Lending Expert Blog

March 30, 2017

These help borrowers get home loan approval from a mortgage lender, Austin, TX

Whenever clients visit our office asking help for their mortgage loan application, we see to it that we are able to include discussing with them useful tips (including those tips we have learned from mortgage lenders themselves), which help them get the best home mortgage deal available in town. It is our prime goal to help borrowers every step of the way of the mortgage application process. In this post, we are sharing a number of useful insights that can help borrowers get approved by a mortgage lender, Austin, TX. These include the following: Saving for a down payment. Though there are mortgage loans that do not require down payment, mortgage lenders recommend (as we do) saving for it, and putting some amount away from salary to save for down payment should effectively facilitate that. Having some amounts (recommended is 20%) to put down provides a number of benefits. Aside from higher chances of actually getting a mortgage, it can also put some burden off a borrower’s shoulder knowing that he/she pays smaller monthly mortgage dues. Here are more advantages of putting a 20% down payment on mortgage. Shaping up credit scores. Having a good credit puts a borrower in a position to attract the best mortgage loan deal. That said, it makes sense to shape up one’s credit score. It is important that a person who is looking for the best mortgage lender, Austin, TX should obtain a copy of his/her credit score report and act based on the […]
March 30, 2017

What a mortgage lender wants borrowers to know

Whenever clients visit our office seeking assistance for their mortgage loan application, we see to it that we are able to include discussing with them some useful tips (including those tips we have learned from mortgage lenders themselves). Doing so can help borrowers make their home loan application a success. Indeed, it is our core goal to help clients get the best mortgage deal in town; thus, we make sure that they are guided every step of the way. In this post, we are sharing a number of useful insights that a mortgage lender, Tacoma, WA wants borrowers to know to help them find the best deal possible. These include the following: On why saving for a down payment can make a difference. Though there are mortgage loans that do not require borrowers to put a down payment, mortgage lenders recommend saving for a it (putting some amount away from salary for savings should effectively facilitate that). Having some amounts (the recommended is 20%) to put down provides a number of advantages. Aside from higher chances of actually getting a mortgage, it surely can put some burden off a borrower’s shoulder when paying smaller monthly mortgage dues. Here are more advantages of putting a 20% down payment on mortgage. On why good credit scores can play a key role for home loan success. Having a good credit puts a borrower in a position to attract the best mortgage loan deal and thus, it makes sense to shape up one’s credit […]
March 30, 2017

Some important things that a mortgage lender, Irvine, CA wants borrowers to know

We have learned a lot of things from mortgage lenders with long years of experience working with them for our clients (borrowers). So, whenever clients visit our office for mortgage loan help, we see to it that we are able to discuss useful tips (including tips from the lenders themselves) that can help borrowers have a smoother home loan application process. As always, it is our desire that our clients get the best mortgage deal in town, so we make sure that they are guided every step of the way. In this post, we are sharing some of the things that a mortgage lender, Irvine, CA wants borrowers to know. These include the following: That saving for a down payment can make a difference. Though there are mortgage loans that do not require borrowers to put a down payment, mortgage lenders underscore the benefit of saving for a down payment. Having some amounts to put down makes a big difference (recommended is 20%). Aside from higher chances of getting a mortgage, it surely can put some burden off a borrower’s shoulder, knowing that he/she has to pay a smaller monthly mortgage due. Here are more advantages of putting a 20% down payment mortgage. That credit scores can play a key role for home loan success. There are a number of reasons to shape up credit score. Having a good credit puts a borrower in a position to attract the best mortgage loan deal. That said, it is imperative that a […]
March 21, 2017

