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Mortgage Articles and Advice |
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| How Much House Can You Afford? |
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Debt-to-income Ratios |
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Your Monthly Income - the way Lenders Figure it |
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Your Maximum Monthly Mortgage Payment |
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The Rest is Easy - Sort of |
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| Your Down Payment Affects Everything Else |
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Analyzing Your Savings - the First Step |
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Mortgage Program Choices |
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Shopping for Interest Rates |
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Writing Your Offer |
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Conclusion - Look at Your Savings First |
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| Documenting Your Assets & Verifying Your Down Payment |
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You can't just "come up" with the money |
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Checking, Savings, & Money Market Accounts |
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Stocks, Bonds, Mutual Funds, etc. |
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Gifts from Family Member |
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401K or Retirement Accounts |
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Selling Personal Property |
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Help from Employers |
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Savings Bonds |
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Borrowing to Come up with a Down Payment |
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| Where Does Mortgage Money Come From? |
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The Olden Days |
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How it works now |
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Mortgage Backed Securities |
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| Different Types of Lenders |
| Mortgage Bankers |
| Mortgage Brokers |
| Wholesale Lenders |
| Portfolio Lenders |
| Direct Lenders |
| Correspondents |
| Banks |
| Savings & Loans |
| Credit Unions |
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| Advantages of Different Types of Lenders |
| What kind of Lender is Best? |
| Portfolio Lenders |
| Banks and Savings & Loans |
| Mortgage Bankers |
| Mortgage Brokers |
| Wholesale Lenders |
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| When Realtors or Builders Recommend a Lender |
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| Things You Need When You Apply for a Home Loan |
| "Alternate" Documention versus Full Traditional Documentation |
| The Actual List of things you need to get a quick loan approval |
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| Closing Costs When Buying or Refinancing a Home |
| Introduction |
| Lender Associated Costs - the "normal" ones |
| Lender Associated Costs - the "other" ones |
| Items Paid in Advance |
| Impounds or Reserves |
| Costs not Associated with the Lender |
| Refinancing Associated Costs |
| Asking the Seller to Pay Closing Costs - Advice and Rules |
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| Mortgage Interest Rates - How it Works |
| A Loan Officer's Rate Sheet |
| Pricing the Loan |
| Quoting Rates to You |
| Locking in Your Rate |
| Shopping for Rates |
| Getting Reliable Quotes |