In today’s market, it’s very common that most lenders use a combination of both auto and manual underwriting.
10 Tips for Buying a home when you have student loan debt
If your dream is to be a homeowner but you have student loans, read on for 10 hopeful tips about how to become a homeowner while dealing with student loan debt
Are Adjustable Rate Mortgages Gaining in popularity in Denver?
For some buyers, in this current higher fixed rates marketplace in Denver, ARMs can be a good way to initially get into a home and then they opt to refinance near the end of the ARM term into a 30-year fixed loan at a lower rate than the ARM was.
How Can A Good Realtor Help You Through Underwriting?
Of all the lending companies here in Denver, I know all about the reputations and recommendations for lenders and underwriters and I can send you some great contacts.
Interest Rate Hikes and the Denver Real Estate Market
If you’re in the market to buy or sell real estate in Denver, I don’t recommend pausing your home ownership dreams just for a rate hike that may or may not come to fruition.
LLPA changes rescinded as of May 10th
The Federal Housing Finance Agency (FHFA), which is the regulator of Fannie Mae and Freddie Mac, announced that they are rescinding the new LLPA fees
LLPA Changes Official as of May 1st
The release of the new LLPA structure had been delayed but it is official as of May 1st across the country, including here in Colorado.
What does the new LLPA structure mean for me?
Last week, we started talking about credit in general and the new LLPA (Loan Level Price Adjustment) structure. This week, we’re going to dig more into what the LLPA is and what the new changes enforced by Fannie Mae and Freddie mac mean for the average homebuyer. The new LLPA structure will be in full force May 1st and will …
What’s going on with interest rates in 2023?
Simply, interest rates influence how much a mortgage is both in a lifetime and a monthly payment. In the last few weeks of January 2023, we’ve seen interest rates hover around the upper-5% to lower-6% range for a 30-year fixed rate mortgage
Pros and cons of buying down an interest rate
In short, buying down interest rates is when a buyer puts down more money upfront to reduce interest rates and the mortgage amount in total
The 4 Types of Home Loans
Individual variances may impact which loan type is best for you and your situation. Below is a quick high-level breakdown of the 4 major loan types: conventional loans, FHA loans, VA loans or USDA loans
Is it harder to get a home loan now?
Yet another drawback of inflation and ever-rising interest rates is the possibility that it’s harder to qualify for a home loan. Just how much harder is it to get a home loan when interest rates change?
7 Things NOT to DO after You are Pre-Approved for a Home Loan
Avoid a headache and read this post to avoid 7 common pitfalls homebuyers make after getting pre-approved for their home loan.
Lender Interview Guidelines
Choosing the right lender and loan is a crucial aspect in buying a home wisely. Here are some guidelines to help you select the right lender for your situation.
Before You Choose a Mortgage Lender, Read These Tips
There are different types of mortgage lenders from banks and credit unions, to lenders who only do home loans. Learn how the different types of mortgage lenders work.
P is for Pre-Approval vs. Pre-Qualification
This post is part of an ongoing series, “ABC’s of Real Estate.” Stay tuned for more posts as I run through the A-Z of real estate and provide helpful tips for home buyers and sellers alike.
“L” is for Loan-to-Value Ratio
This post is part of an ongoing series, “ABC’s of Real Estate.” Stay tuned for more posts as I run through the A-Z of real estate and provide helpful tips for home buyers and sellers alike.
How Much House Can I Really Afford?
This post is part of a series called “Tough Questions: Real Answers,” where I answer your burning questions about buying or a selling a home in Colorado, or real estate in general. To submit your question, email me at [email protected]
Tidy Up Your Underwear Drawer: Preparing for Lenders
Be prepared for the qualified mortgage process as Qualified Mortgages are basically an “ability-to-repay” rule, so lenders will have to look deeper into a buyer’s criteria before making a loan.
Understanding the Appraisal “Waiver” Scenario in Home Buying
Understanding an appraisal waiver in this competitive Denver real estate market and using this strategy to get your offer accepted.
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