When you shop around for the best home loan for your financial needs, you will likely come across what is known as a private lender, as opposed to a government or conventional lender. But is a private lender right for you and what is it anyway?
What is a Government Sponsored Enterprise?
As a loan officer and a consumer, it’s important to know about the secondary mortgage market and the corporations that are involved. These publicly-traded corporations are called government sponsored enterprises.
Who Determines Mortgage Interest Rates?
As a home buyer, you are probably already are aware of what determines your mortgage interest rates. Mortgage interest rates are determined mostly on the secondary market, where mortgages are bought and sold. But besides that, mortgage interest rates are also set by market forces, including government monetary policy, which are beyond your mortgage lender’s […]
Understanding the Mortgage Production Line
As a loan officer, you must know that there are three primary parts of the mortgage industry. Each mortgage that a borrower applies for goes through a process of buying and selling in the mortgage “production line” before it gets to them. This process helps determine the mortgage’s mortgage and interest rates. That way, borrowers […]
Secondary Market Basics for Mortgages in KC
When searching for different types of mortgages in KC, you will likely come across the term “secondary mortgage market.” For many homebuyers, secondary mortgages are a foreign concept. Luckily, it is easy to understand secondary mortgages in KC once you know the basics of the primary mortgage market. The Primary Mortgage Market Loan Process In […]
