Dave Muti's Blog

Mortgage and Lending - Mortgage & Home Finance Expert
Q.  I heard that despite the low interest rates lenders are not lending money and if they are you need to have a credit score north of 750, is this true? -Steve A.  I know that our politicians and media love to say this but it is simply not true.  The folks who have no direct experience (they are...
Q.  I just closed on my loan in September and with rates getting lower should I refinance my mortgage?   A.  Nancy, this is a great question and I am glad to see that you are monitoring your finances so diligently.  The answer is maybe!  The reason that I cannot answer definitively is that I do n...
Q. What kind of documents do I need to submit for a mortgage? A.  Today most borrowers need to obtain a loan under the full documentation program.  Most lenders have reverted back to the way things used to be done.  In essence, you must be able to prove and document your income.  First and foremo...
Many people going though a divorce want to remain in the home for sentimental reasons.  Other times it is out of spite that they want to keep the house the soon to be "ex" worked so hard to get or was proud to have.  But staying in a house they cannot afford because they are emotionally attached ...
Divorce and Mortgages:  My client's property settlement agreement provides that the mortgage remain in place and that the house will not get sold until the children graduate high school in three years; do you still recommend seeking counsel of a mortgage planner to review the situation? Yes becau...
By having your client sit with a mortgage planner during the formation stages of the settlement strategy you can get an accurate picture of what your client will be able to afford, be it for refinancing the current residence or to purchase a new one. This will have a big impact on the direction o...
FINANCIAL MISTAKES TO AVOID WHEN BUYING A HOMEBy Dave Muti, author of Mortgages: What You Need to Know If you are looking to buy a home in the coming months you will be faced with a ton of decisions. We all know that the "process" can sometimes be dizzying so I will try and clear the cobwebs by p...
Start with the bank that you use now. Quite often in this environment they will give since they make money off you as a retail bank. Next check with Sterling Trust, Bank of America, Wells Fargo and Washington Mutual. They are the largest lenders in the area. After you know what the banks can do t...
Although it appears that there are great deals to be had, my advice for the average person is to stay on the sidelines and leave investments in the real estate market to the professionals. My reason for this cautionary approach is that I do not believe we are close to a bottom in the market. Seco...
This is a problem that many would be sellers are facing. So how do you price your home to sell? First a reality check; you have to remove your emotion from the equation. Remember it is business and prospective buyers are not concerned that you put your blood sweat and tears into your home. Also, ...

Dave Muti

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