Loan Programs

The Mortgage Process: Part 4, Processing and Underwriting

Pre-approval? Check. Offer on the perfect house accepted? Check. Mortgage application process completed? Check. Ok, so what is next? Well, this step is really for us rather than for you. Up next in the mortgage process is Processing and Underwriting. Read on to learn more about these next steps. Read More

The Mortgage Process: Part 3, Application

You have found “the house” and your offer has been accepted… Really exciting stuff! But what’s next? When you initially completed your application, upon review and approval, your lender either provided a pre-qualification or a pre-approval letter. The terms are similar, but not the same. A pre-qualification is a pretty vague application including very basic pieces of information. While this information may have allowed your lender to give you the initial OK to search for homes... If you chose this route, now that you have found the house you are going to purchase, it is time to revisit that application and add more specific documents and information to keep your loan file moving along in the process. Read More

The Mortgage Process: Part 2, The Search

Now that you’ve taken your first step toward homeownership and have met with a Mortgage Consultant to better understand how much you are approved to spend on a home, it’s time to move onto the more exciting step two… SHOPPING! In this article we’ll cover how to get ready to shop for a home, beginning the home search process and some tips and tricks we have learned over the years supporting our clients. Read More

The Mortgage Process: Part 1, Where to Begin

Obtaining a mortgage can be the largest financial transaction many people will participate in throughout their entire lives. With such a big investment on the line, it is to be expected that there are multiple steps to achieve that ultimate goal of homeownership. To many the home financing process can appear daunting or scary but with the right preparation and team alongside you, the experience can be smooth and efficient. Read More

3 Things Millennials Should Know Going Into 2021

If you’re like many millennials, this pandemic has made you reevaluate your current living situation and wonder if you are ready for a home of your own. It’s been an eye-opening year for sure. Despite being the group affected most by the economic downturn, millennials remain motivated to make a move. 2020 was a record-setting year when it comes to mortgage originations, especially among Millennials. In fact, in September, the Ellie Mae Millennial Tracker reported that 61% of all purchase loans this past July were made by homebuyers between the ages of 21 and 40. That’s a huge number, and an even bigger indicator of what’s next for the housing market. Here’s some things Millennials should know going into 2021: Read More

2021 Housing Forecast

What can we say about 2020 that hasn’t already been said on the late night shows, twitter and in every meme on the internet? To say the world is looking forward to 2021 is the ultimate understatement. While 2020 was a solid year in the housing market, the same cannot be said of all industries. At Cambria Mortgage we feel blessed that we were able to help our clients throughout this year and into the future. Now, on to 2021! Here’s a look at what we anticipate for the coming year: Read More