If you have been paying attention to the recent news surrounding the economic stimulus package, you know that conforming loan limits are set to rise.  Old limits of $417,000 are being changed on a county by county basis, based on the median home prices for that particular county.  That is good news for the housing […]

Posted in Current Events No Comments »

In commercial lending, it is important to understand and know how to evaluate the income of a commercial property.  Today I am going to go over some basics on evaluating income on a commercial property.
There are two basic foundations for evaluating a commercial properties income.  You have contract rent and market rent.  Contract rent is […]

Posted in Broker Resources, Commercial Lending, Terms & Definitions 2 Comments »

 
A reverse mortgage is a loan that you can take out on your home and not have to make payments on for as long as you live in the home.  These loans are for older borrowers (you must be 62 or older), and are very good options for retired individuals as you do not need […]

Posted in Loan Types No Comments »

 
30 year fixed mortgages have been extremely popular these days.  With the rates near historic lows, and the negativity towards adjustable loans and the subprime mess, they sure make a lot of sense.  There is another option that has not been getting a lot of press lately, and could be a very good option for […]

Posted in Loan Types No Comments »

 
Yesterday I talked about the two major mortgage insurers and their tighter mortgage insurance requirements.  The new requirements could spell an end to much, if not all, of the 100% financing that is currently available.  Today I’m going to talk about mortgage insurance in general, and when it is required.
Mortgage insurance is typically required on […]

Posted in Terms & Definitions No Comments »