A Non-Qualified Mortgage (Non-QM) loan is a type of mortgage that does not meet the standards set by the Consumer Financial Protection Bureau (CFPB) for a qualified mortgage (QM). These standards were put in place to ensure that borrowers are not given loans they cannot afford and to protect them from predatory lending practices. The […]
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A jumbo loan, also known as a non-conforming loan, is a type of mortgage that exceeds the conforming loan limits set by government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac. These limits are determined by the Federal Housing Finance Agency (FHFA) and are based on median home prices in a specific area. In general,
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A USDA mortgage is a type of home loan that is guaranteed by the United States Department of Agriculture (USDA). These loans are designed to make homeownership more accessible to people who live in rural or suburban areas, and who may not qualify for a conventional mortgage. The USDA sets guidelines for the types of
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Purchasing a home as a self-employed individual can be a unique and sometimes challenging process. There are several key factors to consider when preparing to buy a home as a self-employed individual, and it is important to be aware of these factors in order to increase your chances of success. In this essay, we will
Top 10 Things You Need if You’re Self Employed and Trying to Buy a Home Read More »
Deciding when to lock in your mortgage rate can be a challenging decision for many borrowers. A mortgage rate lock is a commitment from a lender to provide a specific interest rate and loan terms to a borrower for a specified period of time, typically 30 or 60 days. By locking in your mortgage rate,
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Interest rate and APR, or annual percentage rate, are two important terms that are commonly used in the world of finance and credit. While they are often used interchangeably, they actually refer to two different things. Understanding the difference between interest rate and APR can be important for consumers who are considering taking out a
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A mortgage rate is the interest rate that a borrower must pay on a home loan. The mortgage rate is determined by a variety of factors, including the terms of the loan, the borrower’s credit score and financial history, and the current market conditions. When a borrower applies for a mortgage, the lender will typically
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The Federal Reserve, or the “Fed,” is the central bank of the United States. It is responsible for implementing monetary policy, which is the process of managing the money supply in the economy to achieve certain goals. One of the key tools that the Fed uses to implement monetary policy is the interest rate, which
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Finding the right location for a new home is an important decision that can have a major impact on your quality of life. There are a few key things to consider when trying to find the right location for your new home. First and foremost, it’s important to think about your budget. The cost of
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If inflation starts to come down, it is likely that interest rates will also decrease. Inflation and interest rates are closely related, and changes in one often lead to changes in the other. Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is
If Inflation Comes Back Down, What Will Happen with Interest Rates? Read More »
Mortgage Broker
Jonathan Torres
1522 Penman Rd.
Jacksonville Beach,
FL 32250 NMLS#1994043
Phone: 518-368-0090
Serving: FL,TX,TN,ND,NC,MT,MI MA,GA,CT,AL
Barrett Financial
275 E Rivulon Blvd, Suite 200, Gilbert, AZ 85297
NMLS#181106
Phone: 480-459-4500
© 2022 Jonathan Torres | All rights reserved. Jonathan Torres | NMLS #1994043 | Promise Mortgage powered by Barrett Financial Group, L.L.C. | NMLS #181106 | 275 E Rivulon Blvd, Suite 200, Gilbert, AZ 85297 | AL 22977 | CT ML-181106 | FL MLD1880 | GA 181106 | MA MC181106 & MC181106 | MI fl0022342 | MN MN-MO-181106 | NC B-203722 | ND MB103863 | TN 204577 | TX view complaint policy at www.barrettfinancial.com/texas-complaint | Equal Housing Opportunity | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106