Entries by Andrew Norman

When Can I Refinance?

What is a cash-out refinance? If you have equity in your home — you owe less than the home is worth — you may be able to refinance and get some of the equity out in cash. Homeowners can use the cash for any reason, but a common use is for debt consolidation, or home […]

How Do I Get A Rate Quote?

How do I get a rate quote? You can obtain a rate quote in minutes at AmeriSave.com. On AmeriSave.com, go to the “Get Rates” box on the homepage, enter your information, and get rate quotes specific to the criteria you entered. Please be sure that you have entered your information correctly, as our rates are […]

What Income Documentation Do I Need?

We require full documentation for conventional loans (including all income and assets). We do allow for limited documentation on FHA and VA streamlines. Acceptable types of income documents W-2 Generally, the income of W-2 borrowers is verified by obtaining copies of the last two pay stubs and copies of the last two years W-2 statements. […]

Why Do I Need An Appraisal?

Why do I need to have an appraisal done? The appraisal is done to determine the value of the property you are purchasing or refinancing and to ensure the property type is eligible for financing. Can I hire my own appraiser? Due to the Appraisal Independence Requirements (AIR) issued by Fannie Mae, an appraisal must […]

How To Compare Offers From Multiple Lenders

How To Compare Offers From Multiple Lenders First, make sure you are comparing current mortgage rates for the same type of mortgage. Mortgage rates and closing costs can change significantly from one day to another, so if you are comparing offers from multiple lenders it should be done on the same day. For example, if […]

Is Refinancing Right For You?

In today’s housing market, many homeowners may see advantages in refinancing their homes. Individuals impacted financially by the mortgage crisis in the early to mid-millennia have taken advantage of low rates and have refinanced, in some instances, multiple times. So, you may wonder, is refinancing right for you? Well, there are a number of things […]

Buying A Home With Student Loan Debt

The class of 2017 graduated college with an average of $37,172 in student loan debt; that’s up 6% from the previous year. In the coming months and years these students are going to find jobs, start families, and begin looking for their starter homes, with many of them still carrying a handsome amount of student […]

5 Things That Can Drive Up Your Mortgage Rate

When applying for a mortgage loan, every borrower hopes to receive the best rate possible. However, many may not be certain what factors actually determine the rate they receive. Check out our list below of the top 5 things that could be driving your mortgage rates through the roof! 1) Credit Score This is a given […]

Getting The Most Out Of Your 401(K)

No matter your age, it’s always a good time to start, or continue, educating yourself about your retirement plan and how you can make the most of what’s offered to you. Many individuals have heard of 401(k)s, but they may not be entirely aware of how they work, or how they can benefit from them. […]