Guides & Insights

Mortgages, explained plainly.

Straight answers for buyers and homeowners, from Vivid Mortgages, Inc., a mortgage broker that arranges loans with third-party wholesale lenders rather than selling one bank's product.

All New York Qualifying Loan Programs Investment Property Mortgage Education

New York

CEMA Refinance in New York: How a Consolidation, Extension and Modification Agreement Affects Mortgage Recording Tax

In New York, recording a mortgage triggers mortgage recording tax, and refinancing normally means recording a brand new mortgage. A CEMA is not a loan and not a loan program. It is a set of closing documents that keeps the existing lien alive so that only the new money is treated as newly recorded. Here is how the mechanic works, which properties it can apply to, what it costs, and why lender policy decides whether it is on the table.

15 min read Read →

Qualifying

Self-Employed Mortgage Options: How Underwriters Measure Your Income

A tax return is one accepted way to document self-employment income, and it is not the only one. This guide explains how conventional add-backs, bank statement, 1099, profit and loss and asset-based methods each measure income, what each one gives up, and how to tell which represents a business fairly.

12 min read Read →

Qualifying

Mortgage Denied? How to Read the Notice and What to Ask Next

A denial is one lender's decision on one file under one set of rules. Here is how to read the notice you receive, find out exactly which rule stopped the file, and work out what can and cannot be changed.

18 min read Read →

Loan Programs

Foreign National Mortgages: What Non-U.S. Borrowers Should Know Before Buying Property

Foreign national mortgage files are not just ordinary loans with a passport attached. The lender has to understand identity, visa or residency status, funds, credit, property use and repayment ability. This guide explains the questions to organize before you apply.

13 min read Read →

Investment Property

DSCR Loans: How Rental-Property Cash Flow Is Reviewed

DSCR loans are built around the rental property’s cash flow, but they are not “no review” loans. This guide explains what the ratio means, what lenders still check, and when a DSCR structure may or may not fit an investor.

13 min read Read →

Qualifying

Non-Owner-Occupied Co-Signer: What It Can and Cannot Do on a Mortgage

A co-signer can help some mortgage files, but the words co-signer, co-borrower and non-owner-occupied are often mixed together. This guide explains the differences and the limits.

12 min read Read →

New York

Buying a Two- to Four-Family Home as Your Primary Residence: Pros and Cons

Buying a small multifamily as your primary residence can combine housing and rental income, but it is not automatically easier or cheaper. This guide walks through the mortgage and real-life tradeoffs.

13 min read Read →

Loan Programs

FHA Loans: What Buyers Should Know About the Low Down Payment

FHA financing is known for a low down payment option, but the down payment is only one part of the decision. This guide explains mortgage insurance, property standards, gift funds and tradeoffs.

12 min read Read →

Loan Programs

Conventional Mortgage Loans: How They Work and When They Fit

Conventional mortgage loans are common, but not all conventional files are the same. This guide explains conforming rules, PMI, down payment choices, credit factors and when another program may fit better.

12 min read Read →

Mortgage Education

PMI Mortgage Insurance: The Myths, the Facts and What Comes After

Private mortgage insurance is often misunderstood. It can feel like wasted money, but it may also be the tool that lets a borrower buy with less cash. This guide separates myth from fact.

13 min read Read →