What are the most important words you need to know if you’re thinking of building a house? Lets start with these three: turn key, end loan and construction loanA short-term loan that funds home building in stages, typically converted into a permanent mortgage once the home is complete. More. Turn key: this is when a […]
Mortgage Info Blog
Top 4 Reasons People Refinance
Many people refinance their mortgages for different reasons depending on where they are in life. We have taken a look at the top four reasons that people decide refinancing is right for them. Here are the top reasons to do so and how it can help you financially: Get a lower payment. If you can […]
When does my mortgage insurance go away?
When/how to remove private mortgage insurance (PMI) from a loan… To remove private mortgage insurance (PMI) that you pay on your mortgage loan, you must be up to date with your monthly payments. These rules apply to mortgages closed on or after July 29, 1999. Federal law generally provides two ways for you to remove PMI […]
5 ways to improve your mortgage options!
Your credit score will influence your mortgage options as well as the interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More rate you will get. If you’re thinking of buying a home in the future, don’t take chances! These steps can help […]
Fannie Mae making home financing more av...
Fannie Mae instituted new rules surrounding student loans earlier this year which make a significant difference in what people who have income based repayment plans and graduated payment plans can qualify for. The old guideline was, if the student loan was an income based or graduated payment, the lender would consider the payment to be […]
Tax Reform may make the Homebuyer Tax Cr...
Tax reform for homeowners. One of the benefits of owning a home as a primary residence is the ability to write off the taxes and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More paid which lowers your […]
What is Mortgage Insurance?
You’re thinking of buying a house and a lot of terms are being thrown around and your lender assumes you know what they all mean. Well one of the terms that is often confusing is “Mortgage Insurance” which is often referred to as “PMI” (private mortgage insurance). In the lender’s world, Mortgage Insurance is abbreviated […]
Title Insurance
Title InsuranceTitle Insurance Title insuranceTitle Insurance Title insurance protects against certain problems with the legal ownership of a property. Before closing, a title search is performed to look for problems such as liens, unpaid taxes, ownership disputes, or errors in the public record. But even a... More protects against certain problems with the legal ownership of a property. Before closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More, a title search is performed to look for problems such as liens, unpaid taxes, ownership disputes, or errors in the public record. But even a… More is purchased at closingClosing is the meeting — typically in person […]
Can the seller pay all my closing costs?
Many first time buyers (and move up buyers too) negotiate for the seller to pay some or all of their closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More costsClosing costs are the fees and charges due at closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More beyond the down payment itself — the collection of costs that pay for all the work, insurance, and government processes required to originate a […]
Thank you for referring me to a great RE...
I am so thankful for your referral to a REALTOR who made our dreams come true by pricing our home correctly and marketing it effectively! Jen