Read this before you hire a mortgage broker

One way that can help you in your search for the best mortgage loan is to use a mortgage broker Santa Clarita, CA. A broker can help you navigate the complex lending process from start to finish. With expertise and a wide network of mortgage information they have, getting your dream home can become a reality. However, there are important things you need to understand so that when you are shopping for a home loan with your mortgage broker, it is going to be a smooth-sailing business relationship; it is imperative that you and your broker are on the same page. Here are some important things you need to know: What does a mortgage broker actually do? A mortgage broker, who should be a licensed one, acts as a middleman between you and potential lenders. Working in your behalf, your broker should find the best deals from mortgage lenders available – those who offer the most competitive terms and rates. Your broker does all the legwork for you – gathering the required documents, checking your credit history, among other pertinent mortgage loan requirements. How does a mortgage broker earn money? A mortgage broker, Santa Clarita, CA is get paid by a commission for the services he/she renders. In the most common payment set-up, a broker charges you for a loan origination fee, which is an upfront fee charged by a lender for processing a new loan application. It ranges between 0.5 to 1% of your loan amount. How to choose […]
March 21, 2017

Some things about VA loans that many borrowers are not aware of

When you’re in the mortgage industry for quite some time, you learn a lot of things about client behavior, and that includes the things they know (and don’t know) about VA loans. In this post, we are going to discuss some things about VA loans Spokane Tacoma, WA that many borrowers are not aware of (but they should be, in order to make an effective assessment on whether or not it is the way to go for a mortgage loan). Borrowers should know that… VA loans are reusable. That you can utilize your full VA entitlement more than once provided you pay off the loan each time. Please note as well, you may be able to acquire another VA loan even if you have lost one to foreclosure or currently have one. It is meant for primary residences only. Just like in any other areas, VA loans, Spokane Tacoma, WA require you to occupy the property within 60 days of closing. In other words, they are not available to finance investment property, a vacation or second home. So, supposing the seller of the property, for some reason, can’t move out right away and they pay you a month’s rent while working for their transfer, then they should move out before the 60-day requirement expires as anything beyond that will consider it a rental property and the new VA loan could be called in. They are guaranteed by the government. Meaning, if you have a VA entitlement, the agency typically guarantees […]
March 21, 2017

Consider these things when looking for a mortgage lender Palm Beach, FL

Shape up your credit score. Why it is so important? The truth is, not everyone can qualify to buy a home; there are certain criteria that a mortgage lender Palm Beach, FL considers before granting a loan and a good credit score is one of these criteria. It is to make sure that you can repay your loan. Please note that a low credit score might deem you as a risky borrower and they are likely to impose higher interest rate on your loan. Therefore, you should get your credit score in shape when you plan to apply for a mortgage loan. Do your homework. What are the benefits of doing your homework? For one, doing prior research allows you to know the lending landscape better. For another, it allows you to ask the right questions to your prospects. Furthermore, it provides an opportunity for you to familiarize important institutions in the mortgage lending industry such as credit unions, mortgage bankers, correspondent lenders, mutual savings banks, among others. In other words, it can make you well-prepared. Collect and select strategy applies. As there are lots of mortgage lenders in Palm Beach, FL, chances are it is going to be challenging for you pick one that can provide you the best deal. That is why the collect-and-select strategy can be useful. You need to get quotes from different prospective lenders and do the necessary comparison. Of course, compare an apple with an apple, which means you need to compare them based […]
March 21, 2017

Mortgage broker Austin, TX

You have trimmed down your list to find your dream home, and now you are thinking of the best strategy to find the best deals on mortgage so that you can finally settle down – in that new home. One way that can help you in your quest for the best deals is to use a mortgage broker Austin, TX. With a mortgage broker, you are guided through the complex lending process from start to finish. Sounds good, right? However, there are important things you need to understand so that when you are working with your mortgage broker, it is going to be a smooth-sailing client-broker business relationship. Some questions to ask… What does a mortgage broker actually do? A mortgage broker (should be a licensed one), acts as a middleman between you and potential lenders. Working in your behalf, your broker will find the best mortgage lenders available – those who offer the most competitive terms and rates. Your broker does all the legwork for you – gathering the required documents, checking your credit history, among other pertinent tasks. How does a mortgage broker earn money? A mortgage broker, Austin, TX is get paid by a commission for the services he/she renders. In the most common payment set-up, a broker charges you for a loan origination fee, which is about 1% of your loan amount. How to choose the right mortgage broker? There are a number of ways to consider to be able to find the right mortgage broker. […]
January 27, 2017

