The Mortgage Report

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Mortgage and Lending - FirstTrust Home Loans - NMLS License #113781
I'm here to educate homebuyers and/or sellers on topics related to mortgage lending and share fun and educational facts about the real estate market. My company, Universal Home Mortgage, offers highly competitive rates through our direct to consumer lending channel (no middleman) known as “Direct Rate.” We do this with transparency, service, speed, and a human touch. To meet these requirements, we offer an engaging, concierge user experience. Our Direct Rate system provides an intuitive borrower portal that offers simple, transparent interaction, the ability to easily, safely, and securely upload and store documents with real-time status updates and the ability to engage with experienced lending professionals at any point in the process. We have been doing this in Shreveport, Bossier City, and surrounding areas since 2002. Choosing a mortgage lender is a major decision, and at Universal Home Mortgage, we take our jobs as lending professionals very seriously. Please consider us for an opportunity to earn your business. Hope you find my blog educational.
Many couples are asking their wedding guests to contribute to their “Down Payment Fund” for a wedding gift rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…they j...
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time...
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.As Entrepreneur Magazine,...
When most mortgage lenders calculate escrows/reserves required at closing they look for 14 months of reserves.  The key in figuring how many months will be collected at closing will depend on when the first mortgage payment will be due, the renewal dates of their insurance policy, and when the ta...
Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market?Here are the opinions of several experts on the subject:Iv...
According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.  Many potential homebuyers in Louisiana believe that a 20% down payment is necessary to buy a home and have disqualified th...
 At some point during the mortgage process, the contract interest rate (the one that ends up on the Promissory Note–the most official document stipulating the terms of repayment) must be “locked.” This means that there is an agreement between the borrower and the lender regarding what the contrac...
Since the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of homeownership with a VA home loan. Many veterans in Louisiana looking into buying a home do not know the details of the program and therefore do not take advantage of t...
Loans guaranteed by the Department of Veterans Affairs surged by 50% in the fiscal year ended September 30. According to one report, the department guaranteed almost 540,000 loans in fiscal year 2012, the most since 1994. Compared with five years ago, VA volume is up some 300 percent.  About 338...
Home prices continue to rise nationwide.  According to the Standard & Poor’s Case-Shiller Index, home prices rose 6.9% between the first and second quarter of 2012, the largest quarter-to-quarter gain since the home-value tracker’s 1987 inception and another signal that the housing market is in r...

Kevin Whatley

Professional Mortgage Lender
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