Author Archives: theloanman

Bad credit-building advice – ignore these 7 myths

Before you apply for a home mortgage loan, it’s best to get your credit in the best shape possible. The higher your scores, the lower the interest rate you’ll be charged. And of course, if your scores are too low, … Continue reading

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What is underwriting, and why can’t you skip it?

Mortgage loan underwriting is a necessary and required step in getting a mortgage loan, but it doesn’t have to be an ordeal. And, while many believe it can take more than a week to complete, that isn’t necessary either. Underwriting … Continue reading

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Still searching for a house? How to protect your down payment money.

You’ve saved up the typical 5-20% for a down payment, but haven’t yet been able to purchase a house. What should you do with that money as you continue the search? The answer depends a great deal on your future … Continue reading

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If you’re planning to buy a new home – postpone buying a new car

If you’ve already been pre-approved for a home mortgage loan, your loan officer will have told you not to do anything that will change your financial picture. That includes making any large purchases, obtaining new credit for any reason, co-signing … Continue reading

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Refinancing: Which lender should you choose?

If you’ve been watching interest rates coming down and thinking about a refinance, you may be wondering whether to go back to your current lender or look around for a new one. The beauty of refinancing with your current lender … Continue reading

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Why Refinance Your Mortgage in 2021?

If you have a home mortgage, you’ve probably been getting letters from a variety of mortgage companies, urging you to refinance right now. Should you pay attention to them? Yes. There are several reasons why you should, although rather than … Continue reading

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Can your home help you lower your income tax obligation?

The answer is “It depends.” Now that the standard deduction has been raised to $12,400 for individuals, $18,600 for heads of household, and $24,800 for married couples filing jointly, you may gain more by taking the standard deduction. However, it … Continue reading

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Fleeing the city? Consider a USDA home mortgage loan.

What? You’re not a farmer. Why and how could you get a home loan offered by the U.S. Department of Agriculture? The idea that you have to be a farmer to be eligible for a USDA backed home loan is … Continue reading

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2020 Mortgage Myths

  2020 Mortgage Myths Life in 2020 is a time of confusion, especially for the real estate and mortgage industries. What are the rules this week? Will interest rates continue to fall or are they going up soon? How has … Continue reading

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Appraisal waivers – a benefit from COVID-19?

  Homeowners refinancing today are often surprised to hear that they’ve been granted an appraisal waiver – saving them hundreds of dollars. But what is it, and why are banks offering it? Being granted an appraisal waiver means that you … Continue reading

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