Busting Some Myths About VA Home Loans Santa Barbara, CA

One of the reasons why some mortgage loan borrowers experience a not-so-good loan shopping experience is that they do not do enough research before taking an offer or getting mortgage loan deal. If you are interested in VA home loans Santa Barbara, CA, it is imperative that you are familiar with the product so that you can get the best option for your unique condition. Here are some myths about VA home loans you should know: VA purchase loans are not for short-sale or foreclosed real estate – Myth The truth is, it can be used to buy a foreclosed and short-sale with as little as no money down. Those who are eligible for VA home loans Santa Barbara, CA may have an advantage over those who need up to 20% cash as down payment to qualify for conventional loans. Surviving spouses don’t qualify for VA loans – Myth The truth is, veterans, active duty and certain surviving spouses are eligible for VA home loan benefits. Qualified surviving spouses may borrow with no money down. In fact, they are exempt from paying the VA funding fee. Military members deployed overseas are not qualified for a VA-guaranteed loan – Myth The truth is, those military members who are assigned abroad can just sign a document called power of attorney, specifically designating a spouse (or somebody else) to act on their behalf for a VA loan transaction; the POA grants permission for the attorney in fact to act on behalf of VA-eligible […]
January 27, 2017

Ways a Mortgage Broker Can Help You, Bellevue WA

A person or entity that acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses is called a mortgage broker. In what ways a mortgage broker Bellevue WA can help you in your quest for the best deals? Here are some: First, a mortgage broker can make a detailed analysis of your financial situation in order to find the best mortgage loan deal available the matches your unique needs. A mortgage broker Bellevue WA acts as your personal loan concierge – can do all the legwork for you. The broker applies for loans with various lenders on behalf of clients, making the best effort in finding and negotiating for the best deals in the market. A mortgage broker can also help you to get some loan fees waived for you. That is because most mortgage brokers have working relationships with several local, regional and even national lenders. A broker’s connection to various lenders will give you accessibility and one-on-one attention you likely will not experience when you work directly with a loan officer at a bank. A mortgage broker will keep you updated on the current home loan interest rates – can full data from different sources. This is imperative since the current interest rates on offer at banks is a huge factor in judging which home loan offer is the best for you. Bear in mind that a broker works for you and not the bank. This is why when you you use them, they […]
January 27, 2017

Ways a Mortgage Broker Can Help You, Tallahassee FL

What is a mortgage broker? In a simple definition, it is an individual or entity that acts as an intermediary brokering mortgage loans on behalf of individuals or businesses. In what specific ways a mortgage broker can help you in your quest for the best mortgage deals? Here are some: A mortgage broker can make a comprehensive analysis of your financial situation in order to find the best mortgage loan deals available the match your unique needs. A mortgage broker Tallahassee FL acts as your personal loan concierge – can do all the legwork for you. The broker applies for loans with various lenders on behalf of clients, making the best effort in finding and negotiating for the best deals in the market. A mortgage broker can also help you to get some loan fees waived for you. That is because most mortgage brokers have working relationships with several local, regional and even national lenders. A broker’s connection to different lenders will give you accessibility and one-on-one attention you likely will not find when you work directly with a loan officer at a bank. A mortgage broker will keep you updated on the home loan interest rates. This is imperative since the current interest rates on offer at banks is a huge factor to be considered in judging which home loan offer is the best for you. Your mortgage broker Tallahassee FL can also negotiate for a better home loan interest. Remember, a mortgage broker works for you and not […]