Is Your Mortgage Broker Licensed? If Not, You Might Be Making a Mistake….Here’s Why

Before hiring a mortgage broker, you should understand the role that he or she plays in the process of obtaining your mortgage.  Your mortgage broker will not be the person funding your loan; he or she will negotiate the loan with wholesale lenders like the banks.  After your interaction with the broker, your loan will […]

Why do i need to have a mortgage broker in the first place? Can’t I just work straight with a lender?

The Pros and Cons of a HomePath Mortgage: Is it worth it?

The Federal National Mortgage Association (FNMA), an entity more commonly known as Fannie Mae, has adopted the brand, HomePath, as the name used on all Fannie Mae-owned properties.  Consumers now have the option to apply for a HomePath Mortgage, which is a specialty mortgage product available for all properties owned by Fannie Mae.  As with […]

Understand Your Product Options and Know which is Best for You (Not What Pays Your Broker More!)

Mortgage brokers profit off of the loans they broker based on several factors, so it is up to you to make sure the loan you are applying for is best for YOU, rather than the loan that offers the highest income potential for your broker.  There are several ways to do this: First, the simple […]

My realtor wants to see a pre-approval letter before we start looking for a house. Is this standard?

Why Getting Pre-Approved in Writing is Important When Searching for a House

When you begin the search for a new home and contact your realtor, he or she is likely to ask if you have been pre-approved by a bank or lending institution.  Many people get annoyed with this request, but it’s important to understand why the realtor is asking this question and how a pre-approval will […]

Why You Should Take Advantage of Historically Low Mortgage Rates NOW

While rates for mortgages have been edging upwards, they are still at some of the lowest in history.  And according to Greg McBride, a senior financial analyst for Bankrate.com, the trend of edging upwards is one that is likely not here to stay.  “The U.S. economy is not out of the woods,” he states. “The […]

I want to refinance but I also want to get the lowest rate possible. Should I hold off for a little while to see if rates dip even lower than they are now?

FHA Streamline Refinances: Too Good To Be True?

With mortgage rates at very attractive lows, many homeowners are seeking to refinance their existing mortgages to take advantage of the savings that lower rates bring.  While low rates are good news, if your current mortgage is an FHA mortgage, there’s great news for you: FHA offers Streamline Refinances, which are the fastest, easiest way […]

Have You Served Our Country in the Military? If So, You Likely Qualify for a Zero Down Mortgage for Veterans

It takes a special kind of person to be willing to give his or her life for the freedoms our country enjoys, and without a doubt, members of the military should receive special benefits not given to the rest of the population.  That’s why if you are a veteran and in the market for a […]

I want to refinance to take advantage of the current low interest rates but my home is underwater. Am I stuck with my high interest rate for good?

HARP 2.0 and What it Means for Homeowners Who are Underwater

If you are sitting in a home for which you owe more than it is currently worth, you are one of millions of homeowners in the exact same predicament.  The good news is that you no longer have to sit underwater with a mortgage that is sub-prime or at interest rates that far exceed what […]