Why do buyers need a REALTOR? REALTORs are professional real estate agents who adhere to the highest level of conduct and ethics. Many have years of experience, teams to support you and a deep understanding of every facet of the homebuying process. Hiring the right REALTOR makes all the difference! 1.REALTORs know the city and everything […]
Student Loans and Your Mortgage
You may have heard of Fannie Mae and Freddie Mac. These are government-sponsored enterprises (GSE) which securitize your basic conventional mortgages. Despite their many similarities, their guidance on how to qualify a borrower with student loans differ significantly. Now, in addition to conventional GSE’s, there are also Government loan options such as FHA, Rural Housing and […]
What happens after I sign the sales agre...
Congratulations! You found the house you want to buy. You’ve negotiated a sales agreement – you have a signed offer. What next? You need to give the sales agreement to your lender. Your lender will create a property-specific loan application and forward the application and disclosures for you to sign. Once you have signed these […]
Should I lock my interest rate?
Typically when you apply for a mortgage loan, you have the choice to lock the rate or float the rate. If you lock the rate, the lender will guarantee the rate for a set # of days (15, 30, 45 or 60 days typically). Generally, the shorter the rate lock term the better the rate. If you […]
What’s the best program for a first time
Many people wonder what the best program is for a first time buyer? The answer is dependent on the buyer’s credit score and credit profile, the buyer’s income and the amount of cash the buyer has to spend on down payment and closing costs. The combination of these items gives a loan officer clues to […]
Financing for Marginal Credit – which lo
If you have less than perfect credit, you may assume that you need a large down payment to get approved, but that is not the case. If you are eligible for a VA loan or an RD (Rural Development) loan, you may be able to get approved for a loan with no down payment! […]