Stephen Katz Mortgage Blog

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Mortgage and Lending - Katz Mortgage Team, a branch of VanDyk Mortgage Corporation
Are you a first time home buyer? Are you trying to determine your budget? We (lenders) are more than happy to help you find your answer(s), but here are some tips to get you started:One of the first things that you’ll want to look at is your credit. If you do not have any credit established, you’...
Are you looking to buy your first home? Well look no further, because I’m here to walk you through the entire process!Step 1: Determine if you are ready to purchase a house. This is something that only YOU can decide, however, here are two key points to keep in mind:-          Why do you want to ...
Are you a renter who is looking to purchase a home of your own? If so, you've come to the right place!Many of our clients have said to us that they wish they would have made their purchase years ago, instead of renting for a long period of time. With interest rates as low as they are, we want to ...
The number one question that we get asked every day from potential clients is, “What is your current interest rate?”If only that question had a simple answer. If it were as easy as just spouting off a percentage, you might not even need us. That’s because understanding and getting your interest r...
Have you ever been rejected for a mortgage due to your debt-to-income ratio? Or know someone who has? Well good news: starting July 29, Fannie Mae is raising the DTI ceiling to 50 percent! Currently, it sits at 45 percent.Never heard of DTI? Debt-to-income ratio takes your gross monthly income an...
Today, we’ll talk about what title insurance is and exactly what you’re paying for.Whenever I sit down with a borrower, they ask what fees they can expect when they’re getting ready to close. One of those components is title insurance, which can be kind of pricey, but is very important. The impor...
Today, I’ll discuss the importance of the pre-approval process. The pre-approval process is imperative and essential to be completed prior to you making any offers. The listing agent and seller typically require a pre-approval letter to accompany your offer with the Realtor you work with.This pro...
Are you thinking of hiring a buyer's agent? If so, there are questions you should ask to ensure you hire somebody you can trust. Here are a few to keep in mind:  ●     Are you a full-time agent?●     Do you work exclusively with buyers?●     Do you have a team behind you?●     Do you have testimo...
Today we are going to discuss whether it is better to pay the closing costs in cash upfront or to take out a higher home loan. The difference could cost you thousands. It’s very common for sellers to be asked to pay closing costs by the buyers, so keep this in mind. Let’s say you want to buy a ho...
Whether you're buying or selling a home, you're going to have to go through the negotiation process. Today I will be outlining the four major stages of negotiations. Ideally this will prepare you for anything that may come your way.  1. Getting the offer accepted: You have agreed on price, terms,...

Stephen Katz

Branch Manager, CMPS
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