$0 down up to $1.2 million
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. That’s because the loan limit hasn’t really changed and that’s because…READ MORE
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. The FHA is really helping a lot of people, especially if they’re on the lower end of the credit score or if they have a higher debt to income ratio.READ MORE
It’s the time of the year when new things start coming out — new cars are announced, new trucks. But for loan guys like us, nothing is quite as exciting as the new loan limits. And they’ve come just in time for Christmas and they open up a whole new arena for borrowers.READ MORE
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.READ MORE
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 VA Interest Rate Reduction Refinance Loan, or IRRRL (pronounced “Earl”). With the VA IRRRL you can get lower payments, reduce your rates, and even change some terms on the loan.READ MORE
So, the short answer is that every mortgage is due on the first of the month. Now, where it gets a little trickier is that there are two different ways to think about if it’s late:READ MORE
Did you know it’s possible to skip two mortgage payments? Well, we’re going to dig into just how you can do that.READ MORE
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. We find there’s time, that when people do, they don’t want to mess around, they want to pay in cash. They have access to it, but it’s not theirs, rather it’s, say, their parents or a family member’s. They know they need to do something with a loan, but they’re not sure how to go about it. So, they reach out to us and we get the question of how to buy a house with a cash offer while simultaneously getting mortgage financing.READ MORE
In this episode, we covered mortgage recasts. 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.
There two common ways of dealing with the new influx of cash: 1) Recasting your mortgage, 2) Paying down on the principal without a recastREAD MORE
You can think of grossing up as extra credit. Now, this isn’t extra money. It doesn’t go into your bank account, but it is an additional amount we can put on paper when it comes to applying for a loan.READ MORE
In this episode, we’re talking about splitting up your mortgage payments. There is a lot of ideas and strategies out there on how to pay off your mortgage early, and one of the top questions we receive is around changing up your once per month payments, and breaking it up into bi-weekly mortgage payments. Does it help? Does it save you money? Let’s dig in break it all down.READ MORE
In this week’s episode, we went over a common question we get asked all the time: How fast can we close on your mortgage loan for a home purchase?
We’ve heard every variation of this: I need it real quick, I heard someone online can do it in a week, I need to buy the house right now.
And we’re not surprised.READ MORE
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. So, let’s just get that right out of the way. It’s not. The difference is not due to any markup or overage. We don’t keep anything.
So, what gives?READ MORE