Buying a home is an exciting and somewhat daunting decision. Many people get used to the idea of paying rent, not realizing that there are programs available to help them buy a home and put that rent money into an investment, rather than watch it disappear. If you are a first-time home buyer, you can Read More…
Mortgage Tips & Trends
How Bank Statements Loans Can Get You Your Desired Home Mortgage
Sandra has always been very independent. From a young age, she found creative ways to earn money, from lemonade stands to shining her father’s shoes. Her latest venture was an RV Car Wash. She saw a need for this as RV’s are becoming an even more popular way of life and travel, especially in the Read More…
The #1 Reason Deals Fall Out Of Escrow
The number one reason that real estate deals fall out of escrow is because of the loan. Most loan officers, banks and mortgage bankers have a limited set of products that fit into a small stringent box. If your a real estate agent that can’t get your buyer qualified from the get-go or if you have Read More…
Bypassing The Big Banks for a Home Loan
When it comes to securing a home loan, every “big bank” has a set of criteria they use to discern whether or not to award a loan: A DTI (debt-to-income ratio) of 43% or less A 20% down payment A 720+ credit score 6, 9,12 or 18 months of assets/reserves 4 to 7 years removed Read More…
What Freelancers Need to Know About Getting a Mortgage
Getting a mortgage and looking for a new home is always a difficult process, especially when you’re self-employed or tend to work on a contract-to-contract basis. Luckily, your search for a mortgage doesn’t have to become a separate ordeal as long as you utilize this checklist to get your ducks in a row before speaking Read More…
Breaking: Real Estate Inventory Low
America’s luxury home market is facing an inventory shortage but it’s not as deep or severe as the one in the wider housing market. Redfin says that inventory of homes priced $1 million or more was down 20.4% in the first quarter of 2018 compared to a year earlier, pushing prices in the luxury sector Read More…
Millennials Continue to Shake Housing Market
Millennials Leading the Way Millennials are increasingly entering the housing market as first-time buyers and are expected to lead the growth in new home buyers too, the National Association of Home Builders reports from its analysis of Census data. The overall homeownership rate of millennials is at 36 percent, which is the largest gains among all Read More…
What is motivating millennials to purchase their first home?
As it turns out, millennials do want to own a home, and it’s just for a different reason than we think. A recent survey conducted by Harris Poll found that 33 percent of millennials say their dog motivated the purchase of their first home. They want to create a better life for their furry friend Read More…
Why the mortgage business will never go 100% digital
So you’ve found your dream house. Now, where do you go for a home loan? Do you go with the lender your real estate agent recommends? They have just as much riding on this, so they should only refer you to the best in the business. Right? Or do you listen to Mom and Dad’s Read More…
Student Loan “Cash-Out Refinance”
The new changes Fannie has put into place will waive the increased fees & higher interest rates associated with “traditional cash out” refinance transactions. Mortgage Lenders (including Griffin Funding) have changed how student debt is calculated by accepting the student loan re-payment amount listed on the clients credit report. Previously, lenders were required to factor in 1% of Read More…
