Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage and Lending - Cambria Mortgage - NMLS 274132
Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use
RECENT BLOG POSTS
There are benefits to being self employed. Writing off items, and reducing your tax liability can be one of them.  That is great...  until you try getting a home mortgage loan, and you don't show enough income to qualify, then you get denied because you don't meet the current ATR (ability-to-repa...
10/29/2020
A common question people applying for home mortgage loans is how does their deferred student loan effect mortgage qualifyingFirst understand that while a student loan may be deferred, lender reasoning is that eventually you will have to start making a payment, so we must calculate something into ...
10/19/2020
Can I get a new mortgage loan after a COVID related mortgage forbearance?Yes, homeowners who have been granted forbearance from making full payments because of the COVID-19 crisis may still be able to refinance or buy a new home when the crisis ends.When a borrower experiences significant reducti...
10/15/2020
Mortgage rates return to record lowThe benchmark 30-year fixed rate mortgage averaged 2.81% percent with an average 0.6 points / origination for the week ending October 15, 2020, down from last week when it averaged 2.87%, according to the weekly survey by Freddie Mac.A year ago at this time, the...
10/15/2020
Is your mortgage payment squeezing your wallet?I get it. I just cash out refinanced a client that was furloughed for the months of March, April, and May because of COVID-19. Needless to say, income was down and credit card balances went up.Now back to work, a cash out refinance was the perfect to...
08/11/2020
Can I get a new loan after forbearance?Homeowners who have been granted forbearance from making full payments on their Fannie Mae or Freddie Mac backed loans during the COVID-19 crisis may still be able to refinance or buy a new home when the crisis ends.The Federal Housing Finance Agency (FHFA) ...
07/02/2020
Minneapolis, MN: According to a survey by Fannie Mae’s Economic and Strategic Research Group, many consumers think it’s difficult to get a mortgage in today’s market.And forty five percent of those respondents cite too much existing debt as a top reason. Yet, in that same group, more than half do...
06/23/2020
Many people are struggling these days. Mortgage forbearance (pausing payments) may seem like the answer.One of the biggest questions people are asking is, will forbearance hurt my credit score?  The answer is both no and yes.Per the CARE ACT, lenders are not allowed to report any paused (missed) ...
04/28/2020
We get it, these are challenging time, with stay at home ordfers, reduction in hours, and job loss, making your house payment can be a challenge for many people.As part of the CARE ACT, the government has forced lenders to offer forbearance to anyone who asks WITHOUT requiring proof of hardship. ...
04/22/2020
Found a diamond in the rough?Cambria Mortgage Renovations loans can help in MN, WI, IA,ND, and SD There are many homes in the market that are a diamond in the rough. With a little vision, elbow grease, and a little money, many of these homes can be restored to their former glory, and then some. H...
02/20/2020
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Joe Metzler

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Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use. Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.