Mortgage Applicants Prefer Loan Officers to Online Forms

While a recent survey has found that  the majority homebuyers use on-line resources to research and ascertain information, when it comes to applying for a mortgage loan, most agreed they would rather apply for a mortgage loan directly through an actual loan officer. Huh… can you imagine? In THIS day and age? Seems even while […]

Should I Rent or Buy a House?

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The Rent Race If low mortgage rates weren’t enough to push you toward home buying, the latest rental analysis might be. The trends show that rising rents are causing almost 20 percent of today’s renters to struggle with monthly payments. Plus, it’s not just America’s lower-earning residents who are having trouble keeping up with rents. Those […]

Education Will Ease the Consumer Experience

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Millennial homebuyers will be a key group in the housing and financial markets in the upcoming year and since millennials are more educated about consumer choices than prior generations, they will be seeking more education about the available loan products and the loan process itself. While financial technology is accelerating rapidly and providing new opportunities […]

Guarding Against Identity Theft

Guarding Against Identity Theft  For those of you that are freaked out about the possible dangers from the Equifax breach, please keep reading! A fraud alert allows creditors to get a copy of your credit report as long as they take steps to verify your identity. For example, if you give the bureaus a phone number, […]

The Truth Behind Down Payments

Homeownership might be the most important goal for millennials, according to a recent report by NerdWallet, however, there is some misunderstanding as to how difficult of an obstacle securing a down payment truly is. NerdWallet commissioned an online survey of more than 2,000 U.S. adults conducted by Harris Poll to discover how Americans understand down […]

Pre-Qualification credit pulls & your FICO score

How much will inquiries really affect your FICO score? by Dave Hershman18 Jul 2017 I am confused about how inquiries will affect a FICO score, especially when someone is shopping with multiple lenders for a home loan. Some say there is no real effect. Others say it can have a negative effect. Can you set the […]

It Suddenly May Be Easier To Get A Mortgage!

Two major changes in the mortgage market go into effect this month, and both could help millions more borrowers qualify for a home loan. First, the nation’s three major credit rating agencies Equifax, TransUnion and Experian will drop tax liens and civil judgments from some consumers’ profiles if the information isn’t complete. Specifically, the data […]

The TRUTH about Credit Inquiries & Your FICO Score

How much will inquiries really affect your FICO score?  I am confused about how inquiries will affect a FICO score, especially when someone is shopping with multiple lenders for a home loan. Some say there is no real effect. Others say it can have a negative effect. Can you set the record straight? -Donnie from Nebraska  […]

GSE Low Down Payment Mortgage Program Adjusts Area Median Income

Area median incomes (AMIs) for Fannie Mae and Freddie Mac’s low down-payment mortgage programs have changed recently, and that’s a good thing, according to United Wholesale Mortgage President and CEO Mat Ishbia. Fannie’s HomeReady and Freddie’s Home Possible offer low down payment mortgages for low- to moderate-income borrowers. AMIs establish income eligibility standards for those […]