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.

HARP Loan Program: Refinance help for underwater homes

HARP Refinance

If you are underwater on your home (owe more than it’s worth) yet have stayed current on your mortgage payments, HARP is here to help you. HARP stands for the Home Affordable Refinance Program and is designed for you to refinance and obtain more affordable payments and interest rates than you have on your original mortgage.   Read More

FHA Streamline Refinance: Fast track to lower payments

FHA Streamline Refinance

If you want to reduce the payment on your current FHA mortgage, even if your home is now worth less than you owe on it, the FHA Streamline Refinance could be just right for you.  Remarkably, the FHA Streamline Refinance program requires no credit check, no employment or income verification and in most cases no appraisal of the property. Read More

VA Loans: 3 Well Deserved Benefits For Veterans

VA Loans

If you are active or retired military, serious benefits may be available to you through the Department of Veterans Affairs home loan program. VA loans are designed to help active military personnel, veterans and certain spouses of veterans obtain very favorable mortgages, and they arguably offer the best mortgage benefits available today. Read More

USDA Loans: Buy a home with no down payment.

USDA Loans

In today’s housing market, those wanting to buy a home with no down payment have limited options. The 2008 financial crisis led to the rapid demise of subprime lending and a harsh tightening of mortgage credit. Fortunately, USDA RD loans are still running strong offering 100% financing with low mortgage rates for home purchases.

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FHA eases wait period after Bankruptcy and Foreclosure

FHA Loan Back to Work Program

The Federal Housing Administration recently announced that it will soon be easier for borrowers with bankruptcy, foreclosure or a short sale in their past to qualify for an FHA loan. On August 15th, HUD released a mortgagee letter outlining new requirements for applicants who have experienced an “economic event” in their past that they have since recovered from. Read More

Mortgage PreQualification…Before the shopping begins

Mortgage PreQualification

Before a prospective home buyer sets out to find that perfect home, it’s important for them to know how much they can afford and what other financing limitations may be. That’s when obtaining a Mortgage Prequalification is most beneficial.  In fact, for many home buyers a Mortgage Prequalification or “PreQual” is the first step into the finance process.
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