Mortgage Tips

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

What Does It Mean to Be House Poor?

What Does It Mean to Be House Poor?
March 14, 2018 No Comments »

If you’re an existing homeowner or an aspiring one, you may have heard the phrase “house poor,” typically uttered by an overextended borrower. It may also serve as a warning to a first-time home buyer. First, let’s define what it ... Read More »

What Is a Letter of Explanation?

What Is a Letter of Explanation?
March 12, 2018 No Comments »

Mortgage Q&A series: “What is a letter of explanation?” If you’re currently going through the joyful process of obtaining a home loan, you may have been asked to furnish a “letter of explanation” or LOE to provide a little more ... Read More »

What Is a Gift Letter for a Mortgage?

What Is a Gift Letter for a Mortgage?
March 5, 2018 1 Comment »

Mortgage Q&A: “What is a gift letter?” A reader recently inquired about mortgage gift letters, so instead of simply answering their question, I figured I’d write an entire post on the subject to help others better understand this topic. If ... Read More »

HUD Homes: Buy a Foreclosed Home for a Potential Discount

HUD Homes: Buy a Foreclosed Home for a Potential Discount
February 27, 2018 No Comments »

With the red hot real estate market showing no signs of letting up, prospective home buyers need to get increasingly creative in order to land their dream home, or any home for that matter. The fact of the matter is ... Read More »

Airbnb Income Can Officially Be Used to Qualify for a Mortgage Refinance

Airbnb Income Can Officially Be Used to Qualify for a Mortgage Refinance
February 8, 2018 No Comments »

Call it a sign of the times, or perhaps the power of the sharing, or “gig” economy. You can now officially use Airbnb income to qualify for a mortgage refinance with select lenders. Yes, if you’ve been renting out your ... Read More »

10 Reasons to Buy a House Other Than for the Investment

10 Reasons to Buy a House Other Than for the Investment
January 18, 2018 No Comments »

There are a lot of good reasons to buy a house, and probably a lot of bad ones too. But all too often, folks seem to get fixated on the investment side of things above all else, as if they’re ... Read More »

HELOC vs. Credit Card: Why the Plastic May Work Out Better

HELOC vs. Credit Card: Why the Plastic May Work Out Better
January 17, 2018 No Comments »

You may have heard recently that “tappable” home equity has reached an all-time high, thanks to rapidly appreciating home prices and conservative borrowing on behalf of existing homeowners. If you haven’t, know that some 42 million homeowners have around $5.4 ... Read More »

Rent or Buy in 2018? More than Half of Markets Still Favor Buying

Rent or Buy in 2018? More than Half of Markets Still Favor Buying
January 12, 2018 No Comments »

It’s a new year, but the rent vs. buy a home argument hasn’t gone away, or become any clearer. It’s always a complicated decision, with or without confusing tax changes. At the same time, it’s a personal question with a ... Read More »

Buying a Home in 2019? 11 Tips to Get It Done!

Buying a Home in 2019? 11 Tips to Get It Done!
January 4, 2018 No Comments »

If you’ve yet to enter the housing market, but are thinking of buying a home in 2019, there’s a lot you need to know. As I once pointed out, this isn’t your older sibling’s housing market. Not just anyone can ... Read More »

2018 Real Estate and Mortgage Predictions

2018 Real Estate and Mortgage Predictions
December 29, 2017 1 Comment »

Just like that, another year has gone by, well, almost. There are still a few days left and anything can happen. In the meantime, I present my latest installment of real estate and mortgage predictions for the year 2018, which ... Read More »