As I write this in mid February 2018, interest rates are about .5% higher than just a month or so ago. It is impossible to know where they will be 6 months from now but there is more pressure on the upside than the downside. So how much does a mortgage increase when rates rise? […]
Post housing crisis, mortgage underwriting is thorough, overbearing and at times non-nonsensical. Some say it borders on harassment. Gone are the days of “liar loans” and no doc loans and good riddance. However, while underwriters continue to scour every inch of your financial past, lenders are again offering 100% financing and other programs where a […]
You have decided it is time to buy a home of your own. You are confident that your personal situation is such that you are able to keep the home for at least 5 years so the next question is affordability. That is a complicated question particularly in today’s tighter lending environment. Let me give […]
Last month I had two settlements delayed. On both I was representing the seller and both were delayed due to appraisal issues. The appraisal issues were outside the control of the lenders but how they were handled demonstrates why I prefer local, direct lenders. Here are the stories…
