Should you wait for rates to drop before refinancing? That’s a question that we hear quite often. Rates have been trending lower and there’s a lot of speculation that the Fed will cut rates further. It’s important to remember that the Fed does not control mortgage rates, they control the Fed Funds Rate…and the two […]
The Covid-19 Coronavirus has led to some challenging times for all of us. The Government has created the CARES Act to assist homeowners whose income may have been adversely impacted by the coronavirus. One of the components of the CARES Act is the possibility of mortgage forbearance. Forbearance is often misinterpreted. Many people are mistakenly […]
You have probably heard that the Federal Reserve, also known as the Fed, has cut interest rates to ZERO on the Fed Funds Rate. There is a big difference between the Fed Funds Rate, which can change day-to-day, and a Mortgage Rate, that can stay in place for 30-years. Mortgage Rates are normally based on […]
Right now mortgage rates are near the lowest levels we have ever seen. There’s a good chance that we may be able to refinance your current mortgage into a lower rate and save you a meaningful amount of money each month. But did you know that you can also use your mortgage as a vehicle […]
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 […]
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 […]
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