Page: Blog

How do I get the best mortgage rate when buying a home?

It seems diligent to shop for a mortgage loan but without understanding the relationship between lenders and the rate you get; you are almost worse off shopping for a mortgage than not shopping for one.  This sounds crazy so let me explain. Rates (mortgage securities) are traded on the secondary market much the same as Tesla […]

Is a mortgage broker cheaper than a bank?

Money is a commodity much like wheat, silver, oil and gold.  One pound of wheat from one place is the same as one pound of wheat from another place.   To get more business, big banks like Wells Fargo would have you believe their money is better.  This is done with fancy banks with marble […]

How much money do I need to buy a house?

The bottom line is you might be able to buy a house for as little as $1,600.   Zero down payment ($0), $1,000 to give the seller as an earnest money deposit (EMD), and $600 for the appraisal.  Yes, I’ve had that happen, but it’s not a realistic expectation.  There are programs like down payment assistance […]

What is the difference between a 2nd mortgage and a HELOC?

There are so many loan terms floating around it is hard to keep track. Just recently I had a borrower tell me he wanted a HELOC, not a second mortgage. Well, we had gotten him a HELOC and it was a second mortgage. With that confusion I thought this was something that should be addressed. […]