Hard money lending for real estate

BOULDER  – The following article is a summary from the book, “Realtor for Life,” written by Duane Duggan. When you hear “hard money loans,” you might picture money changing hands in a dark alley and rough collection techniques when the loan comes due. However, that...

5 ways and reasons to refinance your mortgage

Though mortgage rates have rebounded some from the lows seen in 2016, they remain very attractive. Many homeowners are refinancing before rates go higher. Yes, you can save money by doing a simple refinance in which you swap a lower rate for your existing higher rate....
The importance of locking in an interest rate

The importance of locking in an interest rate

Many homebuyers take a sigh of relief once their search is over: at last, they have a property under contract. The hard part is done – the showings, the negotiating, and the approval are complete. But that doesn’t mean you can let your guard down: locking in an...

What are mortgage points? Should you pay them?

When people want to find out how much their mortgages cost, lenders often give them quotes that include loan rates and points. What exactly is a point? A point is a fee equal to one percent of the loan amount. A 30-year, $150,000 mortgage might have a rate of seven...

The Benefits of VA Loans

In the world of real estate, VA loans sometimes get a bad rap. However, there’s no reason for this unfavorable reputation. In fact, VA loans are often beneficial to both seller and buyer. What are VA loans? VA loans are also known as Veteran Affairs mortgages. They’re...

Mortgage commitment vs. Clear to close

Buying a home involves understanding many different real estate and mortgage terms. Two very important ones to learn for mortgages are “mortgage commitment” and “clear to close.” Below, we discuss the distinction between these terms and why the differences are...
5 questions to ask your mortgage lender

5 questions to ask your mortgage lender

Selecting a mortgage company is one the first steps in buying a home, and it’s an important one. Much of the home buying process hinges on the work performed by the mortgage company. As a buyer, you can essentially choose any lender. However, there are a few...

To Refinance, or Not – That is the Question

The following article is a summary of content from the book, “Realtor for Life,” written by Duane Duggan. When interest rates drop, you might wonder whether or not it makes any sense to refinance. Unfortunately, there are many different “rules of thumb” being directed...
Closing a loan in the name of an LLC

Closing a loan in the name of an LLC

Closing a residential loan in the name of an LLC isn’t easy. Simply put, lenders want to lend to people, not to legally-protected companies. But potential homeowners set on this idea do have some options, with certain ones possessing more risk than others. What is an...
How the US Treasury influences your interest rate

How the US Treasury influences your interest rate

In good news for homeowners, interest rates have dropped, which is partly dictated by the U.S. Department of Treasury. In 2016, the treasury note fell after Great Britain’s decision to flee the European Union scared investors. But it rebounded when Donald Trump was...
Should you make extra mortgage payments?

Should you make extra mortgage payments?

You’ve probably heard people say that it’s a good idea to make extra mortgage payments. This pays down your balance and can significantly reduce the number of years that it takes to pay off your mortgage. However, it’s important to note that it’s not necessarily a...

Which type of lender is right for you?

There was a time when most homebuyers obtained their mortgage loans through their banks or credit unions. Today, however, there are a number of additional home-financing providers. Which one is right for you? DIRECT LENDERS Banks, mortgage banks and non-bank lenders...