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Watch Out for these Mortgage Application Deal-Killers

house-of-cardsThe mortgage process can be a lot like a house of cards. It is carefully, and painstakingly put together to build the perfect structure – or in this case, an approved loan. Then just as the ink is drying on your final loan papers, someone pulls the virtual card (aka deal killer) from the bottom and whoosh! – the house of cards and your loan come crashing down. A mortgage loan approval is never final until it’s funded.

Mortgages are made up of many moving parts, any of which might “go wrong” while your home loan is underway. We get so focused on getting the best interest rate, and we forget there is much more to this process than picking a loan officer, locking your rate and waiting 30 days till you close. Read the rest of this entry »

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Posted by on August 15, 2013 in Mortgage Tips


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Are You Moving? Check Your New Cost Of Living Estimates

Cost of Living adjustments in a new townAs a lender in Sacramento, I don’t typically have this conversation with my clients because we jump right into Mortgage and Real Estate stuff. With home values slow to rise and mortgage rates at all-time lows, there’s never been a more affordable time to own a home.

However, there is more to the cost of living than just a mortgage payment. There’s the cost of groceries, gasoline and getting your hair cut, too.

Not surprisingly, where we live affects our costs. Big cities are often more expensive to live, and local tax laws influence daily costs, too.  Read the rest of this entry »

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Posted by on June 13, 2012 in Personal Finance


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A Few Reasons Why You Might Not Get The Rate Advertised: May 21, 2012

Existing Home Sales Mortgage rates improved last week on lingering concerns for the European Union, plus weaker-than-expected economic data here at home. Global investors were net buyers of mortgage-backed securities last week, pushing mortgage rates lower nationwide.

According to Freddie Mac’s mortgage rate survey, conforming 30-year fixed rate mortgage rates slipped to 3.79%, on average, last week for borrowers willing to pay 0.7 discount points and a full set of closing costs.

This is the lowest on-record. Read the rest of this entry »

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Posted by on May 21, 2012 in Mortgage Rates


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