Posts Tagged ‘#VisaliaMortgageBroker’
What Is an Assumable Mortgage?
What Is an Assumable Mortgage—with Stephen Palermo, Your Trusted Visalia Loan Officer If you’re considering purchasing a home, you may have heard the term “assumable mortgage.” In simple terms, an assumable mortgage allows a buyer to take over an existing mortgage from the seller, assuming the same interest rate, repayment period, and balance. Instead of…
Read MoreHow Student Loan Defaults reporting will impact your Credit score
—Student Loan Defaults Hurt Credit: What It Means for Visalia Homebuyers—with Stephen Palermo Credit Scores Are Dropping Fast Student loan defaults & collections have resumed. The U.S. Department of Education restarted collections on defaulted federal student loans. This change happened after a pause that began in March 2020. Now, many borrowers are seeing immediate credit…
Read MoreWhat can you use home equity loans for?
What Can You Use Home Equity Loans For? By Stephen Palermo with Gold Standard Mortgage – Your Trusted Visalia Loan Officer Home Equity loans: A Guide for Visalia Homeowners In Visalia California, homeowners have been increasingly exploring ways to leverage their home equity loan for various financial needs. As a loan officer specializing in Central…
Read MoreFederal Reserve Meeting, What To Expect From
What To Expect From Wednesday’s Federal Reserve Meeting With—Stephen Palermo with Gold Standard Mortgage, your trusted Visalia loan officer The Federal Reserve meeting is set for this Wednesday. Many expect no change to interest rates. I’m watching closely. As your trusted Visalia loan officer, I know these meetings impact Visalia mortgage rates. The Fed sets…
Read MoreWhat is a Debt Service Coverage Ratio (DSCR) Loan
What Is a DSCR Loan?—with Stephen Palermo To begin with, DSCR stands for Debt Service Coverage Ratio Loan. A DSCR loan allows borrowers to qualify based on the income the property produces—not their personal income. Offered by only a select few mortgage lenders, this non-QM (non-qualified mortgage) product breaks away from traditional lending guidelines. Instead…
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