The Patriot Act was passed in 2001. The majority of Americans agreed it was a good idea. After all, the purpose of the legislation was to identify both foreign and domestic terrorists by tracking the movement of their financials. What many may not realize is how that has impacted the home loan process. Lenders will […]
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Bank of Manhattan is a community bank based out of Manhattan Beach. We are the home lending office in Carmel Valley and carry forward the high customer service and local community feel that community banks offer. We have an amazing team that each individually offers over 12 years of experience. I myself have over 22 […]
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The Importance of Getting Pre-Approved by an Experienced Loan Officer. Have you heard a friend or co-worker’s story about trying to buy a home and then losing the home in the middle of escrow? Do you wonder how that happens and how to protect yourself from having it happen to you? There could be numerous […]
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During the purchase of a new home you will be asked during escrow how you would like to take title to your property. In California, title may be held in sole ownership, or co-ownership. If it is the sole ownership of an individual, a common way to hold title may be as a “single man/woman”, […]
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Considering a divorce brings up many questions, including questions about how to divide assets. “Divorce is nearly always emotional and determining what to do with the marital home can be one of the most emotional issues in the divorce. The marital home is oftentimes the highest valued asset to deal with in a divorce. To […]
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Transaction Timelines: Tips for hitting your Home Financing Deadlines Closing a mortgage loan is one of the last phases of the home buying process, but one of the most important, as you cannot purchase a home without the money to back it up. Having a strong understanding of what makes up the home closing process […]
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Credit Scores: What a Lender looks at when considering your Loan Application When purchasing a home, it is important to know your credit score and how that three digit number can influence your opportunities for obtaining a home loan. Your lender looks at your credit score very carefully to decide whether or not they will […]
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Mortgage points, the upfront free a buyer can pay to lower their monthly interest rate, are very common, but often misunderstood. In this video, David Talbott, a Mortgage Advisor with Samuel Scott Financial Group, shares the basics of how Mortgage Points impact a home loan. Find out how to calculate the cost of points and […]
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In this video, Debra Roberts, a Mortgage Advisor with Samuel Scott Financial Group, explains the difference between two common types of mortgages: Fixed Rated Mortgages and Adjustable Rate Mortgages. She breaks down the pros and cons for each type of mortgage and answer the most common questions borrowers have about these two types of home […]
Continue reading …In today’s economy, it’s not uncommon for borrowers to have less than perfect credit. When the housing market crashed in 2008, many people lost their jobs and were left struggling to make ends meet. These financial hardships led to missed mortgage payments, foreclosures and sometimes even bankruptcies. But now, as the economy begins to shift, […]
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In today’s economy, coming up with enough money for a down payment and closing costs can be challenging, especially for younger and first-time home buyers. It’s not uncommon for home buyers to borrow money from family or close friends to help with the costs of purchasing a home. In this video, Christian Alvarez, a Mortgage Advisor at […]
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While the majority of borrowers use conventional financing for their home loans, sometimes non-conventional financing is a better option… and sometimes non-conventional financing is the only option. In this video, Christian Alvarez, a Mortgage Advisor with Samuel Scott Financial Group, explains the different types of specialty loans that are available for buyers with “out of the […]
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