Resources and News

Using Your Home Equity to Buyout Divorce SettlementWith home values on the rise, a cash out refinance can be a solution to access funds needed. Common ways to split the equity of a home in a divorce include, but not limited to:Selling the home.Buying someone out of a house during...

Net Tangible Benefit and Refinancing Options for HomeownersChoosing a mortgage that is right can be confusing, but connecting with a mortgage professional can help. Homeowners should only refinance when there is a reasonable financial advantage by refinancing also known as a net tangible benefit.The first thing a homeowner should ask...

What Causes an Escrow Shortage on Your Mortgage | SolutionsHas your mortgage payment increased? Escrow accounts are established to pay taxes and insurance unless waived during the loan process prior to closing. With home values on the rise, taxes and insurance are most likely to increase.An escrow analysis is typically...

Lower PMI Rate – FHA Mortgage Insurance Rate Reduction Looking to get a lower PMI Rate? On February 22, 2023, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2023-05, which offers a mortgage insurance rate reduction for those who qualify. There are two types of mortgage...

Rent vs. Purchase: Making the Right Decision in Today's Market  One of the significant financial decisions individuals' faces is whether to rent or purchase a property. In today's market, where real estate dynamics can be complex and varied, it's crucial to carefully evaluate the advantages and disadvantages of both options....

No Income Investment DSCR Cash Out RefinanceThe no income investment DSCR cash out refinance is a way to qualify for a mortgage without personal income and is based on the cash flow of the property. This debt-service coverage ratio is calculated using the following equation:Rent / (Principal and Interest (P&I)...

15 to 30 Year VA Cash Out Loan Up To 100% LTVVA cash out guidelines vary when it comes to the lender, and some have a VA cash out loan-to-value (LTV) limit. If a lender will only go up to 90% LTV, they may have an VA overlay, which is...

Cash Out Condotel Refinance Loan, Rate & Term, & Purchase It is very common for a lender to think they can finance a condotel unit and deny the loan. People often end up paying cash to purchase a condotel unit with hope they can do a cash out condotel refinance...

3 Month Bank Statement Mortgage for Self-Employed BorrowersAre you looking for a 3 month bank statement mortgage? Qualifying for traditional loans can be a hurdle for the self-employed because underwriters start by calculating income based off taxable income. Eligible mortgage options include:Purchases.Cash out refinances.Rate and term refinances.The 3 month bank...

Is there Still a No Doc Mortgage in 2022? Looking for a loan program that does not require income for all occupancy types? The main qualifying factor for this loan program is being able to show enough liquid assets. Lenders often refer to the no income document mortgage as: An...