What questions will a mortgage lender ask?

Millions of mortgage applications are completed and sent to lenders each year. Part of the steps required include the lender gathering information about you—and sometimes those questions can seem invasive. Most of the questions are required as part of your approval. Let’s take a look at the things a mortgage lender will ask. Credit Lenders […]

Getting a great mortgage rate

The mortgage industry examines a number of factors to determine not only if you qualify for a mortgage, but also what interest rate you’ll pay. An excellent rate on a mortgage is about a lot more than comparison shopping. It’s also about much more than just your credit score. Mortgage rates can differ by several […]

What to do when you’re buying and selling at the same time

Lone Star Financing

You’re not going to close on a new home the exact same day you sell your old home if you’re in the process of buying and selling at the same time. You’ll have to rely on potential buyers and the current state of the market. There have been no offers on your current home, but […]

What’s the best mortgage length for you?

If you’re unprepared, buying a home can be a dangerous venture. If you aren’t well informed, not understanding your options could wind up costing you thousands, or tens of thousands, of added dollars. Aside from choosing the house itself, is the type of mortgage you’ll choose and the length of your loan. Fixed vs. Adjustable […]

Pros and Cons of Extra Mortgage Payments

After a few years and perhaps discovering more financial flexibility, many homeowners begin to wonder if they should make extra mortgage payments. The thinking is that extra payments can save in interest and bring you closer to actually owning your home. While this is a good idea, there are also reasons why you might not […]

Today’s Low Interest Rates

In the sixth straight week of decline, the 30-year fixed-rate mortgage averaged 3.82% for the week of May 30. This is down from 3.99%. It was the lowest level since September 2017. Borrowers are receiving exceptional rates compared to last year at this time, when 30-year mortgages were averaging 4.54%. The monthly payment on a […]

Mortgage Applications on the Rise

Mortgage applications to purchase a home rose recently and were 7% higher than a year ago. Purchase applications reached their highest level since April 2010. While total mortgage application volume decreased 3.5% during the same time, according to the Mortgage Bankers Association’s seasonally adjusted index, overall volume was 14% higher than a year ago. Purchase […]

What to Ask Your Lender before You Commit

talk to a mortgage lending professional about low and no down payment options

Which mortgage is the right one for me? When you want to know what your options are for each type of loan discussed, the mortgage lender should tell you the pros and the cons in light of your particular situation. In this article, we’ll look at what to ask your lender before you commit. Questions […]

Mortgage Protection Insurance

Mortgage Payment Protection Insurance (MPPI) or Mortgage Protection Insurance (MPI) can be described as life insurance equal to the amount of your mortgage. Neither of these should be confused with Private Mortgage Insurance (PMI). They are totally different things. PMI is charged to you each month along with your mortgage payment to protect your lender […]