I live in a world of acronyms.

Seriously - when we start in the business, they should have a mortgage class related to just understanding all of the acronyms.  Even worse, mortgage professionals use these acronyms in conversation with clients.  I feel horrible for those individuals because it’s like we’re speaking a different language, right?
With that […]

I live in a world of acronyms.
Seriously - when we start in the business, they should have a mortgage class related to just understanding all of the acronyms.
With that said, I’m going to start explaining some of the frequently used acronyms. Hopefully if you’re working with a mortgage professional, you’ll never hear these. […]

Have you heard the term Cap Rate?  Maybe by the water cooler?  Maybe in an investment book?  Maybe on a late night sales commercial?  Have you ever wondered what it means or how reliable it is?  
When buying an investment property, investors often consider the cap rate.  Often it serves as a part of the […]

I’ve spent days pondering how to make this as funny as Stephen Colbert’s hilarious segment ‘Better Know a District’.  Very quickly, I realized that his humor is in his interviewing… so I guess I’m out of luck in that respect. However, I do know that too often terminology is used in the mortgage industry (much […]

If you’re considering to finance over 80% of the purchase price (or appraised value on a refinance) of a home, you’ll want to know how you can do it.  You may believe the myth that you must carry private mortgage insurance (PMI). The good news is, there are alternatives!   If you need a quick catch […]

Let’s start out by turning the tables here and putting you in the position of a bank.  Say someone comes to you and wants to borrow money on a house.  They say want to put borrow 100% and put absolutely no money down. They’ve never owned a home before, but they’ve had a few credit […]

It’s been established that your credit score is a very important component to your personal profile.  To refresh your memory, your credit score influences the following (and more):

Employment
Insurance
Interest Rates on Debt
Qualifying for Loans
Renting an Apartment
Opening a Checking/Savings Account

It’s extremely important to understand what the breakdown of that three digit score between 300-850 is.  Here is […]

Pre-qualification vs. pre-approval.
These are two terms that get thrown around far too much.  There is a great difference between the two, and it’s time we explain the difference and what they mean to you as a borrower.
If someone tells you that you’re pre-qualified, it SHOULD mean that you’ve given them a full application […]