Our Blogs

Learn more about everything related to mortgages through our blogs.

What’s the difference between private mortgage insurance and mortgage insurance premium?

If you are one of those buyers who can’t afford to pay a sizeable down payment, don’t give up on homeownership just yet. Mortgage insurance is a tool that can help you achieve homeownership despite the lack of funds for a down.When you pay for mortgage insurance as part of your monthly payments, you can get a home with less than 20% down payment, even 3% in some instances.

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October 2, 2022

What’s the difference between private mortgage insurance and mortgage insurance premium?

If you are one of those buyers who can’t afford to pay a sizeable down payment, don’t give up on homeownership just yet. Mortgage insurance is a tool that can help you achieve homeownership despite the lack of funds for a down.When you pay for mortgage insurance as part of your monthly payments, you can get a home with less than 20% down payment, even 3% in some instances.

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10/2/2022

Factors To Consider When Purchasing a Home as an Unmarried Couple

While exciting, real estate purchases can present challenges for unmarried couples. And since buying a home is a significant financial investment, it's best to prepare for those challenges before committing to the purchase.

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10/2/2022

How Do Second Mortgages Work?

Many homebuyers don't know they can take a second mortgage on their homes. The first loan, the primary mortgage, is taken while purchasing a property. A second mortgage is a type of mortgage that lets you borrow against the value of the same property while your first loan is not fully paid.

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10/6/2022

Making Sense of the Current Housing Market

The housing market has been a roller coaster ride since 2020, particularly as more people worked from home and looked for new places to live. Interest rates also hit a record low during this time, leading to a seller’s market where bidding wars and long lines of buyers at open houses were common occurrences.

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10/4/2022

Who Qualifies for Down Payment Assistance?

If you want to purchase a house for the first time but don’t have enough money for a down payment, getting a state or local down payment assistance program might be the best option.We’re going to look at what down payment assistance programs are all about and how you could qualify for one.

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11/21/2022

Best Home Loan Options for Single Parents

Are you a single parent who dreams of owning a home but nervous that you’ll encounter too many challenges? We’ve got good news for you! There are home buying assistance programs that can help you purchase a home.If you’re a single mom or dad who wants to buy a house, we’re here to list some loan programs that might work best for you.

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11/18/2022

Feds Hike Interest Rate: What This Means for Mortgages, Car Loans, and More

The Federal Reserve raised interest rates for the second time in recent months to rein in inflation. And whether directly or indirectly, consumers will start to feel the effects of increasing borrowing costs.Here's how that breaks down for you:

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11/14/2022

How To Buy and Sell Your Home As a Military Family

Being a part of a military family means you may not have a permanent address for some time. It’s common to receive orders to move to another station even if you’ve just settled into a house and neighborhood you love.To make the experience easier, we share some tips on buying and selling your home as a military family.

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11/11/2022

Here’s Why The Current Housing Market Isn’t Like 2008

Many news headlines are comparing the current housing market to 2008 due to inflation and the recent housing boom. But don’t fret because many experts agree that the Great Recession is unlikely to be repeated in this current market. One of the main reasons is that America’s housing market is in far better health now, thanks to the new lending regulations triggered by the Great Recession. Basically, the newly established rules put today’s borrowers on a more solid footing.Let’s dig in a little deeper.

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11/9/2022

How To Save For A Down Payment on a Tight Budget

Many homebuyers across the U.S. wonder how to save for a down payment with a tight budget. With rent rates climbing, inflation rising, and house prices still high, saving money for a down payment has become more tricky.The good news is that you can use several tips and tricks to save money and cut expenses. Let's explore some ways you can save money for a down payment.

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11/7/2022

What Does a Home Inspector Look For in a Home You Want to Buy?

It’s easy to fall in love with a home, especially if it looks good on the outside. In a seller’s market where buyers move quickly, some have considered waiving the home inspection to get their offer picked over the competition. Don’t fall for this trap and decide to do what others may have done. A home inspection is one of the most crucial steps in home buying that you shouldn’t avoid.A professional inspector is the only person who can see what we can’t and evaluate a home’s entire structure from its foundation up to the roof.

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11/4/2022

2022 Real Estate Market Predictions

Real estate market predictions are somewhat like weather forecasts in that no one’s capable of being 100% accurate, but an industry expert can make a reasonably close prediction. With that in mind, here is the general consensus about what to expect in the housing market for the rest of 2022. However, don’t let the predictions determine too much about your decision to buy a home — your finances and current circumstances should also influence your path.

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11/2/2022

Concessions You Can Get Even In A Seller’s Market

Who doesn’t want to get a good deal on a home? It’s normal for home buyers to try and negotiate with sellers to get the best deal possible.But in this seller’s market, where homes are selling fast and buyers don’t always have a lot of wiggle room to negotiate, you may be wondering if you can still bargain.The good news is, yes, there are still concessions you can get. We share some things you can haggle with your seller even if they don’t want to budge on price.

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10/31/2022

What Are The Closing Costs For A VA Loan?

As with any type of mortgage, VA loans have fees associated with getting the loan. These fees are often called “closing costs,” and they are paid to the lender for services rendered in creating and processing your mortgage. Note that closing costs must be settled before the loan can close and the funds distributed.

