Hands down, the number one pitfall to the home loan process revolves around providing proper asset documentation and the actual source of the funds during the loan closing process. There’s nothing worse in a real estate purchase than making it all…
Many borrowers go through the mortgage process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek. Even though you may have put your trust in your real estate and mortgage team, it helps…
Continue reading the "Talk the Talk – Know the Mortgage Lingo at Closing" »
Congratulations on finding a house! You now have only a few days from when you signed the purchase and sales agreement to have a home inspection. Chances are your real estate agent made the offer contingent upon a satisfactorily home inspection…
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Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted. According to Wikipedia: Earnest…
Buying a home versus renting is a big decision that takes careful consideration. While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on…
FHA Mortgage Insurance Premium is an important part of every FHA loan. There are two types of Mortgage Insurance Premiums associated with FHA loans: 1. Up Front Mortgage Insurance Premium (UFMIP) – financed into the total loan amount at the…
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Getting a home loan or mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, constant guideline changes and federal regulations the mortgage industry faces today. Luckily, we are here to help and…
Continue reading the "First-Time Home Buyer Do’s and Don’ts" »
When shopping for a hazard insurance policy, something called “bundling” can actually save you quite a bit of money that most people aren’t aware of. Many of the big insurance companies price their insurance rates to attract a particular segment…
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Facts About Identity Theft: It’s estimated that there were 10 million victims of identity theft in 2008, and 1 in every 10 U.S. consumers have reported having their identity stolen. The U.S. Department of Justice reported in 2005 that 1.6…
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While the actual credit score has a big impact on a loan approval, it’s not the only component of the credit scenario that underwriters consider for a mortgage approval. Since loan programs, individual lenders and mortgage insurance companies all have…
Continue reading the "Is There A Rule-of-Thumb Regarding The Number Of Credit Lines To Have Open?" »
