Author name: Adriana Lemus

Refinancing can significantly lower monthly payments and refinancing can reduce the overall interest paid over time if you secure a lower interest rate without extending the loan term. However, resetting to a new, longer loan term, even with a lower rate, can lead to paying more in total interest due to the extended period over […]

Bi-weekly mortgage payments accelerate loan payoff and save interest by making an extra full payment annually. This strategy, achieved by paying half the monthly amount every two weeks, significantly reduces the principal faster. Because compound interest can significantly increase your total mortgage cost, reducing the principal more frequently also reduces the base on which interest

Comparing fixed-rate and adjustable-rate mortgage options, a 5/1 ARM offers a lower initial rate for five years, then adjusts annually. In a rising rate environment, this provides short-term savings but carries the risk of payment shock after the fixed period. It’s suitable for those planning to sell or refinance before the adjustment, while a fixed-rate

The blog clarifies the difference between “Clear to Close” and “Final Approval” in the mortgage process. Final Approval means your loan is nearly complete but still difference between Clear to Close and closing has pending conditions, while Clear to Close confirms all requirements are satisfied, and closing documents can be prepared. It also highlights key

Have you ever wondered if you qualify for a VA loan—or what it really takes to get approved? Whether you’re an active-duty service member, a veteran ready to buy your dream home, a real estate agent helping military clients, or a seasoned investor considering VA loan strategies, it’s critical to understand the essential VA loan

Blanket mortgages, while simplifying financing for multiple properties, carry significant risks involved in using a blanket mortgage. Key pitfalls include cross-collateralization, where defaulting on one property jeopardizes all, and overlooking balloon payments that require a large lump sum repayment. Borrowers must also avoid neglecting an exit strategy, using them for a primary residence, underestimating property

Even after being Clear to Close, mortgage delays can still occur due to last-minute issues like title defects, delays even after being Clear to Close. These delays after Clear to Close often stem from third-party verifications, documentation errors, or changes in borrower finances. Understanding and proactively managing these risks can help ensure your mortgage closes

2-1 vs. 3-2-1 Buydowns: Which Mortgage Structure Is Best for You?In today’s housing market, temporary interest rate reduction strategies like 2-1 and 3-2-1 mortgage buydowns offer homebuyers ways to ease initial financial burdens. A 2-1 buydown reduces the rate by 2% in year one and 1% in year two, while a 3-2-1 buydown offers 3%,

A clear chain of title complements your title insurance by verifying legal ownership history, helping catch risks before closing. how a clear chain of title complements your title insurance But title insurance protects you after the sale—covering financial loss from issues like liens, forged deeds, or undiscovered heirs. While a clean chain offers insight, it’s

Lenders use basis points (BPS)—where 1 BPS equals 0.01%—to fine-tune mortgage pricing based on market trends, credit risk, and profit margins. why mortgage lenders use basis points Even a small change, like 25 BPS, can significantly impact monthly payments. Mortgage lenders rely on BPS to adjust rates in response to shifts in bond yields, borrower