The days of choosing a mortgage professional based on a personality test and box of donuts in your real estate office is changing. Today with the tightening mortgage guidelines, having a mortgage professional who can review credit, employment, debt to income ratios, calculate assets, document the file and make sure that 2+2= 4 is the [...]
Full Story »Battle of the Home Mortgage Products: FHA vs. Fannie Mae HomePath
Recently I have had several inquiries about a number of special loan programs available. The latest, attractive looking product in the market is the Fannie Mae HomePath loan. Depending on your individual needs, this product could be the right fit. However, compared to FHA, the HomePath loan does have some drawbacks. Here is a comparison [...]
Full Story »A Proven Track Record of Honest Quotes and Personal Integrity:
Have you ever seen the movie “A Few Good Men” (Brown & Reiner, 1992) starring Tom Cruise and Jack Nicholson? Well, if you have not seen this movie I highly recommend, it is truly an American classic. This movie has intense scenes and several of the most memorable movie quotes. Whether or not you agree [...]
Full Story »HUD Halts Abusive Homebuilder Practices
The Housing and Urban Development better known as HUD has finally halted abusive practices by home-builders in which they would revoke huge buyer incentives for not using their preferred/affiliated mortgage company. When a colleague of mine Tom Burris shared this with me, I was jumping up and down in excitement. Over the last 2 years [...]
Full Story »7 Steps to Choosing the Right Mortgage Lender
Step 1: Do a monthly budget: Most of us have no idea how much money we can afford in a payment. By doing a monthly budget, you can see how much money you are willing to spend each month on a mortgage payment and stick to your instincts. One of the first questions I ask [...]
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