Do you Have to Be a Citizen to Get a Mortgage?
Myth Buster of the Week: True or False: You must be a citizen to get a mortgage. FALSE! Your client can have a resident alien card and she can even be on a work Visa with no credit in the US and still qualify for a loan. We are one of the few mortgage brokers with a...
How to Increase Cash Flow Even if You’re Retired
A client called this week saying that he had to buy a property for his mother because she doesn’t have an income. I asked if she had social security, pension, IRAs and he said, “Yes.” We were able to save him .25% in interest by having her be the borrower and he as...
No PMI with 10% Down – You Bet!
If you’re in the market for a new home, but you have less than 20% to put down, you may not have to pay PMI! How is this possible? With an old loan that is NEW again. It’s called the Piggyback or 80-10-10 loan. PMI or Private Mortgage Insurance is an insurance policy...
How Do You Know if Your Property Taxes Are Impounded?
Question: I just received a property tax bill. Do I pay it, or are my taxes and insurance included in my monthly mortgage payment? Answer: That’s a great question. Having your taxes and insurance included in the mortgage payment, and therefore collected by your...