Welcome to our site!
Thank you for stopping by our mortgage web site. Even though we have taken special care and consideration to pack this online resource with a wealth of knowledge about the mortgage and real estate process, we want ...
Testimonials
Nick and Trevor, We just wanted to thank you guys for walking us through the purchase of our home. We really appreciated your willingness to explain each step as well as keeping us updated throughout the process. You guys were so easy to work with and I would highly recommend you to family and friends. Thank you! Benjamin and Aubrey Fick -------------------------------------------------------------------------------- Nick, You were very friendly and helpful, always available to answ ... Read More...
How Much Can I Afford?
How much mortgage money can I qualify to borrow? This is typically the number one question mortgage professionals are asked by new clients. Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for a comfortable long-term mortgage payment? The Quick Answer: If we're simply considering the financial math, lenders will calculate your Debt-to-I ... Read More...
Four Possible Reasons To Refinance
A mortgage is generally the largest debt most homeowners have to manage. It's a good idea to give your personal real estate finance portfolio a check-up at least once a year. Since there are many reasons a ho ...
FHA is Reducing Some Costs on FHA Refinance Mortgages
FHA has announced that they will be reducing some costs on their Streamline refinance program. The Streamline program is a quick and easy way for a borrower to refinance their current FHA loan into a lower interest rate. In the recent past, it has been difficult for an FHA borrower to take advantage of the Streamline program due to the fact the Mortgage Insurance costs had been so high. Here are the highlights: The up front mortgage insurance insurance cost (which is typically financed into the loan) is being dropped from the current 1% to .01%. The annual fee is being dropped to .55% (which is a big part of the total monthly mortgage payment. The impact of these new reduced fees is going to make it easier for borrowers to refinance into current record low interest rates and most borrowers will see significant monthly savings. The new fee structure goes into effect in June of 2012. I am advising my clients that are seeking to refinance their 30 year fixed FHA loans t ... Read More...
FHA Premuims to Increase April 1, 2012
Now may be a good time to get off of the fence and make a move quick! As you may have heard, beginning April 1st, 2012 FHA is increasing it mortgage insurance premiums on both it's one-time up front mortgage insurance premium as well as the monthly premium. MIP premiums will rise from 1.15% to 1.25%. The up-front premiums will rise from 1% to 1.75%. (which is financed into the loan) On a $150,000 purchase price with 3.5% down, a base loan amount of $144,750 and 3.75% 30 year fixed rate the math looks like this: The up-front MIP increases from $1,447 to $2,533 The monthly MI increases from $138 per month to $150 per month. This translates to a mortgage payment that is $20 higher per month. Ask Me About: *95% conventional loans with No Monthly Mortgage Insurance. Dont Forget About: *FHA 203K Rehab Loans *Section 184 Native American Loans *We service our own loans *In House Underwriters (Including Section 184 Underwriters) Sincerely, Nick Graziano Gateway Mort ... Read More...
Native American Mortgage
Section 184 Native American HUD Housing Program (CDIB Card Program) 3/1/2012 Gateway Mortgage Group offers and underwrites HUD's Section 184 Native American mortgage loan program! Section 184 HUD housing is a loan guarantee program that Congress established to help American Indian and Alaska Native families become homeowners. It provides low down payment mortgages to borrowers in addition to a repayment guarantee to lenders. Section 184 HUD Housing Program With this program the borrower works with a local mortgage lender who in turn works with a HUD expert trained in this program. HUD has approved lenders throughout the United States to offer this specific loan. Here's how it works: * Loan Application - The borrower contacts a local HUD-approved Section 184 lender and completes a mortgage loan application. * Local Lender Review - The lender reviews the mortgage loan application, the borrower's financial situation, and arranges for an appraisal of the property ... Read More...
203K Rehab Mortgage Loans
Have you found that “almost perfect” home in the right location that is selling at a reduced price because it needs a little rehab work? Unfortunately, most mortgage loan programs require homes "in need of work" to be complete before the financing can be secured for the purchase transaction. Whether the property needs a little or a lot of work, most First-Time Home Buyers simply don't have the up-front cash to invest in a property prior to actually securing the financing. However, the FHA 203(k) Rehab Loan may be your answer to turning that "fixer-upper" into your dream home. The FHA 203(k) Rehab Loan is a popular mortgage program designed for buyers that want to finance the cost of home improvements into a new loan. The financing for this loan will include the purchase price, as well as the improvements you are either required to do to be able to live in the home, or that you want to do, such as upgrade the kitchen, bathroom, etc. This is also a great loan program ... Read More...
Seven Things Your Agent Should Know About Your Mortgage Approval
While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.
New regulation, updated disclosures, appraisal guidelines, mortgage rate pr ...
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Ten Credit Do's and Don'ts To Bear In Mind Prior To Getting Your Mortgage Loan
How can a fully approved loan get denied for funding after the borrower has signed loan docs?
Simple, the underwriter pulls an updated credit report to verify that there hasn't been any new activity since original approval was issued, and the new ...
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Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?
Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence.
Perhaps you are outgrowing your current house, or have been forced to relocate due to a job ...
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8 Questions Your Lender Should Answer About Mortgage Rates
Simply checking online for today's posted rate may not lead to your expected outcome due to the many factors that can cause each individual rate and closing cost scenario to fluctuate.
We can preach communication, service and education all day long, but it's our ultimate goal to earn your trust so ...
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What Do Appraisers Look For When Determining A Property's Value?
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property.
A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection.
However ...
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Where Does My Earnest Money Go?
Hey, I gave my real estate agent a $5000 Earnest Money Deposit check... Where does that money go?
A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted.
According to Wikipedia:
Earnest Money - an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good- ...
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Nick Graziano
My goal as Mortgage Consultant is to continue to provide a one on one relationship with all of my customers, and making Home Ownership an enjoyable lasting experience. I want to provide customers with different loan options that will meet their family and individual needs. The best feeling in the world is to help make people’s dreams come true. I can think of no other job that offers this kind of reward. I consider myself lucky that I can share a small part of that. I look forward to working with you.
