Mortgage Tips

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

Predatory Lending Q & A

June 19, 2007 No Comments »

I did a recent interview regarding predatory lending. I thought I’d share it here to offer a better insight as to what predatory lending is, and how it can affect you and your family. 1. How would you define predatory ... Read More »

Historical Conforming Loan Limits

April 21, 2007 No Comments »

For those who are unaware, conforming mortgages are loans that fall within the guidelines of Fannie Mae and Freddie Mac, the two largest financiers of home loans in the United States. Conforming loans typically have the lowest mortgage rates, but ... Read More »

Portfolio Loans: A Solution for Hard to Close Mortgage Deals

April 12, 2007 No Comments »

If you’re having a tough time getting home loan financing using a mortgage broker or a local mortgage lender, consider contacting a portfolio lender directly to close your mortgage. They can offer solutions that others cannot, and may have just ... Read More »

Stated Income Loans Becoming Increasingly Difficult

April 11, 2007 No Comments »

Looks like the part is coming to an end; stated income loans, which dominated the mortgage market throughout the housing boom, are now being examined much more closely by underwriters amid the current mortgage crisis. Stated income, also known as ... Read More »

Fixed Mortgage Rates Pricing Lower than ARMs

April 10, 2007 No Comments »

When applying for a mortgage, be sure to look at all the available loan programs and their corresponding mortgage rates. Typically, fixed-rate mortgages come at a premium to adjustable-rate mortgages because of their perceived stability, but nowadays many investors are ... Read More »

What Not to Buy: Mortgage Stocks

March 10, 2007 No Comments »

A month after Wall Street battered subprime mortgage companies and the sector as a whole, some investors are beginning at look for bargains at the beleaguered companies who have managed to stay afloat. But the problems we’re seeing are merely ... Read More »

A List of Mortgage Closures, Mergers and Layoffs

A List of Mortgage Closures, Mergers and Layoffs
February 21, 2007 30 Comments »

I first created this list in February 2007, back when scores of mortgage companies were consolidating, laying off employees, sending out scary warnings, and going out of business. Around that time, some 2.33% of all U.S. mortgages were delinquent, a ... Read More »

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 »