5 Advantages of a Direct Lender
When you work with a direct mortgage lender, you apply with the same company who will be documenting, approving and funding your home loan. It’s a one-stop shop and it has some major advantages. Pros of Direct Lenders The benefits of working with a direct lender are many but two distinct advantages stand out: Competitive […]
Mortgage Company Reviews – What To Look For
Begin the process by reading the fine print of each site you choose to work with. Understand the terms of use and privacy policies. If you are shopping for loan rates on sites like Bankrate or LendingTree, be sure to read their FAQ section, and reviews. These sites are businesses that make money by working […]
Difference Between a Primary and Secondary Mortgage Market
Primary Mortgage Market A primary mortgage market is the market where mortgage loans are originated. Borrowers and lenders meet in the primary mortgage market to negotiate the terms of loans and hopefully enter into lending agreements. Once a loan has been established, it could be sold to another financial institution, by this entering the secondary […]
Comparing Mortgages – Points, Interest Rates and Fees
Points A point is a fee equal to 1% of the loan amount. A 30-year, $150,000 mortgage might have a rate of 4% percent, but come with a charge of 1 point, or $1,500. A lender may charge 1 or more points. There are two kinds of points: discount points and origination points. Think of […]
5 Tips to Help You Choose the Right Mortgage
Finding the right mortgage involves some digging. Interest rates, points, processing costs and adjustment features all affect how well a mortgage suits your needs. 1) Current Offerings To find out about lenders’ current offerings, you have a couple of options: call lenders directly, or google lenders in your area and interview them to see if […]
How To Find and Choose a Mortgage Lender
Mortgage Broker Buying a house can be a daunting task. A mortgage broker can help. They are the professionals that match your needs with a home loan from a selection of lenders. But, it’s important to choose the right lender. Choose one who is knowledgeable, accredited, and has proven results. Start by asking someone you […]
Mortgage Approval Process FAQs
As a preliminary step, you should get pre-approved by a reliable lender before searching for a home. Documents Needed to Apply for a Home Mortgage To apply for a home mortgage, you will need to provide your lender with documentation, verifying your employment history, credit, and overall financial situation. If you are applying with someone […]
Private Mortgage Insurance (PMI) in California
PMI, or Private Mortgage Insurance is a policy provided by private mortgage insurers to protect lenders against loss. If you are making a down payment of less than 20 percent, you will most likely be required to get PMI. This guarantees that the lender will receive 80 percent of the loan, if you happen to […]
Mortgage Lender Reviews
I’m often asked why someone should work with me, over another mortgage professional. Perhaps a mortgage lender offering a significantly lower rate, or lower cost, and my response to them is to google that person to see what other people are saying about them and their services. Often times if a deal is too good […]
A Five Star Mortgage Professional
I have been blessed to have won for a second year in a row, the Five Star Mortgage Professional Award as seen in San Diego Magazine March, 2013 edition. The 5 Star award program is designed to identify mortgage professionals in a given market, who satisfy objective criteria that are associated with providing exceptional and […]
