Barb Patterson - Mortgage Specialist - NMLS #1589106

Barb Patterson - Mortgage Specialist - NMLS #1589106 Leading Mortgage Lender 🏦💰🏡
with solutions for residential and commercial buyers. Ease Mortgage | NMLS #2273319
Sr. Equal Housing Lender.

Loan Officer | CDLP | NMLS #1589106
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One spouse keeps the house. The other takes half the equity. On paper, it's even. Ten years later it usually isn't. And...
09/10/2026

One spouse keeps the house. The other takes half the equity. On paper, it's even. Ten years later it usually isn't. And in some cases, the agreement can't be carried out at all.

This month's issue of Divorce Housing Insights looks at both halves of that problem: why an equal split of today's equity rarely stays equal, and what happens when a settlement assumes a refinance the retaining spouse can't qualify for. The case study walks through an agreement requiring a $450,000 refinance against roughly $291,000 of actual borrowing capacity.

That gap is findable at intake. It is very expensive to find after the decree.

If you have a case where one party wants to keep the marital home, I'm glad to run the numbers with you before anything is signed.

Read the full article here: https://www.divorcelendingassociation.com/library/the-real-cost-of-keeping-the-house-in-divorce.cfm

09/08/2026

The lowest advertised mortgage rate isn’t automatically the least expensive loan.

A very low rate may come with:

• Discount points paid upfront
• Higher lender fees
• A shorter lock period
• Specific credit, down payment or occupancy requirements
• Loan terms that don’t fit the borrower’s plans

Paying points to reduce the rate can make sense—especially if the borrower expects to keep the loan long enough to recover the upfront cost. But if the home may be sold or the loan refinanced before reaching that break-even point, the lower rate could cost more than it saves.

When comparing options, look beyond the rate. Compare the loan program, monthly payment, closing costs, APR and total cost over the period you realistically expect to keep the loan.

The best loan isn’t necessarily the one with the smallest number in the advertisement. It’s the one whose overall structure fits your finances and your plans.

09/03/2026

One thing mortgage lending has taught me:

A complicated loan isn’t necessarily a bad loan.

Self-employed income, an unusual property, a non-warrantable condo or a divorce-related refinance may not fit neatly into the first loan program considered.

That doesn’t automatically mean the borrower can’t qualify. It means the file needs to be understood before a solution can be recommended.

Sometimes the answer is better documentation. Sometimes it’s a different loan program. Sometimes the proposed plan needs to change.

And occasionally, the honest answer is that the financing simply won’t work yet.

The important part is knowing the difference—and finding out early enough to do something about it.

Complicated doesn’t always mean impossible. It usually means we need to ask better questions.

09/03/2026

One of the most preventable mortgage mistakes happens after the buyer is already preapproved:

Making a financial change without checking with the lender first.

That could mean:

• Financing a vehicle
• Opening a credit card to buy furniture
• Changing jobs or reducing work hours
• Moving money between accounts without keeping documentation
• Making a large deposit that can’t easily be sourced
• Co-signing a loan for someone else

A preapproval is based on a specific picture of the borrower’s income, debts, credit and available funds. If that picture changes, the loan approval can change too.

That doesn’t mean buyers need to put their entire financial lives on hold. It means one quick conversation before making a change can prevent a much bigger problem before closing.

When in doubt, ask first. It’s a remarkably effective mortgage strategy.

09/01/2026

One of the biggest surprises for self-employed borrowers is that strong business cash flow doesn’t always translate into strong qualifying income for a mortgage.

Why?

Because lenders generally begin with the income shown on the borrower’s tax returns—not simply the money moving through the business bank account.

Legitimate business deductions can reduce taxable income, which is helpful at tax time. But those same deductions may also reduce the income available for mortgage qualification.

Some expenses may be added back under certain guidelines, while others cannot. And depending on the borrower’s circumstances, an alternative program—such as a bank-statement loan—may provide another way to document income.

The important part is reviewing the numbers before shopping for a home or writing an offer. A quick look at gross revenue rarely tells the entire story.

Self-employed borrowers aren’t necessarily harder to finance. Their income just needs to be analyzed differently.

08/29/2026

Honest question: What part of getting a mortgage feels the most confusing?

Is it:
• Knowing how much you can comfortably afford?
• Understanding interest rates and closing costs?
• Figuring out the down payment?
• Knowing which documents you’ll need?
• Understanding all the different loan options?
• Something else entirely?

There are no wrong answers—and if you have the question, plenty of other people probably do too.

Tell me in the comments. Your answers may become the topics of some future posts.

08/25/2026

A preapproval should be more than a letter with a dollar amount on it.

Before I issue one, I want to understand more than whether the borrower technically qualifies. I also look at:

• The complete monthly payment—not just principal and interest
• Available funds for the down payment, closing costs and reserves
• Which loan program fits the borrower’s circumstances
• Potential issues that could surface during underwriting
• Whether the payment is comfortable, not merely approvable

Two buyers with the same income and credit score may need completely different loan strategies.

A strong preapproval helps the buyer shop with confidence, gives the real estate agent better information and reduces the chance of an unpleasant surprise after the offer is accepted.

The letter may be one page. The work behind it shouldn’t be.

08/22/2026

When someone asks, “What will my mortgage payment be?” the honest answer is: it depends on what we’re including.

The principal and interest payment is only part of the monthly housing expense. Depending on the property and loan, there may also be:

• Property taxes
• Homeowners insurance
• Mortgage insurance
• HOA or condo association dues
• Flood insurance, when required

Some of these may be included in the mortgage payment, while others—such as association dues—are usually paid separately. But they all affect what the home actually costs each month.

That’s why I don’t like giving buyers a quick payment estimate based only on the purchase price and interest rate. A payment that looks comfortable online can feel very different once the complete housing expense is calculated.

The right question isn’t just, “What is the mortgage payment?” It’s, “What will this home actually cost me each month?”

When should a Certified Divorce Lending Professional become involved in a divorce case?Earlier than most people think.Qu...
08/21/2026

When should a Certified Divorce Lending Professional become involved in a divorce case?

Earlier than most people think.

Questions involving the marital home can affect qualifying income, credit, equity distribution, refinancing and the ability of either spouse to obtain financing later.

I’m sharing this checklist for family-law attorneys and mediators. If even one item applies, a mortgage review before the settlement agreement is finalized may prevent an expensive surprise later.

The goal isn’t to influence who keeps the house. It’s to determine whether the proposed mortgage plan can actually work.

08/19/2026

A buyer can be fully qualified for a mortgage—and still run into a financing problem because of the condo development.

That happened on a recent transaction. The condo was no longer eligible for standard Fannie Mae or Freddie Mac financing.

Instead of letting that derail the purchase, I was able to move the buyer into a non-warrantable condo program and keep the closing on schedule.

Condo financing involves two approvals: the buyer and the condo project itself. If the project doesn’t meet conventional guidelines, it doesn’t necessarily mean the purchase is over. It may just require a different loan strategy.

That’s why it helps to identify condo issues early and work with someone who knows where to pivot when Plan A disappears.

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