We have seen a few clients lately buying a second property and wanting to use their VA without selling it. They have a VA loan already. They can do this most of the time, but they may have to put money down on the new purchase as they may not have enough eligibility to buy […]

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 […]