Reverse Mortgages

If you want to stay in your home as long as you can, but you need the equity in your home to pay your bills or just live better, then you may want to consider a Reverse Mortgage. A reverse mortgage is a program where the lender pay you, and in return would get re-reimbursed […]

Paying Off The Mortgage

With the crazy stock, real estate and financial markets, many of us are concerned about paying off debt. And one of the biggest areas of debt is the home mortgage. Should you pay off your mortgage? As usual, the answer depends on your personal situation. First, you should determine whether paying off your mortgage early […]

Home Appraisals

Any home purchase or home loan refinance will require a property appraisal. A lender needs to find out how much your home is worth to determine how much they will loan you. Even if you think your home is worth more than you are refinancing, the lender will want to use the home value to […]

Consolidating Debts through Refinancing your Home Mortgage

As rates creep up, so do many homeowner’s home equity loan interest rates, credit card interest rates, and adjustable home loans. When you look at whether to refinance your home mortgage, make sure you examine all of your debt. Here’s how to determine whether you should refinance to consolidate all of your debt. Add up […]

Locking in the Mortgage Rate

Just when you think you know how much your monthly payment will be, you find a perfect home, write the contract, qualify for the loan and wham! The mortgage interest rates go up. Most lenders will not allow you to lock an interest rate until you have a signed contract for the home, but after […]

Prequalify for a Home Loan Before You Start Home Shopping

Why get pre-qualified by a lender before looking for your next home? Based on my first hand experience with clients, I have found several compelling reasons for home buyers to get pre-qualified for a loan. 1) You’ll uncover credit problems. In the ideal world, you’d contact your lender 6-9 months in advance to see what […]

Income Requirements to Buy a Home

It’s not all about the take-home pay when buying a home.  Banks look at both your INCOME and DEBT when deciding whether you qualify. They rely on two ratios, often called the “front-end” debt-to-income (DTI) ratio and the “back-end” debt-to-income ratio. You can calculate these ratios yourself and determine how much home payment you can […]

Comparing Loans: How to Compare Mortgage Companies and Loan Products

Even after hundreds of Mortgage companies went out of business during the real estate bust of 2006-2008, there are still plenty of mortgage companies out there. Should you shop around? Probably, but the shopping process is time consuming and should be done quickly, as interest rates change daily. Unfortunately, the plethora of loan programs out […]

Mortgage Calculators

Here are a number of online tools which will calculate a number of different mortgage and financial situations for you. Just enter the details and hit Submit.

USDA Rural Home Loan Program

Do you want to buy a home in a suburb or rural area? Consider the USDA loan program, where lower income individuals can buy a home and finance 100%! 100% financing has become increasingly rare in this lending environment, so it should be considered if you can qualify and you have little money for a […]