Refinancing: What It Is and Why to Do It

You’ve likely seen a lot about mortgage refinancing. It’s often in the news and on the web because it’s a common financial move that can help homeowners in a variety of ways. But what is refinancing, exactly, and what are the reasons to consider it? What Is Refinancing? Refinancing is the process of replacing your…

Your 1098: What’s in All Those Little Boxes?

Tax season! There’s nothing more delightful than looking at little boxes full of numbers and copying those numbers into other little boxes, or sitting in the office of your tax preparation pro and watching them copy numbers into little boxes. While we can’t make tax season as fun as a birthday bash in Vegas, maybe…

When to Drop Your Asking Price

There is no question that 2017 was a seller’s market. A recent study by the National Association of Realtors, revealed that 99% of listings received their asking price. However, sellers should be careful in having exorbitant expectations on what they can fetch for their home. While housing inventory has been limited, buyers simply won’t pay…

Your Guide to the Mortgage Market

Thinking of buying a home? Perhaps you’re considering selling your home instead? The mortgage market in 2017 has seen some significant changes compared to previous years. The profile of the average buyer and seller is different when compared to even just last year. A great deal of information can be gleaned from the 2017 Profile…

FHFA Considers Alternate Credit Scoring System

The venerable FICO scoring system for rating borrower’s credit has been a foundational piece of the mortgage process for nearly 30 years. The major credit bureaus (Equifax, Experian, and TransUnion) compile consumer credit files, which are then used to calculate the FICO credit score. While the system was the best attempt for a mathematical solution…

Brokers Play Key Role Despite Digitization

The mortgage industry is evolving day by day as technology and data is integrated into every aspect of the lending cycle. More data is available for both the lender and the borrower for faster turn arounds, more accurate assessments, and a reduction in errors. It’s an exciting time for the mortgage industry. Despite this rapid…

5 Ways HMDA is Going to Change the Mortgage Business

The Home Mortgage Disclosure Act, or simply HMDA, is a federal law that requires lenders to provide mortgage data to the public. It has been on the books since 1975, but HMDA has continued to change as technology has advanced. One of the goals of HMDA has been to combat any unfair or discriminatory lending…

6 Tips on When to Refinance Your Mortgage

A mortgage refinance means paying off the existing mortgage and replacing it with a new mortgage. There are quite a few reasons to refinance a home mortgage for the savvy homeowner. Here is your guide, six essential tips, on when to refinance your home loan to ensure you get the best deal possible. Tip #1:…

5 Most Common Renovations that Lower Home Value

Every do-it-yourself project should have two measures of success. First, ask yourself if the renovation will make the home more enjoyable or attractive to you. This is where most homeowners stop in their analysis of whether to continue with a home project. The second, and perhaps more important, is determine what effect this project will…

5 Tips to Compete Against Cash Buyers

A cash offer is very attractive to the seller for a couple of reasons. First, it means there is no issue of  waiting on a loan approval. Will the buyer get approved or not? Also, cash expedites closing in most cases. It can be hard to compete against another buyer that is able to pay…