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Get Pre-Approved Now!

Why You Should Get Pre-Approved Before Starting Your House Hunt Looking to buy a home? If you want your offer to be taken seriously, then you’ll want to consider getting pre-approved for a mortgage.  A letter of pre-approval (not to be confused with pre-qualification) can give you a competitive advantage over other buyers who are also […]

The Ultimate Guide to the Perfect Realtor Headshot

Can your headshot make a total stranger want to hire you? If your current headshot is a little too glum chum, outdated, or simply not working for you like it should, then you’re going to want to read every last word of this article. Seriously, it IS that important. As a real estate agent, a […]

This One Mistake Cost a Home Buyer $50,000

When Hillary Clinton, Ashley Madison, or Target get hacked, it’s headline news. While someone may be inconvenienced by these high-profile hacks, they rarely result in large cash losses to consumers. Not so in the case of a new breed of real estate phishing scams. These are highly sophisticated cyber-attacks that specifically target the active transaction […]

Fed Announces Rate Hike

In a unanimous vote, the central bank’s Federal Open Market Committee (FOMC) determined that the time was right to move forward with raising the rates. “In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to one-half to three-quarter percent,” said […]

How Long Do I have to Wait

Waiting has never been my strong suit.  I screwed the pooch, ended up in a foreclosure, bankruptcy or short sale.  I didn’t want to end up there, but, I did.  How long do I have to wait before purchasing a new property?   Foreclosure Bankruptcy Short Sale Conventional 7 years from completion Chapter7 – 4 […]

One Trick That Changed How I Invest Forever

Corey’s Notes: This one little trick changed how I invest forever.  It’s easy and you can even teach it to your kids.  The faster you learn this trick the more your investments will grow. Calculating Your Return On Investment Using the Rule of 72 The number one factor on the mind of every investor is […]

Ways To Hold Title: SIMPLIFIED

This quick guide explains the major ways that you can hold title and some of the typical implications. At the end of the guide is a fantastic chart that you can download that makes choosing the correct title a piece of cake.

5 Essential Tips For The First Time Home Buyer

Becoming a homeowner is a part of the American dream. Every year first time homebuyers enter into the housing market and help with our economy. They decide that they are ready for the commitment of owning a home and they no longer want to lose money every month to renting. After making the decision to buy, first time homebuyers need to get ready for the responsibilities associated with homeownership. Here are 5 essential tips for the first time homebuyer.

3 Ways You Can Pay Less For The Home You Already Live In

If you’re looking to free up some of the income going toward your mortgage every month, consider the following 3 ways you can pay less for the home you already live in. With the money you’ll save, you can finally fund an IRA, set up a tax-deferred college savings plan for the kids, or simply put your extra savings toward improving your quality of life.

Mortgage Refinance: Should I Wait?

If it saves you money, the short answer is yes.  However, mortgage refinance is an important financial decision, and you should make it only after fully understanding the pros and cons. You’ll need to consider the rate and fees attached to the new loan, as well as whether a refi will entice you into further […]

What’s the difference between a Title Company and Title Agency?

The process of buying a home culminates in the “closing,” (or “settlement”), which is where papers are signed, checks are exchanged and keys are handed over. If you ever sat through a closing, you know that there is a cast of characters that includes the buyers/sellers and their brokers and lawyers, as well as a […]

Why Did the 30-Year Mortgage Rates Go as High as 18.45 Percent in Late 1981?

Could this happen again and what implications would it have? Millennials should count themselves lucky for coming of age well after the harrowing economic events of the late ‘70s and early 80’s. It might be hard to conceive in today’s benign environment, but in late 1981, 30-year mortgage interest rates topped out at 18.45 percent, […]

7 Facts the Banks Don’t Want You To Know

7 Ways to Pay Off Your Mortgage Early A mortgage is an excellent financial product to utilize while buying a home. It provides million of Americans with the opportunity of making the dream of homeownership become a reality. However, being a homeowner and having a mortgage do not need to be synonymous. In fact, 34% […]

I’m an Investor, What Kind of Loan Can I Get?

Whether the strategy is fix & flip or buy & hold, investors in single-family detached homes, multi-unit residences, condominiums and townhomes have access to a wide variety of loan arrangements from Loanatik. Your strategy to make money from real estate investments will help you determine the type of loan that makes the most sense for […]

Everything you ever wanted to know about Mortgage Insurance but was afraid to ask.

What is PMI? PMI stands for private mortgage insurance. It is an insurance premium that is typically required on loans that are more than 80% loan to value. Mortgage loans with less than 20% equity are considered riskier for lenders. PMI is designed to protect lenders in the event that a mortgage loan goes into […]

5 Essential Facts About a VA Loan

Purchasing a home is one of the biggest financial decisions anyone will make in his or her lifetimes. Paperwork, real estate agents, choosing a neighborhood—and how many bedrooms? Moreover, do I choose the home with the jacuzzi? Where do I start when trying to get a loan? Don’t worry—you are in good company. We hear […]

Title Insurance: Owner’s vs. Lender’s Policies

For many, title insurance is a murky topic. Homebuyers know that they need it, although they may be uncertain as to why. In this article, we’ll clear up any confusion and explain why there are two types of title insurance. What Is Title? Title is the right to occupy and use the space of a […]

Why is buying a House considered a Good Investment?

The financial crisis of 2007 to 2008 has driven many Americans to make a terrible mistake; they are refusing to buy a home. A home is still a great investment; despite the risks that became all too apparent in the last decade. A reasonably-priced home; with a sound mortgage, is still one of the best […]

Are Home Warranties a Good Deal?

Buying a home, even a newly-built one, is fraught with risks. It’s quite understandable that prospective buyers would want to limit those risks as much as possible, which explains why professional home inspections, title insurance and termite inspections are standard practice. Home warranty programs would seem to be valuable risk reducers, but it can be […]

Why Should I Trust an Online Lender?

