Building a Better Strategy: Home Construction Loans When it comes to new construction loans, there are two main types of home loans to choose from: construction-to-permanent and stand-alone construction. Situationally, there are many reasons why either may be more appealing to a borrower than the alternative. Here’s the rundown… Construction-to-permanent loans With construction-to-permanent loans, the …
Buying a house with family members as a co-signer can often improve your outcome! I recently had the privilege of advising a family in purchasing a home in Portland. My main borrower was a first time home buyer, but he was assisted by his wife’s parents! The scenario was as follows: the wife was a …
Multi-generational living: buying a house with co-signers Read More »
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 a moment to highlight …
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
I received a very welcome email from my main man Grant Folske CPA telling me that I will be getting a refund from the IRS this year! One of the things that popped out at me that I had always been curious about was the fact that I had refinanced my own residence in 2009, and I …
Refinancing an Option Arm = Tax Write Off Bonanza Read More »
So I’ve posted links to press releases from HUD chief Shaun Donovan claiming plans to “monetize” the $8000 Credit in the form of some kind of nebulous “bridge loan” program. Then I posted an article showing how this plan was Dead on Arrival. Now I’ve been hearing that this credit will be accessible immediately upon close, but NOT for …
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 to make the one that you can live with. …
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 transaction to understand which …
I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some bright marketing minds that have been in the mortgage business for many years, are seeing an opportunity to be “where the pain is”. As a mortgage professional, I am targeted by sales and production experts …
I’ve been hearing the radio ads just like everyone else, and our favorite breathless loan cheerleader has lately been urging you to call him “if your rate is higher than 4.5%”. I’m sure he would love to refinance you over and over again without any regard to if it makes sense for you. Lets say …
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