mortgage…
What Affects Your Interest Rate?
Mortgage lenders have a systematic approach to determine how a borrower qualifies for a specific interest rate. While it may seem obvious that borrowers want to receive the lowest interest…
Impound Accounts – A Primer on Property Tax and Homeowners Insurance
An impound account, also known as an escrow account, is a prepaid account set up by a lender to collect the borrower’s property taxes and homeowners insurance premiums. These payments…
The Income-Equity-Credit Triangle
Many things in the mortgage industry have changed and evolved throughout the years. One aspect of the mortgage loan process that continues to stay the same is how mortgage loans…
Down Payment Gifts
When it comes to purchasing a home there are a few obstacles that a borrower may come across. The most common obstacle is being able to save for a down…
Cars & Mortgages
What do cars and mortgages have to do with each other? Let us explain further: When a borrower qualifies for a mortgage, the debts reported on their credit report ultimately…
Understanding Your Debt to Income Ratio
When applying for a mortgage loan, lenders keep track of several important ratios and numbers to qualify a borrower. One of the most important calculations is a borrower’s overall Debt-To-Income…
What Are My Closing Costs?
It’s no mystery that there are closing costs whenever a buyer purchases a new home or refinances a property that they already own. The question is, what are these closing…
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