This is another one of those questions which many of my clients, especially first time home buyers, ask during an initial conversation. There are many reasons why clients ask this, but it usually has to do with either limited funds to put down or a desire to attract the best mortgage terms. And any time […]

  A rate lock, or lock in, is a guarantee of a rate by a lender for a set period of time. This protects you during the loan process from interest rates going up, which could ultimately cost you more money at closing, cost you more money monthly in the monthly payment, or in a […]

After my post last week on letters of explanation, which I explained are a common stipulation for a mortgage, I was surprised by the feedback from some readers of my blog who asked, “What is a stipulation?” And while I explain the mortgage process in detail to my clients, I realized that if you are […]

As you move through the mortgage process, you will eventually reach a point where the underwriter begins to ask you for supporting documentation to clarify something which is not 100% clear. These requests, known as stipulations, or “stips,” allow the underwriter to make a final decision on whether or not to approve the file. These […]

I have spoken several times in the past about this topic, but I feel it is an important topic to revisit, especially in the new year. I find many of my clients, especially first time home buyers, have some vague notion of what a “preapproval” is, but they do not know what is required to […]

For the last month or so, I have been writing about the upcoming changes to the mortgage industry due to the Dodd-Frank legislation which was passed a few years ago. Tomorrow, the next round of changes go into effect, and they will have some pretty major consequences on a select subset of borrowers; namely, those […]

It is pretty common knowledge that the spring is the best time of year to list a house for sale. As the weather clears up, your home will show better. Buyers start coming out of their winter hibernation. And if others are listing their houses for sale, it means there will be more potential buyers […]

My Pay it Forward Promise is one of the things I am most proud of as a mortgage professional. Each time a mortgage is financed through me, I donate $50 to the charity of the borrower’s choice. And while $50 does not seem like a lot, the results are pretty nice by the end of […]

Happy New Year from me and my team. Whatever your plans tonight, please stay safe and enjoy yourself. As we look to next year, there are many great things on the horizon for the mortgage industry, especially here in Michigan. For more information on these changes, check out my blog in the new year or […]

Another year is coming to a close. It has been an incredible one for me and my parent company, Ross Mortgage. As the next week closes out, I look forward to sharing your Pay it Forward results. I feel truly blessed to work with the incredible staff and clients with whom I work, and want […]