Our new KeyExpress process lets your buyers go directly to underwriting, cutting days off the traditional loan process and strengthening their position in this competitive market when they’re ready to make an offer. With KeyExpress, clients who provide complete documentation right away will have their loan fast-tracked directly to an underwriter who can approve the […]
The ins and outs of buying a second home
Vacation home financing has become a hot topic at Key Mortgage. We have licensed loan officers in popular weekend getaways states like Florida, Wisconsin, Michigan, and Indiana. Who hasn’t dreamed of a second home in Lake Geneva, New Buffalo, Michigan City, or Naples? Financing a vacation property differs from a primary residence so we figured […]
Can Changing Jobs Prevent You From Getting a Mortgage? Esther Phillips weighs in
https://www.realtor.com/advice/finance/can-changing-jobs-prevent-you-from-getting-a-mortgage/ […]
The ins and outs of a FICO® Score
FICO® Scores are used by virtually all lenders to make decisions about credit approvals, terms, and interest rates. There are five categories of credit data that make up this score and all are weighted differently: Payment history (35%) Amounts owed (30%) Length of credit history (15%) New credit (10%) Credit mix (10%) Let’s say you […]
Appraisal waiver vs. appraisal wavier
Appraisal Waiver is a term frequently discussed in Baird & Warner office meetings. The conversations surrounding this term vary because the term means something different in finance than it does in sales. We’re here to break down the differences for you. Appraisal Waiver in Sales With home prices rising, buyer’s agents are getting more creative […]
Rates are rising – but now is still the time to buy
The feds raised the overnight lending rate by a 0.5% a few weeks ago — the largest jump since May 2020. Buyers are panicked about what rising rates mean for them and real estate agents are concerned about the market and what to tell their clients. Is now still a good time to buy? Yes! […]
The “ins & outs” of Jumbo Financing
Did you know that jumbo loan rates have not increased as dramatically as conforming rates, meaning higher priced homes may be more affordable? Any loan over $647,200 on a single-family home is considered a “jumbo” loan and Key Mortgage offers highly competitive rates on these specific loan types. Downpayment requirements for jumbo loans can vary […]
Buyers (and you) should beware of the “Rate and Switch!”
Last week as I’m listening to the radio (yes, I’m old fashioned and don’t stream), I heard an ad for a low mortgage rate that captured my attention. “Looking to buy or refinance your home? Rates are still historically low and you can lock in your loan at 3.25%, call Rocket Mortgage today!” By this […]
Financing a self-employed borrower
Do you have a buyer that’s self-employed and worried about financing? No worries, Key Mortgage is here to help! We have loan options for eligible self-employed borrowers that accept personal or business bank statements to calculate income without requiring tax returns. Available for the purchase of a home or refinance an existing property: Primary, second […]
Tips and tricks to prove a home value to an appraiser
Home prices are rising. With more buyers than sellers, there is often disparity between what a buyer is willing to pay versus the property’s appraised value. This can impact the buyer’s financing options and leave the seller with less than what the property is worth. We spoke with our friends at Valuecentric to get insight […]
