If your local lender is our team at Mason Mac, then yes, you should always use the local lender. We kid, we kid...ok, maybe we're serious. There is a perception when shopping for a mortgage that's often shared by real estate agents, and that is that the local lender is always a better option than... Continue Reading →
When Disaster Strikes, Know Your Options Unfortunately, Hurricane Harvey has given us a reason to bring up a tough topic. Disasters are a sad reality of life, and the potential for them is everywhere, whether it be the result of a hurricane, earthquake, tornado, flood, volcano, or something man made. When disaster strikes, one... Continue Reading →
What Mortgage Options Are Available With Less Than 20% Down? One of the biggest mortgage mysteries is how much money is needed as a down payment when purchasing a new home. This question is often misunderstood, but also involves a lot of misconceptions. One rumor that won't seem to die is that to buy a... Continue Reading →
If you're wondering if a non-citizen can get a mortgage in the US, the short answer is yes. The longer answer is also yes...but with a few additional details and restrictions. Straight from the Fannie Mae selling guide (the book that lenders use to determine eligibility for conventional loans): "Fannie Mae purchases and securitizes... Continue Reading →
Learning How Much Mortgage You Can Qualify For It's one of the most frequently asked questions when someone begins their search for a home. "How Much Mortgage Can I Qualify For?" is one of the most important questions someone can ask, because it will help determine what type of home they will look for, what... Continue Reading →
Post-housing market collapse, getting a mortgage got tough. Rather than a joyous experience and a simple process, the journey from application to closing on a mortgage loan sat in the same realm as root canals, DMV visits, insurance claims, and getting faulty credit fixed. Since that time (nearly a decade ago!), much has changed, but... Continue Reading →
Fannie Mae lightens up on Student Loan Mortgage Rules This Spring, Fannie Mae released big changes to the way they'll allow mortgage companies to underwrite loan files involving student loans. The student loan mortgage rules will now be more borrower-friendly, and will allow lenders to implement some common sense into underwriting loans for borrowers with... Continue Reading →
November home prices grew by 5.60 percent year-over-year on a seasonally adjusted basis according to Case-Shiller's reading on National Home Prices. National average home prices rose 0.80 percent from October to November. Case-Shiller's 20-City home price index revealed that the West and Mountain regions continue to hold the top three growth rates for home prices.
If you've recently graduated from college, or will be graduating soon, and plan to become a homeowner, you're in a somewhat unique position. You're about to embark on a great journey, but at the same time, you may also be taking on an awful lot of debt. That said, it is possible to successfully manage a high debt load if you're careful.