Blog Archives

Mortgage Terms & Definitions

For some, it can be a daunting feeling when it becomes time to start the mortgage process.  There are many terms that can be used that wouldn’t be common to the average person.  Below is a list of these terms that one might encounter when going through the mortgage process. Read the rest of this entry

The No Closing Cost Mortgage – Part II

The No Closing Cost Mortgage

PART II

Mortgage Warehouse offers a very popular no closing cost option on many of our loan programs. Many banks offer a “no point” mortgage where they don’t charge fees, however the borrower still must pay for some items such as title search and appraisal fees. With our true no closing cost mortgage, the borrower pays no closing costs period! Read the rest of this entry

The No Closing Cost Mortgage

The No Closing Cost Mortgage

PART I

Mortgage Warehouse offers a very popular no closing cost option on many of our loan programs. Many banks offer a “no point” mortgage where they don’t charge fees, however the borrower still must pay for some items such as title search and appraisal fees. With our true no closing cost mortgage, the borrower pays no closing costs period! Read the rest of this entry

Foundations of the Mortgage Industry (Part II)

Foundations of the Mortgage Industry (Part II)

There are two markets that structure the mortgage industry.

  1. The primary market:  Where loans are originated.  This consists of Brokers, Mortgage Loan Officers, Banks, Credit Unions and Thrifts.
  2. The secondary market:  Where loans are sold.  This consists of Fannie Mae (FNMA), Freddie Mac (FHLMC), Ginnie Mae (GNMA), Wall Street, and wholesale line of credit accounts.  Interesting to note, FHA, VA, and USDA are in neither market.  Read the rest of this entry

What Is Your Credit All About? – Part II

What Is Your Credit All About? – Part II

 Last week we discussed the importance of having a good credit score.  This week I am going to discuss something that a lot of people don’t consider that also affects your credit sore and that is something called inquiries.  Every time you allow someone to pull your credit report, you are adding another inquiry to your report.  These inquires remain for 120 days and can have negative implications.  Read the rest of this entry