Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage and Lending - Cambria Mortgage - NMLS 274132
Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use
Is your mortgage payment squeezing your wallet?I get it. I just cash out refinanced a client that was furloughed for the months of March, April, and May because of COVID-19. Needless to say, income was down and credit card balances went up.Now back to work, a cash out refinance was the perfect to...
Many people are struggling these days. Mortgage forbearance (pausing payments) may seem like the answer.One of the biggest questions people are asking is, will forbearance hurt my credit score?  The answer is both no and yes.Per the CARE ACT, lenders are not allowed to report any paused (missed) ...
We get it, these are challenging time, with stay at home ordfers, reduction in hours, and job loss, making your house payment can be a challenge for many people.As part of the CARE ACT, the government has forced lenders to offer forbearance to anyone who asks WITHOUT requiring proof of hardship. ...
Found a diamond in the rough?Cambria Mortgage Renovations loans can help in MN, WI, IA,ND, and SD There are many homes in the market that are a diamond in the rough. With a little vision, elbow grease, and a little money, many of these homes can be restored to their former glory, and then some. H...
Minneapolis / St Paul, MN:  The economy is doing great, and mortgage interest rates are at, or hovering just slightly above all time lows, which has many people thinking of refinancing.Most, but not everyone has a great interest rate, but do you know how your current loan compares to today's mark...
Get a Real Mortgage Rate Checkup!Minneapolis, MN: Homeowners everywhere are constantly wondering how their existing mortgage interest rate compares to today's market rate, or what a new payment on a new home might look like compared to their existing mortgage payment.So the typical go to method t...
Self-Employed and looking for a mortgage? It can be challenging to get a home loan when you are self employed, primarily due to the inability to properly show enough income to qualify.   Did you know, that is a self-employed person, there are alternatives to traditional income options, including...
Minneapolis, MN: If you are in the process of, or about to be buying a home, there are many DO NOT DO items that can unintentionally turn your mortgage loan pre-approval unto a loan denial. Some may make sense, like don't quit your job during the process, but the number of people who actually do ...
Have you seen the advertising by one of the big credit bureau's on how you can boost your credit score. Sounds great, but it appears it isn't going to help anyone get a mortgage loan.Experian recently create an offer where you can self-report trade lines, such as utilized, cell phone, etc, to “bo...
 Why should I be pre-approved for a mortgage loan?Minneapolis, MN: In recent years, mortgage guidelines were tightened. Documentation requirements have been expanded and followed more closely. A pre-approval gets you through the initial process and uncovers any potential pitfalls long before you ...

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