findwell Blog

A home purchase can be a difficult process, and often negotiations on price or property inspection are difficult. However, the most difficult aspect of a home purchase inevitably seems to be securing your home loan. Lending guidelines have tightened considerably in the housing downturn, resulting in more documentation requirements, longer underwriting timelines and lengthier closing [...]

Mortgage pricing is complex, particularly for the average home buyer who only deals with it once every 5-7 years. One of the most complex fees when obtaining a mortgage is something called Yield Spread Premium (YSP), which is easily missed or misunderstood by a home buyer. Put simply, YSP is the amount of money that [...]

We get a lot of mortgage-related questions from our home buyers, and often those questions are best answered by a mortgage expert. Today’s post is a guest post from Rhonda Porter, a Mortgage Originator who has helped a number of findwell clients with their home loan needs. She also writes one of our favorite local [...]

Our typical recommendation when buying a home is to allow ~30 days from contract acceptance to closing, but new regulations in the mortgage industry may lengthen the time needed to obtain a mortgage, according to some of our lenders. In today’s online world, 30 or more days sounds like a long time to complete a [...]

I received a peculiar piece of junk mail today. At first glance it appeared to be legitimate. It appeared to come from the Loss Mitigation Department at National City Bank. At one point, I had a mortgage with National City Bank, so I was intrigued enough to open it. When I opened it, it instructed [...]

Ron Lieber of the New York Times recently published an article comparing the services of a mortgage broker and a bank when securing a new mortgage for your home. His conclusion? Banks are super-busy, and you may have delays and heartache when trying to reach your loan processor during your application process. Mortgage brokers may [...]

Curious about what caused the current subprime mortgage crisis? It is a fairly complex and global chain of participants that brought us to where we are today. A friend of mine turned me on to this radio broadcast from Chicago Public Radio that tries to unwind and tell the story in an easy to understand [...]