Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage and Lending - Cambria Mortgage - NMLS 274132
Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use
RECENT BLOG POSTS
Minneapolis, MN: People spend weeks and months looking for that perfect home, but more often than not, make the mistake of using whatever Loan Officer answers the phone without question.  Why?On the largest financial transaction of your life, there are many things to consider besides a low intere...
01/22/2021
Thinking of refinancing?  Been contacted by your current lender?Your current lender sounds like a logical choice to refinance. Many people believe that "because they know you" that somehow the current lender can refinance you quicker, cheaper, and faster.You couldn't be more wrong. There is no sh...
01/02/2021
What can we say about 2020 that hasn’t already been said on the late night shows, twitter and in every meme on the internet? To say the world is looking forward to 2021 is the ultimate understatement. While 2020 was a solid year in the housing market, the same cannot be said of all industries.At ...
12/23/2020
Minneapolis, MN: Mortgage interest rates have been amazingly low the past 6 months, and according to a major data firm,  over 18 million people could benefit from a mortgage refinance, and cut an average of $304 a month off their current mortgage payment.Seems like a no brainer, yet many people s...
11/06/2020
Thinking of buying your first investment property?  Looking back historically, most wealth in this country has been obtained though real estate, so there is plenty of good reason for you to buy real estate too.There are many considerations when getting into real estate, including are you cut out ...
10/30/2020
There are benefits to being self employed. Writing off items, and reducing your tax liability can be one of them.  That is great...  until you try getting a home mortgage loan, and you don't show enough income to qualify, then you get denied because you don't meet the current ATR (ability-to-repa...
10/29/2020
A common question people applying for home mortgage loans is how does their deferred student loan effect mortgage qualifyingFirst understand that while a student loan may be deferred, lender reasoning is that eventually you will have to start making a payment, so we must calculate something into ...
10/19/2020
Can I get a new mortgage loan after a COVID related mortgage forbearance?Yes, homeowners who have been granted forbearance from making full payments because of the COVID-19 crisis may still be able to refinance or buy a new home when the crisis ends.When a borrower experiences significant reducti...
10/15/2020
Mortgage rates return to record lowThe benchmark 30-year fixed rate mortgage averaged 2.81% percent with an average 0.6 points / origination for the week ending October 15, 2020, down from last week when it averaged 2.87%, according to the weekly survey by Freddie Mac.A year ago at this time, the...
10/15/2020
Is your mortgage payment squeezing your wallet?I get it. I just cash out refinanced a client that was furloughed for the months of March, April, and May because of COVID-19. Needless to say, income was down and credit card balances went up.Now back to work, a cash out refinance was the perfect to...
08/11/2020
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