I spoke with a client a couple of days ago, and they were interested in talking equity out of their house and buying an investment property. Below is an example of how it would work with the buyer using no money out of pocket and extracting the down payment from the equity they have in […]

All I can say is wow! I had a ton of calls over the past 24 hours, asking if it is still an excellent time to buy even though rates have jumped through the 6’s and into the 7’s! Yes, I am talking about a 30-year fixed-rate mortgage and other options, but none look great […]

I am starting my 33rd year in the mortgage business this week, and I have seen a few things over that period. I will not tell you everything in this post, but I can tell you that it has been a wild ride, and I am looking forward to another 10-15 years. I have had […]

I wanted to let you know a few differences between FHA and conventional lending regarding private mortgage insurance (PMI). FHA charges an upfront mortgage insurance premium UFMIP of 1.75%, which they add to the original loan amount. There is also a monthly PMI charge of .85% if the loan amount is $625,500.00 or below. If […]

I love when new loan programs come out, I can share the info with you, and today we have a good one. We get the occasional client looking to buy a primary residence or second home, and they do not have income, bank statements, or a business and do not fit into our regular loan […]