Did you know... there are two different types of refinance loans? There's a no-cash out, also known as a rate & term refinance. Then, there's a cash out refinance. Both have pros and cons. Both make sense in different situations. If you're still on the fence about refinancing, this episode is JUST FOR YOU. Listen [...]
Have you ever wondered how mortgage lenders calculate your income? Lenders see your income differently than maybe you do... The details are important as your income dictates how much of a mortgage loan you might qualify for. Listen in as Dwayne Stein breaks down, by product, how much you can purchase relative to your income. [...]
Are your flood insurance premiums about to go through the roof? If you live in south Louisiana, there's a good chance they'll go up, maybe even a LOT. Recently on our show, we took a deep dive into what we're calling FEMA 2.0. We will give you all the facts, why the changes were made, [...]
Maybe you promised yourself last year that you weren’t going to overspend. Maybe you said that this year was going to be different. Christmas time is now and how are you managing your Christmas spending? Here are 12 tips that may help you keep your wallet happier this Christmas. 1. Set a budget – It [...]
A few weeks back we told you it's coming and we're a little over a month away, forbearance begins December 1st. That’s why we're repeating our forbearance article from a few weeks back. So here we go… We’ve been telling you for a while and if you are even thinking about a refinance, stop dragging [...]
Our One-Time Close Construction Program offers financing for both the construction and lot purchase for the future home of your dreams. The specific benefits include: -Â Â Â Â Low and no down payment options -Â Â Â Â No payments during construction -Â Â Â Â Rate locked up front -Â Â Â Â No requalification once construction is complete -Â Â Â Â One-Time Closing means reduced costs So, what sets this program [...]
In the last two months, the national debt has increased by 4 trillion dollars. As a country, we owe more money than ever. My mom always told me to take care of my own dishes before I looked in someone else’s sink. Well, how does your kitchen sink look? Here at Mortgage Gumbo, we preach [...]
We’ve been telling you for a while and if you are even thinking about a refinance, stop dragging your feet and contact us today. Why you say? Well come December 1st, lenders that lend through Fannie or Freddie will be required to tack on an adverse market fee. This is a fee that adds 0.5% [...]
Spending a little more time in your home nowadays? Aren’t we all! All this extra time at home may have you considering home improvement projects like remodeling that kitchen or bath. Maybe working from home has you considering adding a home office. Well, I have two words for you – Renovation Financing. It’s our latest [...]
PMI or Private Mortgage Insurance is insurance on your home loan when you have less than 20% equity in that home. The purpose of Private Mortgage Insurance, or PMI, is to protect the investment of the lender. With PMI, the lender can lend with confidence because the risk of loaning funds is minimalized. There are [...]
