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Category Archives: Loans

Home Affordability Through Buydown

access_timeOctober 8, 2022personThierry Roche

“It’s a fact that many households are impacted by higher mortgage rates as they no longer earn the qualifying income for the median-priced home.” Nadia Evangelou, NAR Economist. What this means is that the rapid rise in mortgage rates during 2022 is coupled with continued appreciation of home prices. This has limited the number of […]

Giving An Arm (Or A Leg) For A Lower Rate

access_timeJune 10, 2022personThierry Roche

What exactly is an ARM? There isn’t any kind of interest rate known as a LEG, at least not as far as I’m aware, but an ARM is an adjustable-rate mortgage. Especially lately, rising interest rates added to increasing home prices are causing the affordability factor of owning a home to be quite the issue […]

Let’s Assume A Few Things – We’re Talking About Assumptions

access_timeMarch 5, 2022personThierry Roche

Looking for an alternative to paying higher, current rates? This could benefit buyers with lower closing costs while saving money on the payment. Your alternative could be existing FHA and VA mortgages – they’re assumable at the note rate to owner-occupied buyers who qualify. For the last 20 years, rates have been steadily coming down […]

Home – Your First Investment

access_timeFebruary 9, 2022personThierry Roche

Without the consideration of income or an investment property – buying a home to live in is a very very powerful way to build wealth or financial net worth. You see, a home is an asset measured by the size of the equity. What’s equity you may ask? You’ve probably heard that word before. Equity is […]

Home Prices Are Going Up – And So Is Rent. Let’s Talk About Inflation

access_timeJanuary 22, 2022personThierry Roche

Inflation is a word that seems to be worldwide these days. There’s a big concern in regards to inflation – including inflated prices on our gas, food, necessities and yes, you guessed it, rent. Assets, such as your home or your car, become more valuable over time. During periods of inflation, your home is a […]

Why APRs Are Higher Than Interest Rates

access_timeJanuary 15, 2022personThierry Roche

We should probably start this with “what exactly is an APR?”. An APR is an “Annual Percentage Rate”, and is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. APR calculates the interest rate and loan fees […]

Some Information On Soft Inquiries

access_timeDecember 30, 2021personThierry Roche

You’ve probably heard of a soft inquiry, soft credit pull or soft credit check. Why do they happen though? These occur when credit card issuers or mortgage lenders check your credit for preapproval purposes. They don’t impact your credit score because they aren’t attached to a specific application for credit. Soft inquiries may appear on […]

The Mortgage Saga

access_timeDecember 9, 2021personThierry Roche

These are some changing times, aren’t they? Loan limits for both Fannie Mae and Freddie Mac are adjusted annually to keep up with the cost of living – but with the appreciation that’s experienced lately in so many markets, it may not be enough. So, what do you do in that case? Qualified buyers can […]

Credit Utilization and How It Affects You

access_timeNovember 30, 2021personThierry Roche

How much of your credit is available at a given time? When applying for mortgages and loans, a lower credit utilization means that the borrower is not relying heavily on their credit, and also means that they are using their credit wisely. Basically, the higher the percentage, the higher the risk is involved which will […]

Attention Veterans: Have You Considered An IRRRL?

access_timeNovember 12, 2021personThierry Roche

If you’re a veteran, I’d first like to take this opportunity to thank you for your service to our country. There are loan options available to you, and one of those is an IRRRL. You must be a Veteran with a current VA-backed home loan to qualify. IRRRL is an acronym for Interest Rate Reduction […]

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