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Is Your Credit Score Good Enough to Buy a Home?
Be armed with the right knowledge when starting your home search. Find out how important your credit score is to your next home loan.
Does an 800 credit score actually give you a better mortgage interest rate?
In this post, we’re going to be discussing how your credit score actually impacts your mortgage interest rate.
How Does My Car Loan Payment Affect My Mortgage?
In this post, we’re talking about car payments and how they affect mortgages. As loan officers, we’re in the business of trying to calculate how much a person qualifies for or not. Because car payments are such an everyday part of life for so many people, we wanted to give a brief rundown of how your car payments might be affecting your mortgage purchasing power.
How To Calculate How Much PMI Mortgage Insurance will be?
In this episode, we’re talking about PMI. What does PMI stand for? PMI stands for Private Mortgage Insurance. These come into play with conventional loans. When you have a conventional loan, that is it’s private, non-governmental, this is the insurance that covers these loans.
10% Down Jumbo Loans -Are they available? Yes they are, in this episode we discuss the details
This post is about jumbo financing, in particular big loans with just about 10% down. A lot of banks have been saying no to these with COVID, but right now some banks are starting to offer them again, which is fantastic news.
If I have 1 Mortgage Late in the Past 12 Months, Can I Get Approved for a Mortgage?
This is a question we get quite a lot. A buyer will call up and say, “Hey Mortgage Brothers, I’ve been working for this company in Virginia for years. I’ve been remote, but I’ve got family in Arizona and I’m thinking of moving. Can I actually move to Arizona and work there? And can I get a mortgage?”
Can I Relocate and Get a Mortgage While Working Remotely Out of State?
This is a question we get quite a lot. A buyer will call up and say, “Hey Mortgage Brothers, I’ve been working for this company in Virginia for years. I’ve been remote, but I’ve got family in Arizona and I’m thinking of moving. Can I actually move to Arizona and work there? And can I get a mortgage?”
Interest Rates Are Going Up for 2nd Homes and Investment Properties
Interest rates for second homes and investment properties are going up. In the last couple of weeks, the big agencies, Fannie Mae and Freddie Mac, basically said that they don’t want to have more than 7% of their whole pool of loans to consist of second homes and investment properties.
What are Closing Costs on a Home Purchase?
This week we are talking about closing costs on purchases and how to understand them. In this episode we cover; What are closing costs? What are the typical average closing costs when it comes to a home purchase? How much are they?
What are Closing Costs When You Refinance Your home?
Today we are covering closing costs in relation to refinances. There’s a lot of confusion as to what closing costs are, especially when it comes to getting the prepaids right, and how much they usually cost.
How Much Home Can You Afford VS How Much Home Should You Buy?
In this podcast we’re answering the question “how much can we qualify for?”
When Refinancing Is It Better To Roll In Closing Costs Or Pay Them At Closing?
In this post, we’re going to dig into a question we get a lot: Is it better for me to pay my closing costs upfront or roll them all into the loan?
When is a good time to refinance your home and pay off credit cards, personal loans, and home equity lines (HELOCs)?
There’s a whole industry built on trying to help people through bankruptcies and debt consolidation. They have a whole strategy to take all your debt bundled together and help you renegotiate payments. But we’re talking about something …
Are Mortgage Escrow Accounts Good or Bad?
Sometimes we’ll get borrowers calling us up asking about escrow accounts and waivers, so we figured we’d dig in a bit and help people get oriented. First off, escrow refers to an arrangement in which a third party …
Can I Get a 3rd Mortgage?
Sometimes it’s: How many mortgages can I get on my home? or How many can you just stack? Oftentimes, it’s people simply wondering if they can get another line of credit. They’re thinking of it that way rather than as in terms of positions …
FHA loan limit update for 2021
This coming year brings some great news when it comes to FHA loans. The limit’s gone up for 2021 and a whole new potential bucket has opened up for interested buyers.
Conventional loan limit update for 2021
So, what’s the 2021 Conventional Loan Limit?
Qualifying for the right loan can make or break your ability to get the house of your dreams.
VA loan limit update for 2021
Today we are talking about VA home loan limits for 2021.
