September 2013

How Interest Rates work

How Interest Rates Work

Many people are surprised when they learn how mortgage interest rates are determined. Most people understand the fundamental principle: the lowest interest rates cost more to obtain and the higher interest rates cost less. The graph above shows how you can obtain rates where there are “no real costs” (often absorbed by the lender offering […] Read more

Approved

Qualifying / Pre-Qualifying for Mortgages

  At Black Diamond Mortgage Corporation, we receive a lot of requests for loans. Many times people wonder how the decision is made to approve or deny their loan application. While there are thousands of pages of guidelines used in determining the quality of a borrower’s loan application, there are 3 categories of important criteria […] Read more