What do Adjustable Rate Mortgages tie the rate to?
Adjustable Rate Mortgages (ARMs) tie the interest rate to an external benchmark or index. The rate changes periodically based on fluctuations in this index. Commonly used indices for ARMs include: Secured Overnight Financing Rate (SOFR): A relatively new index that has replaced the LIBOR in many loans. Constant Maturity Treasury (CMT): Based on U.S. Treasury…
Read MoreDebt to Income Ratio aka DTI Explained
What Is Debt-to-Income (DTI) Ratio in Mortgage Lending? If you’re planning to buy a home or refinance your mortgage, one of the most important numbers you’ll hear about is your Debt-to-Income Ratio, or DTI. It’s a key part of mortgage lending and understanding it can help you prepare and potentially qualify for better loan options. Definition of…
Read MoreUnderstanding the NAR Settlement: What Homebuyers Need to Know
“How the NAR Settlement Empowers Homebuyers: Key Changes to Know Before August 17th” The recent settlement between the National Association of Realtors® (NAR) and various plaintiffs is set to introduce significant changes to the real estate industry. These changes, aimed at increasing transparency and fairness, will officially take effect on August 17, 2024. As a…
Read MoreNavigating the August 17th NAR Changes: What Realtors® Need to Know
The National Association of Realtors® (NAR) is set to implement significant changes on August 17, 2024, as part of a settlement agreement designed to address claims related to broker commissions. These changes, aimed at increasing transparency and fairness in real estate transactions, will affect MLS policies and practices across the country. Key Changes Effective August…
Read MoreNavigating Debt: Expert Advice Homeowners
In America today, consumer debt has reached an all-time high, leaving many homeowners struggling to make ends meet. The good news is, there are several options available to help consolidate and manage this debt. As a trusted mortgage professional with E Mortgage Capital, Amir Salah is dedicated to helping homeowners in California find a way…
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Welcome to Amir Salah – Senior Mortgage Loan Consultant! Please check back for future articles and information.
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