Marc Edelstein

As the year comes to an end, I always like to go back and take a look at how my clients have done with the pay it forward promise. This is a program I instituted last year where I donate $50 to a charity of my client’s choice every time he or she does a […]

Until this month, there has been a clear line in the sand for which loan program made the most sense for a specific borrower. Common wisdom dictated that if you had sound credit and at least 20% to put down on a house, you would go with a conventional mortgage because the fee structure was […]

Last week I discussed the 3% down payment Fannie Mae program and how that might impact borrowers. This new program is going to open up a lot of opportunities for homebuyers with good credit and small down payments by allowing them to still qualify for preferred pricing through conventional loans. But in addition to the […]

Have a happy and healthy holiday season this year! I can’t think of a better holiday gift than finding the house of your dreams. If you are in the market for a new house and need some help with a preapproval letter or understanding what you can afford, please contact me. Otherwise, be safe, be […]

As I discussed on Tuesday, Fannie Mae and Freddie Mac have announced they will begin offering 3% down payment conventional mortgage loans. This is a big win for homebuyers, as it opens up a whole new avenue for home purchase for those with small down payments but who are ready and qualified in every other […]

Fannie Mae and Freddie Mac have recently announced that they will begin backing conventional mortgages with as little as 3% down. This puts conventional mortgages into a new arena which they have not been in for almost 5 years, namely, the low down payment space. Until the announcement on Monday, the lowest Fannie and Freddie […]

Whenever I do a mortgage for a client buying a new house, I discuss their options in detail with them. This includes various mortgage programs, such as FHA, conventional, VA, etc.; mortgage terms, such as 15 year fixed, 30 year fixed, 10 year fixed, etc.; and what types of mortgage are available, such as option […]

As the year comes to an end and we enter December, the crunch begins to meet year-end closing deadlines. There are a number of reasons why people want to close by the end of the year, but most of them revolve around taxes. And I find that every year during this first week of December, […]

Happy Thanksgiving to all of my clients, past, present, and future, and to all of my loyal readers. Be safe, be healthy, and try to remember the spirit of the day. If you have any questions about buying a house, obtaining a mortgage, or getting a preapproval letter, please contact me and I will be […]

A concern for anyone buying a house is missing a closing date. This can cost the buyer their earnest money, kill a deal, or leave them without a place to live if they are selling a house and buying a new one. There are dozens of reasons why buyers miss a closing date, but the […]