Q&A

What Are the Pros and Cons of Financing with 20 Percent Down?

December 11, 2017

Question: We are first-time home buyers and would like to finance with 20 percent down. Some of our friends say we should buy with less up front and now we’re […]

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Q&A

When the Fed Raises Rates Will Mortgage Rates Rise, Too?

November 6, 2017

Question: Many believe the Federal Reserve will raise interest rates in December. Doesn’t that mean we should expect mortgage rates to rise later this year? Answer: The Federal Reserve has […]

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Q&A

How Much Will I Save Per Year With Bi-Weekly Mortgage Payments?

October 25, 2017

Question: We have been approached by a company that offers a bi-weekly mortgage plan. Our question is very simple: how much will we save on average per year? Answer: This […]

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Q&A

Whatever Happened To Mortgages With One Percent Down?

September 11, 2017

  Question: I’ve been reading about a new bunch of mortgages with one percent down but now my lender says they’re gone. Where did they go? Answer: In the eternal […]

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Home Buying · Q&A

Will Overlays Undermine My Mortgage Application?

August 9, 2017

  Question: We’re interested in buying a small house and our lender says we may face overlays? What’s an overlay? Answer: We usually think of the lending process as moving […]

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Q&A

Seller Financing Versus Lender Mortgage: Which Is Better?

July 10, 2017

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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Q&A

How Compensating Factors Can Lead To Mortgage Success

June 26, 2017

  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 […]

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Q&A

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

June 12, 2017

  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 […]

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Q&A

How Can I Quickly Cut My Mortgage Debt?

May 22, 2017

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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Q&A

Can I Buy Real Estate With A Friend?

May 15, 2017

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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  Mortgage expert Tim Lucas has been helping home owners for over 12 years.

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