Strategic Mortgage - Bill Kamboukos

During the peak of the mortgage boom and then bust of the mid 2000’s, second mortgages were very popular and widely available.                 Many homeowners looking to purchase a home with less than a twenty percent down payment, would take out a first and second mortgage when closing on the p...

When using a home mortgage to purchase a home, if you do not make a twenty percent down payment, then traditionally that means that you have to pay private mortgage insurance. Private mortgage insurance or pmi, is insurance to protect the bank from a potential foreclosure and loss, for those mak...

When purchasing a home and using either a Conventional loan or an FHA loan, the entire down payment can be a gift from a family member. However, more often than not, there is a bit of confusion as to how to properly provide a gift for the down payment of a home. If you do it the right way, the p...

When purchasing a home, it is important to keep in mind that large unidentified deposits (cash or otherwise) can potentially cause an issue. That is because lenders will want to know that funds being used for down payment were not “borrowed” or obtained in a way that would make them ineligible t...

For the self-employed borrower that does not receive a regular pay check stub, in recent years the only way to qualify for a home loan, has been to use full tax returns. However, with this new program, for someone who does not want to go that route, a new option is available.   Program Basics – ...

Recently we have seen an increased demand for clients looking to purchase condos. The important thing to remember however that financing for condos is different than that of single family residence homes. In today's market, in order to finance or refinance a condo, the property needs to fall int...

Following up in a series from our most recent article. We discussed that in the current mortgage and real estate market, the more knowledge you have, the better you will be prepared to end up with the best possible terms for the purchase or refinance of a home. It always important to know what y...

In the current mortgage and real estate market, the more knowledge you have, the better prepared you will be, to end up with the best possible terms for the purchase or refinance of a home. It always important to know what you need and do not need in order to obtain a home loan and how your situ...

In the current marketplace, FHA loans represent an increasingly larger and larger portion of the mortgage market. Especially with first time home buyers representing the landscape more and more. Coupled with the fact that many homes are short sales and foreclosures that are not in perfect shape,...

    The HARP refinance program is a program that has allowed millions of homeowners the option to refinance and take advantage of today’s low interest rates, with little or no equity in their homes. In addition, the program also has served a need to help homeowners in other difficult situations t...