Author Archives: theloanman

Is it wise to pay extra on your home mortgage?

  Whether or not you should pay down your mortgage depends upon your plans and the other circumstances in your life. Let’s take a look at the pros and cons. First, the pros… Your mortgage will be paid off sooner. … Continue reading

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Why don’t the APR and my Interest Rate match?

  More than one home buyer has been startled to read the APR on their loan closing statement and see that it isn’t the same as their quoted interest rate. They react with “Wait a minute! This isn’t right!” What … Continue reading

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What is a bridge loan, and why would you want one?

What is a bridge loan, and why would you want one? Bridge loans aren’t common, and they definitely aren’t for everyone. But in the right circumstances, they’re a useful tool. What is a bridge loan? A bridge loan is a … Continue reading

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What Texas Homebuyers Need to Know About Earnest Money

  When you’ve found the home you want to purchase, you’ll sit down with your real estate agent to fill out the required paperwork. One of the primary questions, after the price you’re offering and the amount of your down … Continue reading

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Should you choose an existing home or build a new home?

Whether you’re considering your first home purchase or are ready for a change, you may be considering both existing homes and new homes. Which costs less? Which will give you more of what you want in a home? Which will … Continue reading

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Is Recasting Your Mortgage Loan Right for You?

If you’ve never heard of recasting a mortgage loan, don’t be surprised. It isn’t generally advertised, and the method isn’t widely used. And yet, it might be of benefit to you. What does recasting a mortgage loan entail? Briefly, it … Continue reading

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Untangling the gifted down payment puzzle…

If you want to buy a home, are short on down payment funds, and have a relative with the money and the desire to help you, it’s time to celebrate! However, you will need to follow a few rules. First, … Continue reading

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Will checking your credit harm your credit rating?

When you’re planning to purchase a new home, you naturally want your FICO credit score to be as high as possible. As a result, you may be getting plenty of advice on what to do and what not to do. … Continue reading

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How to choose the right mortgage lender for you

When you want to purchase a home, the two people most important to your success are your real estate agent and your mortgage lender. Your agent will be instrumental in helping you find the right house, then negotiating the most … Continue reading

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What Affects Mortgage Rates?

If you ever use the Internet or open a newspaper, you’ve seen ads from home mortgage lenders advertising their low interest rates. You may have even contacted one of those lenders, only to learn that the advertised rate only applies … Continue reading

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