Author Archives for Pacific Residential

spouse credit

Does Your Spouse’s Credit Affect Your Loan?

June 11, 2019 12:57 pm Published by Comments Off on Does Your Spouse’s Credit Affect Your Loan?

There are far too many misconceptions circulating about what happens to credit after people get married. Some of them are more like urban-legends, including plummeting credit scores if your spouse has a heavy load of debt such as student loans. Nothing could be further from the truth. Despite this type of over-the-top misinformation, there may... Read More

3 Long-Term Benefits of Homeownership

June 6, 2019 9:46 am Published by Comments Off on 3 Long-Term Benefits of Homeownership

Owning a home has long been part of the “American Dream”. But as you already know, this is no easy goal to accomplish. Buying a home is often the single most expensive (and important) purchase of a person’s life. For this reason alone, it’s worth considering the long-term implications of homeownership. Everyday Americans are bombarded... Read More

FHA manual underwrite client

FHA Manual Underwriting

May 14, 2019 4:30 pm Published by Comments Off on FHA Manual Underwriting

The housing and mortgage lending industries both gained unprecedented efficiencies in the technology era. Potential buyers can watch 360-degree videos of homes and even secure a mortgage online using most electronic devices. However, despite all of these e-advancements, the “old school” practice of manual underwriting is actually making a comeback. What You Should Know About... Read More

What is a Reverse Mortgage?

April 30, 2019 3:11 pm Published by Comments Off on What is a Reverse Mortgage?

A reverse mortgage is a loan program designed to help clients age 62 or older to improve their quality of life through improved finances. Reverse mortgages allow qualifying homeowners the ability to borrow against their home equity and convert that asset into a source of income. A reverse mortgage, also called a Home Equity Conversion... Read More

couple considering home decorating tips

Decorating Tips for Spring

April 25, 2019 1:14 pm Published by Comments Off on Decorating Tips for Spring

Buying a home is a big deal. It can come with stress and nerves, especially if you are purchasing your first home. In addition to the stress, keep in mind that it also has a lot of joy and excitement as well. One of the most exciting parts of owning a home is being able... Read More

Couple considering Mortgage Relief Options

Mortgage Relief Options Deadline Approaching

April 24, 2019 4:11 pm Published by Comments Off on Mortgage Relief Options Deadline Approaching

The subprime mortgage crisis of 2006 upended the U.S. economy and created an unprecedented housing crisis that overwhelmed many homeowners starting in 2007. Home values plummeted, a recession struck, and unemployment skyrocketed. Needless to say, this perfect storm of economic woes resulted in significant foreclosures and bankruptcy filings. People sought out mortgage relief in any... Read More

Happy couple considering HELOC

HELOC: What You Should Know

April 17, 2019 11:34 am Published by Comments Off on HELOC: What You Should Know

Over the past two weeks, we addressed what a HELOC is and how the HELOC process works. This week, it’s time to address some additional factors you should be aware of before you commit to a HELOC. It’s no secret that the U.S. economy was depressed for several years. During the economic slump, lending guidelines... Read More

Young Couple Renovating after a HELOC

The HELOC Process

April 10, 2019 9:19 am Published by Comments Off on The HELOC Process

Last week we covered the basics of what is a HELOC. Now that you understand the basics of a HELOC, the next step is to go through the detailed application process. Although the procedure varies between lenders*, the following HELOC step-by-step guideline generally applies. 1: Review Your Credit Records Take a moment to check on... Read More

couple redecorating after HELOC

What is a HELOC?

April 3, 2019 2:33 pm Published by Comments Off on What is a HELOC?

There comes a day in every homeowner’s life when you want to undertake a home improvement project that exceeds your bank account. Whether it involves hiring a contractor to build your dream kitchen or you just need a new roof doesn’t matter. What’s important is the specific loan product you select; specifically, should you go... Read More

Don’t Get Conned by Real Estate Wire Fraud

March 28, 2019 4:54 pm Published by Comments Off on Don’t Get Conned by Real Estate Wire Fraud

How to Avoid Big Mistakes in the Real Estate Closing Process There has been a recent increase of real estate wire fraud, but you have the power to spot the warning signs before it happens to you. According to data provided by the FBI, in 2017, close to $1 billion was “diverted or attempted to... Read More