News · Understanding Mortgages

Stated Income Loans, plus Alternative Documentation Loans for 2021

January 1, 2021

Stated income loans are making a comeback — sort of. Extremely popular in the early 2000s, stated income loans were one of the factors of the housing market collapse. Why? […]

Understanding Mortgages

How does a second mortgage work?

December 15, 2020

With a second mortgage, a homeowner can borrow at a very low interest rate, using his or her equity in the home as security.

Understanding Mortgages

Can I Change My Job Prior To Buying A Home? | 2020

November 13, 2020

The short answer is changing jobs can affect your loan approval. From your lender’s perspective, your employment history and income are paramount to your ability to make your payments. That […]

Understanding Mortgages

What’s the difference between interest rate and APR?

November 13, 2020

Understanding Mortgages

Conventional Loan Limits 2021

November 3, 2020

Most conventional mortgages come with caps on the amount you can borrow. These are called “conventional loan limits” or sometimes “conforming loan limits.”

Mortgage Rates · Understanding Mortgages

5 Year Fixed Mortgage Rates and Loan Programs

October 5, 2020

You can create your own 5-year fixed mortgage and own your home outright in five years. Fixed mortgages with shorter terms can create incredible interest savings. But shorter-term mortgages also […]

Home Buying · Understanding Mortgages

How to Write a Letter of Explanation | Template and Examples

September 16, 2020

When you’re asked to write a letter of explanation by a mortgage underwriter, look at this as a valuable opportunity to clearly communicate your situation. The letter of explanation may […]

Cash Out Refinance · Refinance · Understanding Mortgages

What is a Cash Out Refinance?

July 22, 2020

A cash out refinance can put money in your pocket or pay off big debts. Here are some guidelines and things to think about before opening a cash out loan.