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Category: Q&A

Mortgage Life Insurance or Private Mortgage Insurance – Which is Better?

Q&A

Mortgage Life Insurance or Private Mortgage Insurance – Which is Better?

November 15, 2022

Question: What is “mortgage life insurance” and why do I need it when I already have private mortgage insurance? Answer: Private mortgage insurance and mortgage life insurance are two very […]

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father-and-daughters-sitting-in-back-of-car-outside-house

Q&A

Should You Buy or Lease a Car Before Applying For a Mortgage?

July 24, 2022

The typical new car loan costs $648 per month, while the average new lease costs $522 per month, according to an Experian report from the first quarter of 2022. Since […]

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Pros and Cons of First-Time Home Buyer Loans

Q&A

How Can I Quickly Cut My Mortgage Debt?

May 1, 2022

Question: Rates have risen since I got a mortgage so I don’t want to refinance. What’s the quickest and easiest way to knock down my mortgage balance and owe less […]

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How Do I Remove PMI On My Conventional Loan_

Q&A

Is Mortgage Insurance Overpriced?

January 1, 2022

Question: We want to buy our first house with FHA financing, but the cost of mortgage insurance is shocking. Don’t you agree that the cost of interest and FHA mortgage […]

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Couple moving boxes into a new home

Q&A

Can I Buy Real Estate With A Friend?

January 1, 2022

Question: My boyfriend and I would like to buy a small house. Will lenders have extra requirements for us because we’re not married? Answer: According to the Consumer Financial Protection […]

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Average Down Payment on a House

Q&A

How Long Must I Be Self-Employed To Get A Mortgage?

January 1, 2022

Question: The company where I worked for eight years closed several months ago and as a result, I lost my job. As an alternative to seeking another position, I decided […]

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Happy Middle Eastern Family With Little Daughter Holding Home Keys

Q&A

How Compensating Factors Can Lead To Mortgage Success

January 1, 2022

Question: We want to apply for a mortgage but are worried we don’t have enough income. A loan officer told us we might have extra borrowing power as a result […]

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How to Make a Down Payment for a Second Home

Q&A

Seller Financing Versus Lender Mortgage: Which Is Better?

January 1, 2022

Question: We placed our home for sale and now an offer has come in: The buyer wants a seller-financed transaction, one where we would take back the mortgage. What are […]

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brick-brownstone-with-trees-and-bicycle-on-sidewalk

Niche Mortgage Products · Q&A

Can You Get A 40-year Mortgage?

October 28, 2019

Longer term financing is still available, despite falling out of favor after the housing crash 10 years ago. But, finding a lender that offers a 40-year mortgage lender can be […]

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Calculating your mortgage insurance

Q&A

What Do Lenders Count As Mortgage Income?

October 15, 2018

Question: What is mortgage income? I want to apply for a mortgage but worry that much of my income will not be counted. I receive child support plus much of my […]

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