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10/26/2022

How Do Non-QM Loans Work?

Buying a home is part of the American dream, but what if you don’t qualify through traditional means? This is an issue that self-employed and other non-W2 workers often face since their proof of income and employment differs from what lenders typically require.The good news is that those who don’t meet the criteria for a qualified mortgage can be offered a non-qualified mortgage instead. Let’s explore the non-QM loan option and see if this is the right choice in your situation.

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10/28/2022

How Does A Mortgage Underwriter Verify Income?

The mortgage underwriting process is essential to verify income and ultimately determine whether the loan is approved or not. In addition to examining your income, the underwriter will also dive into significant events such as recently graduating from school, switching careers, or starting a new business. Because the amount of money being loaned is substantial, the verification process can be tedious and requires plenty of documentation to get it done.

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10/19/2022

How To Spot A Reverse Mortgage Scam

Reverse mortgages have helped countless senior homeowners convert a portion of their home equity into much-needed cash to provide added income during retirement.This type of loan offers many advantages for seniors, and it’s no surprise that many have been applying in recent years. If you think a reverse mortgage is right for you, contact us today for complete information and the latest reverse mortgage rates.

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10/24/2022

What’s The Minimum Credit Score For VA Home Loan Approval?

Through the VA home loan program, millions of veterans and service members have become homeowners. VA loans are favored for the following reasons: lower mortgage rates, no PMI required, no down payment necessary, and, to an extent, no minimum credit score requirements.

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10/17/2022

How Do You Get A Mortgage For A Rental Property?

Purchasing your first rental property is a big step in your real estate investor journey. Aside from choosing a potentially profitable property, you need to figure out how to finance your rental.Before sharing how to apply for an investment loan, look at how a primary home mortgage differs from a rental property mortgage.

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10/19/2022

5 Mistakes Newbie Investors Make When Buying A House To Flip

With many TV shows depicting house flippers having fun while making a profit, many investors have taken interest in the idea. In 2019 alone, 6.2% of all home sales in the U.S. were flipped homes! It sure looks easy on TV –buy a house, fix it up, put it back on the market, and make an easy sale –but is that all it takes? Before you join the bandwagon, let's look at some of the biggest mistakes flippers make so that you'll know how to avoid them.

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9/30/2022

Learn The Difference Between A Home Equity Loan vs. HELOC

HELOCs and home equity loans are loans where you use your home as collateral. Both are good options for borrowing money if you’ve paid a significant portion of your mortgage. Some homeowners think that these two are similar, but in reality, they are not the same.Let’s look at how these loans work and the significant differences between the two.

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10/14/2022

Step By Step Guide To Getting Your Credit Ready For A Mortgage

Did you know that you could save thousands of dollars if you prepare your credit before applying for a mortgage? Your credit score is one of the most critical factors that determine your mortgage interest rate and which home loan program you qualify for.This week’s article will show you how you can get your credit in top shape for your upcoming mortgage.

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10/12/2022

How Can I Get Approved for a Mortgage as a Contract Employee?

Contract employees who want to get a home loan can sometimes find it challenging. Traditional mortgages often lean towards an income that can be verified easily with W-2s. Income taxes for contract employees can sometimes get complicated and can further compound the problem. Fortunately, there are alternatives available to help self-employed or contract workers in these situations.

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10/10/2022

Buying Mortgage Points: Is it worth it?

Buying mortgage points is a way to secure a lower interest rate during the home buying process. It can save you several thousands of dollars in interest over the life of the loan and lower your monthly mortgage payment. Check out this nifty guide to learn how they’re calculated so you can assess if purchasing mortgage points makes sense for your situation.

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10/7/2022

What's a 2-1 buydown?

A 2-1 buydown is when a seller or buyer contributes extra money upfront to reduce the mortgage interest rate by 2% the first year, 1% on the second year, and on the 3rd year the interest rate will be fixed for the remainder of the mortgage.

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10/5/2022

Forgivable Equity Builder's Loan

Californian’s can take advantage of CALHFA’s new 10% down payment assistance program. The requirements to be eligible for this program is quite beneficial to first time home buyers looking to purchase a home anytime in the foreseeable future.

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10/3/2022

Are Adjustable Rate Mortgages a scam?

The short answer to this question is no. They are just mortgage loans that can adjust up OR down during the life of the loans. ARMs are generally considered a big red flag for people planning on getting a mortgage loan in 2022. This is partially true because of the housing bubble of 2007.

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10/2/2022

I am getting a divorce, what happens to my home?

In the US and the world, divorce rates have been increasing over the last few decades and sadly may continue. Many people are opting to never marry during their life because they don’t want to have to deal with a potential divorce if the relationship fails somehow. Marriages usually precede buying of a family home.

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10/1/2022

When should I start planning to buy a home?

Planning to buy your first home is the first step it takes to get into your dream home. Preparing for it often takes years for many people to get their finances in order so they can afford the house they want. It isn’t as simple as “save as much money as possible”

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9/29/2022

How to get a mortgage as a self-employed worker

Many 1099 or schedule C self employed borrowers are confused when it comes time to try to get a home loan. It’s true that W-2 employees are much easier to qualify for in terms of paperwork. Many loan officers deny working with self employed borrowers specifically for this reason.

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9/28/2022