Jordan Schick's (jschick) Blog

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Mortgage and Lending - Lincoln Savings Bank - NMLS# 37662
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).Coming just weeks before the April 30 deadline ...
  USDA Rural Development Loans 100% No Money Down Efforts to strengthen the economy of rural communities in Iowa include the USDA Guaranteed Housing Loan, which provides 100% financing for borrowers in towns with populations of 10,000 or less.  This loan is available for borrowers to purchase a ...
Mortgages are in the news again today...but this time, the news is good! Especially for people looking to buy or refinance a home, as interest rates have dropped to the lowest levels seen since April. You've probably heard that Fannie Mae and Freddie Mac were taken over or "bailed out" by the Fed...
Annual Percentage Rate (APR) is a tool that consumers can use as a starting point to compare loan programs. However, it's important to keep in mind that APR is not a perfect system, and not all lenders calculate APR in the same way. While the Federal Truth-in-Lending Act does require any mortgage...
Few things are as devastating as losing your home. Sadly, it's not always inevitable. In many cases the foreclosure could've been avoided with some outside help. You are in a unique position to advise your clients in financial matters. If you know that a client is on the path toward foreclosure, ...
Buying a home is one the biggest financial decisions most people will make in their entire lives, so it's only natural to have questions about the process, especially for first-time home buyers. That's why I've put together a First-Time Home Buyer's Kit. The free kit includes our Home Buyer's Ha...
Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail ...
This may come as a shock to many borrowers, but it's absolutely true. Mortgage interest rates are not set by the Federal Reserve and, contrary to popular belief, mortgage rates are not directly tied to the yields of US Treasury bills, bonds, or notes - including the 10-year Treasury Note. That's ...

Jordan Schick

VP Mortgage Lending
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