Misc Archives - Chris Jordan Mortgage Team

Should I refinance?

January 20, 2020 CJMT No Comments

When considering refinancing your mortgage, be sure that your decision is based on more than just the lower rate. Sure, rate plays a part, but you also need to see what the actual savings is vs. the cost of the refinance. Before you move forward…

Budgeting Credit Tips Expert Advise Home Buyer Strategy Home Buyer Tips Misc Mortgage Planning Uncategorized

Credit counseling & debt management

September 14, 2018 CJMT No Comments

If you are struggling to manage your credit and your finances, you could greatly benefit from speaking with a credit and debt management counselor. We recommend InCharge Debt Solutions. InCharge Debt Solutions is a 501(c)(3) nonprofit organization offering confidential and professional credit counseling, debt management services,…

Expert Advise Home Buyer Strategy Home Buyer Tips Misc Mortgage Advice Mortgage Planning Self employed

Thinking of becoming self-employed? A few things to consider first…

February 11, 2018 CJMT No Comments

Being self-employed can be great, but before you quit your salary job, you should be absolutely sure that you will not need a mortgage in the next 2-3 years. Lenders have very strict rules with regards to documenting income for a self-employed person. In order…

Expert Advise Home Buyer Tips Misc Mortgage 101 Mortgage Advice

Termite Inspections

August 2, 2017 CJMT No Comments

Termite inspections are typically not a mortgage requirement. VA loans, however, do require a termite inspection with the exception of condos that are not on the ground floor. For all other loan types, a termite report would not be mandatory unless the appraiser were to…

Budgeting Home Buyer Strategy Home Buyer Tips Misc Mortgage 101 Mortgage Advice Mortgage Planning Purchase

Budgeting for a mortgage payment

July 31, 2017 CJMT No Comments

When determining how much you should spend on a mortgage payment, there are several factors you have to consider first. You first need to determine what your take home pay is. Lenders look at your gross income, but after Uncle Sam takes his cut, you…

Down Payment Assistance Home Buyer Tips Misc Mortgage 101 Mortgage Planning Purchase

Avoid your home sale contingency

July 13, 2017 CJMT No Comments

If you have ever written a contract with a home sale contingency, you already know that it puts you, as a buyer, at a serious disadvantage over your competition. If your home has plenty of equity and you know it will sell, but the timing…

D.C. Tax Abatement Home Buyer Tips Misc Mortgage 101 Mortgage Planning

DC Tax Abatement Program

June 22, 2017 CJMT No Comments

FHA Mortgage Home Buyer Tips Misc Mortgage 101 VA Mortgage

Is this condo FHA / VA approved?

June 13, 2017 CJMT No Comments

For anyone purchasing a condo with FHA or VA financing, the first step is to look and see if that condo building is on the FHA or VA approved list. This is very simple process and anyone can do it. First, you will need the…

Home Buyer Tips Misc Mortgage 101 Mortgage Planning

Recast your mortgage vs. refinancing – the basics

May 16, 2017 CJMT No Comments

What is recasting? It's actually really simple, but it's not advertised very often, so most people have never even heard of it. Recasting your mortgage is simply making a large payment toward your principal balance, paying a one time processing fee and then having your mortgage…

Home Buyer Tips Misc Mortgage 101

Transferring Your Property into an LLC?

May 8, 2017 CJMT No Comments

Many clients over the years have asked about purchasing a home in the name of an LLC, or transferring their property into an LLC after they own it. This idea usually stems from them hearing from friends, relatives or advisers that putting their property into…

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