The Mortgage Brothers Show

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.

Top 10 Questions about Down Payments

This week, the Mortgage Brothers discuss New Strict Rules for Mortgages During COVID 19. The virus is causing mortgage lending and bank guidelines to continually evolve and tighten down. Banks want to protect themselves from the risks that mortgages inherently have during times of uncertainty. Some borrowers will find it more difficult to get pre-qualified in the current climate compared to before the virus.

Mortgage Insurance? What’s That!?

This week, the Mortgage Brothers discuss New Strict Rules for Mortgages During COVID 19. The virus is causing mortgage lending and bank guidelines to continually evolve and tighten down. Banks want to protect themselves from the risks that mortgages inherently have during times of uncertainty. Some borrowers will find it more difficult to get pre-qualified in the current climate compared to before the virus.

New and Stricter Rules for Mortgages During COVID-19

This week, the Mortgage Brothers discuss New Strict Rules for Mortgages During COVID 19. The virus is causing mortgage lending and bank guidelines to continually evolve and tighten down. Banks want to protect themselves from the risks that mortgages inherently have during times of uncertainty. Some borrowers will find it more difficult to get pre-qualified in the current climate compared to before the virus.

15-Year Fixed Mortgage vs. 30-Year Fixed Mortgage

In this episode, we went over commonly asked questions about 15-year-fixed mortgages versus 30-year-fixed mortgages.

Mortgage Forbearance vs. Mortgage Deferment

In this episode, we discussed forbearance verses mortgage deferment and the CARES Act. We also touch on how this might impact your credit score.

Cash-out Refinance During COVID-19

In this episode, we talked about and answered questions about cash-out refinances in our current COVID-19 market. Right now, we’re still sheltering in place and we’re getting a ton of calls from people about a range of topics, but a lot of them surround the issues posed by COVID-19 and whether they should do a cash-out refinance, if they should pull money out for emergency funds, and about investing.

SBA Loans For Corona Virus Relief: Payment Protection and $10K Economic Injury Disaster Loan

Here we discuss 4 SBA Loans For Corona Virus Relief that are available: the Payment Protection Program, the $10K Economic Injury, Disaster Loan Emergency Advance, and SBA Express Bridge Loans. Keep in mind that 1099 Independent Contractors should be able to apply for the PPP (Payment Protection Program) loan starting April 10th 2020.

CARES Act (COVID-19 bill): How It Affects Home Loans — Mortgage forgiveness or forbearance?

Here we discuss how the CARES Act (signed into law March 30th, 2020) affects homeowners with mortgages. Is the Government going to forgive your mortgage payments? What is mortgage payment forbearance? Can you qualify for mortgage payment forbearance? If so, for how long? There is a lot of misinformation and misinterpretation out there. Here we hope to clear some things up.

Coronavirus: How Mortgages for Refinances and Purchases Have Been Affected

In this episode we discuss how borrowers interested in a refinance and home purchase are affected by the current pandemic.

Mistakes to Avoid When Dealing with Debt Collectors

In this episode we discuss how past due or delinquent accounts can quickly be turned over to a collections department or agency that will then become responsible for collecting the debt. Debt collectors can be intimidating to consumers, especially when their attempts to collect a debt lead to daily calls, emails, letters, and text messages. The idea of facing off with debt collectors can be overwhelming, but knowing what mistakes to avoid when dealing with debt collectors can be beneficial to consumers.

How High Will A Lender Allow Your Deductible To Be?

For a mortgage, how high is your insurance deductible allowed to be? In this podcast, we cover how you can get the lowest premium you can get with the highest deductible. 

Best Tips to Keep Your Credit Utilization Low to Improve Credit Scores

Customers often say to us, “I pay my credit cards off every month.” But when we pull their credit report, we’ll see large balances reported on their credit report and their scores will be lower than they thought. Here we discuss why that happens and the trick to avoid the bureaus reporting a high balance on your credit cards.

How to Refinance Student Loans Into Your Mortgage

We cover how to refinance student loans into a mortgage without it being considered a cash out refinance. Did you know that if you take cash out of your home in a refinance, the interest rate is higher? There is an exception with student loans, but there are some details you need to know.

New VA Loan — No Loan Limits

The VA department has made some exciting changes effective January 1st, 2020. There will be no VA loan limits for borrowers who purchase a home, subject to them having no outstanding used entitlement. This is an incredible opportunity for borrowers who are looking for larger home values.

No Appraisal Needed! — What is an Appraisal Waiver?

If you are getting a conventional loan on a refinance or purchase, you might not need to get an appraisal done on your home…you read that right! About 20% of loans today are receiving ‘Appraisal Waivers’ in the underwriting process. Tom and Eddie Knoell discuss what an appraisal waiver is, how it works in the mortgage process, and the benefits to consumers.

FHA Loan Limit Increased to $331,760 for most Arizona Counties

In Arizona and most of the USA the 2020 FHA loan limits have been increased from $314,827 to $331,760. In this post we dive into how this can help you.

Conventional loan limit in Arizona has just been increased to $510,400

In Arizona and most of the USA the 2020 conventional loan limits have been increased from 484,350 to $510,400. Listen to our podcast to learn why this is great news for Arizona buyers and sellers.

How to Freeze and Unfreeze Credit Reports

Here we cover the easiest, most efficient, and cost effective way to protect your credit from hacks and theft which is to freeze your credit report files. That being said, you don’t want a credit freeze to cause a lot of hassle in your life. We know a lot of borrowers who have had to spend hours on the phone trying to figure out how to unfreeze their credit so that we can pull their credit to get them pre-approved. Don’t let that happen to you […]

How to Count Commissions and Bonuses and Tips

This episode covers how to count commissions and bonuses and tips. Before the highlights, here’s a quick overview. Be sure to read through for the code word […]

Getting a Mortgage with Employment Gaps

This episode covers home loans with gaps in employment. All programs are fine with job gaps less than 30 days. Fannie Mae technically does not have any Job Gap max allowed limit like […]

Parent and Child Co-borrowers: What You Need to Know

Did you know that in certain circumstances a parent can purchase a home for their child without the child being on the loan and we would do the loan as a “primary residence?” Yes, it’s […]

What You Need To Know About Combo Mortgages

Combo Home Loans — What you need to know. Topics covered include: Simultaneous Close, Purchase or Refinance, OR you can do a Pos Closing combo loan, 90% combined loan to value limit […]

Conventional Versus FHA Mortgage. What is best for you?

When buyers start the process of getting pre-qualified, they often hear their loan officer throw out statements like these: “In your case a conventional loan would be best because you […]

How to Navigate A Mortgage After a Divorce

It should be noted that Arizona is a Community Property State (50/50 Ownership). Some advice would be to first, find a good find a good attorney, financial planner, and mortgage broker […]

Buying a home with cash may not be in a Buyer’s best financial interest