Mortgage Education Blog
Lifting the curtain on mortgage lending
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...
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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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...
Exploring the Real Estate Empire of LeBron James
LeBron James is not only known for his incredible talent on the basketball court, but also for his savvy business ventures, including real estate. The NBA superstar has built a significant real estate portfolio over the years, and it's worth taking a closer look at...
Why Did My Mortgage Payment Go Up Even Though It’s Fixed Rate?
When you have a fixed rate mortgage, you expect your mortgage payments to remain the same for the life of the loan. But what happens when your mortgage payment suddenly goes up? This can be a frustrating and confusing experience, especially if you're not sure what...
Supplemental Property Taxes: What You Need to Know
When you own a property, it's important to understand all of the taxes that come along with it. One of those taxes is supplemental property tax, also known as a "supplemental assessment." This is a tax that can be imposed on property owners in addition to their...
A Beginner’s Guide to Buying Your First Home
Buying a home can be an exciting and overwhelming experience, especially if it's your first time. There are so many things to consider, from location and budget to mortgage rates and closing costs. But don't let the process intimidate you - with the right guidance and...
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...
The Importance of a Home Inspection During the Home-Buying Process: Tips and Tricks
Here are some tips to keep in mind when it comes to a home inspection: 1. Don't skip the inspection: It's easy to get caught up in the excitement of finding the perfect property, but don't forget the importance of a home inspection. It's a crucial step in the...
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