Real Estate and Mortgage Tips
Rookie Real Estate Mistakes
May 01, 2019  |  

If you want to jump into the housing market with a little more credibility – read up on the mistakes you should avoid.  The more you know….right? Basing your home price on the max amount you qualify for. You really need to like your mortgage payment as much as you love the house.  Otherwise, you […]

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Real Estate and Mortgage Tips
Appraisals
April 23, 2019  |  

An appraisal is key component in the home buying process, especially if you are using a mortgage.   Those paying cash for a home have the option to waive an appraisal, but many still get one.  So what is an appraisal and what purpose does it serve for loan approval?  An appraisal is designed to determine […]

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Real Estate and Mortgage Tips
The Escrow Process
April 23, 2019  |  

Around here, we try to do as much of the mortgage process as we can before you find the perfect home.   My goal is to qualify buyers completely, narrow down loan programs and finalize down payment strategy…all before they make an offer on a home.  So once you’ve done all of your mortgage homework and […]

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Real Estate and Mortgage Tips
Wire Fraud – How to Protect Yourself from a Major Scam
April 19, 2019  |  

As technology advances, it’s become more and more integrated in the mortgage process.  At this point you can obtain financing entirely online and via email communication – which is great for convenience, but unfortunately it’s opened the door for wire fraud in a very scary way. In the real estate industry, wire fraud has jumped […]

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Real Estate and Mortgage Tips
Is FHA the lowest down payment option?
April 09, 2019  |  

Qualifying for 3% down on a Conventional Loan… Many people still assume that FHA is the lowest down payment option when it comes to buying a home.  However in 2014, both Fannie Mae and Freddie Mac released conventional loan programs allowing for a 97% loan-to-value…meaning 3% down on primary residence purchases.  FHA requires a minimum […]

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Real Estate and Mortgage Tips
Congratulations, you closed on your new home purchase!
March 19, 2019  |  

What’s next on your path to financial success?!  You can’t stop here.  After settling in and allowing a few months for the moving expenses to subside and your budget to settle into this new flow – there are a few more building blocks for you to add to your financial foundation. Emergency Savings Ideally, you […]

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Real Estate and Mortgage Tips
The Pre-PreApproval Process
March 19, 2019  |  

Usually my first point of contact with buyers is when they are ready to jump into the housing market and therefore need a pre-approval sorted out.  They need to find out how much they can afford in terms of a house price, how much they need to have saved up for their down payment and […]

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Real Estate and Mortgage Tips
Automation vs. Human Interaction – Which one is really more convenient?
March 18, 2019  |  

That’s actually a trick question, it should be “Which one is more convenient for the client?”  Let’s consider the mortgage experience (what did you think we were going to talk about?).  Would you prefer to do everything online or through an app on your phone, without ever being bothered to talk with anyone? Or, would […]

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Real Estate and Mortgage Tips
When it comes to financing – the sooner you know, the better.
March 05, 2019  |  

It’s always interesting to me when I hear the things people are nervous about, heading into a pre-approval meeting.  By now, especially if you’ve followed any of my previous content, you know that the best thing to do when you start considering buying is to meet with your lender.  I’ve found over the past few […]

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Real Estate and Mortgage Tips
When the mood strikes – to buy a home – who do you call first?
February 26, 2019  |  

If you were headed out to buy a car today, you would likely have a budget in mind.  Impulse shopping aside – usually when we are looking to make a purchase, we know our limits.  Even clothing shopping – we have our go to stores, sections and sales.  There are certain stores we save for […]

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Real Estate and Mortgage Tips
Who’s got it better – W2 Wage Earners or Self-Employed Borrowers?
February 11, 2019  |  

I recently had a conversation with a self-employed borrower who felt like the mortgage qualification gods were out to get him.  We often hear from business owners that the income guidelines for mortgages seem stacked against them.  The statement I hear the most is: “There is no guarantee that a regular employee won’t lose their […]

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Real Estate and Mortgage Tips
Did you know a seller can pay off a buyer’s debts to qualify them for the loan?
February 05, 2019  |  

That was a click-bait headline. Before you stop reading – it is true, for VA loans. Our current market has softened a bit, which is putting sellers and buyers in a unique situation. We have quite a few sellers who have identified their next home, are in contract to purchase it….subject to selling their home. […]

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Real Estate and Mortgage Tips
“Move Up Buyers” – Making the largest down payment will keep your expenses the lowest right? Wrong!
January 21, 2019  |  

A move-up buyer is just as the name describes – someone who owns their home currently and wants to sell it to buy something bigger or better.  Many move-up buyers plan to use all of the proceeds from the sale of their current home towards the down payment on their new home.  The goal is […]

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Real Estate and Mortgage Tips
3 Questions More Important than Rate
October 26, 2018  |  

Often, clients begin their first conversation with a lender by asking about interest rates and fees.  Important questions to consider on a purchase as substantial as real estate but in fact, those are not the most important questions.  After years of behind-the-scenes experience in the mortgage industry and specifically seeing first-hand how many things can […]

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Real Estate and Mortgage Tips
Student Loans and Homeownership – Can they coincide?
April 05, 2017  |  

  We know that levels of home ownership rise amongst those with higher levels of education.  However, we also know that as that level of education rises, typically so does the amount of debt required to attain it.  These two trends get interesting when you compare the level of home ownership between college graduates who […]

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Real Estate and Mortgage Tips
Well Qualified and Financially Savvy? Getting a mortgage might be harder for you.
February 14, 2017  |  

I have a joke I like to make that a McDonald’s employee will have an easier time getting a mortgage than a real estate investor purchasing his seventh property.  That may not make sense to most – but a lot of what we do as mortgage professionals involves explaining why 1 + 1 might look […]

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Real Estate and Mortgage Tips
Move Up Buyers
February 07, 2017  |  

What you need to know about stepping into the jumbo market… Here in Reno, we are seeing quite a few buyers getting ready to make their second home purchase.  These are the clients we tend to call the “move-up buyer”.  Their first house was quaint, cozy and a solid investment.  They spent a few years […]

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Real Estate and Mortgage Tips
Self Employed and Buying in 2017?
February 02, 2017  |  

We are in that sweet spot of the year for self-employed borrowers – especially if buying a new home is one of their goals for 2017.  For those who own their business or work independently as a 1099 employee, taxes are little more complicated than the average W2 employee.  There are typically quite a few […]

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Real Estate and Mortgage Tips
Did You Miss The Boat on Buying a Home?
January 19, 2017  |  

Over the weekend a good friend asked me if I would buy right now, knowing what I do about the market.  He currently owns his home and has plenty of equity he could use as a down payment on a bigger home.  His concern, like many others in the market right now, was that homes […]

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Real Estate and Mortgage Tips
An LO’s Guide to Choosing a Realtor
January 11, 2017  |  

From someone in the real estate industry here in Reno – the term real estate “professional” gets thrown around lightly sometimes.  That may sound harsh but I just typed Reno into an MLS search for a realtor and got almost 2,000 results.  It’d be nice to think that all of those were market savvy, full-time […]

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