Mortgage Articles and Advice

• How Much House Can You Afford?
• • Debt-to-income Ratios
  • Your Monthly Income - the way Lenders Figure it
  • Your Maximum Monthly Mortgage Payment
  • The Rest is Easy - Sort of
• Your Down Payment Affects Everything Else
• • AnalyzingYour Savings - the First Step
  • Mortgage Program Choices
  • Shopping for Interest Rates
  • Writing Your Offer
  • Conclusion - Look at Your Savings First
• Documenting Your Assets & Verifying Your Down Payment
• • You can't just "come up" with the money
  • Checking, Savings, & Money Market Accounts
  • Stocks, Bonds, Mutual Funds, etc.
  • Gifts from Family Member
  • 401K or Retirement Accounts
  • Selling Personal Property
  • Help from Employers
  • Savings Bonds
  • Borrowing to Come up with a Down Payment
• Where Does Mortgage Money Come From?
• • The Olden Days
  • How it works now
  • Mortgage Backed Securities
• Understanding Commercial Lending
• • What to Expect when Applying for a Commercial Mortgage Loan : Part 1 (new!)
  • What to Expect when Applying for a Commercial Mortgage Loan : Part 2 (new!)
  • What to Expect when Applying for a Commercial Mortgage Loan : Part 3 (new!)
• Different Types of Lenders
• • Mortgage Bankers
  • MortgageBrokers
  • Wholesale Lenders
  • Portfolio Lenders
  • Direct Lenders
  • Correspondents
  • Banks
  • Savings & Loans
  • Credit Unions
• Advantages of Different Types of Lenders
• • What kind of Lender is Best?
  • Portfolio Lenders
  • Banks and Savings & Loans
  • Mortgage Bankers
  • Mortgage Brokers
  • Wholesale Lenders
• When Realtors or Builders Recommend a Lender
• Things You Need When You Apply for a Home Loan
• • "Alternate" Documention versus Full Traditional Documentation
  • The Actual List of things you need to get a quick loan approval
• Closing Costs When Buying or Refinancing a Home
• • Introduction
  • Lender Associated Costs - the "normal" ones
  • Lender Associated Costs - the "other" ones
  • Items Paid in Advance
  • Impounds or Reserves
  • Costs not Associated with the Lender
  • Refinancing Associated Costs
  • Asking the Seller to Pay Closing Costs - Advice and Rules
• Mortgage Interest Rates - How it Works
• • A Loan Officer's Rate Sheet
  • Pricing the Loan
  • Quoting Rates to You
  • Locking in Your Rate
  • Shopping for Rates
  • Getting Reliable Quotes