Your Trusted Guide for Mortgages & Real Estate
I. The New Appraisal Form (UAD 3.6) Is Nothing To Worry About. I blogged about it in August, but I am touching on it again because we have been getting questions. TLDR: The new form will...
We live in the most interesting time ever for financial markets. Today is a case in point; if you don’t find today’s blog fascinating, I will refund your money. I. Interesting Thing #1:...
In 1929, famed economist Irving Fisher proclaimed that stocks had “reached what looks like a permanently high plateau.” More interestingly, he was one of thousands who thought similarly. Not so...
Two friends of mine panic-sold much of their stock portfolios in 2016 when Trump won his first election. Both missed out on significant gains, as stock prices (and interest rates) shot up...
A borrower recently asked about financing a 445 sq ft property on a 10,000 sq ft lot accessible only via a walking easement across the street-fronting property (no vehicle access).
I. 2nd Unpermitted Kitchens Are “Health And Safety Risks” & Not Allowed (Yank The Stove) This is a brief reminder that lenders don't allow homes with a second unpermitted kitchen, something we...
Just when you think rates can’t go any higher… they go higher. Many prominent analysts think they can go much higher too – all the way to 9% in some cases. Chris Whalen is one, as he...
I. “Caveman Issues Dire Warning That The Wheel Is Going To Eliminate Countless Jobs” I saw the headline above a few weeks ago and thought, “Man, I sure hope nobody […]
I. Rates Never Move In a Straight Line! (Why This Is So Important!) Rates have trended steadily upward since 2022 – and they are now back to levels we have not seen since 2023 (briefly) or the...
Woohoo! Rates fell today from 7.5% yesterday to 7.49% today! Refi boom? Probably not… but at least rates didn't go up today. A. Higher Asset Values + More Flexible Lending = More Ways to...
I. In Monday’s blog, I mentioned that sellers could offer a first-year rate of 4.49% with a 3-2-1 seller-paid buydown. This is what shocked me. I have blogged about temporary buydowns at...
Today’s average interest rate is 7.5%. In September of 2023, rates were higher – and by October, the average rate was over 8%. So, we have a full 1/2% to go before we even get back to 2023 rates....
Over the last few weeks, we have had at least a half dozen borrowers come to us for the first time after they were in contract to buy a home – and armed with another lender’s...
I. DSCR Loans Do Not Need to Cash Flow Debt Service Coverage Ratio (DSCR) loans that qualify buyers using only rental income (no other income documents needed) do not need to show positive cash...
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