Mortgage Application Basics
A mortgage loan application is a “simple” 4 page document that collects information about employment and income, assets, debts, credit, and a host of personal information as well. All of this is designed to put all of the key elements required to get a mortgage loan approval in one document. But before you sit down [...]
Mortage Rates Throughout the Day
According to a recent survey of home buyers, 55% of them didn’t know that mortgage rates can change throughout the day. In fact they change exactly as often as market forces dictate. Sometimes that means that the first rate sheet of the day for each lender doesn’t change. Other times the price of a given [...]
Bi-Weekly Mortgage Payments
As a homeowner, I frequently get offers from companies looking to save me “tens of thousands” of dollars on my mortgage, while I pay if off 7 years sooner. As a mortgage professional, I frequently get offers from companies encouraging me to resell their services to my borrowers so that they can save “tens of [...]
How the Loan Officer Compensation Rule Ends the Rate Debate
Posted in: Industry News, Loan Process, Purchase, Truth in Lending
All loan originators are all working on a fixed compensation plan now, so you should always be offered the best rate you qualify for. But that’s just the tip of what you should be concerned with.
What Do Appraisers Look For When Determining A Property’s Value?
There is a formula for how an appraiser determines the market value of a house, and it has nothing to do with the tax assessment.