closing costs: Video Tutorial: The Truth Behind Mortgage Quotes - 03/02/23 11:45 AM
Knowing the truth behind mortgage quotes has never been more important. As part of the MORTGAGE DEEP DIVE video education series, The Truth Behind Mortgage Quotes takes an in-depth look "behind the curtain" of how mortgage quotes are actually customized and quoted (and how consumes may be duped if they are not careful what to look for). If you are a prospective Borrower and/or a Professional who serves this population, this video is worth a look!
(2 comments)

closing costs: Understanding "Funds-to-Close" When Buying a Home - 10/28/22 09:09 AM
FUNDS/CASH TO CLOSE
("How much money do I need to "bring in" to buy my home, and where does that money go?")
 
The terms "Funds (or "Cash") to Close" refer to the total amount of money the Borrower/Buyer will bring in to purchase the new home.  The amount of money "brought in" can be summarized in the following categories:
Down Payment -- The difference between the loan amount and the purchase price.  Most Buyers/Borrowers will earmark either a "set dollar amount" or a "percentage of the purchase price" for their Down Payment. Non-Recurring Closing Costs (NRCC's) -- these are the "one-time costs" … (1 comments)

closing costs: Russia & Ukraine War - Impact on Mortgage Rates - 03/04/22 01:52 PM
The general rule to follow is that GOOD NEWS for the economy is BAD NEWS for mortgage rates (pricing)...and you guessed it, BAD NEWS for the economy is GOOD NEWS for mortgage rates (pricing).
In the video below, I provide a summary of recent mortgage pricing trends and how specific events (pandemic and Russia/Ukraine war) have had recently.
Should you and/or your valued Clients ever desire an objective and transparent conversation about mortgage options and/or pricing, please do not hesitate to contact me.
(4 comments)

closing costs: Mortgage Refinance - How To Calculate The "New Loan Amount" - 09/19/20 12:03 PM
How do you calculate the "New Loan Amount" on a Mortgage Refinance? 
(Why is my "New Loan Amount" so much higher than my current balance?)
 
These questions are common when refinancing, so let's take a deep dive at the details.
 
When refinancing, there are 4 "parts" to the NEW Mortgage Loan Amount:
Payoff of OLD Mortgage - which will always have accrued interest added to the principal balance. In other words, let's say for example that we paid off OLD Mortgage on 9/25/2020 It would be safe to assume that you would've already paid your 9/1/2020 payment to your OLD (Existing) Mortgage Lender by … (12 comments)

closing costs: Closing Escrow: Where does all that money go? - 10/05/10 09:12 AM
When you are buying a home, you will likely need to bring in money at the conclusion of your escrow period (also referred to as the "close-of-escrow").  The information below will help you understand where all of your money is going, which will be useful to help you manage your expectations and budget accordingly.  All of the information below carries an implied assumption that the Buyer is obtaining a Mortgage Loan as part of their home purchase (as opposed to paying "all cash" for the home).


1) EARNEST MONEY DEPOSIT: Typically, when you write an offer to purchase a property, you will … (4 comments)

 
Jason E. Gordon, Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE (CMG Mortgage, San Diego, CA)

Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

San Diego, CA

More about me…

CMG Mortgage, San Diego, CA

Address: 11440 W. Bernardo Court, Ste. 300, San Diego, California, 92127

Mobile: 619-200-8031

Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon

  • Blog
  • Google+


  • Listings

    Links

    Archives

    RSS 2.0 Feed for this blog