Mortgage & Refinancing FAQs

Your credit history is one of the most important factors in determining what you could be approved for. Your credit history impacts your interest rate, down payment options, amount of monthly PMI you will pay if you're not putting down 20%, loan programs you're eligible for, and how much you can borrow.

Check out the rest of the answer in this video!

Everybody wants the lowest interest rate. After all, most consumers assume that the lower the interest rate, the cheaper it is to borrow money. The truth is , the lower your interest rate, the lower your payment is, not necessarily the cost to borrow money.

Check out this video to learn more!

In the past, I would have clients tell me, "I have no interest in participating in a bidding war," and then they would choose to move on to the next property. Most of these clients learn very quickly that the bidding war is not something they could avoid if they were serious about purchasing a property, and it's probably going to be this way for the near future. So instead of getting stressed out over something that's completely out of your control, let's focus on how to win that bidding war.

Check out my tips on how to win a bidding war in this video!

So you want to purcahse or refinance a home and you have no clue how much anything costs or how much cash you're going to need. Now, you can start by Googling "how much are my closing costs" or, take note of these two important tips that save you time and heartache.

Get my tips on understanding closing costs in this video!

So what does the Federal Reserve have to do with interest rates? Alright, so you're sitting at home on your couch watching TV with a glass of your favorite Cabernet. All of a sudden, you see this breaking news bulletin scroll across the bottom of your screen. "Federal Reserve lowers interest rates to 0%." Now, put the glass of wine down before your get too excited. This news may not cover the cost of replacing the rug you may have ruined if you drop it.

Check out this video to find out how the Federal Reserve impacts mortgage rates!

So, when should you get a pre-approval? Shopping for a new home without a pre-approval is like going to the airport without any money, a plane ticket, and your passport. You are completely unprepared, and this could have been all avoided without any real inconvenience at all. So, if you're planning on purcahsing a new home in the next six to twelve months, it's probably a good idea to get pre-approved now. Most people wait until the last minute because they assume they're qualifed or they're misinformed about the pre-approval process. Here's when it's important to pay attention to the professionals and not hearsay, or other people's opinions.

Watch this video to find out when you should get pre-approved!

Should you use your personal bank for your mortgage? The free lollipops are great and the tellers are nice, but a lollipop won't get you closing on time and the tellers aren't processing your loan.

Watch this video to find out why you should work with a mortgage broker or lender instead of your personal bank when getting a mortgage!

Should you use the mortgage lender your realtor recommends? Often, the realtor is recommending someone they trust to make sure you have the best experience, but you don't have to use them.

Watch this video for tips on how to determine if you should use your realtor's mortgage lender!