I have clients call about a new home purchase, and the question is always the same: This is how much I make; this is my current debt; how much can I afford to buy? Based on the new Qualified Mortgage (QM) rules, I can answer for how much you, as a borrower, can get approved…
Some Mortgage Originators do not like the Max Points & Fees Caps that the Consumer Finance Protection Bureau (CFPB for short) has placed on the amount of money they can charge for originating your loan. This was created in response to the industry meltdown, and the abuses that came to light. Those Mortgage Lenders have…
A new controversial tax embedded in the Affordable Care Act affects homeowners who sell their homes for a substantial profit. Homeowners need to be aware of the new 3.8 percent net investment income tax. While this provision became effective Jan. 1, 2013, its effect is just now being felt by upper-bracket homeowners who have profitably…