This is a topic near and dear to every homeowner. Many real estate websites offer a free online home valuation offering you a glimpse of what your home might be worth. Understand this, each of these websites, use their own proprietary algorithm to give you an idea of what your house might be worth. This…
Buying or refinancing a home? An FHA loan much like a USDA loan, has two forms of mortgage insurance. There is an upfront mortgage insurance premium, UMFIP for short, which is based upon 1.75% of the base loan amount ( difference between the down payment amount or appraised value relative to equity) which is then…
Are you one of the millions of homeowners who short sold a house in the last few years? If yes, you’ll now be waiting a little while longer for your second chance. On August 16, 2014 new rules take effect surrounding a previous short sale now requiring you to wait an additional two years before…
Applying for a mortgage? Do your fees and rates appear to be a little higher than what you see advertised? If yes, there could be several key factors driving up the cost of your mortgage that you may not know about. These additional mortgage pricing characteristics can make your mortgage cost more. Don’t be swayed …
Just recently have a job change or receive a promotion? Despite what you might hear, it is still very possible to qualify for a mortgage to buy of refinance a home using your new income. The lending atmosphere is ripe with misconceptions about job gaps, job changes and occupational changes within the course of an…
Stuck paying for a house that’s no longer yours? Buying your spouse out of a property can be dicey especially, if both parties are not in agreement with one another on the debt and equity objectives. Following are ways, to separate and pay off an ex-spouse when getting a mortgage. Divorced Or Separated? If you…
Demand for real estate is prevalent is many markets across the country, one of the challenges that inevitably follows suit, is a particularly competitive real estate climate. All cash offers, offers going for thousands over list price, and a continual squeezing between affordability and prices in a given area, only adds to the frustrations many…
Buying a primary home? The 20% down rule is yesterday’s news. More down payment options exist, including both government and private sector alternatives, allowing more flexible choices. Don’t be fooled however, as most of the programs that allow for less than 20% down include PMI, an added premium built into the mortgage payment. If you…