VA Home Loan – Mortgage Confession
VA Home Loan Are you familiar with the VA Home Loan Guaranty Program? I was shocked to discover (from a recent VA survey) that 1 out of 3 Veterans are not familiar with it. Only available to U.S. Veterans, the Federal Loan offers many benefits, including: No Down Payment Required! (100% Financing for Eligible Veterans) Favorable […]
What is Debt to Income Ratio? (DTI) – How much House can I afford Series
How Much House Can I Afford? – Home Affordability Series What is Debt to Income Ratio? (DTI) The Summary: Debt to Income Ratio is your monthly debt payments divided by your gross monthly income (expressed as a %). In the case of a home purchase, you would also include your new proposed monthly housing payment […]
FHA Loan Limits MN 2016 – Updated!
FHA Loan Limits MN FHA loan limits are one of the FHA Loan Requirements. Related: Low Down Payment Mortgage Options – Conventional vs. FHA 2016 showed an increase in the Twin Cities Metro area for Single Family Homes, Duplexes, Triplexes, and Fourplexes. Median Home Sales Prices have increased in 2016 for Minneapolis and Saint Paul […]
Loan Officer – Home Loans
Loan Officer? Loan Officer used to be the most popular job title for a person that originates home loans. There was a problem though, each loan officer chose their job title (or the Mortgage Company chose for them). Common ‘Loan Officer’ job titles were: Loan Officer (Most Popular) Mortgage Loan Officer (Helpful to know they work with […]
Mortgage Rates Forecast – Increasing?
Breaking Mortgage News: Mortgage Rates Forecast – Increasing? Are Mortgage Rates Going Up? Mortgage Rates Forecast: The Federal Reserve has officially laid out plans to increase mortgage rates. If you’ve been on the fence about refinancing or buying a house, you may want to get off the fence before mortgage rates increase as soon as […]
Published – Low Down Payment Mortgage
Mortgage Article Published – Low Down Payment Mortgage Options Another of our home mortgage news articles have been published. Originally from our “Low Down Payment Mortgage Options” articles, it was revised and published in Angie’s List. Check it out below:
Happy Veterans Day – Honoring all Veterans
Today, we honor all Veterans, for protecting us, our rights, our lives, and our freedom. Those that served in the past, those serving us now, and future Veterans that continue to protect our Freedom. We are thankful to live in a country that we have been given certain rights. Unfortunately, many of those rights did, […]
Need a Home Loan? Increase Your Chances
Buying a house? Need a Home Loan? READ THIS FIRST Imagine for a moment, that you’re selling a home. You’re excited because you just received 5 offers! All the terms of the offer are *almost* the same except how the buyer is asking to purchase your home. Here’s a summary of their qualifications: Buyer #1: […]
Home Prices vs Pay, Rent, Mortgages -NYT
For those that enjoy graphs and charts, it’s interesting to see the comparison of home prices, worker’s pay, rents, inflation, and mortgage payments. The housing market in much of the nation seems to be in a Goldilocks moment, neither too hot nor too cold, with low mortgage rates an added bonus. Source: After an Era […]
Free Credit Report – Annual Credit Report
Free Annual Credit Report UPDATE REGARDING YOUR FREE CREDIT REPORT: During these times of COVID-19, accessing your credit is important. That’s why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021. Step 1 of How to Buy a House is to check your credit. But, even if you’re not buying […]
What is TRID? CFPB TRID?
TRID – TILA RESPA Integrated Disclosure The new mortgage rules from the Consumer Finance Protection Board (CFPB) encompasses a lot of mortgage disclosure changes. TRID is the given name for those changes – an abbreviation for TILA RESPA Integrated Disclosure. Since there are so many changes with the new mortgage rules, we’ve written more than one […]
TIP Now Required Mortgage – Total Interest Percentage
FOR IMMEDIATE RELEASE A TIP IS NOW REQUIRED WITH YOUR HOME MORTGAGE LOAN Minneapolis, MN, October 3, 2015 – Effective immediately, by consumer demand, a TIP is now required when you obtain a home mortgage loan. Borrowers knew that obtaining a home mortgage loan was expensive, but effective October 3rd, 2015 – the cost is […]