We want to wish everyone a safe and happy Veterans Day. And to especially thank all the veterans (and their families) who served to protect us.

Interest rates are still at historic lows but may not stay this low for long.
With rates low and many owners seeing a rise in their equity, many people are asking about cash out refinancing or getting a home equity line of credit (HELOC).
Here is a quick breakdown of the similarities and differences between the two loan types.
Both allow you to get cash out immediately and in both cases you are borrowing against the equity in your home. The major differences is with a cash out refinance, you are replacing your first loan with a new one and the home equity loan is a second loan to your existing first mortgage and an additional payment. Cash out refinancing generally has a lower interest rate, as it replaces the existing first loan and is seen as less exposure to lenders.
Contact us for a free custom evaluation and we can quickly review your case to see how much cash you qualify for and see what program works best for you!

Buying the right house for you might be at the top of your list, but the neighborhood is important too. Here are a few tips to consider:
HOA and Property Taxes – these can actually vary widely between one area and the next so make sure to check them and if there is an HOA check the rules in advanced!
Schools – we probably don’t need to mention this – if you have kids or are planning to, then you probably already have this in mind.
Neighbors – this can be a little tricky but it’s a good idea to get a feel for your neighbors. You may want to try an old fashioned hello and ring the doorbell of a neighbor and introduce yourself.
Area Attractions – this can range from grocery stores to parks to restaurants. Think about your lifestyle and what’s nearby (or how long it takes to get to those places)
Future – see what the future plans are for the area is there new development being planned – is it an area where property values will likely go up, etc.
Down Sides – Look into things like traffic, cell phone reception make sure there aren’t any shocks later!

Finally visit the area at different times of the day and during the week and weekend to get a better overall feel for the area.

Being self-employed is great – you’re your own boss but when it comes to getting a mortgage secured, its a slightly different process than traditional mortgages. It often comes with additional requirements and red tape.
Here are some tips to help you get organized and approved if you’re self employed. Apply for a mortgage when your income is up (we know this is easier said than done) but lenders will look at your last two years income most closely, and if you’re income fluctuates its best to apply on an up year. This can help you qualify for a greater loan amount and lower interest rate. Get That DTI lower, your debt-to-income ratio is one of the key factors in getting approved. So you’ll want to try to pay down debts (both business and personal) as well as avoid opening new lines of credit a few months before applying. Don’t Mix Business and Personal Keep your business and personal finances separate. Have separate bank and credit card accounts for your business and personal use. This will help lenders easily see the business income and expenses as well as show you are running your business in a professional manner. Give us a call or contact us from our pre-qual app and we can see what product best fits your needs. You may be a candidate for QM (Qualified Mortgage) or non-QM lender, either way we can review and help you get started!