Underwater on your mortgage? We Can Help!
Many homeowners have fallen victim to the slumping real estate market and find their homes worth a fraction of what they were when they originally financed them. With home values less than the mortgages taken out on the homes (LTV's Loan to Value more than 100%), most people believe that the goal of refinancing into a lower rate or shorter term mortgage are unavailable to them due to lowering property values. Are you one of the many homeowners in this situation? Have you met with Mortgage Bro ... Read More...
Home Affordable Refinance Program Loans (HARP)
Rates are at all time lows. If your loan is owned by Fannie Mae or Freddie Mac, now is the time to take advantage of once in a lifetime low rates and new guidelines helping homeowners refinance into lower rate/term loans EVEN if you owe more than your home is worth. What Is The HARP Program? The Obama Administration’s Home Affordable Refinance Program (HARP) is designed to assist homeowners in refinancing their mortgages – even if they owe more than the home’s current value. HARP ... Read More...
Four Possible Reasons To Refinance
A mortgage is generally the largest debt most homeowners have to manage. It's a good idea to give your personal real estate finance portfolio a check-up at least once a year. Since there are many reasons a homeowner may choose to refinance, we'll take a look at the four most common. 1. Mortgage Rates Drop: Typically, the most common reason that homeowners refinance their mortgage is to secure a lower interest rate. Interest rate and loan amount determines the total cost that a ... Read More...
Calculating Loan-to-Value (LTV)
Understanding the definition of Loan-to-Value (LTV), and how it impacts a mortgage approval, will help you determine what type of loan amount and program you may qualify for. Since the LTV Ratio is a major component of getting approved for a new mortgage, it's a good idea to learn the simple math of calculating the amount of equity you may need, or down payment to budget for in order to qualify for a particular loan program. The LTV Ratio is calculated as follows: Mortgage Amount divided ... Read More...
The Mythical Record Low Interest Rate!
Have you seen or heard of record low interest rates on the news or in the paper, and then talked to your mortgage advisor only to find out that the rates you heard about aren't available. Why is this? Is my mortgage advisor not telling me about lower rates or are they not as competitive with their i ...
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Understanding the FHA Mortgage Insurance Premium (MIP)
* Disclaimer – all information in this article is accurate as of the date this article was written *
The FHA Mortgage Insurance Premium is an important part of every FHA loan.
There are actually two types of Mortgage Insurance Premiums associated with FHA loans:
1. Up Front Mortgage Insur ...
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Home Affordable Refinance Program Loans (HARP)
Rates are at all time lows. If your loan is owned by Fannie Mae or Freddie Mac, now is the time to take advantage of once in a lifetime low rates and new guidelines helping homeo ...
Underwater on your mortgage? We Can Help!
Many homeowners have fallen victim to the slumping real estate market and find their homes worth a fraction of what they were when they originally financed them. With home values l ...
Seven Things Your Agent Should Know About Your Mortgage Approval
While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.
New regulation, updated disclosures, appraisal guidelines, mortgage rate pric ...
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Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?
Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence.
Perhaps you are outgrowing your current house, or have been forced to relocate due to a job ...
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Shane Kidwell : MLO-200950 Contact me @ 206.200.4409
Specializing in helping Home Owners and First Time Buyers achieve their home ownership goals.
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