Commercial and multifamily mortgage loan originations decreased 13% year-over-year in Q3-22, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. A fall in originations for office, multifamily and retail led to the overall decrease in commercial/multifamily lending volumes. “After a strong first half of the year, rising interest and...
Tag: #MortgageBroker
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THERE ARE MANY DIFFERENT TYPES OF MORTGAGE LOANS
There are many different types of mortgage loans: conventional, FHA, VA, USDA, jumbo, private money, investor, second/vacation home, primary residence, not so hard money, purchase, refinance. Which is the best for you? 15-year fixed, 30-year fixed, 20-year fixed, adjustable rate? We specialize in going over your scenario to find the right loan for you. We...
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CAN AN INVESTMENT GROUP GET FINANCING?
Are you a part of an investment group looking to purchase rental homes. Can an investment group get financing? Can you get financing if you purchase rental homes with a friend? Yes, you can.
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YOU ARE NOT ALONE
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HOW CAN GIFTS BE USED TOWARDS THE PURCHASE OF A HOME?
How can gifts be used towards the purchase of a home? There are a few different ways. A gift must be made by a relative. A gift letter will need to be executed by both the donor and donee stating their relationship, the amount and date of the gift, from what account the gift...
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THINGS TO CONSIDER WHEN FINANCING A SECOND, OR VACATION HOME
When you are looking to finance a second or vacation home, there are things to keep in mind. You should consider the following: You need a minimum of 10% down payment, it is better if you can put 20% down as you can avoid mortgage insurance. The location of the home needs to make sense....
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ALL-IN-ONE LOAN PRODUCTS
A very interesting loan product that can help monthly positive cash-flow consumers pay-off their mortgage sooner is the All-In-One. You don’t hear of this product much in the U.S., but similar products have been offered in Western Europe, Canada, New Zealand and Australia. It is called All-In-One because it combines both a home loan...
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DO YOU HAVE A PAYOFF STATEMENT?
Before paying off your mortgage loan make sure you obtain the payoff statement. The lender can provide a payoff statement and the final amount to be paid to release their lien. Then you can know the principal balance, interest up to the date of closing, penalties (if any), and other charges the lender may...
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IF IT LOOKS LIKE A CONDO, IT MUST BE A CONDO, RIGHT?
It looks like a condo, is it a condo? One cannot determine whether or not a structure is a condo by looking at it when it comes to HOA’s. There are many properties that you may know as a patio home, townhome, or even a single-family residence, but because of the way the land was...
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DO YOU HAVE QUESTIONS ABOUT REVERSE MORTGAGES?
Are you considering applying for a reverse mortgage? Do you have questions about reverse mortgages? A reverse mortgage is a loan where you don’t have to make a monthly payment, rather, the equity in your home makes the payment. You have to be at least 62 years old to qualify and have a 40-50% equity...