Rates are flat today. With no big economic reports out today, expect more of the same. I recommend locking if you can. Today’s comparison mortgage rates with no lender fees are 4.0% on a 30 year, 3.25% on a 15 year and 3.0% on a 5/1 ARM. (click here for details)


Happy Friday!

I have a little fun today with a serious issue…skeletons in your closet when trying to get a mortgage approved. I share 10 secrets you should tell your loan officer to prevent painful underwriting issues. Check it out and share it, it’s a fun one today!

Also, it’s #FollowFriday and I highly suggest you show Chris, Ricardo, and Matthew some Twitter love.

 

 

It’s all in today’s episode:

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(Watch it on your mobile phone or email reader here)


For more information on the Swedish Skeleton House click here. It’s an interesting story.

It is essential that you are completely honest with your loan officer! Anything you “forget” to tell them could end up killing your mortgage application. Here are the top 10 skeletons I find in mortgage borrower’s closets:

1. You are getting a divorce.

2. You didn’t file this year’s tax returns.

3. You are in the middle of a lawsuit.

4. You missed a mortgage payment during the process of your refinance.

5. Your house is under repair.

6. You switched jobs or were fired.

7. You inflated the value of your house.

8. You have unreimbursed expenses.

9. You have a high debt-to-income ration because you bought a car during the mortgage transaction.

10. You have large deposits in your account that can’t be sourced.

I thought today’s video was fun and educational. If you agree, I would love to have you help bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.

Let’s change the way people shop for a mortgage…forever!

Have a great weekend!

– Mike

PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below. Daily comparison rates, calculators, and other cool features are available in the free Rates in Motion LoanApp by going to your smart phone and clicking on this link, activation code is 9203780002

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