Mortgage Tips and Advice

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...

FHA refinancing tips

FHA mortgages work a bit differently than conventional loans. Understanding the differences can help you save money during the refinance process. If you have an FHA loan, keep these tips in mind. Saving on Mortgage Insurance premiums FHA mortgages include an up-front...

Why millennials are choosing FHA Loans in 2017

Why millennials are choosing FHA Loans in 2017

In Denver, Boulder and throughout most major U.S. cities, a growing number of millennials are buying a home with an FHA (Federal Housing Administration) insured mortgage. The findings are based on the latest report from Ellie Mae, a mortgage industry software firm...

Updated mortgage loan limits for 2017

Every year, different housing agencies review and update national loan limits for mortgages. This is important since home prices fluctuate over time. It seems necessary for loan limits to adapt to those changes. Here’s an update on mortgage loan limits for 2017....

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