Spencer Llewellyn

Spencer Llewellyn founded Loans101 in 2008 and is a regular contributor to several financial publishing entities. Spencer's background as a loan officer originating mortgages across America shaped a comprehensive knowledge of the loan origination process including mortgage regulations, real estate transactions, personal credit reporting, housing market trends and monetary policy. Spencer has been cited in various publications including U.S. News and World Report, CBS News, Yahoo Finance and the Yahoo home page.

Spencer attended college at Embry-Riddle Aeronautical University and is also an FAA-certified Airline Transport Pilot and Flight Instructor.

Do No-Closing Cost Refinance Loans Really Exist?

Closing Costs

Refinance loans with “no closing costs” may sound like a really great deal at first.  I mean, who wouldn’t want a deal with no costs? The truth is, when it comes to refinancing your mortgage, the ‘no closing cost’ deal may become far less appealing when you learn how those fees are replaced with a higher mortgage rate and payment. Read More

What Every Home Buyer Needs to Know About Flood Insurance

Flood Insurance Facts

For most Americans, a home is one of their most prized possessions. It’s a symbol of hard work, determination and success. Incidentally, it also the most expensive thing many Americans will ever, own.  So what happens if one day your home is damaged or completely destroyed as the result of flooding? Read More

Homeowner Flood Insurance Affordability Act Signed Into Law

Flood Insurance

After much concern about the direction of flood insurance rates and their impact on the real estate market, President Obama signed the Homeowner Flood Insurance Affordability Act into law on March 21st 2014. This law added amendments to the 2012 Biggert Waters Law. Read More

Cash-Out Refinance: Convert Home Equity Into Cash

Cash-Out Refinance Loan

If you need cash for a good reason and have built up equity in your home, you might consider tapping into that treasure chest of savings that’s hiding under the roof over your head. Cash-out refinancing can allow you to take out a new mortgage for more than your present mortgage balance, pay off your existing mortgage and obtain cash for the difference. Read More

2014: Year of the Qualified Mortgage

Qualified Mortgage

January of 2014 saw the Consumer Financial Protection Bureau (CFPB for short) introduce a host new rules and guidelines for real estate mortgages. For the most part, these ‘new’ rules and guidelines have already been around for awhile. The financial industry suffered a crushing blow from the 2008 Financial Crisis and has been extensively regulated every since. Read More

Adjustable-Rate Mortgage: ARM yourself with knowledge

Adjustable Rate Mortgage

Once thought of as the agile, exuberant cheerleader of home loans, the adjustable rate mortgage (ARM) accounted for as many as one in four mortgages in 2006. A few years later, when ARMs became branded one of the risky, greed-filled indulgences of the financial crisis, their number fell dramatically. Yet ARMs have seen a recent uptick in popularity, but with a much clearer view of what they really are and who can benefit from their flexibility. Read More

Home Equity Loans: Tapping your home’s value

Home Equity Loans

If you would like to get a fixed amount of cash for some of the equity in your house, a home equity loan is an option worth considering. A home equity loan, sometimes known as a second mortgage, is a loan you take in addition your original mortgage that provides cash for some of the equity you have built up. Home equity loans are usually issued for a fixed amount for a fixed term at a fixed interest rate. Read More

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