I know this subject as been beaten to death like a dead horse, but in many cases home buyers tend not to take the importance of a mortgage pre-approval seriously enough when buying a home, especially in today’s Los Angeles real estate market. A mortgage is unlike other loans like buying a car. Qualifying for […]
The Importance of a Mortgage Pre-Approval When Buying a Home in Los Angeles Read More »
Check out Chicago loan originator, Gene Mundt’s, excellent post on the changes the year 2020 has brought on mortgage applications and what is yet to come: The year 2020 has been like no other … In many ways, because of all the challenges and upheaval, time has felt like it was moving at a snail-like
Anatomy of a Mortgage in 2020 Read More »
Gene Mundt, a Chicagol Mortgage Originator write another great post on how help move along your mortgage loan application by being pro-active. This is even mor important during the current crises we are facing. I’m presently working with multiple self-employed mortgage applicants … and as you would probably suspect, the process for these applicants is a
Buying a Home When Self-Employed? Some Useful Tips Read More »
If you are really serious about buying a home here are some things you should not do when applying for a mortgage. The first step to the home buying process, unless you are paying cash is going to be to talk to a lender. Without proof of funds or a letter from a lender showing
What You Should Not Do When Applying For A Mortgage? Read More »
While you are waiting for new housing inventory to come on the market in Los Angeles Rob Spinosa has great advice on how to avoid damaging your credit. These are good tips to follow.
10 Things Buyers Can do While Waiting For Inventory Read More »
One topic … one direction provided during the Mortgage Process that seems to baffle and frustrate my prospective home buyers during their Mortgage Process, surrounds the sourcing and documenting of Down Payment and Closing Cost Funds. When I touch upon this portion of the Process I often hear the comment, “it shouldn’t matter where the
The Importance of Verification of Funds in Mortgage Process Read More »
Inside Mortgage Finance News reported on October 28, 2014 … “Total mortgage-related complaints filed by borrowers with the Consumer Financial Protection Bureau fell again in the third quarter of 2014 – the fifth drop in the last six quarters, according to figures compiled by Inside the CFPB. Data contained in the CFPB’s consumer complaint
How to Make Your First Mortgage Payment Read More »
As a Chicago-area Mortgage Lender, I’ve always been asked a lot of questions regarding Taxes and Property Assessments. Property Taxes, and subsequently monthly tax escrow contributions, play a very important role in loan approvals/denials. But throughout the recent housing downturn, the topic of property taxes and assessments has cropped-up more often and has become far
I Received a New Property Assessment. What Do I Do? Read More »
Should I Pray or Should I Co? I tend to see a fair amount of high loan-to-value mortgage scenarios, mostly because real estate values here in Marin County, the San Francisco Bay Area and coastal California, in general, tend to be high. And I think it also has a lot to do with the formidable task
Using Gift Funds or a Co-Signer to Help With Your Mortgage Read More »
A large percentage of the potential home-buyers I speak to have a basic knowledge of how credit scores influence the interest rate received when they finance their home purchase. Most understand the basic principal: The higher their credit scores, the lower their interest rate. I read a CNBC article today entitled, “How poor credit costs
The Many Ways Poor Credit Scores Cost You Read More »
