With the likelihood of rates dropping, preparation and advance planning is key. We’ve collected some key strategies and advice that might apply to your circumstances. Those action steps may look different, depending on your goals. Also, you don’t need to gamble or play “Deal or No Deal” trying to time rates. We’ll show you how …
Our hearts go out to everyone impacted by the devastating wildfires in Los Angeles. Beyond the immediate trauma and loss, these events bring critical questions for homeowners, especially regarding mortgages and financial stability. Here’s what you need to know to navigate these challenges: Mortgage Responsibility Remains Even if your home has been damaged or lost …
LA Wildfires: Understanding Mortgage Relief Options Read More »
The housing market’s complexity requires various regulations to ensure both borrower protection and lender stability. One such regulation, crucial for maintaining the balance, is the 3% Qualified Mortgage (QM) rule. Introduced after the 2008 financial crisis, this rule aims to safeguard borrowers from risky lending practices and ensure lenders conduct responsible underwriting. Let’s delve into …
Understanding the 3% Qualified Mortgage (QM) Rule: A Key Regulation for Safe Lending Read More »
Buying a home can be complicated, especially when understanding the different types of mortgages. Qualified mortgages (QMs) are loans that follow specific rules to make sure they are safe and affordable for borrowers. Let’s break down the four main types of QMs in a way that’s easy to understand. 1. General Qualified Mortgages What They …
The Four Types of Qualified Mortgages: A Simple Guide Read More »
When it comes to securing a mortgage, not everyone fits the mold required for a traditional, qualified mortgage (QM). Nonqualified mortgages (non-QM) can provide a viable path to homeownership for those who find themselves outside these conventional boundaries. In this blog, we’ll explore what non-QM mortgages are, who they are for, and the pros and …
Understanding Non-QM Mortgages: A Comprehensive Guide Read More »