Big words, made small
Mortgage words sound scary. They’re not. Here they are in plain language.
How the world around a mortgage actually works
Short reads, in plain words, with no rates and no forecasts. Each one answers a question people ask me in the first ten minutes of a conversation.
The bond market · 6 min read
Why mortgage rates move before the news does
By the time a headline says rates went up, the move happened days earlier, in a market most people never look at. Here is the chain, with no jargon and no forecast.
Read →The Federal Reserve · 6 min read
The Fed does not set your mortgage rate
Every few weeks the news says the Fed raised or cut rates, and people call me expecting their quote to have moved the same way. Often it has not. Sometimes it moved the other way. Here is what the Fed actually controls, what follows it, and what does not.
Read →The data calendar · 7 min read
The two reports that move mortgage rates the most
Twice a month, before the market opens, a government report lands and the bond market decides within minutes what it thinks. Those two mornings move mortgage pricing more than most Fed meetings do. Here is what is in them, and why good news is so often bad news for a quote.
Read →Getting ready to buy · 6 min read
Pre-qualified or pre-approved: the difference a seller can see
They sound like the same thing, and plenty of websites use them as if they were. To the agent on the other side of your offer they are not even close. Here is what each one checks, what each one is worth, and what neither one promises.
Read →Negotiating the offer · 7 min read
Seller credits: the same money, three different deals
When a seller agrees to give something, most buyers ask for a lower price. Often that is the weakest way to take it. Here is what a price cut, a closing-cost credit and a temporary buydown each do with the same seller money, and how to choose.
Read →Under contract · 7 min read
The appraisal, and what happens when it comes in low
Your offer was accepted and the inspection is behind you. Then a stranger with a tape measure decides what the house is worth to the lender. Here is how that number is reached, why it can land below your price, and the four ways a deal gets through it.
Read →Under contract · 8 min read
From contract to keys: what happens, week by week
The contract is signed and everyone says congratulations. Then come several weeks in which a lot happens that you never see, and a few things that only you can do. Here is the whole stretch in order, with the Florida stops other guides leave out.
Read →Self-employed · 7 min read
Buying a home when you work for yourself
You earn well, your business is steady, and a bank still told you the numbers do not work. Usually the problem is not your income. It is which document the lender read it from. Here is why that happens and the other ways income can be shown.
Read →More coming. If there is a question you want answered here, reply to any of my emails and ask it.
Will this hurt my credit?
Starting does not touch your credit at all. Later, one credit check is normal, and it only moves your score a tiny bit for a short time.
How much money do I need to start?
Nothing to start — my help is free. What you bring to closing depends entirely on which program fits you, and for several of them it is far less than people expect. Working that out is usually the first thing we do together.
I’m self-employed. Can I really get a loan?
Yes. We can use your bank statements or a profit summary instead of pay stubs. It’s what I do best.
How long does it take?
Usually about 30 days from application to keys. Sometimes faster.
¿Puedo hacer todo en español?
¡Sí! Todo el proceso puede ser en español — llamadas, mensajes y explicaciones. Hablamos tu idioma.