Why Is My Payoff So High?
Work

Why Is My Payoff So High?

This question comes up during just about every refinance transaction.  Clients want to know why their mortgage payoff is higher than the principal balance reflected on their most recent mortgage statement. The answer:  Your mortgage loan payment is paid in arrears.  Therefore, when you make your June payment, you are actually paying the interest from the … Continue reading

Contemplating Buying an Investment Property?
Work

Contemplating Buying an Investment Property?

Have you been thinking about purchasing an investment property and becoming a landlord?  Getting a mortgage loan for a non-owner occupied property (NOO) is a lot different from purchasing an owner occupied property.  Here’s a brief overview of the main differences to help you get started in the decision-making process: Down Payment: There are a few investors who … Continue reading