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Blog Image: What Happens If I Lose My Job During the Mortgage Process?

What Happens If I Lose My Job During the Mortgage Process?

You are midway through the process of closing on a new home or a refinance mortgage. Then you lose your job. In today’s coronavirus crisis climate, plenty of home buyers and homeowners have faced this situation. Can the home loan go through or is it curtains for your new mortgage? While becoming unemployed during the loan underwriting process is much less-than-ideal, there may be some rays of hope. Temporary or Permanent Job Loss Sometimes income loss is due to furloughs. If you have a commitment from your employer as to when you will return to work or your income will resume, you ...

July 29th, 2020 | Interest Rates, What Happens If I Lose My Job During the Mortgage Process?

Blog Image: Can a Higher Interest Rate Actually be a Better Choice?

Can a Higher Interest Rate Actually be a Better Choice?

Mortgage interest rates are near record lows again. This can mean great deals for homebuyers and great savings for homebuyers. Some lenders will even start advertising rates that are at least a half point lower than the average national rate. Buyers and refinancers should be aware that these ultra-low rate deals come with strings attached. In some cases, it may actually be better to choose a higher rate option. Here’s what you need to know: Points In order to get some of these rock-bottom rate deals, borrowers are often required to pay discount points to the lender. One point is eq...

March 27th, 2020 | Interest Rates, Can a Higher Interest Rate Actually be a Better Choice?