Home prices have risen across the country in comparison to just a mere few years ago. Despite that, here is how you may still be able to obtain a seller credit for closing costs… A credit for closing costs involves the seller of the property you’re interested in buying receiving less net proceeds in exchange…
It is no secret the cost of housing is expensive. Rising rents, and a strong real estate market, make it harder for first-time buyers to get a piece of the American dream. Buying a home means getting yourself credit worthy in these four areas: Credit Debt Income Assets If you do not know where you…
Have ever heard about mortgage rates in the media only to then call a mortgage company and receive conflicting information? Here is why the media’s reporting on rates should be taken with a grain of salt… Know this-real time information is critical. When you hear about mortgage rates moving in the news, by the time…
The challenges consumers have faced in recent years in procuring a mortgage may be coming to an end. Here are four major changes making your mortgage easier… Landlord History-until recently, in order to qualify for conventional loan financing you needed to show a history of being a landlord for the most recent last 24 months.…
If you have ever bought a home or plan to in the near future, real estate taxes and hazard insurance are necessary carrying costs you incur as a homeowner. There are two sides to every coin when electing to have these expenses rolled in your mortgage payment. Here are the facts on mortgage escrow accounts……
Everyone wants to know they’re getting a fair and reasonable mortgage offer. The federal government supports the annual percentage rate disclosure as the benchmark barometer of loan cost. Here are the facts… Quick APR Tidbits The annual percentage rate is a disclosure only seen in the origination of new credit or in advertisements of various…
All too often, the water cooler talk circulates and the stories about mortgage companies dropping the ball become ingrained with would be borrowers and the real estate community alike. How to stop changes before they happen… Rates & Loan Fees Change Fees changing and rising, sting the most. Nothing is more frustrating for a consumer…
This can be accomplished in a variety of ways, but the most common way is to take the monthly savings you generate by refinancing your home and divide it into the capital idea closing costs required to complete the refinance. If you can breakeven in 2 to 3 years, this in most cases is normal…