As a mortgage professional, I meet a lot of folks who are just starting out. They are renters who are on the fence, wondering whether or not purchasing a home makes financial sense. This is a common question which most first time home buyers have, and it is certainly understandable. So when I have this […]

Over the last few weeks, I’ve talked about what a fixed rate mortgage is, what an adjustable rate mortgage is, and how they compare to one another. Today, I would like to discuss a specific mortgage which has gained a lot of media attention over the last few years: the Option ARM. An Option ARM […]

After discussing different options for the type of mortgage a client might want, the conversation will often come back to this question: am I better off with an adjustable rate mortgage or a fixed rate mortgage? And while I would love to be able to definitively answer that question for my customers, the truth is, […]

Last week, I explained what an adjustable rate mortgage is, and when it could be an appropriate product. Today, I plan on explaining what a fixed rate mortgage is, and how fixed rate mortgages work. Fixed rate mortgages have a set interest rate which will not change for the life of the loan. Prevailing interest […]

Making extra principal payments on your mortgage can have a number of benefits – these extra payments can reduce the number of years you are in debt, save you thousands upon thousands of dollars in interest over the life of the loan, and allow you to build equity in your home much more quickly, should […]

A growing trend I have noticed over the last few years is homebuyers looking to go through the process without a realtor. And while you can save some money in fees to the realtor, I personally would not recommend this. A realtor adds a lot more to the home buying process than many prospective homebuyers […]

Many of my clients decide they would like to build their own home rather than buy an older one. If you are considering buying a new construction home, there are a few things to keep in mind, which I have learned from my clients over the year. The first thing to remember is that prices […]

Speculative real estate transactions have become extremely popular again in the last few years. Depressed house values combined with historically low interest rates have created the perfect environment for people looking to flip homes for a profit. But for many, this does not mean buying the house with cash, it instead means getting a mortgage […]

Everybody wants a bigger house. Well, almost everybody – I’m sure there are some billionaires who are happy with their mansions – but for the rest of us, the idea of a bigger house is usually alluring. And with the still depressed prices in much of the market place, and the still low interest rates, […]

Last week, I discussed some of the consequences of the government shutdown on the mortgage industry. Now, 6 days after the government reopened, I am proud to report that the impact has been almost nonexistent. Mortgages continued to close during the shutdown and continue to now. No one lost a home or lost an interest […]