GoldCoast Mortgage Service, Inc.
We’ve counted 17 different reasons why someone would refinance their home. Lowering the rate is only one of those reasons, and that reason, in itself, is not always in your best interest, regardless of the rate. Let’s look at a few potential reasons NOT to refinance to lower your rate. “I can save $50 a […]
When is the correct time to Refinance my Mortgage? Our clients often ask us if there is a “rule of thumb for refinancing my mortgage?” A mortgage has two primary components: the Interest Rate (cost of money) and the Terms (amortization, aka length of repayment). Related to the decision to refinance are the Loan Costs […]
1% Listing Fee Explained I enjoy a good industry disruption. It challenges complacency. A disruption can bring about savings and efficiency to consumers. It encourages competition and watch how quickly everyone else steps up their game! There are dozens of industries craving disruption including ours (working on it!), title insurance, and real estate sales to […]
Pros and Cons of an Adjustable Rate Mortgage (ARM) A mortgage that has a Fixed Rate comes in 10, 15, 20, 25, and 30-year standard terms. Adjustable rate mortgages come in plenty of forms; well over 100 varieties. Many varieties were not designed with the consumer in mind, mostly they are an investment product with […]
Mortgage Bridge Loan Explained A Bridge Loan is a second position mortgage on your outbound (former) primary residence. It is designed to extract equity from the departure residence to be used as a down-payment on the destination (future) primary residence. How do I get a Bridge Loan? In an ideal world you will never need […]
Frequently Asked Mortgage Questions
Read This First I scan lease prices for pickup trucks regularly. Because my family owns more bicycles than I can count and I still get sucked into scavenging for free firewood from time-to-time, a pickup truck is really appealing to me. I hear wildly varying numbers though on cost. From $200 a month to lease […]
Press Button, Get Mortgage Let’s process Rocket Mortgages’ (A Quicken / Intuit company) “Press Button, Get Mortgage” one-third of a billion-dollar advertising campaign. We’re concerned about the message it’s spreading and impact on consumers. Is it really that easy? The program does eliminate a lot of customer communication which may imply it’s easier (we, however, […]
Getting PreQualified for a Mortgage Our future clients are single people, couples or families. We have surfed the mortgage industry up (and down) and enjoy sharing our lessons for the benefit of our clients, and even many that will never become our clients. We are a Mortgage Broker – this means you would become a […]