mortgage: What is Mortgage Recasting?
- 01/16/24 08:08 AM
What is a Mortgage Recast?Minneapolis, MN: Here in Minnesota where I am based, when you hear 'recast', you might think about casting a line for a big walleye, but actually, a mortgage recast is a little know tool that can allow you to potentially get a lower monthly mortgage payment without the need to actually refinance your current home loan.
As a way to save money on interest over time, smart people know that paying as little as one extra payment a year, starting at the beginning of your loan, reduces a 30-year mortgage by six or 7-years. But whether you add … (1 comments)
|
mortgage: Understanding Pre-Qualify vs Pre-Approval
- 10/24/23 09:52 AM
Understanding Pre-Qualify vs Pre-Approval vs Final Loan ApprovalMinneapolis / St Paul, MN: In the mortgage lending world, lot's of terms get thrown around, a lot of time causing confusion.
YOUR VERY FIRST STEP in the home buying process is getting approved for financing, so here we will explain the differences in mortgage loan approvals, so both you are your Real Estate Agent know where you really stand with correct terminology.
Mortgage Pre-QualificationThis is where most people start in the mortgage process, with a basic mortgage pre-qualification. This is a quick assessment to determine whether your income, credit, and debt-ratio may fit current home … (1 comments)
|
mortgage: YOU can stop being a renter!
- 07/28/23 02:13 PM
If you’re like many renters, you rent because you think you can’t afford a home. Maybe you don’t have down payment money or you think you simply won’t qualify for a loan. To make matters worse, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle! You feel like you’re stuck in a renter’s rut with no way of raising up and out of it and owning your own home.
Look, if you have OK credit score of … (3 comments)
|
mortgage: Is NOW a Good Time To Buy A House?
- 06/23/23 01:03 PM
Is NOW a Good Time To Buy A house?Minneapolis, MN: Pick your poison... Buy now, and refinance when mortgage rates come back down? Or wait to buy, and watch house prices keep rising, getting more expensive while you sit on the sidelines?
Cambria Mortgage is dedicated to providing opportunities for first time home buyers with multiple low and no down payment programs, including first time home buyer programs with down payment assistance.
Interested in buying a home, or finding out what you qualify to purchase? We make it easy. Just call our loan experts at (651) 552-3681, or visit JoeMetzler.com/apply to start a no cost, no obligation … (3 comments)
|
mortgage: Should you keep renting, or is it time to buy?
- 05/17/23 12:07 PM
Minneapolis, MN: Should you keep renting, or is it time to buy? That is a question may people are asking right now.
You have to live somewhere, and that somewhere almost always should be your own home, plus the benefits of homeownership generally mean, no matter what is going on in the real estate markets, you should buy a home NOW vs waiting.
Home prices continue to climb, with no sign of going down. Mortgage interest rates are higher than just a few years ago, but you can always refinance to lower rates when they come back down, and they will come back … (3 comments)
|
mortgage: Yes, mortgage rates are higher today, but...
- 04/14/23 12:09 PM
Yes, mortgage rates are higher today, but...Minneapolis, MN: Everyone is talking about today's higher mortgage interest rates, but that is only compared with the past two years. From a historical standpoint, mortgage rates are not bad. Plus, home ownership is a lot more than just rates. You need to zoom out for the big picture.
With over 50-years combined experience, multiple local, reginal, and national awards, the Joe Metzler Team of Joe and Eric Metzler at Cambria Mortgage are your local Minnesota based Trusted Advisor, serving Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, and Florida.
Ready to find a home in today's market? Our mortgage … (0 comments)
|
mortgage: Mortgage 101, a home buyer seminar
- 04/14/23 11:25 AM
Mortgage 101, a first time home buyer seminarMinneapolis, MN: If you are thinking about buying a home, this video is for you.
Mortgage 101 - A 30 minute Home Buyer Seminar explaining the home buying process by Cambria Mortgage, the Joe Metzler team. Great for first time home buyers. Everything you need to know about the mortgage process from A to Z. Popular home loan programs, conventional loans, FHA loans, USDA loans, VA loans, and even alternative loans. What mortgage lender is best to you, interest rates, the underwriting process and more.
