Mortgage 101 Archives - Page 2 of 3 - Chris Jordan Mortgage Team

Is this condo FHA / VA approved?

Last updated: September 12, 2026 CJMT

If you are buying a condominium with FHA financing or a VA loan, the condo project itself may also need to meet FHA or VA requirements. The good news is that finding out whether a condo may qualify is usually something we can help determine…

Homeowners comparing mortgage recast and refinance options

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Mortgage Recast vs. Refinance: What’s the Difference?

Last updated: September 1, 2026 CJMT

A mortgage recast can be a useful way to lower your monthly mortgage payment after making a substantial payment toward your loan balance. But before requesting a recast, it can also make sense to compare it with another option: refinancing. If mortgage rates have dropped…

Homeowners reviewing finances to cancel private mortgage insurance PMI

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How to Cancel Mortgage Insurance (PMI)

Last updated: September 2, 2026 CJMT

If you are currently paying private mortgage insurance (PMI), you may be wondering when you can have it removed from your monthly mortgage payment. For many conventional mortgages, federal law and investor guidelines provide several ways PMI may be cancelled or automatically terminated. The rules…

Real estate investment property financing

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Can You Buy a Home or Transfer a Mortgaged Property Into an LLC?

Last updated: September 3, 2026 CJMT

Real estate investors and homeowners sometimes ask whether they can purchase a property in the name of a limited liability company (LLC), refinance a property already owned by an LLC, or transfer a property into an LLC after obtaining a mortgage. The answer depends heavily…

Couple reviewing finances before buying a home

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Avoid Mortgage Sabotage: What NOT to Do Before Buying a Home

Last updated: September 1, 2026 CJMT

Some of the biggest mortgage problems happen before a homebuyer ever applies for a loan. A change that seems perfectly reasonable at the time—buying a new car, changing jobs, becoming self-employed or moving money between accounts—can sometimes make it harder to qualify for a mortgage.…

Homebuyer reviewing documents at a real estate closing

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Closing Costs, Escrows and Prepaid Expenses Explained

Last updated: September 1, 2026 CJMT

When buying or refinancing a home, borrowers often hear the terms closing costs, escrows and prepaid expenses used together. Although all three can affect the amount of money needed at settlement, they are not the same thing. Understanding the difference can make your Loan Estimate…

Home appraiser evaluating a residential property

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How Do Home Appraisers Determine a Property’s Value?

Last updated: September 3, 2026 CJMT

One of the most common questions homebuyers and homeowners ask is: How does an appraiser actually determine what a home is worth? An appraisal is much more than simply looking at a few recent home sales and averaging the prices. The appraiser analyzes the property…

Homebuyers discussing a competitive home offer with a real estate professional

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How a Strong Mortgage Pre-Approval Can Help Your Offer Stand Out

Last updated: September 12, 2026 CJMT

A strong mortgage pre-approval can do more than show a seller that you may qualify for financing. In a competitive home purchase, the lender standing behind that pre-approval can also influence how confident a listing agent and seller feel about your offer. That is why…

Homebuyers reviewing finances and mortgage credit

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Mortgage Credit Do’s and Don’ts for Homebuyers

Last updated: September 1, 2026 CJMT

Your credit profile can have a significant impact on your ability to qualify for a mortgage, as well as the interest rate and loan options available to you. The good news is that there are practical steps you can take to protect and potentially improve…

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WHICH MORTGAGE IS RIGHT FOR YOU?

Last updated: September 1, 2026 CJMT

Homebuyers have more mortgage options than they sometimes realize. Choosing the right loan is not simply about finding the lowest advertised interest rate. The best mortgage depends on your credit, down payment, income, property, loan amount, future plans and overall financial goals. During the pre-approval…

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