Recent Mortgage News
Now Texas home owner can refi a home equity loan to a non home equity loan,
Before 1/1/2018, Texas home equity (or Texas 50 a (6) ) loan has a rule as once cash out, always cash out. This has been changed in year 2018. Now if you have a Texas cash out loan and would like to refinance just for rate/term purpose, loan can be changed to non-Texas-cash-out. Usually a […]
30 year loan or 15 year loan. Which is better?
Here 30-year or 15-year loans mean 30-year or 15-year fixed rate mortgage as these two are the most popular residential mortgage loan products. A very common question that I usually get from clients or friends is “which loan program should I choose, a 15-year fixed or 30-year, and why?” Here’s my opinion on that topic: […]
What’s the Cost to Originate a Loan?
According to a study made by Mortgage Bankers Association (MBA) in 2017, the cost to originating a loan was about $8,887 per loan at that time, while the number was only $5,985 in 2008. Now it’s even higher. The main reason that the cost is high is regulation has made the origination process more complex […]