The Dodd Frank – Consumer Protection Act was adopted in July 2010 and created the CFPB (Consumer Finance Protection Bureau). Check out their site at www.consumerfinance.gov Starting in January 2014, the CFPB (Consumer Finance Protection Bureau) says mortgage lenders must implement new rules regarding “Qualified Mortgages) and the “Ability to Repay”. These rules are meant to protect […]
There are a few things you should know, from a financing point of view, before you buy a home. You should know that you can qualify for a mortgage. If you are in doubt then you need to seek the answer by contacting a mortgage loan officer who can often quickly and easily determine if you […]
Just attended a great presentation by Secondwind Environmental Services about water quality and the real estate transaction. Here are a few of the things I learned: There are primary and secondary standards. Maximum Contaminant Levels are set for both. The primary standards are health related. Secondary standards have more to do with aesthetics and functionality […]
Thinking of an RD loan? 11 communities will no longer be eligible for RD loans as of 1/15/14. Originally this was scheduled to occur on Oct 1st but thanks to the government shut down the time frame was extended! In order to purchase in an eligible area that will be ineligible in 2014, you […]
Apply on line with Bookend LendingMortgage Company and we will obtain your 3 credit reports in a merged file, send you a consumer copy and review it with you. Everyone is entitled to a free credit report from each of the 3 bureaus each year! The one and only official site is www.annualcreditreport.com Read more about credit […]
Re/Max Connection, Bookend LendingMortgage and Horizon Settlement Services combine their many years of experience in the local market to bring a 2-hour seminar to first time buyers. Topics include a description of the home buying process, the requirements needed to qualify for a mortgage (you may be surprised by how affordable home ownership is […]
People who wish to purchase a distressed property and use a rehab loan to fix it up after closing have several options including FHA 203K and FHA 203Ks programs. Rural Housing (also known as RD, USDA or Farmers’ Home Loans) does have provisions for a minor amount of rehab money (under $10K) or ,when combined with […]
If you are thinking of purchasing a home or refinancing, this article provides some basic mortgage facts that will help the homebuyer understand more about their options: TERMS – the term of a mortgage is the number of years to repay the loan 30 Year Fixed Mortgage Rates This loan program is fixed for 30 […]