Blog Archives

New Qualified Mortgage Rules

New Qualified Mortgage Rules

On January 10th 2014 mortgage rules changed in a big way due to the Dodd Frank Wall Street Reform and Consumer Protection Act going into effect.  This act affects both homeowners who want to refinance, as well as anyone looking to purchase a home.   While there are several new rules being implemented, there is one that will by far have the biggest impact on consumers.     Read the rest of this entry

Home Loan Programs Part II

Home Loan Programs Part II

Last week I discussed the importance of being informed on what loan programs there are available when shopping for a home loan.  This is so that you can be best aligned with the right program for your circumstances.  This week I am going to continue that discussion and talk about a few non-conventional programs.  Below are just some of the non-conventional programs that are available to consumers. Read the rest of this entry

Home Loan Programs Part I

Home Loan Programs Part I

When shopping for a home loan it can be challenging to understand all the different home loan programs there are to choose from.  Having a thorough understanding to what there is to offer is vital to making sure that you are aligned with the best program for your circumstances.  Below are just some of the conventional conforming and non-conforming programs that are available to consumers.  Read the rest of this entry

Mortgage Terms & Definitions Part II

Mortgage Terms & Definitions Part II

As mentioned in last weeks blog, understanding certain mortgage terms can be very important and beneficial when entering in the process of getting a home mortgage.  So this week I will expand further into essential requisites that everyone needs to know from day one. Read the rest of this entry

How Much Home Can You Afford?!

How Much Home Can You Afford?

Among the most common questions from a home buyer is “How much home can I afford?” The answer, however, like many things, is that “it depends”. There are no concrete rules for how much home you can afford, or how big your mortgage should be. This is because the way that a mortgage lender calculates your maximum purchase price will be different from how you would calculate it yourself. Let’s look at both approaches to home affordability. Read the rest of this entry