The Mortgage Brothers Show

What type of mortgage is best for me? There’s a lot of options out there, and it can be easy to get overwhelmed. This post is meant to help you navigate the complex world of loan programs when purchasing a home. As always, if you have any questions while reading, feel free to stop and give us a call at (602) 535-2171. We’re happy to answer any questions you have.

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This is a question we get a lot. So, we figured it’d be good to do a podcast and a post to get you oriented when you start trying to sort out how to get a mortgage if you have student loans. As always, feel free to give us a call at (602)-535-2171. You’re more than welcome to skip the post and get right to asking us for help. Let’s dive in.

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An Adjustable Rate Mortgage’s interest rate changes after the fixed period expires. Typically, ARMs are 30-years loans, meaning that you’ll pay back the money you borrowed over the span of 30 years. At the beginning of the loan, you’ll start with a lower rate than average mortgage interest rates. The low rate will stay the same for a period of time, commonly 5, 7, or 10 years. After the fixed-rate period ends, your interest rate will adjust up or down based on an index.

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In this post we explore the pros and cons of locking in an interest rate on your mortgage. Generally speaking, mortgage interest rates are dynamic and unpredictable. They can fluctuate many times between when you file a loan application and when your loan closes. If you want to avoid uncertainty and preserve the rate in your mortgage loan offer, you can get a mortgage interest rate lock. Interest rate locks can offer peace of mind to borrowers, but it’s important to know that there can be consequences and that interest rate locks are not foolproof. In fact, you could miss out on a lower interest rate after you lock and your loan might not close before the lock expires.

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In this post, we cover five ways you can increase how much you can borrow. Prices are high right now, so this is especially helpful for these days. Essentially, what we’re talking about is Debt-to-Income ratio (DTI) and how to lower that to your advantage. The lower your DTI the more mortgage debt you can take on. Now, in some ways, this is sort of the opposite of financial planning since we’re telling you how to take on more debt. We really only suggest doing this if, for example, you’re looking to do something like qualify for a home purchase.

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In this post we explore the difference between APR and Interest rates and how it might affect you as a borrower?

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Today we’ve got an important announcement. So, we just want to get right to it. Conforming loan limits just went up! They’re now at… drumroll… $647,200!READ MORE

In this post, we’re talking about what it means to hold title on a property and some different ways you might hold it. If you want to dig really deep into this, we suggest checking with legal counsel. We’re simply mortgage experts trying to answer some questions. It’s not an exhaustive list, but let’s dig into some common questions and scenarios.

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