How Does an Assumable Mortgage Work?

Purchasing a home with an assumable mortgage is a way to transfer the seller’s low interest rate mortgage into your name. Given the gap between mortgage rates of 2020-2022 and today, assumptions have been a HOT marketing technique. Taking an example of a $350,000 mortgage, the principal and interest payment difference of a 3% versus…

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Selling Your Home With Pets: Tips for Dog Owners

As a mortgage lender with real estate experience, who also has a passion for dog behavior and training, who better than the MORTGAGE DOGS to give you some quick tips on buying and selling real estate when you have dogs? The goal of this post is to arm you with two kinds of knowledge: What…

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Down Payment Assistance (DPA) programs: What You Need to Know

There are many DPAs on the market, and while some are much better than others, none of them start homeowners off on the right foot. Before you dive into the DPA pool, here are some important things to know. The results of a 2021 study published in The Journal of Fixed Income, “The Lowdown on…

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Mortgage Rate Roller Coaster

What’s going on with mortgage rates?!? The past year has been an emotional roller coaster of rate drop promises, for those trying to afford to buy a home, as well as those of us who make a living in the mortgage and real estate industries. 2024 was off to a good start, with a lot…

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The NAR Settlement: Potential Impact for Homebuyers and Sellers

Chances are you’ve heard the news about the NAR Settlement. It’s sent ripples through the real estate industry and you’d be hard-pressed to avoid the latest “hot take” in the media or the socials. I’m not here to rehash details of the lawsuit, but let’s think about how this might impact homebuyers and sellers if…

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Mortgage-Related Income Tax Deductions

If you made a home purchase in the last year, odds are you paid some little bit of something in discount points. Or maybe you weren’t confident rates would drop or didn’t want to worry about refinancing anytime soon, so you paid more. Discount points and prepaid interest are both tax-deductible items that will NOT…

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Seller Concession vs Price Reduction

Oftentimes a seller concession can be a bigger benefit than a price reduction in your new home purchase. While it sounds great to pay less for your new home, making an at-list offer and requesting a seller concession may actually save you a lot more in the long run! Here are the various ways a…

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Mortgage Rates Are Falling!

Mortgage rates are finally coming down, and after two lean years, lenders are coming out of the woodwork to show you how low your interest rate can be with a refinance. Before you get too excited, make sure you are taking a very close look at those closing costs! Things are not always as straight-forward…

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Tracking Down the BEST Realtor for YOU!

Yes, you need a realtor! A professional realtor is so much more than someone who shows you houses – they are acting as your representation in what will likely be the largest financial investment of your life. As a mortgage lender, I cringe when one of my clients says they don’t need a realtor (or…

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How Long Should I Wait to Refinance My Mortgage?

Let’s do some refinance math! When the cost of refinancing is recovered in less time than you plan to retain the home, it makes financial sense to refinance. How do you know when your property value has increased enough to avoid mortgage insurance? That is where your realtor comes in! They are your best resource…

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