Timing the market for the best possible opportunity to lock a mortgage rate on a new loan is certainly a challenge, even for professionals. While there are several generic interest rate trend indicators online, the difference between what’s advertised and…
Continue reading the "Top Five Market Factors That Influence How Mortgage Rates Move" »
Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just…
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" »
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much. And in times of turmoil when property values are declining, home sellers and even listing agents quite often question and pick…
The difference between APR and the actual note rate is very confusing, especially for First-Time Home Buyers who haven’t been through the entire closing process before. When shopping for a new mortgage loan, you may notice an Annual Percentage Rate…
Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate…
FHA Mortgage Insurance Premium (MIP) is an important part of FHA Insured loan. Mortgage insurance is insurance that protects lenders against any losses that may result from a consumer defaulting on their FHA-insured home loan. FHA home loans require two…
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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…
Continue reading the "What You Need To Know About The Home Inspection Process" »
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed…
Continue reading the "What Do Appraisers Look For When Determining A Property’s Value?" »
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…
