Mortgage Education Blog

Lifting the curtain on mortgage lending
Do you know about wholesale interest rates?

Do you know about wholesale interest rates?

I always tell people, the biggest competition for SELFi is consumer misunderstanding. The more knowledgeable a customer is about mortgage rates, the more likely SELFi will earn his or her business. So we are in the education business just as much as the mortgage...

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3 Companies that Failed to Disrupt Real Estate

3 Companies that Failed to Disrupt Real Estate

Disclaimer: The perspective and opinions of this article are based on the author's perception. Consult with your financial adviser for any investing questions.   Compass, Inc. (COMP) | Amount Raised: $1.5B| Market Valuation: $1.049B   Real Estate Segment:...

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How to Read a Loan Estimate like a Mortgage Pro

How to Read a Loan Estimate like a Mortgage Pro

In a nutshell: 1) Check if the rate is locked in the top-right hand corner.  2) Check Origination Costs in Section A. 3) Compare against lender credit in Section J. 4) Disregard escrow and prepaid taxes and insurance - that will be the same regardless of lender.  5)...

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Refinancing and Divorce: What You Need to Know

Refinancing and Divorce: What You Need to Know

A theme that has come up with borrowers quite often in my experience are the mortgage unknowns following divorce. The primary question potential borrowers have when contemplating a refinance following a divorce is – Do I qualify?  Without being sure whether a new...

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3 Home Loan Options for Bad Credit

3 Home Loan Options for Bad Credit

You call your bank or a large lender on TV and they tell you, "Sorry, your credit score is too low. We require a 600 credit score". And if you're like millions of potential home-owners, you give up your search to buy a home right there. Years go by while you continue...

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3 Simple Steps to Shop Homeowners Insurance

3 Simple Steps to Shop Homeowners Insurance

The key to avoid over-paying on your homeowners insurance is to shop around once a year, usually 60 to 90 days before your renewal. Insurance companies will often attractively price their initial policy quote with the intention to raise prices year-over-year. Here's...

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January 21st, 2022: Market Update

January 21st, 2022: Market Update

For today, January 21st, 2022, the current average mortgage rate on the 30-year fixed-rate mortgage is 3.56%, the average rate for the 15-year fixed-rate mortgage is 2.79% according to FreddieMac.    Compare those rates to the historic low rates we saw in late...

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Rocket Pro TPO Raise Conforming Loan Limits

Rocket Pro TPO Raise Conforming Loan Limits

With home prices rising across the country, the Federal Housing Finance Agency is expected to raise their conforming loan limits next month. Rocket Pro TPO, the wholesale channel of Rocket Mortgage that works with mortgage brokers, anticipates $625,000 as the new 2022...

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A Retiree’s Guide to Mortgage Refinancing

A Retiree’s Guide to Mortgage Refinancing

Congratulations, you’ve made it to retirement. Now what? Golf, travel, relax by the beach, refinance your mortgage. Say, what? Conventional wisdom holds that you shouldn’t have a mortgage to pay by the time you are retired. After all, a life free of mortgage payments...

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