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Recent Articles

Mar
23
2022
What Are The Closing Costs For A VA Loan?
As with any type of mortgage, VA loans have fees associated with getting the loan. These fees are often called “closing costs,” and they are paid to the lender for services rendered in creating and processing your mortgage. Note that closing costs must be settled before the...
Mar
20
2022
Freddie Mac ending automated appraisal waivers on cash-out refinances
A complete appraisal inspection will be required on all refinanced properties worth more than $1 million. By Jeff Lazerson | jlazerson@mortgagegrader.com | MortgageGrader.com | March 19, 2022 Why is Freddie Mac throwing out automated appraisals for certain refinances that have...
Mar
16
2022
How Does A Mortgage Underwriter Verify Income?
The mortgage underwriting process is essential to verify income and ultimately determine whether the loan is approved or not. In addition to examining your income, the underwriter will also dive into significant events such as recently graduating from school, switching careers, or...
Mar
12
2022
Condo shoppers beware: Balcony law could cost you thousands of dollars after you buy
Funding reserves is a key indicator for buyers of a condo association’s financial health. By Jeff Lazerson | jlazerson@mortgagegrader.com | MortgageGrader.com | March 12, 2022 Almost six years to the day before 98 people died last June 24 in South Florida’s Champlain...
Mar
09
2022
How To Spot A Reverse Mortgage Scam
Reverse mortgages have helped countless senior homeowners convert a portion of their home equity into much-needed cash to provide added income during retirement. This type of loan offers many advantages for seniors, and it’s no surprise that many have been applying in recent...
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