Mortgage Blog

Mortgage Advice, Homebuying Tips & Market Updates

Friday's FAQ's!

Friday's FAQ's!

We have guaranteed bonus and commission income - how do you treat this?  Normally when a borrower has commission or bonus income, it is averaged over a 24 month period.  If the income is guaranteed, it is treated like regular salary.

Feb 20, 2015 |

Cancelling Mortgage Insurance

Cancelling Mortgage Insurance

This week, USA TODAY reported many millennials don't enter the housing market because they're intimidated by all the confusing terminology. From the article: "After putting away enough savings, the biggest hurdle for Millennial buyers may b

Feb 20, 2015 |

The maximum amount a seller can contribute to the closing costs

The maximum amount a seller can contribute to the closing costs

People often ask me:  What's the maximum amount a seller can contribute to the closing costs? The answer depends on the loan program. The chart below shows the seller contributions for conventional loans based on the down payment. Note: The c

Feb 19, 2015 |

Friday's FAQ's!

We are receiving a gift for our down payment.  It will be in excess of 20% of the purchase price.  Someone told us part of that money has to be our own funds.  Is this true?  If the down payment is in excess of 20% of the purcha

Feb 09, 2015 |

Closing Costs Estimator Chart

Closing Costs Estimator Chart

When you negotiate a contract and decide on a lender, you should always take into account closing costs and pre-paids. Here's the difference between the two. Below I have pasted a chart for a closing cost estimator. I hope yo

Feb 09, 2015 |

FHA Renovation Program Lunch & Learn Feb 19

FHA Renovation Program Lunch & Learn Feb 19

Feb 03, 2015 |

Ready to Fund Your Dreams?

Reach out to our team of local mortgage specialists and take the initial step towards homeownership. Our team is ready to assist you throughout the process, offering you the necessary information and guidance to help you make informed decisions for your unique needs. Don't delay any longer - apply today to begin.

 

APPLY NOW