Mortgage Education Blog
Lifting the curtain on mortgage lending
Understanding Prepaid Interest and the Loan Estimate When Refinancing Your Mortgage
When you refinance your mortgage, you may be wondering why there is a charge for something called "prepaid interest." Essentially, prepaid interest is the interest that accrues from the date of closing until the end of the month. Mortgage interest is paid in arrears...
Congratulations, Your Offer Has Been Accepted! Next Steps for New Home-Buyers
You've found the perfect home and your offer has been accepted by the seller, congratulations! However, the process isn't over yet. There are still several important steps that you'll need to take before you can move into your new home. In this article, we'll discuss...
3 Reasons Not to Wait to Refinance after Purchasing
Did you know that you can refinance your mortgage just after buying your home? Most people think you need to wait, anywhere from 6 months to a year, but Fannie Mae and Freddie Mac, the two government sponsored enterprises have no waiting period. So if you just bought...
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Why Putting 5% Down vs. 20% Down Creates a Financial Arbitrage Opportunity
As a first-time homebuyer, you’ve probably heard a lot of advice about the importance of putting 20% down to avoid Private Mortgage Insurance (PMI). While this might seem like the smarter move, there’s another side to the story that often goes overlooked. In fact,...
Pros and Cons of Hippo Insurance | June 2023
When it comes to protecting your home, choosing the right insurance provider is crucial. Hippo Insurance has gained attention as a modern and innovative player in the homeowners insurance market. In this blog post, we will examine the pros and cons of Hippo Insurance...
Understanding Mortgage Rates and Credit Scores
When it comes to securing a mortgage, your credit score plays a vital role in determining the interest rate you'll be offered. In this article, we'll address common questions and misconceptions related to credit scores and mortgage rates to help you better understand...
How to Buy a New Home Without Selling Your Current Home
Buying a new home is a big decision, but it can be even more complicated if you don't have the money to sell your current home first. However, there are a few ways to buy a new home without selling your current home. 1. Convert your existing primary into a rental...
15 Must-Ask Questions when Interviewing Real Estate Agents: Find Your Perfect Match!
Buying or selling a home can be a stressful and overwhelming experience. That's why it's important to find the right real estate agent who can guide you through the process and help you achieve your goals. But how do you know if a real estate agent is right for you?...
The Most Annoying Aspects of Shopping Around for Mortgage Lenders
When it comes to buying a home, obtaining a mortgage is a crucial step in the process. However, shopping around for a mortgage can be complex and time-consuming, and there are sveral aspects of the process that can be frustrating for applicants. In this article, we'll...
Is Adam Neumann the worst business operator in the history of capitalism?
There has been a lot of talk about Adam Neumann's new startup Flow and the implications that the infamous founder of WeWork was able to fundraise $350M at a $1B valuation right out of the gate. Some argued Adam Neumann is a visionary and radically changed how and...
Finally! FHA Announces Mortgage Insurance Relief
Short point: FHA MIP premiums drop from 0.85 to 0.55 saving FHA borrowers thousands. ---- On February 22nd, 2023, the United States Department of Housing and Urban Development (HUD) announced details of their long-awaited FHA Mortgage Insurance Reduction Relief...
Is it Smart to Waive a Home Inspection When Buying a Home?
One of the most important steps in the home buying process is the home inspection. A home inspection is a thorough examination of the property by a licensed inspector, which can help identify any major or minor issues with the property. However, some buyers may be...
5 Tips for Navigating the World of Real Estate
1. Start with a Plan Before you begin the process of buying a property or securing a mortgage, it's essential to have a clear plan in place. Take the time to assess your current financial situation and determine what you can afford. Consider your short- and long-term...
Why Home-Buyers are Choosing SELFi over Better Mortgage
Examining why home-buyers, especially first-time home-buyers, are choosing SELFi over Better Mortgage. 1. Rate Table Transparency The SELFi rate table empowers home-buyers to view real, accurate, and customized up-to-minute mortgage rates without providing personal...
Understanding Appraisal Bias and Its Impact on Real Estate Transactions
Appraisal bias is a significant issue in the real estate industry that can have far-reaching consequences. It occurs when an appraiser's personal opinions or beliefs influence the valuation of a property, resulting in appraisals that are not impartial or accurate. In...
10 Ways to Save for Down Payment
1. Start Saving Early The earlier you start saving for a down payment, the more time you have to accumulate funds. By starting early, you'll have more time to save money and you'll be able to take advantage of compound interest, which can help your savings grow...
Amazon’s Next Move: Will the Retail Giant Disrupt the Mortgage Industry
It's no secret that Amazon.com is one of the largest and most successful companies in the world. With a market capitalization of over $1.0 trillion and operations spanning across a wide range of industries, the company has established itself as a major player in the...
Can You Really Get a Mortgage in One Day?
At Inman Connect, Vishal Garg, CEO of embattled and increasing higher priced mortgage lender Better Mortgage, launched One Day Mortgage. Is it real? The short answer is: no, you cannot get a mortgage in one day. Why? Because under Federal Law, the lender must...
What Happens When Your Mortgage is Sold to Another Lender
If you're a homeowner, you may have recently received a notice in the mail or via email that the lender you make your mortgage payments to has changed. This can be a confusing and unsettling experience. It's important to know that it's a common practice in the...
The Best Mortgage Calculators for Your Home Buying Needs
When it comes to buying a home, one of the most important things to consider is your mortgage. Understanding the costs associated with your mortgage, including your monthly payment and the total interest and principal you'll pay over the life of your loan, is crucial...
Understanding the Importance of a Preliminary Title Report
When buying or refinancing a property, a preliminary title report is a crucial step in the process. This document, also known as a "prelim," is prepared by a title company and outlines the condition of the title to a specific property. In this post, we'll explain what...
Special Considerations When Buying a Home in Houston, Texas
Houston, Texas is a vibrant and diverse city known for its culture, food, and energy industry, so it's no wonder folks want to purchase a home in Houston. But when it comes to buying a home in Houston, there are a few special considerations to keep in mind. 1....
Understanding Prepaid Interest and the Loan Estimate When Refinancing Your Mortgage
When you refinance your mortgage, you may be wondering why there is a charge for something called "prepaid interest." Essentially, prepaid interest is the interest that accrues from the date of closing until the end of the month. Mortgage interest is paid in arrears...
How to Stop Spam Phone Calls after a Mortgage Application: A Guide to Opting Out and Protecting Your Privacy
You shop around, you find a great mortgage broker, and you take the leap and apply. What happens next... Ring-a-ling!!! You start receiving unwanted spam phone calls and text messages from other mortgage companies with hyper-aggressive sales agents. Well, that's...
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