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Real Estate Mortgage Information

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Here are the latest and greatest real estate blog articles about mortgages.

Should I Go With A Local Bank Or Mortgage Broker? One of the most common questions I get from home buyers is; “what do you recommend, should I go with a mortgage broker or should I go with a bank for my home loan?”

Should I Go With A Local Bank Or Mortgage Broker?

"Also, is a mortgage broker the same as a loan officer? " "Is one better than the other? " All good questions! Homebuyers: How to Spot a Great Mortgage Lender. Share on Facebook Share on Twitter You’re ready to take the plunge from being a renter to a homeowner.

Homebuyers: How to Spot a Great Mortgage Lender

This transition is a new experience that’s full of challenges, from finding that perfect home to financing it. Gift Money for a Down Payment. Share on Facebook Share on Twitter.

Gift Money for a Down Payment

Is The FHA Mortgage Right For Your Home Purchase? Podcast #10: Luxury Mortgages Explained. For this podcast about Jumbo Mortgages for purchasing a luxury home I sat down with Walt Wollet of Summit Funding.

Podcast #10: Luxury Mortgages Explained

During our conversation we discussed the jumbo mortgages, the application process, credit score and down payment requirements and more. This podcast is helpful for those wanting to buy a luxury home through the use of jumbo mortgage financing. I hope you enjoy the podcast and find it informative. Please also consider sharing with those who may find it useful. Listen via YouTube: You can connect with Walt Wollet on LinkedIn, Facebook, and at You can connect with me on Facebook, Pinterest, Twitter, Google+, LinkedIn, YouTube and Instagram. About the author: The above Podcast “Podcast #10 Topic: Luxury (Jumbo) Mortgages Explained” was provided by Paul Sian.

Paul: Hello, everybody. Walt Wollet: Hey, Paul. Paul: Yeah. Pay Off Your Mortgage Faster. Buying a home is probably the most important deal in your life, and your home loan is the biggest investment you will ever make.

Pay Off Your Mortgage Faster

And surely, a mortgage is what most people would like to pay off as quickly as possible. It is known, that more than 20 million Americans own their homes outright. So many homeowners have the goal of making the last mortgage payment one day. So, this article is all about getting out of a debt sooner and smarter. The Process Of Getting A Mortgage For A Luxury Home. Purchasing a luxury home requires a slightly different approach than if one were buying a non-luxury home.

The Process Of Getting A Mortgage For A Luxury Home

Generally a luxury house is considered luxury because the price is higher than $500,000.00 and offers luxury amenities not commonly found in non-luxury homes. While the $500,000.00 is a general guideline that does not mean that amount applies the same to every area in classifying a home as luxury. In the Greater Cincinnati, Ohio and Northern Kentucky Real Estate Market homes $500,000.00 and above generally will be considered to be luxury homes.

Other areas may be different based on the real estate market in those locations since real estate is all about location. The Benefit of a Pre-Approval Letter. Get Your Pre-approval Letter First!

The Benefit of a Pre-Approval Letter

You have been looking at homes for months, now you have found the perfect home. It is time to put in an offer on the home you like, your agent tells you that you need to submit a mortgage pre-approval letter with your offer for it to be considered. You put the kids to bed and you sit at the computer and you get a pre-qualification letter that you print off the compute, or dig out an old pre-qual letter.

Yes, it may satisfy the home seller, but you are under serving yourself. What To Do After Being Turned Down For A Home Loan. Step By Step Directions To Follow After Being Turned Down For A Mortgage.

What To Do After Being Turned Down For A Home Loan

Mortgage Shopping Tips To Use Prior To Buying A Home. Top Mortgage Preparation Tips & Tricks Tips For Preparing To Get A Mortgage When Buying A Home One of the most important steps in the home buying process is the mortgage phase.

Mortgage Shopping Tips To Use Prior To Buying A Home

Using A VA Loan To Buy A Home. Whether you’re buying your dream home or refinancing your existing home, deciding on the right loan product is a crucial decision.

Using A VA Loan To Buy A Home

It is an important step in laying the foundation for your family’s financial future. There are a lot of loan choices. The one that was right for your friend or family member may or may not be right for you. It truly depends on your situation and your financial goals. Thank you for your service to our country. Have you served 181 days during peacetime (Active Duty)? Reasons Your Mortgage May Be Denied. Ending Mortgage PMI. One of the things that many homeowners want to know is how to get rid of private mortgage insurance. If you bought a home without making a down payment of 20% or higher, or you refinanced your home with less than 20% equity, private mortgage insurance (PMI) was probably a requirement of owning your home.

Now, when you were in the middle of the excitement of buying the house, you may not have batted an eye at paying a little extra insurance to get your nice new home. But as the months go by, and you look at your mortgage bill, you may have noticed that PMI is kind of expensive. Naturally, you want to know how to get rid of it as soon as possible. Getting rid of private mortgage insurance is not that difficult to do as long as you follow a few simple steps outlined below. FHA and Conventional Mortgages Explored. For first time home buyers the terminology of loans can be confusing, and sometimes the answers are misunderstood when explained in real estate jargon. The three basic categories of financing are either FHA, VA, or Conventional. Here’s a brief rundown: 1. FHA – Insured Financing. FHA stands for Federal Housing Administration and was created in 1934. Money to home buyers. The minimum credit score of 580 is a bit lower than that required by lenders of conventional loans.

Also, the credit score isn’t the only aspect of the buyer’s credit-worthiness; FHA takes into consideration the buyer’s payment history, and what they refer to as common sense lending standards. A Guide For Home Mortgages. Buying a new home can be an exciting process. However, its not all green pastures and flower fields. There are certain tasks that need to be done, and it may not be fun. Mortgage Pre-Approval Amounts. Podcast: Mortgages. Important Mortgage Terms To Know and Understand. The Basics For Getting A Mortgage. Mortgage Overlays Explained. Lender Overlays in a Nutshell A famous line from the old movie “The Wizard of Oz” involves the character Oz shouting out “pay no attention to the man behind the curtain!” The little guy behind the curtain was trying to protect his image as a strong, powerful leader. From this movie scene spawned the expression “let’s pull back the curtains”, meaning, “let’s see what type of work REALLY goes on when people are not paying attention.”

Today we are giving you a chance to peek behind the curtain of the mortgage world and get an idea of what happens at individual banks and mortgage companies in the form of mortgage overlays.