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

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 SummitFunding.net. 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. Walt Wollet: Yup, and whatever I can do. 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 Should I Do After Being Turned Down For A Home Loan?

What To Do After Being Turned Down For A Home Loan

It’s inevitable that not every potential home buyer is going to get approved for a mortgage. There are a variety of reasons why mortgages are denied. Many buyers who are turned down for a home loan have no idea what to do after they’ve received the bad news that they aren’t able to finance a home right now. In most cases, the reason why these buyers have no clue what to do next is that they’re not educated on the next steps.

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. 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.

Ending Mortgage PMI

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. 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.

FHA and Conventional Mortgages Explored

The three basic categories of financing are either FHA, VA, or Conventional. A Guide For Home Mortgages. Buying a new home can be an exciting process.

A Guide For Home Mortgages

However, its not all green pastures and flower fields. There are certain tasks that need to be done, and it may not be fun. What this article is talking about is doing your homework or due diligence. The process may be tedious, but it’s critical for avoiding further complications down the road. 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!”

Mortgage Overlays Explained.

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.