Mortgage Tips

Simple mortgage tips to help you better prepare for the mortgage process and ideally save money on your mortgage.

Playing the Interest Rate Buydown Game

February 11, 2007 No Comments »

When seeking financing, homeowners often get fixated on a specific mortgage rate, usually something like 5.99% or a similar emotional threshold. But buying down interest rates is more complicated than just an attractive rate or a specific number. Homeowners really ... Read More »

Buy a House for Less than Your New Hybrid

January 18, 2007 No Comments »

As the mortgage industry shudders, and real estate goes cold, lenders continue to release exotic mortgage programs to further entice borrowers to purchase homes and refinance existing loans. The latest mortgage program of interest (no pun intended) comes in the ... Read More »

Rent Before Applying for a Mortgage

Rent Before Applying for a Mortgage
January 15, 2007 No Comments »

While it’s common for young, prospective homeowners to stay at home to save money for their down payment and future mortgage payments, banks and lenders consistently decline applicants without adequate rental history. Though it makes perfect sense to live at ... Read More »

Lenders Limiting Exotic Mortgage Programs

January 9, 2007 No Comments »

No more than a year ago, banks and mortgage lenders throughout the United States were battling one another to provide the most generous financing available, whether it came in the form of a super low payment on a negative amortization ... Read More »

Sell or Refinance, But Don’t Try Both

December 9, 2006 No Comments »

As home prices begin to fall, but still remain at near all-time highs, many homeowners are listing their properties to see if they can lock in some of the profit they’ve realized in the last few years. But the problem ... Read More »

Option ARM Loans Still Most Touted Mortgage Program

November 20, 2006 No Comments »

After considerable negative press, the option-arm, or pick-a-pay loan continues to be the most touted by mortgage companies, mortgage brokers, and loan officers. Despite the fact these types of loans have been highly scrutinized for their dangerous tendencies, the trend ... Read More »

Stubborn Sellers, Patient Buyers Rule the Market

November 5, 2006 No Comments »

You’d think everyone would be trying to sell their home after the big profits they made in the past few years. Well, they are selling, but no one is buying. Mainly because sellers aren’t willing to part with their beloved ... Read More »

A Little Lesson About Loan Officers

October 10, 2006 No Comments »

Over the past five years the mortgage industry has seen an explosion in growth. With super-low mortgage rates and a vast array of loan programs available, new purchases and mortgage refinances surged. And along with that boom came an influx ... Read More »

Pick-a-Default-or-a-Foreclosure-Pay Mortgage

October 7, 2006 No Comments »

Let’s take a moment to talk about pick-a-pay mortgages, otherwise known as negative amortization loans, which have surged in popularity in the last five years – so much so that they’ve been highly featured, and in turn scrutinized, from USA ... Read More »

Slow Housing Market, Great Interest Rates?

September 29, 2006 No Comments »

Housing starts dropped to a three year low last month, and for the first time in 11 years housing prices have dropped. This is based on a median price comparison from year to year data from August 2005 and August ... Read More »