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

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

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, 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 […]
January 27, 2017

Some Myth About VA Loans Austin TX

It is important that you are familiar with VA loans Austin TX if you are interested to apply for this type of mortgage. Here are some myths (and facts) that you should be familiar with: 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 loans Austin TX 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 overseas can just sign a document called power of attorney specifically designating a spouse (or someone 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 borrower. VA loans take forever to close – Myth The truth is, VA appraisals can be back in under 10 business days on average. There is a little difference between VA and conventional loans when it comes to getting to the finish line. […]
January 27, 2017

HomePlus Mortgage is on LendingTree’s Q3 2016 List of Top Home Lending Providers

HomePlus Mortgage continues to be one of the leading providers of mortgage loans not just in California but across different states where the company has a market presence. Various recognition it has received in the past are proof of the company’s high reputation in the home loan industry. In the recent report (released January 23, 2017) by LendingTree, a leading online loan marketplace, shows that HomePlus Mortgage made it to the 4th spot in its quarterly list of the top customer-rated network lenders for the third quarter of 2016; that is in the Home Lending category. The ranking results were based on the “actual customer reviews for the third quarter of 2016,” where a five-star quality review system was used for overall customer experience as determined by actual LendingTree users. The above-mentioned industry recognition is another yet a great achievement for HomePlus Mortgage and will inspire its team to strive more as the company continues to serve to fulfill its mission, which is to give everyone the right information about home financing before they get one, and “to provide customers with the highest level of customer service and the most competitive mortgage rate and term.” The company believes that homebuyers should “get a mortgage based on their financial situation and not based on the profit margins of the lender.” Why lots of customers prefer HomePlus Mortgage? Below are some of the advantages of working with HomePlus for mortgage loans: The company has the highest level of customer service Provides customers […]
December 22, 2016

Compelling reasons why go for home loan refinance Tampa FL?

When you go shopping for home loan refinance Tampa FL, you tend to be anxious on whether you are making the right decision or not. That is quite understandable considering that it involves some serious amount of money and thus, it just makes sense to exert extra effort to get the best deal available in the market today. To help you decide whether to go for refinancing or not, we have listed below some of its benefits (and you can call our office anytime if you want to know also about some of its limitations): Why refinancing might be a good option for you? Here are some compelling reasons why: It can lower your monthly repayment. It is considered as one of the best ways to help lower your mortgage payment and your interest rate. You can also enjoy fewer fees with it. However, you should: (1) have a good credit score and (2) your property value should exceed the refinance amount (along with some more other requirements) in order to qualify for home loan refinancing. (Again, don’t hesitate to talk to our experts at HomePlus Mortgage to learn more). It allows you to pay your mortgage off faster. Are you making more money now than what you were making when you bought your home? If so, you can consider home loan refinancing if you want to pay your mortgage off faster. (FYI: Paying more on your mortgage each month is not always allowed based on the loan terms and […]