You may hear many mortgage bankers advertise they have in-house underwriting and fund their own loans which gives them an advantage in getting your loan approved and funded. FAKE NEWS. Bankers promote these services as something special, but, it is not special to have your loan underwritten and funded on time. This should be...
Tag: #MortgageBroker
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ARE YOU CONSIDERING AN EARLY PAY-OFF?
Some loans may have a pre-payment penalty in the event you pay off the loan early. You probably won’t see these on conventional or government residential loans, but you may see them on other residential loan products and on commercial loans; the penalty is a certain percentage of the loan amount. Example: You...
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ANOTHER LENDER TO WHOM WE CAN BROKER – FIRST NATIONAL BANK OF AMERICA
As a mortgage broker, we can broker loans to many different lenders. Here we feature First National Bank of America. They offer vacant land loans, which can be hard to find today. They also lend on both single-wide and double-wide manufactured homes. Here is another example of a lender that offers loans that...
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ARE YOU INVESTING IN A PRIMARY, SECONDARY OR VACATION HOME?
Are you looking to invest in a primary, secondary or vacation home in Arizona, California, Hawaii or Illinois? We are licensed and broker loans in these states. Why is it beneficial to work with a mortgage broker licensed in multiple states? Example: We can help you refinance and take cash out of your Illinois home...
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ANOTHER LENDER TO WHOM WE CAN BROKER: VELOCITY MORTGAGE CAPITAL
In addition to residential loans, we broker commercial loans. One lender we can broker commercial loans to is Velocity Mortgage Capital. They lend on 1-4 unit, multi-family, mixed use, and commercial real estate. They are an asset based lender. They work with investors and business owners. They will consider the experience of the investor,...
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CONTINUING ON THE ROAD TO WHERE?
Nothing new to see here! As widely predicted, this afternoon the Fed raised the fed funds rate another quarter of a point, now to a range of 4.5 – 4.75%. This will take the prime rate tomorrow to 7.75%. Perhaps as importantly, this puts the Fed within ½ to ¾ % of what is widely...
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PHISHING
Phishing seems to be a trend today. We receive many emails which appear to be related to our clients or transactions we have in process. But, unless we recognize the sender, we do not open them. Phishing is defined by the Oxford Language Dictionary as “the fraudulent practice of sending emails or other messages...
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AGE IS NOT A QUALIFYING FACTOR WHEN APPLYING FOR A MORTGAGE LOAN
You’re never too old, age is not a factor when applying for a mortgage loan. Lenders cannot discriminate based on age. So, even if you are 100 years old, and can qualify for the payment, you can get a 30-year mortgage.
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ANOTHER LENDER TO WHOM WE CAN BROKER – UNITED FARM MORTGAGE
United Farm Mortgage has a great niche in the marketplace. They can lend on anything agricultural, such as horse farms and boutique vineyards, and can lend on rural land. There are not many lenders who provide this type of financing. Just another reason to work with a mortgage broker, who has access to these...
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CAN YOU QUALIFY FOR A MORTGAGE LOAN WITH A FIXED INCOME?
The answer is Yes! Do you receive social security income, disability income, pension, annuity, or some other type of fixed income payment? Do you have money saved, but are currently not receiving any income? We have closed many loans where a monthly draw was setup out of a retirement account to demonstrate income...