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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…

What Is a Conforming Loan? A Conforming loan is a mortgage loan that follows and conforms to specific Fannie Mae and Freddie Mac guidelines. A Conforming loan is directly tied…

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…

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…

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…

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…

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…

Historically, residential properties that were financed with Conventional mortgage loans and then transferred and held in an LLC by the owner was not recommended. If a borrower wanted to refinance…

The winter season tends to slow down the real estate market which can be advantageous to those willing to house hunt during these cold months. There tend to be fewer…

With the New Year having arrived, there have been some drastic improvements to mortgage loan limits for Conventional Financing. Conventional financing includes both Conforming and High Balance loan limits, which…