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Brian Shatto

NMLS ID 266210

817-514-0110 brian@vipmtg.com

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Blog Image: Why ARM Loans Don’t Make Much Sense Right Now

Why ARM Loans Don’t Make Much Sense Right Now

If you are looking to buy a home soon or to refinance your current mortgage, you know that interest rates are very low.  In recent weeks, the average rate on a 30-year fixed-rate mortgage is below 3%. In fact, rates have been setting record lows for a while. And yet, you may have seen adjustable-rate mortgages advertised with interest rates below those stunning rates, maybe around 2.25%. While that lower rate can seem very enticing, here’s why ARM loans are not the best option in today’s economic climate. How ARMs Work Adjustable-rate mortgages have ultra-low intere...

January 20th, 2021 | Interest Rates, Why ARM Loans Don’t Make Much Sense Right Now

Blog Image: How Much of My Income Should Go to My Mortgage?

How Much of My Income Should Go to My Mortgage?

Back in the U.S. housing boom in the early 2000s, mortgage money flowed freely, with many borrowers being qualified for more loan than they could actually afford. When the housing bubble burst and the entire economy took a hit, those same home buyers often had a hard time keeping up with their home loan payments and ended up in foreclosure.  Today, in the midst of the COVID-19 pandemic, millions of people have lost jobs or had work hours reduced. While lending regulations have been tightened since the Great Recession, it is still possible for home buyers to be approved for more money t...

December 9th, 2020 | Interest Rates, Preapproval, Mortgage Advice, How Much of My Income Should Go to My Mortgage?

Blog Image: Why This Fall Might Be the Best Time to Buy a House

Why This Fall Might Be the Best Time to Buy a House

The U.S. housing market has been in overdrive for the past several months, as buyers play catch up after the coronavirus pandemic shut down most home-shopping in the spring. Existing home sales in June and July both grew by more than 20% while inventory fell almost 33% in July. As we turn the corner into fall, you may be wondering if the market is too hot to buy. While it's impossible to predict exactly what the housing scene will look like, there are still several reasons why this 2020 autumn might be the best time to buy a home. Competition Could Decrease Fall is traditionally the ...

September 30th, 2020 | Interest Rates, Purchasing a Home, Why This Fall Might Be the Best Time to Buy a House

Blog Image: How the New Fed Policy Will Affect Your Mortgage Rates

How the New Fed Policy Will Affect Your Mortgage Rates

The U.S. Federal Reserve recently announced its new approach to monetary policy, setting the markets abuzz with rumors. Will mortgage interest rates remain low? Will they jump? Here’s what the Fed’s policy means for mortgage loans. Fed Policy: More Job Focus, Less Inflation Concern Historically, the Fed has had two main goals. The first has been to encourage strong employment rates while the second has been to keep the national inflation rate around 2%. On average, the Fed has been fairly successful in its aims. Of course, there have been exceptions, like the recession of 200...

September 16th, 2020 | Interest Rates, Fixed Rate Mortgages, How the New Fed Policy Will Affect Your Mortgage Rates

Blog Image: How are Mortgage Interests Rate Determined?

How are Mortgage Interests Rate Determined?

Getting the very lowest interest rate is usually top priority for most home loan seekers but mortgage rates can vary widely from day to day and year to year. They are influenced by international and domestic market changes as well as an individual borrower’s financial details and loan packages. In order to get the best rate, it is essential to understand all the factors that determine mortgage interest rates. The Federal Reserve and 10-year Treasury Bond Yield The general range for mortgage rates at any particular time is heavily influenced by the world and U.S. financial markets...

August 5th, 2020 | Interest Rates, How are Mortgage Interests Rate Determined?

Blog Image: What Happens If I Lose My Job During the Mortgage Process?

What Happens If I Lose My Job During the Mortgage Process?

You are midway through the process of closing on a new home or a refinance mortgage. Then you lose your job. In today’s coronavirus crisis climate, plenty of home buyers and homeowners have faced this situation. Can the home loan go through or is it curtains for your new mortgage? While becoming unemployed during the loan underwriting process is much less-than-ideal, there may be some rays of hope. Temporary or Permanent Job Loss Sometimes income loss is due to furloughs. If you have a commitment from your employer as to when you will return to work or your income will resume, you ...

July 29th, 2020 | Interest Rates, What Happens If I Lose My Job During the Mortgage Process?

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