With over 50-years combined experience, multiple local, reginal, and national awards, the Joe … (0 comments)
|
mortgage: The Three Types Of Mortgage Loan Officers
- 04/12/23 02:00 PM
The Three Types Of Mortgage Loan OfficersMinneapolis, MN: Congratulations on wanting to buy a home. Unless you have cash, you are going to need financing. If you need financing, you are going to speak to a Mortgage Loan Officer.
Not all Loan Officers are created equal. Assuming the person who answers the phone, just because they say they are a Loan Officer is a qualified person, is a big mistake. Understanding the differences between Loan Officers is important to the success of your loan.
The Application ClerkUnfortunately, this is where the bulk of Loan Officers fall. Lower level, lower education, low experience people … (2 comments)
|
mortgage: Spring 2023 Real Estate Market Is Different. Here is what you need to know.
- 03/21/23 12:26 PM
2023 Spring Real Estate Market Is Different. Here’s What You Need to KnowMinneapolis, MN: It may not feel or look like spring in many areas yet, but as of Monday March 20th, it’s here! So does that mean the spring real estate market officially begins that day as well? Or does it kick off the weekend before or the weekend after since the first day of spring falls on a weekday? None of the above actually.
In fact, the spring market has already begun! Many people in the industry consider January to be the start of the spring real estate market. At … (1 comments)
|
mortgage: Housing Supply and Demand in 2023
- 02/03/23 09:05 AM
Real Estate Supply and Demand.Minneapolis, MN: The current inventory of homes for sale remains at low levels, yet with higher interest rates and economic uncertainty, demand and price growth has slowed, but has not stopped.
BASIC MARKET FORCES AT WORKBuyers previously stuck in bidding wars over asking price and sometimes against dozens of competing offers now suddenly find themselves in a more historically normal atmosphere.
Sellers may now again be more inclined to negotiate and allow for traditional buyer protections, like home inspections, and common items like seller paid closing costs, and common contingencies, like you have to sell your existing home.
Great … (1 comments)
|
mortgage: Buying versus Renting Still Makes Sense
- 08/23/22 08:28 AM
Minneapolis, MN: Yes. home prices are rising. Yes, mortgage interest rates are rising.But rental costs are rising too.
So while it’s true that today's home buyers might have to lower their purchase price budgets, they can take comfort in knowing that they’re making a monthly housing payment one way or another. It will benefit them greatly if, in the long run, their housing payments are going to a home they own versus the landlords pocket.
Imagine if you had bought a home just 3-years ago... How much equity you would have earned!Cambria Mortgage, The Joe Metzler Team has been helping home buyer, and … (3 comments)
|
mortgage: Rates rising, but still historically good
- 03/28/22 08:57 AM
Minneapolis / St Paul, MN: Mortgage interest rates have always been a roller-coaster ride. Ups and downs, and twists and turns.
With the pandemic induced interest rate lows of 2020 and 2021 now a thing of the past, the return to a more normal interest rate patterns has many people freaked out.
This historical mortgage interest rate chart from March 1971 to March 2022 is very interesting to look at.
Oh course any rise in mortgage interest rates has an impact on a home buyers purchasing power, especially first time home buyers, so people are asking if they should wait to buy a home … (3 comments)
|
mortgage: Play Our Home Buyer Game Show
- 03/17/22 09:10 AM
Buying a home doesn't need to be complicated!Minneapolis, MN: When you're preparing to buy a home, especially for first time home buyers, it's really important to know what actions can make or break your transaction.
Buying a home doesn't need to be complicated, but it's important to be informed and be mindful of how your decisions may effect your qualification for a mortgage. Doing things like continuing to pay your rent or current mortgage on time, maintaining consistent employment and avoiding opening any new lines of credit (No, you would NOT like to save 10% by opening a Kohl's card today!) will … (1 comments)
|
mortgage: Mortgage Closing Guarantees - Fact or Fiction?
