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Posted by Peter Karami on July 15, 2017 at 1:20 AM Comments comments (0)

We all know that searching for and viewing potential homes is the fun part of the home-buying process. The not-so-fun part? The mortgage.

But if you don't pay attention to the details, your mortgage can end up dragging down the enjoyment of your new home and cause some major regrets. Here are a few mistakes to avoid to ensure that you love your mortgage terms as much as your hew home.

Don't find your home first: Shopping around for the best mortgage rate should be the first step i...

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Business Loan or a Home Loan for a business?

Posted by Peter Karami on January 4, 2017 at 1:05 AM Comments comments (4)

If you've been following my advertising posts on social media, you probably already know that I have listed a Nursing home business for sale in Washington. Al though the business is a profitable business with appx 20% ROI ( Return on Investment), I found it very challenging to find a pre-qualified buyer for several reasons: I have received many calls from prospect buyers and in some occasions seller has agreed to allow prospect buyers view interior of the property. However, the first and fore...

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Fannie No longer Requiring Revolving Debt to be Closed when paying off at Close!

Posted by Peter Karami on May 29, 2015 at 8:35 PM Comments comments (0)
Fannie No longer Requiring Revolving Debt to be Closed when paying off at Close! FW: Announcement 2015-14 Fannie Mae Updates May 26, 2015 When a revolving account is being paid off at or prior to closing, the current policy requires lenders to document that the revolving account has also been closed in order to exclude the payment from the debt-to-income (DTI) ratio. The Selling Guide has been updated to remove the requirement that the revolving account be closed. Going forward, revolving accou... Read Full Post »

Reverse Mortgage is a good REAL ESTATE solution for Seniors!

Posted by Peter Karami on November 2, 2014 at 12:30 AM Comments comments (0)

Reverse Mortgage is a great opportunity for many seniors over 62 years of age and older. A borrower (Mortgagor) goes to a bank and pledges the property to the lender (bank) and receives money. 

If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert pa...

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What's the difference between getting a home mortgage from banks than from mortgage brokers?

Posted by Peter Karami on April 21, 2014 at 11:55 AM Comments comments (0)

There are several differences between obtaining a home loan from banks than mortgage brokers. Mortgage brokers are "middle-man" for banks. They run credit and pre-qualify borrower/s, then they submit the loan package to banks that provide best and lowest interest rates. They know every bank enforces their own guidelines for loan approval. Meaning, there is a possibility that a loan will be approved with one bank and deny with another bank. Which in this case, submitting a loan application to ...

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