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David Mully

175 Articles

David Mully is president and CEO of Lender Insider, a mortgage consulting firm. With 26 years in the mortgage industry, he has worked as both a mortgage loan officer and in the business-to-business sector of the industry. He is the former author of the weekly "Mortgage Search" column for Observer and Eccentric Newspapers. You can read his blog at http://www.lenderinsider.com/blog.

Refinance a Jumbo to a Conventional Mortgage - 2021 Loan Rate Savings
Jumbo Loans

Refinance a Jumbo to a Conventional Mortgage - 2021 Loan Rate Savings

Good news for Jumbo mortgage holders! If you have a current mortgage balance under $548,000 most likely you have a higher rate than necessary. The increase in 2021 for conforming home loan limits are increasing to $548,250 for a single-family unit in most parts of the U.S. This increase is up from the previous limit of $510,400 in 2020. Conforming loan limits in 2021 can go as high as $822,375 in Alaska and Hawaii in 2021. So for example, if you have a current Jumbo mortgage with a balance of say $530,000 you can now potentially qualify for a better conforming loan interest rate.

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 9 months ago | 5 minutes read time
Refinancing after a bankruptcy
Mortgage

Refinancing after a bankruptcy

For a person with a mortgage looking to refinance after a bankruptcy, there's good news and bad news. The good news is that you can refinance your mortgage in as little as two years after filing for bankruptcy. The bad news is that two years seems like an eternity in our fast-paced world - and some loans require at least three years. But if you don't mind a little perseverance, discipline, and a two-year wait, here's how you can make it happen.

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 16 years ago | 2 minutes read time
An Overview of COFI Loans
Mortgage

An Overview of COFI Loans

COFI (pronounced coffee) stands for Cost of Funds Index. Such an index is used with certain types of adjustable-rate mortgages (ARMs) to provide a basis for how the interest rate on those loans is periodically changed to reflect current market conditions.

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 7 years ago | 3 minutes read time