Virginia mortgage Market Update

 Wow. Any loan officer that has been in the business for more than 20 minutes has heard this question. Without selling you ANYTHING, let me give you a couple quick pointers to help determine if the rate, points and fees you are getting quoted are actually competitive. First, you need to understan...

   Are stated income loans BAD? It seems like open season right now on lenders who have issued Stated Income loans over the last several years. Here is a brief introduction to stated income loans. Historically, when applying for a mortgage, potential borrowers would take their paycheck stubs and ...

The Fundamental Question: Does An Interest Only Mortgage Save Me Money?So here is an example of the math of a hypothetical 30 year mortgage compared to the same mortgage with an interest only option for the first 5 years.$350,000 for 30 years fixed at 7.0%The traditional payment, principal and in...