mortgage tips
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…
Read MoreStudent Loan Debt: My Story
Time for some real talk. Some personal sharing. In 2008, I went into graduate studies with very little debt, a teaching assistantship, and grand visions of academia. As sometimes happens, things did not go as planned, and I ended up with a ridiculous amount of student loan debt after two years of my master’s program.…
Read MoreApplying for Your First Mortgage: What to Expect
If you’ve never been through a mortgage application process, or maybe it’s been a long while, you may be approaching it with some trepidation. The very idea of a stranger digging through details of your life history and finances can feel a bit invasive. While the process (and hence, your experience) will vary greatly depending…
Read MoreNew Construction: What to Know Before You Buy
FULL DISCLOSURE up-front: No loan officer who is not in a “preferred lender” relationship with a builder can compete with new construction. Builders mark-up the sales price of their homes so that they can entice buyers with a rebate (which can be used to buy down the rate or cover some closing costs) in exchange…
Read MorePre-Qualification vs. Pre-Approval
In recent pre-COVID times, a simple pre-qualification letter was enough to start your home search with and was the only letter most lenders would issue until you were under contract, but in today’s competitive, multiple-offer market (driven by lack of inventory), you had better be armed with a pre-APPROVAL from your lender of choice. What’s…
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