Part of this is reminding people of the VA home loan change that happened in 2020.
What Are Mortgage Trigger Leads? Why Are Strangers Calling Your phone?
Today we’re talking about trigger leads. We’re going to cover what they are and how to avoid getting annoying phone calls after applying for a mortgage.
Attention Veterans – VA IRRRL Streamline Refinances are at extremely low rates!
Interest rates are low right now and it’s a great time to refinance if you’re a veteran. If you have a VA loan , you can do a streamlined …
When is a mortgage payment actually considered late?
This question can seem straightforward, but in certain scenarios it can be a little tricky. Let’s break it all down …
How to Skip 2 Payments On Your Mortgage?
Did you know it’s possible to skip two mortgage payments? Well, we’re going to dig into just how you can do that. A few things you should know …
Buying a House with a Cash Offer and Simultaneously getting Mortgage Financing
Sometimes a borrower feels that the only way they can win a house is to pay cash for it. They’ve been beaten before. They’d found their perfect home, but they just couldn’t compete. Most times you’ll find that dream house again …
What is an Example of a Mortgage Recast?
Normally, this question comes up when a borrower has newly come into a lump sum of money, be it from a recent inheritance, a bonus, or through selling a house, and are interested in a principal reduction …
Grossing Up Your Income… what does that mean?
Buying a house is more often than not one of the biggest purchases you will ever make in your life and it’s perfectly natural to be excited. But we want to make sure that you understand a realistic timeline of these things so you can make sure you can get the best loan you possibly can …
Do Bi-Weekly Mortgage Payments Save You Money?
Buying a house is more often than not one of the biggest purchases you will ever make in your life and it’s perfectly natural to be excited. But we want to make sure that you understand a realistic timeline of these things so you can make sure you can get the best loan you possibly can …
How Fast is Too Fast to Close a Mortgage Loan to Purchase a House?
Buying a house is more often than not one of the biggest purchases you will ever make in your life and it’s perfectly natural to be excited. But we want to make sure that you understand a realistic timeline of these things so you can make sure you can get the best loan you possibly can …
Why Is My Mortgage Payoff Higher Than My Mortgage Statement Balance?
Why Is My Mortgage Payoff Higher Than My Mortgage Statement Balance? One question we get a lot of the time is why is my mortgage payoff higher than my mortgage statement balance? Why is it higher than I thought? Some people have asked us if part of this balance is a markup or overage on our behalf …
Which Is Better? Mortgage Broker or Bank?
What is the difference between a mortgage broker and a mortgage banker? What are you? Are you a banker or are you a broker that is the question. In this episode of the mortgage brothers podcast we discuss the pros and cons of going with a mortgage banker vs a mortgage broker …
Mini Cashout Refinance: What You Need To Know
Getting a Mortgage During a Job Transition
The Mortgage Brothers Show Getting a Mortgage During a Job Transition PODCAST HIGHLIGHTS In this …
Is The Mortgage Interest Tax Deduction Really a Big Deal?
The Mortgage Brothers Show Watch this video on YouTube Is The Mortgage Interest Tax Deduction …
How to Purchase or Refinance While You’re in COVID Forbearance
The Mortgage Brothers Show How to Purchase or Refinance While You’re in COVID Forbearance PODCAST …
Is Real Estate The Best Way To Build Wealth?
In this episode of “The Mortgage Brothers Show” we answer the question that people ask not only us – but their friends, their relatives, themselves, their spouses, etc; “Is real estate the best way to build wealth?” We’ll break down the 5 main advantages of real estate investing, from real estate investment loans to using 401k money towards a home purchase.
Should You Use 401k Funds To Purchase A Home
In this episode, we work through one of the most common questions we get: should you use 401k funds to purchase a home. It’s a touchy subject, so we decided to breakdown a scenario for you and compare side by side the returns in real estate vs. your 401k.
Second Home Mortgage vs. Investment Property Mortgage. What’s the difference?
In this episode, as we often do, we talked about mortgages. There are two different types of financing we do outside of that for primary residences — second homes and investment properties. For the full story, be sure to listen to the full podcast above or on Apple Podcasts. For now, let’s get into the overview.