Mortgage Articles and Advice

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How Much House Can You Afford?

   Debt-to-income Ratios

   Your Monthly Income - the way Lenders Figure it

   Your Maximum Monthly Mortgage Payment

   The Rest is Easy - Sort of

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Your Down Payment Affects Everything Else

   Analyzing Your Savings - the First Step

   Mortgage Program Choices

   Shopping for Interest Rates

   Writing Your Offer

   Conclusion - Look at Your Savings First

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Documenting Your Assets & Verifying Your Down Payment

   You can't just "come up" with the money

   Checking, Savings, & Money Market Accounts

   Stocks, Bonds, Mutual Funds, etc.

   Gifts from Family Member

   401K or Retirement Accounts

   Selling Personal Property

   Help from Employers

   Savings Bonds

   Borrowing to Come up with a Down Payment

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Where Does Mortgage Money Come From?

   The Olden Days

   How it works now

   Mortgage Backed Securities

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Different Types of Lenders
   Mortgage Bankers
   Mortgage Brokers
   Wholesale Lenders
   Portfolio Lenders
   Direct Lenders
   Correspondents
   Banks
   Savings & Loans
   Credit Unions

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Advantages of Different Types of  Lenders
   What kind of Lender is Best?
   Portfolio Lenders
   Banks and Savings & Loans
   Mortgage Bankers
   Mortgage Brokers
   Wholesale Lenders

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When Realtors or Builders Recommend a Lender

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Things You Need When You Apply for a Home Loan
   "Alternate" Documention versus Full Traditional Documentation
   The Actual List of things you need to get a quick loan approval

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Closing Costs When Buying or Refinancing a Home
   Introduction
   Lender Associated Costs - the "normal" ones
   Lender Associated Costs - the "other" ones
   Items Paid in Advance
   Impounds or Reserves
   Costs not Associated with the Lender
   Refinancing Associated Costs
   Asking the Seller to Pay Closing Costs - Advice and Rules

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Mortgage Interest Rates - How it Works
   A Loan Officer's Rate Sheet
   Pricing the Loan
   Quoting Rates to You
   Locking in Your Rate
   Shopping for Rates
   Getting Reliable Quotes

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The Cheryl Thorsen Group
Coldwell Banker Residential Brokerage
Scottsdale Executive Office Park, 7975 N. Hayden Rd., Suite C100
Scottsdale AZ 85258

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E-Mail: cherthor@cox.net

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