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…

5 Tips to Help Borrowers with Student Loans Get Financing

Thousands of Americans rely on student loans to finance their college education. These loans, while an investment on future earning potential, can make getting a home loan more difficult. One of the most important things a borrower can do is to approach lenders with as good a credit profile as possible. Obviously, tens of thousands…

Why Many Believe Homeownership is Out of Reach

A recent survey conducted by Bankrate.com revealed the main reason that non-homeowners do not buy their first home. According to the survey, nearly half of the respondents attributed their lack of homeownership to finances. Of the 45% saying it was their financial situation, 29% said it was due to their inability to afford a down…

Best Mortgage Notes on the Web: February 2016

Here are some of the past month’s best Internet articles relating to the mortgage and housing industry: March 2016 Mortgage Rate Forecast The Mortgage Reports | February 29, 2016 Two months into 2016, today’s mortgage rates continue to defy Wall Street predictions. According to Freddie Mac’s weekly mortgage rate survey, 30-year mortgage rates dropped again last week to…