Getting a Mortgage Just Got Easier

There’s some big news for home buyers! Two huge changes in the mortgage world have made it easier for borrowers to qualify for a mortgage. We at Pacific Union Financial want to make sure you have this information so you can make the best-informed decisions about your financial future. Credit Reporting The first change has…

5 Tips for Millennials Investing in Real Estate

Millennials, the largest living generation in the United States, are poised to enter their prime homebuying years. While the housing market has presented its challenges, particularly with shortages in some markets and increasing prices, many Millennials are still quite eager to buy. The same challenges that can make buying a home challenging could also be…

Alternative Credit Scoring Options

The traditional means of assessing the risk of a potential borrower is under review around the nation. The Great Recession of 2008 triggered a wave of regulatory restrictions on underwriting criteria. Many Congressional legislators aimed to restrict the types of products that were marketed to the American consumer with the goal of eliminating financial products…

The Pacific Advantage: Bruised Credit

Welcome to our Product Overview for Mortgage Pros. Pacific Union Financial recognizes what should be obvious, but seldom is – folks with mortgage expertise need the best tools in order to succeed. So we provide them. This series demonstrates that we have the range of products and tools to help accomplished mortgage professionals do what…

Which is More Expensive: Renting or Buying?

A very common refrain from renters who hope to one day own a home is that they just need to wait until they can afford a mortgage. The truth of how expensive the average mortgage is compared to renting might surprise a lot of people. Many Americans have been scared away from buying a home…

Are Mortgage Credit Standards Too Tight?

The Global Financial Crisis of 2008 left a lasting mark on the American economy and in particular, the mortgage industry. Prior to the GFC, some lenders were offering “NINJA” loans, the acronym for  “No Income, No Job, and no Assets”. It’s easy to see some of the flaws in the system looking back. The federal…

4 Ways Borrowers Can Improve Their Credit Score

The credit score, sometimes referred to as the FICO score, is one of the most important numbers that Americans will carry with them throughout their lives. It is a measure of their ability to receive credit, and credit is a major part of doing business, buying a home, and many other things. A consumer can…

5 Tips for Borrowers to Expedite Closing

Waiting for the closing on their mortgage loan can be one of the most stressful times for a borrower. Besides reducing anxiety, there are other reasons to aim for a quick closing. First, some sellers will give priority to buyers that can finalize the deal quickly. Also, in some instances, the offered mortgage rate can…

How Lenders Determine the Mortgage Rate

When borrowers submit their mortgage loan application, the interest rate they are offered can seem to be a bit of a mystery. What determines how high or how low the offered rate is? Does the lender have sole discretion on the rate based on their own underwriting standards? Mortgage-Backed Securities (MBS) Mortgage lenders and the…

Should Millennials Rent or Buy?

The US housing market is at an interesting intersection. It’s now been several years since the Global Financial Crisis of 2008. Underwriting criteria has loosened, unemployment has dropped, and overall economic stability has improved. However, the next generation of home buyers is facing some new challenges. For instance, in some markets, the shortage in housing…