Lee H. Schaffer at Luminate Bank - NMLS # 228814

09/22/2026

Ever look at your mortgage payment and think, “Wait... where is all of that money going?”

Your monthly payment can include much more than principal and interest. Depending on your loan, there may also be property taxes, homeowners insurance, mortgage insurance, and escrow payments in the mix.

And if your payment suddenly changes, your interest rate may not be the reason.

A few minutes of decoding your mortgage statement could make the whole thing feel a lot less mysterious.

Your monthly payment may include principal, interest, property taxes, homeowners insurance, and mortgage insurance, depending on how your payments are structured.

09/17/2026

You got pre-approved. The condo did, too, right?

Here’s the part of condo shopping that can catch you by surprise: getting pre-approved doesn’t automatically mean every condo you choose will qualify for your mortgage.

We may need to review the condo project, including the HOA, insurance, reserves, repairs, and potential assessments.

Let’s talk before you make an offer. A little homework upfront can help you avoid some big surprises later.

09/15/2026

Love your mortgage rate? You might not have to give it up to give your home an upgrade.

If you’ve been putting off a bigger renovation because refinancing your low-rate first mortgage doesn’t make sense, a second-lien renovation financing option can let you keep your existing mortgage in place while accessing funds for eligible improvements.

And depending on the project, financing may consider your home’s projected value after the renovations are complete.

New kitchen? Addition? ADU? There might be more ways to make the numbers work than you think.

You want to make improvements, but you don't want to refinance. With a second-lien renovation option, you can potentially access additional financing.

09/11/2026

For those celebrating, we hope you and your loved ones have a happy Rosh Hashanah.

Wishing you a year filled with joy, peace, and many moments to celebrate. Shana Tova.

09/10/2026

You got pre-approved. Time to celebrate? Absolutely. Is it the final finish line? Not quite.

Your pre-approval is an important first step, while final approval comes after your lender takes a deeper look at your finances, documentation, credit, and the property.

Keep things steady, keep me in the loop, and let’s keep your mortgage moving toward the closing table.

09/08/2026

These days, there’s a little more to condo financing than finding a place you love and getting the keys.

Your lender may need to look at the condo project itself, including the HOA’s finances, insurance, reserves, repairs, and more.
And with condo review changes taking effect in 2026, plus the transition to UAD 3.6 appraisal reporting, there are some things worth knowing before you make an offer.

If a condo is on your wishlist, let’s talk about your plans. I’m happy to help you figure out what comes next!

When you buy a condo, your lender may look at more than just you and the unit you want to buy. They may also need to review the condominium project itself.

09/07/2026

Happy Labor Day! Here’s to the workers, builders, dreamers, and doers who make a difference every day. We hope you enjoy a well-earned day to relax, recharge, and spend time with the people who matter most.

Our offices are closed today in observance of the holiday and will reopen tomorrow during regular hours.

09/03/2026

First-time homebuyers: here’s your permission to ask your loan officer all the questions.

Even the “this might be a dumb question…” questions.

There aren’t any dumb questions when you’re making one of the biggest financial decisions of your life. In fact, some of the best conversations happen when we get beyond the basic numbers and start talking about what could change, what you might be overlooking and where you want to be a few years from now.

A good mortgage conversation should leave you feeling more informed, not more overwhelmed.

09/01/2026

Don't let closing day become a scammer's opportunity.

When you’re getting close to closing, your inbox is probably full of messages from your lender, real estate agent, title company and attorney. That’s exactly what scammers are counting on.

Wire fraud scams often look surprisingly legitimate, which is why it’s so important to verify wiring instructions and be cautious about unexpected changes or requests for personal information.

A few extra seconds of verification could save you from a very expensive mistake.

Scammers often impersonate lenders, title companies, attorneys, or real estate agents in an attempt to redirect closing funds or collect personal information.

08/27/2026

Business owners know the reality: deductions and business expenses can make taxable income look very different from the cash flow behind the business.

That doesn’t automatically mean homeownership is off the table.
There may be mortgage options that take a different approach to documenting income, depending on your situation.

If you’re self-employed and thinking about buying, send me a message. Let’s look at the full picture before you count yourself out.