New mortgage rules = Co-signer required!
Broker vs. Bank / Credit / Debts / Documents / First Time Home Buyer / Income / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Rules / Uncategorized

New mortgage rules = Co-signer required!

Recently, we have noticed an increase in the number of inquiries about co-signing a mortgage. So, the question is, what exactly does it mean to be a co-signer? And why are we being asked this question so often? We say due to significant government mandated rule changes to mortgages and there have been quite a … Continue reading

Mortgage due for renewal soon? Do you stay or do you go?
Broker vs. Bank / Credit / Documents / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Qualifying / Refinance / Rules / Stress Test / Uncategorized

Mortgage due for renewal soon? Do you stay or do you go?

The days are gone where homeowners would commit for life to only one mortgage lender. If your mortgage is due for renewal soon, you may want to start thinking about what you’re going to do when your mortgage term ends. While you could renew with your current lender, you may be missing out on potential mortgage interest savings or better … Continue reading

Helpful hints on how to save for a down payment to buy a home
Broker vs. Bank / closing costs / Credit / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules / Stress Test / Uncategorized

Helpful hints on how to save for a down payment to buy a home

As a mortgage broker for the last 15 years and 20 years before that as a banker, I have heard from many people over the years who say they are tired of renting. A common statement is “I can easily make a mortgage payment because I am paying at least that amount in rent but … Continue reading

YIKES!!!! Do I stay in a variable rate mortgage or convert into a fixed rate term before the rates go up even higher????
Broker vs. Bank / Credit / Documents / Lenders / mortgage / Mortgage Renewal / mortgage rule changes / prime rate / Qualifying / Rates & Terms / Stress Test / Uncategorized / Variable Interest Rates

YIKES!!!! Do I stay in a variable rate mortgage or convert into a fixed rate term before the rates go up even higher????

Definition of a decision- A choice made between alternative courses of action in a situation of uncertainty. Even with 35 years of mortgage experience, I am confused as to how to answer this question because the economists seem to all have different opinions about what is going to happen with the rates and let’s face … Continue reading

Now, more than ever, you need a Mortgage Broker on speed dial!
Broker vs. Bank / Credit / Debts / Documents / Downpayment / First Time Home Buyer / Helpful Tools / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

Now, more than ever, you need a Mortgage Broker on speed dial!

Whether you’re looking to buy your first home or refinancing your rental property, the mortgage landscape is far different than it used to be due to all of the mortgage changes. Based on many years of mortgage underwriting experience while working with the banks for 20 years and as a Mortgage Broker for the last … Continue reading

Should I lock my variable rate mortgage in now?
Broker vs. Bank / Market Updates / mortgage / Mortgage Renewal / Pre-Approvals / prime rate / Purchase / Qualifying / Rates & Terms / Uncategorized

Should I lock my variable rate mortgage in now?

I can’t believe how many of my clients have asked me this question over the past few weeks due to the recent increases in both the fixed and variable rates. With a fixed rate mortgage term, the mortgage rate and payment you make each month will stay the same for the term of your mortgage. … Continue reading

If you are thinking about refinancing to access your home equity, DO IT NOW!!!!!
Credit / Income / Lenders / Market Updates / mortgage / Mortgage Renewal / mortgage rule changes / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rules / Uncategorized

If you are thinking about refinancing to access your home equity, DO IT NOW!!!!!

I apologize for so many exclamation points, but I needed to get your attention if you are sitting on the fence about whether you want to refinance your home in the near future. After three recent mortgage rule changes along with back-to-back interest rate increases with a possible third expected, there is another PROPOSED rule … Continue reading