Michael Mardini

Loan Officer

NMLS: 1320926

Recent Articles

Jul
21
2021
Prequalified And Pre-approved: What's the Difference?
If you're thinking about buying a home, then you've probably heard the terms "pre-approval" and "prequalification." While often used interchangeably, there's a slight difference between the two. This blog will go over what it means to be prequalified versus pre-approved...
Jul
14
2021
Learn About Deducting Mortgage Interest From Your Taxes
One of the perks of a mortgage is the "mortgage interest deduction." Read on to learn what a mortgage deduction is, how much you can reduce from your taxable income, and how you can take advantage of this tax incentive. About Mortgage Interest Deduction The mortgage interest deduction is...
Jul
08
2021
FHA or VA Loan: Which is Better For Veterans?
Veterans have benefits awarded exclusively to them for their dedication and service, including disability and education compensation, career training, health care, and even home loans. However, with federally-funded home loans, there is more than one option. When it comes down to...
Jun
30
2021
Exploring The Pros and Cons Of An Interest-Only Mortgage Loan
An interest-only mortgage starts with payments that only pay down the mortgage interest. Generally, this makes your monthly payments lower than a typical mortgage payment. This option is attractive for those who cannot afford high mortgage payments. However, it has its drawbacks if...
Jun
23
2021
New Credit And How It Affects Your Credit Score
Your credit score matters in home loan approval and determining the rate you ultimately receive. Essentially, the higher the score, the lower the interest rate. That's why you must consider any action that might affect your score, such taking out new credit. Even a small loan can have a...
Jun
16
2021
All About Liens and Home Loans
A lien is a property right someone else has on your property and gives the lienholder legal power to take your property as compensation if you default on your payments or break the contract terms. A mortgage is the most common type of property lien. If you don't pay back the home loan, the...
Jun
09
2021
Is Buying A Home With Bad Credit A Smart Choice?
Have less-than-optimal credit? That doesn't necessarily mean you have to put your dreams of homeownership on pause. There are several factors that mortgage lenders consider when you apply for a loan, and there are even options available specifically for those with poor credit. Read on...
Jun
03
2021
Is Buying A Home Without Real Estate Agent A Good Idea?
Whether you're a first-time home buyer or an experienced homeowner, you may be wondering if it's truly necessary to work with a real estate agent when buying a property. Here's what you need to know about working with an agent and how to go about purchasing a home without one should you...
May
26
2021
How Does A Home Equity Line Of Credit (HELOC) Work?
A home equity line of credit (HELOC) is a type of mortgage loan that acts similar to a credit card, except the line of available credit is tied to your home's equity. So instead of using funds advanced to you by a creditor, you use the cash from the value of your home. HELOC Benefits Lower...
May
19
2021
Does Getting Preapproved For A Home Loan Matter?
If you're looking into real estate and home shopping recently, you've probably realized that the availability of houses for sale is limited, and the competition is fierce. Of course, this varies by neighborhood, but on average, we've found that there's only about 3.5 months' worth of new...
May
12
2021
What Does A Title Company Do?
A title company's role is to verify that the current owner can legally transfer ownership to the home buyer --essentially, making sure the seller has the right to sell the property. In this blog, we'll go over how a title company determines legal ownership and the process of transferring...
May
05
2021
What Is A Second Mortgage and Its Benefits?
A second mortgage (sometimes just called a "second") is when you take out a home loan against a property that already has a mortgage on it. When you get a second mortgage, you use your home as collateral to gain access to cash locked up in the value of your home.  You can use this money to...
Apr
28
2021
Get the Facts About Escrow Shortages
An escrow account is for making payments toward your real estate fees like taxes and insurance. It helps make these fees more manageable through monthly installments rather than paying a large lump sum when these bills are due. There’s typically a minimum balance that must be...
Apr
21
2021
The Basics of Buying A Foreclosed Home
Curious about buying a foreclosed home? Here's what you need to know to get started.  What's A Foreclosure? When a homeowner can't keep up with their mortgage payments, they often have no other choice but to give up the property to the lender. These properties are called...
Apr
14
2021
Your Guide to Refinancing Your Condo
A condo refi is similar to refinancing any other home. The lender will look at your income, assets, and credit to ascertain your qualification. Plus, the condo will also be appraised to determine the property value. However, since there are more variables when refinancing a condo, such as...
Apr
07
2021
Home Inspection 101: A Homebuyer’s Guide
A home inspection alerts you to any immediate repair concerns plus gives you an idea of what it may cost to maintain the home in good condition.  Let's take a closer look at the home inspection process so you know what to expect, and what the inspection does and does not include...
Apr
01
2021
How To Remove Mortgage Insurance From Your Home Loan
You don't need to put a minimum of 20% down on a new home. That's the upside. The downside is that you'll need to pay mortgage insurance if your down payment is less than 20%. Read this post to learn the factors that determine if and when you can get rid of your mortgage insurance.  What...
Mar
25
2021
5 Best Renovations to Increase Your Home's Value (Plus 3 Worst)
Renovations make your home more enjoyable. Plus, if you do them right, they may even increase your home's value. This comes in handy if you plan on selling your home in the future. But watch out! While some remodeling projects add value to your home, others do little to increase it and may even...
Mar
17
2021
Secrets to Winning A Bidding War In Real Estate
While the housing market remains vibrant for buying and selling, the supply continues to be an issue in these past years. Low supply happens when there's an abundance of buyers but not enough houses for all of them. Many call it a "seller's market," which often results in a bidding war as...
Mar
10
2021
New FHA Loan Limits for 2021
New FHA loan limits were recently announced, which is good news for home buyers and those looking to refinance their current loans. If you're new to loan limits and not sure why this is exciting news, here is a quick primer: When you apply for an FHA loan, there's a limit on how much you can...

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