Bryan's Blog

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Mortgage and Lending - Ascent Home Loans
RECENT BLOG POSTS
  This question is asked often when I have people apply for a new mortgage and with good reason. You might believe that if your payments were made on time that should give you at minimum, a good credt score. Not Always True!   Credit scores are composed of multiple pictures of your financial heal...
06/08/2008
I have always found this to be one of the most interesting arguments in the financial world. The payoff of your mortgage as soon as possible, is, of course, the old way of looking at owning your home free and clear. The pay it off method argument : "it is better to own the roof over your head tha...
05/24/2008
A new change is coming for FHA in July....Read on...... This new change from FHA comes from a study that they did that showed them that of the home loans generated in 2007, borrowers who earned less income(family median of 48,756.00), had a score of 680 or higher. While borrowers who had a higher...
05/18/2008
Over the recent weeks I have spoken with mutiple individuals with a 620-639 fico asking should we go FHA or conventional? In this scenerio I would recomend, well that depends. Heres why: These clients have found a home to purchase and have enough money for a 95% loan.(I use this as it is the maxi...
05/12/2008
After another month has gone by with even more guideline changes for home mortgages, that have put the squeeze on borrowers who have "less than perfect credit" and for those who have less than 5% to put down have  resultied in leaving some borrowers out in the cold. This is a sad thing because th...
05/03/2008
Yesterday a client came to me about the purchase of a doublewide manufactured home.To be clear: A manufactured home is considered by underwriting standards to be a home that is built on a permanent chassis, then attached to a foundation. To submit such a dwelling, these factors must be met:The fo...
04/27/2008
I just finished an application in which the client had been given a 5 year prepayment penalty on a  5 year ARM.The customer took the loan in 2005 for 200K and is paying  9.5% for a monthly figure of 1681.71 not including taxes and insurance.He had to sell his home because of an employment change ...
04/26/2008
This is my chance to write about, what is without a doubt, my favorite place to live. I have never lived in a location that by itself was so beautiful and full of charm, but also has my type of seasons(never any serious snow or humid weather). I lived in NH and SW Florida!I was told by people who...
04/24/2008
 After planting new shrubs, sod, etc in my yard last week. I decided to take a drive around the neighborhood and see whats up(sometimes I feel like a hermit, as I spend alot of my time at the computer).It was nice to see people working away on their yards also, and getting ready for spring. I  no...
04/23/2008
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 I was sitting here getting ready to write about some new guideline changes, but wanted to be more upbeat and  a little less dry today and talk about whats so great about todays real estate and lending market and what I call a return to earth.In a nutshell:First real estate prices are low, I do b...
04/18/2008