Latest Articles

What is a HELOC?

HELOC stands for Home Equity Line of Credit. It is a financial product that allows homeowners to borrow money using their home’s equity as collateral. HELOCs are often used for various purposes, including: Home improvements Debt consolidation Education expenses Other major expenses They offer flexibility because you only pay interest on the amount you borrow, […]

Summer Energy Saving Tips

Here are some energy-saving solutions specifically for the summer season: Use natural ventilation: Take advantage of cooler evenings and mornings by opening windows and allowing fresh air to circulate through your home. Use fans to help with air circulation and create a cooling breeze. Set your thermostat wisely: During the summer, set your thermostat to […]

How to Prevent Wire Fraud

Wire fraud is a criminal act that involves the use of electronic communication or wire transfers to defraud someone. It typically occurs when nefarious individuals mislead others to send money electronically, such as through wire transfers. The most common example of wire fraud we are seeing in the real estate lending industry is a phishing […]

Benefits of an online application

Applying online for a mortgage is a convenient and easy way to start the process of buying a home. The E5 Home Loans online application takes only 5-10 minutes. Simply enter your contact info, income history and answer a few questions. Then upload documents and E5 can quickly review your information and see how much […]

Appraisal Conditions that Determine the value

Residential appraisal conditions are the factors that are taken into consideration when determining the value of a residential property. Appraisers use a combination of quantitative and qualitative measures to determine the worth of a property, including its location, condition, size, and amenities. Location, location, location One of the most important factors in a residential appraisal […]

Home Warranty – What’s covered

New homeowners usually get a home warranty. Often it’s purchased by the seller, their gift to you in case something breaks. If the seller wasn’t so generous, purchasing a home warranty can be a wise investment to insure against costly repairs. What a home warranty typically covers: Refrigerator HVAC System Washer Dryer Stove Hot Water […]

What is a non-QM Loan?

The “QM” in Non-QM Loan First, it helps to know what the “QM” stands for in “Non-QM Loan.”  Let’s start with what is a Qualified Mortgage (QM) loan as defined by the Consumer Financial Protection Bureau (CFPB).  The CFPB provides more protection to banks and mortgage companies for mortgage loans falling under the Ability-to-Repay/Qualified Mortgage […]

Minimum Down Payment for Buyers

When buying a home, the down payment is the initial cash contribution applied to the purchase price.  This amount is typically reflected as a percentage of the purchase price.  For example, $15,000 for a $300,000 purchase would be a down payment of 5%.  The remaining $285,000 is typically the amount financed with a home mortgage […]

A Guide to Seller Concessions

Seller concessions are growing in popularity as we move to a balanced housing market. Sellers saw buyers paying $10,000 over list price a few months ago to seeing a median price reduction last week of $10,100. What might be more surprising is only 15.9% of active listings in Phoenix, AZ had price reductions. However, 44.5% […]