March 28, 2019 / by Bailey & Wood / Inside Bailey & Wood, Mortgage, Mortgage Basics, Mortgage News / 0 comments
PMI is a layer of protection for lenders, but an added expense for you as a borrower. Conventional loans are the most popular type of mortgages, but they’re also the one that isn’t insured by the government. Once you’ve paid 20 percent of your home’s loan-to-value ratio, you can contact your lender about removing PMI […]
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Mortgage Monday Episode 11: Underwriting
April 22, 2019 / by Bailey & Wood / Home Buying, Inside Bailey & Wood, Mortgage, Mortgage Basics / 0 comments
Operations Manager Tawn Hensley discusses what happens when your loan gets to the underwriting stage. What you can expect and what an underwriter looks for.
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Assessment vs Appraised Value
April 20, 2019 / by Bailey & Wood / Inside Bailey & Wood, Mortgage, Mortgage Basics / 0 comments
Assessment is a valuation given normally from the county your property resides in. They use this number to determine what you should pay in property taxes. The figure they come up with doesn’t mean that what your home is worth on the open market however. You will need a market analysis from a Real Estate […]
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Mortgage Mondays Episode 9: Why Do I Need an Appraisal?
April 8, 2019 / by Bailey & Wood / Home Buying, Home Selling, Inside Bailey & Wood, Mortgage, Mortgage Basics / 0 comments
Operations Manager Tawn Hensley discusses Appriasals and how they impact the loan process. What all does the appraiser look for and what do they determine? Contact us for more info.
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What is Net Income and Why Does That Matter?
April 3, 2019 / by Bailey & Wood / Budget, Finances, Home Buying, Inside Bailey & Wood, Mortgage, Mortgage Basics, Refinance / 0 comments
Net income is equal to the income that a company has after subtracting costs and expenses from the total revenue. Net income can be distributed among holders of common stock as a dividend or held by the firm as retained earnings. So self employed borrowers this is the income number you pay taxes on and […]
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Mortgage Mondays Episode 8: Conventional Loans
April 1, 2019 / by Bailey & Wood / Home Buying, Inside Bailey & Wood, Mortgage, Mortgage Basics, Mortgage News / 0 comments
Operations Manager Tawn Hensley discusses Conventional Loans. Who qualifies, why choose this loan and much more! Contact us for more info.
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What is Private Mortgage Insurance?
March 28, 2019 / by Bailey & Wood / Inside Bailey & Wood, Mortgage, Mortgage Basics, Mortgage News / 0 comments
PMI is a layer of protection for lenders, but an added expense for you as a borrower. Conventional loans are the most popular type of mortgages, but they’re also the one that isn’t insured by the government. Once you’ve paid 20 percent of your home’s loan-to-value ratio, you can contact your lender about removing PMI […]
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Mortgage Mondays Episode 7: VA Loans
March 25, 2019 / by Bailey & Wood / Home Buying, Inside Bailey & Wood, Mortgage, Mortgage Basics, Mortgage News
Operations Manager Tawn Hensley discusses VA Loans. Who qualifies, why choose this loan and much more! Contact us for more info.
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What is Collateral?
March 21, 2019 / by Bailey & Wood / Home Buying, Home Selling, Inside Bailey & Wood, Mortgage, Mortgage Basics, Mortgage News
When obtaining a mortgage the subject property is used as collateral.
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Mortgage Mondays Episode 6: USDA Loans
March 18, 2019 / by Bailey & Wood / Home Buying, Inside Bailey & Wood, Mortgage, Mortgage Basics
Operations Manager Tawn Hensley discusses USDA Loans. Who qualifies, why choose this loan and much more! Contact us for more info.
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What Determines a Cash-Out Refinance?
March 14, 2019 / by Bailey & Wood / Finances, Mortgage, Mortgage Basics, Refinance
At Bailey & Wood we have many different types of mortgage products which will allow a client to pull cash out from the equity in a home. Whether it is to consolidate debt, home improvements or cash for another reason our consultants are standing by to help you with your mortgage needs.
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