My new clients, Dave and Mindy, had saved enough cash for a down payment and closing costs and were ready to buy their first home. They were in my office seeking a pre-approval. They hoped to buy a home for…
In the wake of the post-2008 real estate recovery, many homeowners are discovering that they now have equity, where they had been “underwater” for several years prior. The happy current situation has enabled many homeowners to drop their monthly payments…
What determines my mortgage rate? There are many factors that will determine what mortgage rate you will qualify for. Loan to value (LTV) – determined by your down payment or equity in your home Debt to income ratios (DTI) – determined…
Most people applying for a home loan today expect tighter standards after the recent mortgage crisis but many borrowers are surprised at how stringent lending remains this far into 2012. Lending requirements remain frustratingly tight as residential construction and real…