FHA Mortgage Insurance Is Going Up

FHA will be raising their mortgage insurance rates sometime in 2013.  For loans with the minimum down payment of 3.5%, the annual mortgage i...

Read More

Crazy New Fannie Mae Underwriting Guidelines

On November 13, Fannie Mae changed the rules for getting a cash-out refinance for people with 5-10 financed properties.  Effective immediate...

Read More

Is Changing Loan Programs Allowed?

A lot of people ask us if it's OK to change loan programs after they have signed a sales contract to buy a house.  For example, can some...

Read More

Allowable Seller-Paid Closing Costs

When purchasing a house, the seller is allowed to pay for some of the buyer's closing costs, but there are limits to how much the seller...

Read More

When Does Mortgage Insurance Go Away?

What is mortgage insurance?  When do you have to get it?  When does it go away? Here's what you need to know: Mortgage insurance is an i...

Read More

Waiting Periods After Bankruptcies, Foreclosures, and Short Sales

After a bankruptcy, a foreclosure, or a short sale, a potential home buyer must wait a certain period of time before they are eligible to ge...

Read More

Down Payment Requirements

Here are the most recent down payment requirements for the various types of home loans: For conventional (non-government) loans: 5% down for...

Read More

How Much Can I Qualify For?

The top two questions we've been asked this past week are: "How big a mortgage can I qualify for if I make X amount of money?"...

Read More

Which Credit Score is Used?

There are three credit reporting agencies: Experian, TransUnion, and Equifax.  When a lender pulls someone's credit, they get a score fr...

Read More

Home Inspections

We are often asked by buyers and real estate agents to recommend a good home inspector.  Without hesitation, we can recommend Ken Ishmael. ...

Read More

Asset Documentation

Here's a list of the information that needs to be provided for a conventional loan when a borrower has to show that they have sufficient...

Read More

Closing Funds Changes

Some title companies are now requiring that the cashier's checks that buyers bring to the closing be made payable to the title company o...

Read More

How Much Down Payment Do I Need?

Here are the required down payments for various types of loans. For conventional (non-government) loans: 5% down for a primary residence (3%...

Read More

How Much Interest Am I Paying?

Everyone knows that when you first get a mortgage, most of the monthly payment goes to pay the interest and not to pay down the loan princip...

Read More

Recent CHFA Loan Changes

Here are some recent changes to the CHFA (Colorado Housing and Finance Authority) loan program: The minimum borrower contribution of $1,000 ...

Read More

Should You Dispute a Credit Account?

Many credit repair companies advise their clients to dispute accounts on their credit report, telling them the accounts will be removed from...

Read More

What Does POC Mean?

We get a lot of calls from people who have looked at our blog and web site.  The most common question we've had this past week is, ...

Read More

Conventional Vs. FHA Loans

Here are the main differences between conventional loans and FHA loans: Conventional Loans Minimum down payment is 3% of the purchase price....

Read More

Down Payment Requirements

Here are the latest down payment requirements for mortgages in the US: Primary residence (your main house): 3% for conventional loans 3.5% f...

Read More

Does Net Worth Affect Your Mortgage?

People often ask us if their net worth affects whether they will be approved for a mortgage.  The simple answer is NO. Net worth is defined ...

Read More

Don't Forget the Property Tax Credit

Now that we're well into the second half of the year, it's a good time to remember that the property tax credit that the seller give...

Read More

Quick Way to Make Closings Go Smoother

"I don't sign my name that way!"  Is that a common complaint from your buyers at closings?   We hear it all the time. Did you ...

Read More

FHA Construction Loan [mortgagegoalrates.blogspot.com]

FHA Construction Loan [mortgagegoalrates.blogspot.com] In the past four years, it seems loans for construction financing have been on the...

Read More

Should i refinance my mortgage,current mortgage interest rate,current mortgage rates,refinance mortgage [mortgageapproved.blogspot.com]

Should i refinance my mortgage,current mortgage interest rate,current mortgage rates,refinance mortgage [mortgageapproved.blogspot.com] T...

Read More

Online Payment Calculators for Home Mortgage Loans [mortgagegoalrates.blogspot.com]

Online Payment Calculators for Home Mortgage Loans [mortgagegoalrates.blogspot.com] ...

Read More

Essential Facts about VA home loan mortgage rates [mortgagegoalrates.blogspot.com]

Essential Facts about VA home loan mortgage rates [mortgagegoalrates.blogspot.com] ...

Read More

Best Mortgage First Time Buyer [mortgagegoalrates.blogspot.com]

Best Mortgage First Time Buyer [mortgagegoalrates.blogspot.com] Increase in reserves for government-sponsored entities (GSE) mortgage rep...

Read More

1st And 2nd Mortgage Refinance Loan [mortgagegoalrates.blogspot.com]

1st And 2nd Mortgage Refinance Loan [mortgagegoalrates.blogspot.com] Eddie Steiner, President and CEO commented, “We are pleased that s...

Read More

Lowest Fixed Rate Refinance Mortgage Loan Interest Rates [mortgageapproved.blogspot.com]

Lowest Fixed Rate Refinance Mortgage Loan Interest Rates [mortgageapproved.blogspot.com] Mortgage interest rates dipped to record lows la...

Read More

Current Mortgage Rates Holding Steady [mortgagegoalrates.blogspot.com]

Current Mortgage Rates Holding Steady [mortgagegoalrates.blogspot.com] Question by ohio_state98: Where can I find out current home mort...

Read More