loans Archives

Conventional Loans

By Spencer Llewellyn at 12:16 am on April 23, 2017

Conventional loans are considered the ‘garden variety’ of mortgage programs. And while the term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency, conventional loans can be either “conforming” or “non-conforming”. Conforming loans are conventional programs that meet or ‘conform’ to guidelines set forth by the Federal Housing Finance Agency (FHFA), as well as the funding criteria for either Fannie Mae and Freddie Mac.

How to Get the Lowest Mortgage Rate

By Julie Rains at 7:19 am on March 4, 2014

Snagging the lowest mortgage rate possible can mean saving thousands of dollars over the life of your loan. For example, if you locked in a 4.0% mortgage interest rate rather than a 5.5% rate for a 30-year, fixed-rate mortgage loan of $200,000, you could save more than $65,000 over 30 years. Read More

adjustable rate-mortgage current mortgage rates debt-to-income ratio interest rate loans mortgage interest rates

Do I Need a Mortgage Pre-Approval?

By Julie Rains at 7:35 am on February 17, 2014

Your realtor may encourage you to get a mortgage pre-approval. But do you really need one? Read More

loan application loans mortgage mortgage prequalification

2014: Year of the Qualified Mortgage

By Spencer Llewellyn at 3:45 pm on January 24, 2014

January of 2014 saw the Consumer Financial Protection Bureau (CFPB for short) introduce a host new rules and guidelines for real estate mortgages. For the most part, these ‘new’ rules and guidelines have already been around for awhile. The financial industry suffered a crushing blow from the 2008 Financial Crisis and has been extensively regulated every since. Read More

debt-to-income ratio home loans loans mortgage qualified mortgage

Adjustable-Rate Mortgage: ARM yourself with knowledge

By Spencer Llewellyn at 11:42 am on December 22, 2013

Once thought of as the agile, exuberant cheerleader of home loans, the adjustable rate mortgage (ARM) accounted for as many as one in four mortgages in 2006. A few years later, when ARMs became branded one of the risky, greed-filled indulgences of the financial crisis, their number fell dramatically. Yet ARMs have seen a recent uptick in popularity, but with a much clearer view of what they really are and who can benefit from their flexibility. Read More

adjustable rate-mortgage ARM arm mortgage home loans loans mortgage