by RAY COLE | Apr 13, 2023 | Glossary of Mortgage Terms
When you’re in the process of buying a home, you’ll probably come across the term cash reserve at some point. It’s an amount of money that you set aside in addition to your down payment and closing costs when you take out a mortgage. Purpose of Cash...
by RAY COLE | Apr 12, 2023 | Glossary of Mortgage Terms
When you’re in the process of getting a mortgage or trying to understand the financial terms associated with it, you may come across the term “basis points.” Understanding what basis points mean can help you make more informed decisions about your...
by RAY COLE | Apr 12, 2023 | Glossary of Mortgage Terms
Appreciation is a term used in the mortgage industry to describe the increase in value of a property over time. In other words, it’s the amount by which the value of a property has grown since it was purchased. Appreciation Concept Appreciation is a key concept...
by RAY COLE | Apr 11, 2023 | Glossary of Mortgage Terms
When it comes to buying a home, a crucial step in the process is obtaining an appraisal. An appraisal is an estimate of the value of a property, conducted by a licensed appraiser who assesses the condition of the property and compares it to recent sales of similar...
by RAY COLE | Apr 10, 2023 | Glossary of Mortgage Terms
A common financial term that refers to the process of spreading out a loan or debt over a fixed period of time, typically through regular payments. It is commonly used in mortgages, auto loans, and other types of financing. Understanding the basics of amortization is...
by RAY COLE | Apr 10, 2023 | Glossary of Mortgage Terms
If you’re considering buying a home, you may be considering an Adjustable-rate mortgage (ARM) as one of your financing options. An ARM is a type of mortgage loan where the interest rate adjusts periodically based on a predetermined index. While ARMs can offer...
by Steve Abo | Jan 8, 2021 | Real Estate
No-Doc Mortgage No-doc mortgage, also known as no-income or stated-income mortgage allows an applicant to qualify for lending using non-standard documentation. A no-doc mortgage does not require income verification from the borrower. Instead, lenders approve this...
by Steve Abo | Dec 15, 2020 | Small Business Loans
How to Qualify for Small Business Loans in Los Angeles There are many options you can use to secure funding for a small business. One of the most successful ways is getting a Small Business Administration (SBA) Loan. These are the best loans for financing small...
by Steve Abo | Nov 30, 2020 | Real Estate
What Lenders Look for in Commercial Real Estate Loans Small business owners and investors use small commercial properties nationwide to support and run their businesses. These types of assets are quite valuable especially when you need a loan to help realize your...
by Steve Abo | Nov 9, 2020 | Credit Score
Average Credit Scores Rise Amidst the Coronavirus Pandemic FICO, an organization that tracks one of the most important metrics used by lending institutions has reported an increase in credit scores at the verge of the Coronavirus pandemic. According to FICO,...
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