Thou Shalt In Mortgage Lending

Thou Shalt

Becoming a homeowner is the American Dream!  And, because homeownership is of monumental importance in your life “thou shalt” remember these ten things to optimize your home buying experience: Thou Shalt Enjoy the Home Loan Process! Mortgage lenders generally offer the same rates and fees. They all have access to the same bag of money…. [Read More]

Mortgage Underwriting Explained

Mortgage Underwriting Explained

Mortgage underwriting is easily explained.  In essence, mortgage underwriting is logic based and supporting documentation is required.  While, mortgage underwriters play a key role in moving your home loan from Application to Clear to Close- so do YOU!  To ensure that you have a smooth home buying experience here are some common mortgage underwriting problems and how… [Read More]

FLOOD INSURANCE

flooded home

Flood Zone Determinations Every property is in a flood zone. It is the flood hazard area designation that drives whether or not flood insurance will be required to get a mortgage. If your property is in Flood Zone X,  flood insurance will not be required. Flood hazard areas identified on the Flood Insurance Rate Map… [Read More]

Understanding A Real Estate Purchase Agreement

Purchase Agreement Drives the Loan Process

A purchase agreement is an essential step in the real estate process.  The purchase agreement outlines prices and terms for a real estate transaction.  The goal of the purchase agreement is to protect the buyer and to ensure that all expectations are clear and understood. While purchase agreements can vary from place to place, the one constant… [Read More]

Can’t They Just Trust Me? You Want More Documents?

home made of paper

Can’t They Just Trust Me? You Want More Documents? I promise to pay my mortgage back. Why do they keep asking for more documents? In the early 2000s that is exactly what the mortgage industry did- big trust and few documents. As a result, the American Dream of homeownership was realized by a record number of people. … [Read More]