How To Get Home

Understanding your mortgage loan choice is very important. Picking the program that gives you the lowest payment without giving any thought to the program details is a risky move. If you are going with an ARM, you need to understand how that loan can change, how much it can change, and when it will start […]

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In the late 80’s and early 90’s, lenders were working on programs to charge more for higher risk loans and less for lower risk loans. As a result of the evolution of credit scores and automated underwriting, more lenders began to adopt the concept of risk-based pricing and use it to increase loan production. In […]

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With all of the recent problems in the subprime market, there will be more attention paid to one of the best home loan programs out there - FHA. In my opinion, the FHA home loan program is ideal for first time home buyers or borrowers with a less than perfect credit.
The Federal Housing Administration […]

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How much cash are you going to need at closing? What account are you going to pull these funds from? After you have met with your Mortgage Planner and you are trying to decide how to structure your offer to the seller, consider the option of having the seller contribute towards closing/prepaids.
If the industry is […]

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Countrywide Financial is the nation’s largest mortgage lender. As of Friday, Countrywide was telling brokers to stop offering the option of no-money down.
“Please get in any deals over 95 LTV (loan-to-value) today!” Countrywide said late on Friday in an urgent e-mail to brokers. “Countrywide BC will no longer be offering any 100 LTV […]

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Risk is the term used to describe the potential negative impact to something of value that might occur based on some future event. The 30 year fixed-rate mortgage has very little risk. You know with 100% certainty, that your principle and interest will remain constant for the next 360 months. Some borrowers who plan to […]

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The day you close on your new home does not need to be full of chaos or surprises. You need to understand very early on in the home loan process how much money it is going to take from you to close the deal. The funds required to close is disclosed to the buyer from […]

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Hey Eddie, should you pay any principle on your mortgage? There correct answer is not the same for everyone. For most Americans, the principle reduction of their mortgage is the only forced form of savings they have. Paying towards principle seems like a good idea and watching the mortgage balance decrease makes people happy. The […]

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