Joe Knows Mortgages Minute
For every home and every situation, the process can vary. At Morgan financial, we work closely with you through every step of the loan process to make sure that it goes as smoothly and timely as possible. Typically, real estate contracts are written for 30 days. This should be ample time to complete a loan. [...]
You know what that means? Another loan is clear to close in less than 10 days here at Morgan Financial. We hear that whistle a lot! Now, what exactly does it mean to be "clear to close"? Being clear to close is a fantastic position to be in as a buyer. When you are [...]
Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: “What are points and when do you pay them?” Points are fees that a borrower pays directly to their lender at their closing, in exchange for a lower interest rate. 1 point [...]
Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: "When is a good time to consider a Cash Out Refinance?" With current interest rates hovering around a 9-month low, home equity at an all-time high, and home values as high as [...]
The year 2018 may have come to an end, but Joe Know Mortgages Minute has not! We just enjoy making these videos too much. Please enjoy this blooper reel and get excited for what we have planned for 2019! Cheers!
Can you refinance a VA Loan? Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: Can you refinance a VA Loan? The Answer is yes. If you are a qualified Veteran you can choose to refinance your VA Loan. This often allows [...]
What is a Cash Out Refinance? Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is a Cash Out Refinance? A Cash out Refinance is when you replace your current mortgage with a new loan that allows you to pay off your current balance and uses the available equity in your home to give you additional funds for other purposes such as home improvement, debt consolidation or home repairs. This might also be a great option for those looking to lower their interest rate. If you have any questions on doing a cash out refinance, then please contact us here at Morgan Financial for sound advice. Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! So please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!
Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is an Earnest money deposit? An earnest money deposit is also known as good faith money, or an escrow deposit. This is the amount that you put down as a deposit when a real estate offer is accepted. This money can typically be used towards your transaction at closing. If you do not close on your transaction, you may be entitled to a refund of your earnest money, as long as you meet the stipulations of the contract. In some instances the earnest money deposit may be forfeited if the timeframes and stipulations of withdrawal from the contract are not met. Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! SO please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!
Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: If I have student loan debt, can I still qualify for a loan? With approximately 70% of college graduates graduating with some type of significant student loan debt, this topic is certainly a hot one, and on many peoples mind. The reality is that student loan debt alone will not preclude someone from getting a loan. Many factors are looked at when applying for a loan, such as income, assets and credit. Student loan debt will affect your debt to income ratios, however, as long as you fit within the guidelines of the loan for which you are applying, and as long as your assets and credit, as well as your income are inline, you should be able to qualify for a loan. Obviously, everyone’s situation is different, so I highly recommended that you speak with a Mortgage Loan originator to see if you qualify. Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! SO please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!
Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is the typical down payment on a VA Loan? Most loans require at least a small down payment to buy a home, however VA loans are an exception to this rule. VA loans allow for 100 percent financing of the home’s purchase price, which means NO down payment is required for loans that are within the conforming limit (453,100 as of January 1st 2018, in most markets), given the borrower has eligibility (determined by the VA) and qualifies for the loan. Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! SO please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!
