Doctor Loans Program with Minimal Down Payments
Creative Solutions for Doctors with Negative Savings to Acquire Homes with Minimal Down Payments Considering the Doctor Loans Program by Blake Mortgage. Would this be the answer for physicians with negative savings? The dream of owning a home may seem out of reach for doctors with negative savings due to hefty student loans and other […]
The Top 5 Misconceptions About VA Home Loans
Are you a veteran looking to buy your primary home? It’s exciting, but there may be misconceptions surrounding VA home loans. Therefore, it’s vital to get the facts about these loans upfront. You will make the right decision by knowing the facts about VA loans. What type of property can you qualify for? How much […]
How DSCR Loans are Used in Multifamily Investing
A DSCR loan or Debt Service Coverage Ratio loan is associated with real estate investments for income-producing properties. Qualifying requirements include demonstrating that the property will generate enough rental money to cover the debt payments over time. When assessing eligibility, the lender evaluates financials like rent rolls, capital expense estimates, operating costs, and cash flow […]
Credit and Lending
Why This Blog? Hi, my name is Harry Panosian, and I have been in the mortgage business for over 25 years. I worked for a mortgage banking firm early in my mortgage banking career. Since 2002 I’ve owned Blake Mortgage, NMLS ID 150459, an Arizona-licensed mortgage broker specializing in residential mortgages. I’ve always wanted to […]
How to Shop for A Mortgage
Shopping for a mortgage can be daunting. But it’s essential to securing a home loan that fits your needs and budget. The Consumer Financial Protection Bureau (CFPB) has created a “Home Loan Toolkit” to help you navigate the process. This guide will break down the critical steps in the shopping process. Including understanding the different […]
Rental Property Mortgage: A Complete Guide
Investing in rental property can be a lucrative financial decision for those with the resources to do so. However, one of the critical factors in successfully owning a rental property is securing the right mortgage to finance it. This guide will discuss the various loan options available, the application process, down payment requirements, closing costs, […]
Mortgage Rates Rising!
Mortgage rates have spiked up to almost 7%, the highest level over a decade, causing concern among homeowners and potential buyers alike. Inflation is a crucial factor impacting mortgage rates and the real estate market, and it’s essential to understand the implications of these trends. This article will explore why mortgage rates have spiked, how […]
“No Cost Loan?” There’s No Free Lunch!
Over the years, lenders have marketed a specific type of loan generically known as a “No-cost loan.” There is no free lunch! What do I mean by that? First, there are many costs associated with originating the loan. It includes: The loan estimate and closing disclosure break down these fees so the borrower can see […]
Bank Statement Loans for The Self Employed
In recent years, bank statement loans have become increasingly popular as an alternative form of financing. This type of loan is for those who may not meet traditional lending criteria. These loans are specifically designed for self-employed individuals, small business owners, and entrepreneurs. Who have difficulty providing the necessary documentation to prove their income. What […]
What is DSCR or Debt Service Coverage Loans?
Do you need DSCR or Debt Service Coverage Loans? People often ask if real estate investments are still the best way to grow wealth, especially with various other investment options like stocks, bonds, and cryptocurrencies. The short answer is YES. Real estate investments offer steady income cash flow, especially when you have one or two […]
