Skipping a payment when you refinance
Skipping a payment when you refinance Mortgage borrowers of the world! It’s time for some “real talk” about the true and actual benefits of refinancing a mortgage. I often get clients who are excited about “skipping a payment” as a result of the refinance process. And I in no way want to pour any water […]
Potential Jumbo Refinancing Candidates
Potential Jumbo Refinancing Candidates So, if you pay attention to this blog, you know that interest rates have popped up from their mind-boggling lows in early November. Mortgage Refinances still make a ton of sense for many, but some are waiting for a return to the glory of those heady days… and I believe they […]
Why is Mortgage Underwriting So Crazy?
Why is Mortgage Underwriting So Crazy? Why is the loan approval process so difficult these days? Well, the answer is complicated. The truth is that the approval and funding process for a conforming, FHA, or VA, government insured mortgage has never been more complex since I’ve been in the business (since 2003). To get to […]
What To Do If You Are Underwater On Your House
What To Do If You Are Underwater On Your House Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. […]
What is the best way to pay your mortgage?
What is the best way to pay your mortgage? So now you’ve got a mortgage. What is the best way to pay it? Should you make extra payments? What about bi-weekly payment programs? Should you sign up for auto pay directly with your mortgage lender? There are lots of choices to make, and you’ve got […]
What is Correspondent Lending?
What is Correspondent Lending? I’ll try to make this brief, because this is kind of a boring topic, but a very important one if you are in the real estate industry. There are a variety of ways that homebuyers access Mortgages, and its becoming more and more critical to the outcome of your real estate […]
What is a Mortgage? (Probably more than what you think)
Asset Verification and Sourcing deposits for mortgage approval Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the mortgage loan game since 2003 and it never ceases to thrill me when we close and fund another one! Why you ask? Because […]
VA
VA Loans The VA mortgage is available to those who are serving in the US military, or have been discharged from service in the past. The VA loan is a great benefit for those who qualify. The hallmark of the VA loan is that it allows for 100% financing. No down payment! Additionally- the VA […]
USDA
USDA Loan The USDA loan is similar to the FHA in some ways. It is insured by a government agency, but not the Federal Housing Administration….(or the department of Veterans Affairs). The USDA loan is insured by the US department of Agriculture! There are some major limitations to the USDA loan program, the main one […]
Two Portland Mortgage Success Stories
Two Portland Mortgage Success Stories It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end-of-summer real estate frenzy/climax is upon us. I wanted to take […]
