Mortgage Tips

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

Mortgages for Doctors: Expanded LTVs and Large Loan Amounts

Mortgages for Doctors:  Expanded LTVs and Large Loan Amounts
September 6, 2017 No Comments »

If you’re a doctor, or even a resident, or even a veterinarian, getting a mortgage can be a little bit easier thanks to so-called physician mortgages offered by most major lenders. Just about every bank offers a special mortgage program ... Read More »

Primary Residence vs. Second Home vs. Investment

Primary Residence vs. Second Home vs. Investment
August 22, 2017 2 Comments »

Sometimes I’m surprised I miss the most basic of mortgage definitions, seeing that this blog has been around for more than a decade, but alas, I’ve never written about occupancy specifically. So without further ado, let’s talk about the three ... Read More »

These Six Things Will Happen If Mortgage Rates Go Up

These Six Things Will Happen If Mortgage Rates Go Up
August 14, 2017 No Comments »

We’ve been worrying that mortgage rates would go up for years now, but it just hasn’t happened yet. Sure, they’re up a little bit from record levels, but not by as much as expected. The 30-year fixed still sits firmly ... Read More »

What Will Happen to Your Mortgage When the LIBOR Goes Away?

What Will Happen to Your Mortgage When the LIBOR Goes Away?
August 7, 2017 No Comments »

If you have an adjustable-rate mortgage, I’ve got some important news for you. The London Interbank Offered Rate, or LIBOR as it’s known to most, is going to be phased out over the next five years. After 2021, it won’t ... Read More »

How Long Does It Take to Get a Mortgage?

How Long Does It Take to Get a Mortgage?
July 20, 2017 No Comments »

Mortgage Q&A: “How long does it take to get a mortgage?” This is a fairly common mortgage question because we humans aren’t very patient. This is compounded by the fact that we’re asking for a very large sum of money ... Read More »

Fannie Mae Increasing Max DTI to 50%, Upping LTVs for ARMs

Fannie Mae Increasing Max DTI to 50%, Upping LTVs for ARMs
June 27, 2017 No Comments »

There’s been a lot of talk lately about mortgage lenders easing credit standards as refinance volume wanes and purchase activity remains constrained by limited inventory. Because more and more new entrants (many so-called disruptors) have joined the fray, and there’s ... Read More »

Can Credit Card Churning Hurt Your Chances of Getting a Mortgage?

Can Credit Card Churning Hurt Your Chances of Getting a Mortgage?
May 18, 2017 No Comments »

These days, it’s not uncommon for individuals to open a bunch of credit cards in a short span of time to acquire lots of points and/or cash back. Those who do it on a serial basis are known as churners. ... Read More »

The Best Time to Buy a Home Is in August and September

The Best Time to Buy a Home Is in August and September
May 11, 2017 No Comments »

Wondering when the best time to buy a home is? And the worst time? Well, thanks to data science, we no longer have to guess whether it’s fall and winter, or spring and summer. I’ll save you the suspense: the ... Read More »

What Is Mortgage Protection Insurance? And Do You Need It?

What Is Mortgage Protection Insurance? And Do You Need It?
May 2, 2017 No Comments »

So you just closed on your mortgage and you’re beginning to settle into your new home (and your new loan). You’re assessing the many things that will need to be fixed and changed to make your house a home. Then ... Read More »

Do You Need 20% Down to Buy a House?

Do You Need 20% Down to Buy a House?
April 10, 2017 1 Comment »

It’s been some time since I’ve done mortgage Q&A, so without further delay, let’s explore the following question: “Do you need 20% down to buy a house?” If you chat with anyone older than 50 (maybe 60), they’ll probably tell ... Read More »