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Best Home Loan Providers

One of the best ways to create success in a situation is to perform mental modeling. Pro athletes, navy seals, nobel laureates, successful CEOs and performance driven individuals use mental modeling to visualize high pressure, new situations before they perform them.

You might ask, what does all this have to do with mortgages? Good question. More than you might think. For a lot of borrowers, the mortgage process is new and can be daunting. And even for home buyers with previous experience, the home loan marketplace is constantly changing. Rates are tied to decisions made by the Fed...

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Why to Choose a Mortgage Broker for a Home Loan

Buying your first home is a great moment in life. It will lead you to form lasting relationships with your community and neighbors. There are lots of exciting choices to make like city vs. suburbs. vs. rural, which neighborhood, school districts, number of garages, views and more.

Here are SunnyHill Financial's tips on how to approach the first time home buying process.

Figure Out What Type of Home You Are Looking to Buy

Dreaming about what type of home you want and touring homes is exciting. Understand which features are most important to you in your...

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Best Mortgage Loan Advisors

Comprando su primera casa es un gran momento. Te va llevar a relaciones duradas con tus vecinos y comunidad. Hay muchas decisiones emocionantes que hacer como en cual barrio vas a vivir, cual casa vas a comprar, distrito escolar y mucho mas.

Aqui estan SunnyHill Financial’s consejos para compradores de casa por primera vez.

Descifrar Cual Tipo de Casa Estas Buscando Comprar

Sonando en que tipo de casa quieres es emocionante. Entender que características quieres en tu primer casa es importante. Factores como el numero de baños y recamaras, el espacio en...

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What is an interest-only loan?

Many people enter into the mortgage process and are unfamiliar with the products that are available in the marketplace. Some borrowers are sophisticated and have been through the mortgage process before. Whichever category you fall into, it is worth understanding an Interest-Only ("IO") mortgage when you are looking at all the options.

Interest-Only loans are attractive to buyers wanting to save money on their monthly payments.

What Is An Interest-Only Loan?

An Interest-Only Loan is a loan where you pay only the interest portion of the loan at the...

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What is an adjustable rate mortgage?

Adjustable Rate Mortgages, ARMs for short, got a bad wrap during and after the credit crisis, because many borrowers felt that they were not informed nor educated about the product when they purchased an ARM. It is important to work with a patient loan officer who will take the time to understand your needs, and educate you on any loan that may fit your needs. Google and internet searches can help in your education as well. Simply make sure that you are using a trusted source to gather your information

What Is An Adjustable Rate Mortgage, an ARM?.

With an...

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What are the Basics of an Appraisal on a Mortgage Loan?

Whether you are looking to purchase a home or refinance an existing one, the current appraised value of the property is as important of a factor as, if not more than, other loan characteristics such as your FICO score or debt-to-income ratio. The majority of loans originated in today’s mortgage market require a full appraisal, meaning an interior inspection of the property is required for loan approval. For the most part, gone are the days when lenders would approve loans utilizing strictly an automated value model (AVM) for the property valuation.

The appraised value is the...

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Changes to Your Home Insurance Policy

Natural disasters including fires, earthquakes, floods, and tornadoes have been in the news regularly lately.

Many homeowners are wondering how to effectively insure their homes against a natural disaster and how much insurance coverage they should own on their home.

This article should help you organize your thoughts about your home insurance options. To begin, there are three primary types of value that property holds.

Replacement Value: This is the estimated cost to replace a home and rebuild it from scratch. Replacement value can be influenced by several...

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The Difference Between VA and FHA Mortgage

FHA stands for Federal Housing Administration. VA is short for Veterans Affairs in US Departments of Veterans Affairs. They are both US government organizations that insure home loans. This article will walk you through the difference between FHA and VA mortgages.

In short, FHA mortgages are federally insured mortgages designed to help qualified borrowers buy a home with less money down and lower credit. VA mortgages are government insured mortgages for active or veteran military service members and their spouses.

VA Mortgages

VA mortgages are insured by...

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What Credits Are Allowed on a Purchase Transaction?

Fed up with your landlord? Frustrated about rising rents? Tired of sitting back and watching home values soar out of your price range?

It doesn't have to be that way...

Homeownership rates in the United States have now reached all-time lows in the past 50-years to 63.4% down from a high of 69.2% at the end of 2004, according to data released this week by the U.S. Census Bureau. College students are graduating with a mountain of debt like we've never seen...

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Credit Score Needed for Mortgage

One of the most commonly asked questions in the mortgage business is how a borrower's credit score will affect their home loan. Your credit score or your FICO score is a key factor in qualifying you for a mortgage.

The mortgage industry divides up credit into 20 point increments. In the mortgage business this is called “loan level pricing.” Each time you go up a level, you are offered better rate.

680 and above is considered good credit. 700 and up is better. 720 and above is considered excellent. A credit score of 760 and above will get you the best rate available from a...

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FICO Credit Score Needed for a Mortgage

Are you one of the ~40 million American households who rent and would like to purchase a home in the near future? Do you already own a home and want to purchase another one? Are you thinking about refinancing your existing loan?

Yes...maybe...someday? Read on!

FICO is king! In today's mortgage market, your FICO score and loan-to-value are the main factors that determine your rate and price for a Conforming loan, which is a home loan that meets Fannie Mae & Freddie Mac guidelines and has a loan amount of up to $453,100 (or up to $679,650 in certain high cost areas of...

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Verifying Assets for a Mortgage

Have you ever attempted to obtain a mortgage loan for the purchase of a home and wondered why your lender cares so much about the source of your down payment? An applicant recently said to me, "It's my money, it shouldn't matter to you!"

That applicant's sentiment is not alone...

One of the most frustrating aspects for homebuyers during the mortgage process continues to be the documentation of assets for loan approval. With a little preparation, however, this part of the loan approval process can be simplified.

Home purchase loan applicants must show the...

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The Loan Process: What is a Conditional Loan Approval?

Picture this scenario: you’ve worked hard for years stashing as much of your hard earned pay check in the bank along the way as possible. You’ve managed your credit wisely and built up an 800 FICO score. Instead of dining at fancy restaurants or spending nights out on the town with friends, you’ve opted for home cooked meals, nature walks, and snuggling up with your significant other watching the latest hit movie on Netflix. Finally, you have accumulated enough savings for a down payment on a home without having to raid your emergency savings funds. You select a realtor and he/she asks...

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