The Federal Reserve and Interest Rates

Wednesday, March 18th, 2015

The Federal Reserve and Interest Rates “The much anticipated Fed meeting just finished up.  The expectation since the beginning of the year was an interest rate increase by April. That is not happening. The Fed is saying they will remain diligent on watching this. However everyone expects a rate hike THIS year. Possibly by June-September. […]

Steps to Obtain a Mortgage

Thursday, February 26th, 2015

Steps to Obtain a Mortgage Today’s stricter lending environment means that processing a mortgage application is more complex than ever. Given the number of steps that lenders, underwriters, and mortgage insurers must all complete before home buyers truly have their financing in place, the buyer can often feel exhausted and frustrated during the process. To […]

How Much Home Can I Afford?

Thursday, February 26th, 2015

How Much Home Can I Afford? Debt to Income Ratio or DTI is a common term used in lending comparing a person’s monthly debt load to their monthly gross income.  The DTI ratio is used by lenders to determine if a home buyer can maintain the new payments on a property they wish to purchase. […]

What is PITI?

Thursday, February 26th, 2015

PITI: What is it? Chances are whether you are a new buyer or just haven’t purchased in a while there will be some terms that you hear during your home purchase that you just don’t understand.  One very common term is PITI.  It used when qualifying Buyers for a mortgage.  It is an acronym that […]

Lending Update

Tuesday, January 27th, 2015

Lending Update: Hopefully you have seen the news that FHA has lowered they PMI by almost a half of a percent! This means that with their low rates and lower PMI, you will be seeing more and more clients using FHA! Also, anyone with an FHA loan now is eligible to do a streamline refinance […]