Buying a home is one of the biggest and most complicated purchases you will ever make, but that doesn’t mean you need a large down payment to do so. It is a common belief that you need to put 20% down to buy a home, however this isn’t the case. The truth is, there are […]
Unsure of what an APR is? Can’t see the difference between an APR and an interest rate? These are important terms to understand, as they are key components of the mortgage process. First off, lets discuss what an APR is, and why it is important to the mortgage process. An APR can best be defined […]
At the Truth About Lending, we are licensed mortgage brokers rather than retail loan officers. What’s the difference? It means that we have many more options available for you and your family than if you were to go to a retail loan officer. A retail loan officer like a bank or somebody is working for […]
Are you a veteran trying to use your VA benefits? Unfortunately it is becoming common that banks take advantage of our brave veterans. In fact it is so bad, that it has become a national issue. If you’re looking for a very competitive rate and to perhaps save 1% on the interest rate that you […]
Is there actually a loan out there that has NO closing cost? A common myth within the mortgage industry is that there is something called a no closing cost loan. Despite what some say, this is not true. Regardless of whether there are lender fees or not, you still have costs that you must pay […]
Are you struggling with your credit score? Trying everything under the sun to raise that score but don’t see any progression? Here is some information on how to get that score up, and what lenders typically look for. In general, most lenders are looking for credit scores of 620 or higher for someone to get […]
What is a Home Equity Line? What are the pros and cons of a Home Equity Line versus a cash out refinance? Some of the pros for doing an Equity Line would be if you only need the money for a short-term basis. In addition to that, it is very quick, and there is hardly […]
One of the biggest myths within the mortgage industry is that you cannot get an FHA loan if you have owned a home in the last three years. However, that is not true. Even if you own a home right now and are selling that home in order to buy a new one, you can […]
There is a common myth out there in the mortgage industry that the Federal Reserve controls the mortgage rates. This myth is not entirely accurate. The way that mortgage rates are determined is by the activity in the 30-year treasury bond. The Federal Government controls 3 interest rates. With these rates that they have control […]
Did you know the state of Florida still has a huge problem with getting financing for condos? This is because Florida is the only state left in the entire country that is still subjected to these requirements that Fannie Mae and FHA put on us. A lot of times people feel like they need to […]
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What Is An APR?
Unsure of what an APR is? Can’t see the difference …
Shopping Around for Closing Costs
Can you shop around when it comes to getting a …
Reasons to use a Mortgage Broker Instead of a Retail Loan Officer
At the Truth About Lending, we are licensed mortgage brokers …
What To Expect When Buying Buying a house is a very tedious process, and you need a reliable team to guide you through this process. There are several benefits to using us, and we will always tell you The Truth About Lending.
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