“You Have to Get Divorced to Get a Mortgage!”

“You Have to Get Divorced to Get a Mortgage!”

The following came across my social media feed, on one of the mortgage loan originator groups, and I found it amusing: It sparks some obvious questions, the answers to which some might find useful. The most obvious being, “why would someone be told they have to get...
Mortgage Processing Terms

Mortgage Processing Terms

While processing your mortgage, we may from time to time use industry-internal language. We will generally explain what we mean when we use this terms; this is intended to be a reference if your memory is imperfect. Appraisal This is an independent third party...
What are FHA loans?

What are FHA loans?

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your mortgage lender can offer you a better deal. FHA allows a buyer to purchase a home with as little...
No Closing Costs Mortgage Loans & Refinances

No Closing Costs Mortgage Loans & Refinances

Our clients often ask us, “How are you able to offer ZERO closing costs on loan origination?” The answer is simple… We are a small independent shop, and as such have minimal overhead. For example, you will not hear us advertised on the radio, and we...
Investor Debt-to-Income (DTI) Math Primer

Investor Debt-to-Income (DTI) Math Primer

The infamous “debt to income” ratio math is more generous when buying/refinancing non-owner-occupied real estate than owner occupied. If we assume a property with gross rents at $3500/mo and a PITI of $2000, the pure investment property math would have us multiple...
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