Mortgage: The Death Pledge
Mortgage: ‘mortuus’ meaning ‘dead’ and ‘gage’ meaning ‘pledge‘
When it comes to securing a conventional loan, understanding the nuances of borrower contribution requirements can make a significant difference in your home-buying journey. We believe in empowering our clients with the knowledge they need to make informed decisions. Did you know that conventional loans have specific minimum borrower contribution...
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Published on: 2024-09-14
Source:
Mortgage Depot
I’ve said for a while that the mortgage recapture game was going to ramp up and get more aggressive. Customer retention has always been a big thing in every industry, but thanks to new technology and “AI,” companies are getting better at it. Many of the largest mortgage companies have...
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Published on: 2024-09-13
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The Truth About Mortgage
Lately, savings accounts have been paying a pretty solid return. Companies like Capital One and Discover have been offering over 4% APY. It’s not necessarily free money, given the high rate of inflation, but it’s been one way to keep your dollars from eroding in value versus just putting them...
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Published on: 2024-09-12
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The Truth About Mortgage
A recent report from CoreLogic revealed that “piggybacked purchase loans” for FHA borrowers reach a new high in June of this year. While piggybacked home purchases tend to be higher historically for those who take out FHA loans, they’ve surged in recent years. The culprit is likely high home prices,...
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Published on: 2024-09-11
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The Truth About Mortgage
The latest monthly national housing survey from Fannie Mae revealed an interesting contradiction. Last month, a new survey-high 39% of respondents said they expect mortgage rates to go down over the next 12 months. At the same time, fewer expect home prices to go up over the same period. And...
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Published on: 2024-09-09
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The Truth About Mortgage
The other day I noticed that mortgage rates were being advertised at some really low levels. Many quotes in the mortgage rate table on my own site were in the mid-5s. That got me curious how low rates could be with a really favorable loan scenario, such as a 760+...
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Published on: 2024-09-06
Source:
The Truth About Mortgage
Loneliness is poison. It’s literally killing us. Over the past couple of decades, researchers have repeatedly found a direct link between loneliness and a whole host of physical and psychological problems like heart disease and mental illness.1 Loneliness cripples us physically, unwinds us mentally, and makes it impossible to be...
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Published on: 2024-09-06
Source:
Ramsey Solutions
Much like 2021, 2022 was a year of economic uncertainty for most Americans. Many are less than optimistic about their economic futures, and financial struggles continue to be top of mind—including the difficulty of paying for the basics. Record inflation, skyrocketing gas prices, rising interest rates, job layoffs and rumors...
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Published on: 2024-09-06
Source:
Ramsey Solutions
If you’re thinking about purchasing a property, you’ve likely sifted through available home loan options to determine what’s best. There are lots of loan types of choose from, including conventional loans (those not backed by the government) and government-backed loans, such as FHA, USDA, and VA loans. While each have...
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Published on: 2024-09-05
Source:
The Truth About Mortgage
Today, we’re excited to share how we at MortgageDepot can fund loans as a Debt Service Coverage Ratio (DSCR) in the beautiful state of Hawaii. Whether you’re an investor looking to expand your portfolio or a first-time buyer seeking a unique financing solution, our DSCR loan program might be the...
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Published on: 2024-09-05
Source:
Mortgage Depot
A new paper from Yale professor Kelly Shue argues that consumers mistakenly wait to take out mortgages and other long-term loans when the Fed is expected to cut rates. Their confusion seems to be related to conflating short-term and long-term rates, which don’t necessarily move in tandem. In fact, short-term...
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Published on: 2024-09-04
Source:
The Truth About Mortgage
They say not to time the market. It’s a chump’s game. If anyone had any real success at it, they’d be rich. This type of advice typically applies to the stock market, but it can apply to just about anything else too. It’s hard enough to predict something to happen...
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Published on: 2024-09-03
Source:
The Truth About Mortgage
If you’re over the age of 25, I’m willing to bet you’ve found yourself drooling over a show on HGTV at least once in your life. The trendy couches, the modern rugs, the sleek lighting. Oh, baby! Everything just looks so nice . . . and expensive. And it might have you...
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Published on: 2024-08-30
Source:
Ramsey Solutions
What’s better than taking on the National Association of Realtors (NAR) and winning? Well, launching your own flat-fee, AI-powered real estate service just months after of course. In the wake of the new real estate commission rules, which were born from the Sitzer-Burnett class-action lawsuit, a new service called Landian...
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Published on: 2024-08-29
Source:
The Truth About Mortgage
I went for a walk today and starting thinking about mortgage debt. I know, pretty lame. But that’s what apparently goes through my head when I make a conscious effort to put my phone down and exercise. Anyway, I began thinking about how I really don’t like debt. I don’t...
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Published on: 2024-08-29
Source:
The Truth About Mortgage
Julia Knurova, a Mortgage Loan Originator at MortgageDepot’s Hollywood, FL office recently helped a self-employed investor navigate a challenging loan scenario. The borrower was seeking a cash-out refinance on a single-family home in Lakeland, FL, which she had acquired less than six months ago. This case presented several unique challenges....
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Published on: 2024-08-29
Source:
Mortgage Depot
If you’re looking to save money on your next mortgage, a mortgage broker might be able to help. A firm by the name of Polygon Research conducted a study and found that mortgage brokers can save consumers money versus other channels, such as retail. The research, which was supported by...
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Published on: 2024-08-28
Source:
The Truth About Mortgage
When it comes to securing a mortgage, understanding the nuances between different loan types can make a significant difference in your approval process. At MortgageDepot, we aim to provide you with the knowledge you need to navigate these complexities. One such area where loan types differ is in their treatment...
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Published on: 2024-08-27
Source:
Mortgage Depot
In an effort to boost affordability for those most in need, Rocket Mortgage has launched a new program called “Welcome Home RateBreak.” Similar to their Inflation Buster product rolled out two years, it is a lender-paid interest rate buydown. It allows home buyers to enjoy a discounted mortgage rate for...
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Published on: 2024-08-26
Source:
The Truth About Mortgage
At MortgageDepot, we understand that securing financing for non-warrantable condos can be a challenging process. Traditional lenders often shy away from these properties due to their unique characteristics and potential risks. However, our Non-Warrantable Condo program is designed to help you navigate these challenges and save your deal. Here are...
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Published on: 2024-08-21
Source:
Mortgage Depot