- 12/21/21 08:28 AM
Mortgage Closing Guarantees – Fact or Fiction - Don’t be fooled. Minneapolis, MN: We are starting to see them pop up everywhere, mortgage companies, mortgage brokers, and lenders, making these great sounding mortgage closing guarantees, where they make claims of paying $500, $5,000, or ever $10,000 guaranteed if they don’t close your loan, or if they don’t close on time.
These offers vary from lender to lender, but the basics are the same. Claiming to pay someone if something happens. Some claim to pay the seller if the deals falls apart. Some claim to pay the Realtor, some claim to pay the … (1 comments)
|
mortgage: 2021 Super Mortgage Professionals ™
- 10/29/21 08:01 AM
The members of the 2021 list of Super Mortgage Professionals™ have been identified and have been published in the November issues of Minneapolis. St. Paul Magazine and Twin Cities Business Magazine. Cambria Mortgage is pleased to announce that eight Loan Officers made the list and are among the top 2 percent of mortgage professionals in the Minnesota, Twin Cities market, including Joe Metzler, from our St Paul, MN Office. Joe is a multi-year award winner. Each 2021 Super Mortgage Professional™ has been evaluated by their homebuying clients who have recently purchased a home for $150,000 or more. They are critiqued on the … (1 comments)
|
mortgage: Are you searching for your dream home?
- 08/26/21 08:36 AM
Are you searching for your dream home?Maybe you've just found it, and are wondering what's next?
A good first step is to always pre-qualify for a mortgage so you know how much you may be able to borrow. A pre-qualification also is required to make an offer, and lets sellers and real estate agents know you are a serious buyer who can get a loan.
3 Easy Steps to Mortgage Pre-Approval:It is super quick and easy to get pre-qualified. You can apply today, and get an answer today!
Complete the loan application. You can apply online, via your smartphone, in office, or over … (1 comments)
|
mortgage: Beware of Quick Refinance Closings
- 03/21/21 07:52 AM
Mortgage interest rates are hovering near historic lows. Your phone, email, and mailbox are full of offers from lenders nationwide all promising great rates.
You may have even accidentally responded to some ad promising rates so good, even good couldn’t get them. Only to find out it was really just an aggregate site like Lending Tree who isn’t even an actual lender. Rather, they bait you with awesome rates, then sell your information to multiple real lenders, who all now telemarket you to death.
Refinancing makes sense, so who do you pick?It is well documented that your best deals are usually at your … (1 comments)
|
mortgage: The proper use of forbearance
- 04/22/20 08:48 AM
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. A better understanding of forbearance would be to say "short term pause."
Both lenders and the National Association of Realtors are working diligently to educate people on proper uses of forbearance. (See NAR’s recent FAQ)
Forbearance should only be used by homeowners who are genuinely in distress and cannot afford to make … (0 comments)
|
mortgage: The Pre-Approval Advantage
- 11/26/19 01:08 PM
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 become obligated by a contract to purchase.
What Advantages will I have once pre-approved?
You'' be certain about the price range that's best for you. You'll know how much cash you'll need to close, and you'll know your estimated monthly payment. Understanding your limits will help you negotiate with confidence. Plus, since sellers like a sure thing, you'll have an advantage … (0 comments)
|
mortgage: The Digital Mortgage Hype
- 07/18/18 03:44 PM
The Digital Mortgage Hype
It is 2018. The number of people who physically step into a bank or mortgage lender to do a home loan application is dwindling everyday. The vast majority of people now complete an online loan application on a desktop computer, iPad, or even apply via a Smartphone.
Technology allows lenders to do more parts of the process electronically that ever before, including electronically signing your application documents, secure uploading of your documents, and even apps that let you check the current status of your application 24/7.
Very cool technology, with this process now commonly referred to as a 'Digital Mortgage'.
I … (0 comments)
|
|
|
|
What is a Mortgage Recast?Minneapolis, MN: Here in Minnesota where I am based, when you hear 'recast', you might think about casting a line for a big walleye, but actually, a mortgage recast is a little know tool that can allow you to potentially get a lower monthly mortgage payment without the need to actually refinance your current home loan.
;)
;)
;)
