It’s been incredible to hear the overwhelmingly positive feedback we’ve received since we started offering mortgage loans, particularly since rolling out the mobile mortgage experience, which gives you real rates in under two minutes right from your phone.
Our mortgage is unique in that it was built with the needs of early stage professionals in mind: low down payment (as little as 10%), high maximum balance (up to $5 million), flexible debt-to-income limits and a simple, online application process, most of which can be done on your phone. Judging by the demand we’re seeing, a lot of people have been waiting for something like this to come along.
Because our members tend to be Millennials and Gen X’ers who are often dealing with student loans, one question we’ve heard repeatedly is whether it’s best to completely pay off education debt before taking on a mortgage loan. While the answer depends on several factors, in general if you have enough for the down payment and you want to buy a home, in my view you are better off buying now rather than waiting.
One of the biggest student loan myths out there is that borrowers can’t consolidate federal and private student loans into one loan. It’s understandable how this misconception came to exist, since this wasn’t an option for many years. But now that the choice is available, it’s important for borrowers to understand whether it’s right for them – especially when there’s the potential for significant cost savings on the line.
While it’s not possible to use the federal Direct loan consolidation program to combine your federal and private student loans, it is possible to consolidate federal and private student loans with some private lenders. Through this process, you actually apply for a new loan (which is used to pay off your original loans) and you’re given a new interest rate, which means that in addition to consolidating you are also refinancing student loans.
This time of year marks a very busy season for the housing market. The weather is improving, inventory has increased, and buyers and sellers alike have emerged from hibernation to put their much-anticipated homebuying and selling plans in motion.
It’s also a good time for aspiring homeowners to take stock. Is this the year you’ll finally go for it, or will you continue to delay buying a home yet once again? While there are many legitimate reasons to wait, there are also some common “barriers” that may be more perception than reality – particularly when it comes to myths about mortgage loans.
Are some of these mortgage myths holding you back? If so, you may want to take a second look – homeownership could be closer than it seems.
In all my years working with graduate school candidates in the recruiting and career counseling fields, one of my favorite challenges has been helping them switch careers. Lucky for me, this shift towards a new career path is a phenomenon that’s on the rise. While I wouldn’t recommend changing careers on a repeated basis, I do believe that one or two thoughtful, well-planned transitions can actually be good for your career.
The caveat is that changing careers is typically a very challenging thing to do. I often see candidates fresh out of graduate school or MBA programs who expect doors to open for them in their new chosen field – and it can be extremely discouraging when that isn’t the case. That’s why I always recommend that, in addition to putting a solid strategy in place, candidates let go of certain expectations and keep the career path endgame in mind. Here are a few examples of how they can do just that:
Where in the U.S. are homes selling the fastest? Look to the San Francisco Bay Area, and you’ll find your answer. According to a recent report, 8 of the 10 fastest-moving real estate markets in the U.S. are located in California. The top three are in the Bay Area.
The report came from Ralph McLaughlin, a housing economist at Trulia, who did an analysis of the fastest-moving real estate markets in the United States. For those of us who live in California, this list may not be a surprise.