Nearly everything done in the business world is through the internet. The mortgage industry is no different. Technology has made business easier than it has ever been to conduct. People have the whole world at their fingertips through their smart home. Homebuyers can take advantage of the internet while buying a home and finding a […]

Do I Need to Repair My Credit Before I Apply for a Mortgage?

Your credit score is one of the primary factors that determines your access to credit. Many lenders look at an applicant’s credit score to decide whether to grant a loan, and if so, how much to lend and how much interest to charge. This approach bars many potential homeowners from getting mortgages, and it’s something […]

Choosing a Fixed Rate or Adjustable Rate Mortgage?

Buying a home involves hundreds of decisions, from picking a neighborhood to planning new paint colors. From the point of view of your financial health, no decision is more important than the mortgage you choose. If you are a first-time homebuyer, you might find the many mortgage-related options a little intimidating. Not to worry, we’ll […]

I’m Self-Employed. Can I Still Get a Mortgage?

The American entrepreneurial spirit is alive and well, as witnessed by the fact that about 30 percent of U.S. jobs are held by self-employed persons and the workers they hire. That turns out to be more than 29 million of you who are willing to take the risk of working without a corporate safety net. […]

What You Ought to Know About Conforming Loan Limits

Owning a home has always been on the agenda for those keen on achieving the American dream. There’s something incredible about being the proud possessor of a home that you can call your own. Buying a house is often one of the biggest investments that people make in their lifetimes. In many cases, finding that […]

A Guide to Veterans Affairs (VA) Interest Rate Reduction Refinancing Loans (IRRRLs)

If you’re a homeowner with an existing Veterans Affairs (VA) mortgage, you might be eligible for the VA Interest Rate Reduction Refinancing Loan (IRRRL). Also referred to as the VA Streamline Refinance, the VA IRRRL is a refinance mortgage loan simplifies home refinancing for homeowners with existing VA mortgages. It accomplishes this by eliminating several […]

What’s the difference between Lien Theory and Title Theory

In title theory or mortgage states title is held in the lender’s name until the final payment is made, when title is passed or re-conveyed to the borrower. In lien theory states, title to the property is held in the name of the borrower with a security interest or lien to the property being granted […]

Top 10 Sites to File a Complaint in 2016

When looking at reviews in any industry and on any platform, it’s important to recognize that happy customers rarely leave feedback skewing the results presented on the site.  Think about it.  When was the last time you went to a complaint site and wrote a detailed comment on a company when they did something great? […]

We’re Only As Good As Our Last Review

It’s easy for me to tell you how wonderful working with Loanatik is, how we put our clients first and that our service is best of class. But, it means so much more to hear it from other people: Our clients write STELLAR reviews! We are registered with the US Government National Mortgage Licensing System (NMLS) and […]

How do I get PMI removed from my monthly payment?

  In order to remove the MIP from your FHA loan you must refinance your loan if you have not paid down the loan to the original 80% value and you secured your mortgage after June 3rd 2013 . If you are confident your home will have 20% equity when you complete the refinance process […]

What documents do we need to apply for a mortgage?

If you’re like me, you HATE pulling together piles of documents that were probably filed under stacks of kids homework from two years ago.  Just thinking about having to find all those documents gives me the heeby-jeebies.  At Loanatik, we strive to make mortgage applications as simple and easy as possible by asking for the least […]

How large a mortgage can I afford?

The decision to buy a new home is an exciting time in everyone’s life. Picking the best neighborhoods, best schools, most prestigious subdivisions: making your dreams come true. The downside to picking the best of the best of the best is never having enough money to go out, living paycheck-to-paycheck and the looming threat of […]

What is a mortgage amortization schedule and how does it work?

Let’s say you want to buy a home.  Few people have enough cash to purchase the house outright, don’t have a wealthy aunt, grandparent or parent and don’t want to wait until they’re 100 years old to purchase a home. Assuming you’re about as responsible with money and work as the next guy, one solution […]

A Complete List of State Banking Regulators

Jurisdiction Regulatory Agency Alabama Alabama State Banking Department Alaska Alaska Department of Commerce Arizona Arizona State Banking Department Arkansas Arkansas State Bank Department California California State Department of Financial Institutions Colorado Colorado State Housing and Finance Agency Connecticut Connecticut State Banking Department Delaware Delaware State Finance Department District of Columbia District of Columbia Department of […]

Who Regulates Mortgage Banking?

  Almost every homeowner has a mortgage on their home at one time or another.  And, since homeowners are consumers the government has to provide a framework of regulation to make sure that consumers are not taken advantage of.  First, we have to recognize all of the different ways that you can get a mortgage.  […]

Crowdfunding Title III: The good, the bad and the ugly

Like many of our friends throughout the crowdfunding industry, we have been watching with bated breath to see if or when the final SEC Title III crowdfunding rules and the FINRA amended rules will be approved.  The SEC voted on Friday October 30, 2015 to approve the proposed rules in a 3-1 vote with Commissioner Piwowar being the […]

The Phoenix Startup Ecosystem

I have been part of the Phoenix startup ecosystem for nearly 30 years. While the change has been dramatic, it hasn’t changed much at all. Having a background in computer programming, I approach life in a structured manner: complex tasks are broken down into manageable pieces, each piece is methodically broken down, evaluated, noted, considered, […]

Types of FHA Loans

Did you know the Federal Housing Administration (“FHA”) has a loan product that fits almost everyone?  There are loans for first-time home buyers, loans for seniors, loans for manufactured and mobile homes, loans for “greening” your home, loans for Native American Indians and many more.  In this article we will only give you a brief […]