Greg 's Blog

Recently I visited the website of a mortgage competitor seen daily on TV to inquire about the below market rates they regularly advertise.  I used their online chat function to memorialize this conversation. People are smart - enough to know when they are being told ½ a storyNote: online web chat...

This program for owner occupying buyers is sponsored by Fannie Mae. MCMprograms offer qualifying low & moderate-income home buyers lower rates & better terms than subprime loans with the same credit scores.  Areas defined as "undeserved" may have no income limits for eligibility and qualify for 1...

Pre-Qualified vs. Pre-ApprovedCan be the difference between closing and heartbreak.Pre-Qualification:Determines the loan value a buyer may likely be approved for.  Generally calculated from standard borrowing ratios, it typically involves no verification of documents. Knowledgeable sellers may re...

Here are recent guidelines from one of my preferred lenders for late June 07.  You will be pleased to note that 100% finance options are still available! Though you might want to know :-)Loan amounts <$1m & requiring 2/3 documented trade lines open & active not less than 12 months: Owner Occupied...

Many seniors don't know about Reverse Mortgages or have preconceived misconceptions.  Did you know that many programs are insured by our government? These are Home Equity Conversion Mortgages (HECM's).  Most programs require you to reside in your home and be a senior 62 years or older.  You canno...

Do you want a no cost refinance? Traditional refinance expenses may not be directly charged to the consumer on this loan type creating the impression there is no cost for these services.  If you can find a title company to close your loan without charging anything please tell me.Loan originators ...

What's a Mortgage Banker, Broker & Direct Lender?  As an independent Broker I'll identify lenders most likely to approve your loan. As a Mortgage Banker I'll fund your loan at closing just like any direct lender.  Unlike direct lenders limited to their own product portfolios, I have hundreds of l...

Your identity may become compromised compliment of the state of Illinois.I received a letter in the mail from our "great state" of Illinois that they failed to protect the personal information we are required to provide to be licensed to do business.I followed their advice and put a fraud alert o...

 I had a great time at Maggiano's and wish to thank our hosts for their hospitality. The food was terrific and the price was right!  One of my favorite places to eat.  I even learned the Active Rain name stems from rainmakers which all of us must be every day.Speaking of that, I appreciate the op...

A mortgage buydown occurs when prepaid interest is applied to lower a mortgage rate. Buydowns can be for the life of a loan or a period of years. Lower qualifying rates increase the number of buyers eligible to purchase properties. Homebuilders often use this to sell more properties.  Homeowners ...