Tax Credit for Down Payment
on Jun 3, 2009 in Budgeting Mortgage Qualifying down payment FHA Government Loans purchase On May 12, 2009 Cindy posted about the possibility of using the tax credit for down payment on FHA mortgages.  At that time we had shared that “We have to find out if there are any government agencies or non-profits in your area are willing to...

To Lock or Not to Lock Mortgage Rate
on May 29, 2009 in Mortgage interest rate Interest Rates   Anyone who was recently “floating” their rate in the hopes of another dip in rates can tell you the answer they would now have in hindsight. As they say, hindsight is 20/20.  But if only we all had a crystal ball, would we trust it or still t...

Mortgage Brokers vs Mortgage Bankers
on May 15, 2009 in Mortgage mortgage banker mortgage broker selecting a lender Shopping Not all lenders are created equal.  Knowing the difference between the different types of lenders and how those differences impact you could save you money and provide you with more options.  Most people think of mortgage brokers when they think o...

Tax Credit for Down Payment…..the Rest of the Story!
on May 13, 2009 in Mortgage Qualifying down payment FHA Just like the Long Ranger might say to his horse, Silver…..WHOA! Here is what is being left out of the press releases that you need to be aware of…….HUD/FHA can approve the ability to allow the borrowers to use the government tax credit toward...

Get Your $8,000 Tax Credit Now!
on May 11, 2009 in Budgeting Mortgage Qualifying assets down payment FHA income purchase savings selecting a lender One of my customers contacted me to discuss methods to be able to use his $8,000 Federal Tax Credit for purchasing his first home in 2009.  I would like to share the details of our conversation with you so that it may assist you in the case you are...

Good Faith Estimate Explained
on May 8, 2009 in Mortgage Fees interest rate Points The Good Faith Estimate, also known as a GFE, shows the interest rate, term, loan amount, and all settlement costs on a particular loan. The Good Faith Estimate is divided up into several categories:  The loan fees, the Title and closing fees, prep...

Home Valuation Code of Conduct - Conventional Mortgages
on May 1, 2009 in Mortgage Qualifying appraisal down payment Fannie Mae FHA foreclosure Freddie Mac LTV purchase refinance Modifications to the way in which lenders and appraisers work together go into effect today, May 1, 2009.  According to the Federal Housing Finance Agency (FHFA) the changes to the Home Valuation Code of Conduct “will help assure that borrower...

A New Look…New Life
on Apr 29, 2009 in Mortgage purchase refinance web site It has been a while since our last post and we apologize for the lack of attention we have placed on keeping you updated. We have made a recent commitment to post, at a minimum, once a week. We will also be sure to keep you updated as there are maj...

Mortgage Rates at ALL-TIME Lows!!
on Jan 9, 2009 in Budgeting Mortgage Qualifying Bailout Interest Rates refinance selecting a lender Rates are incredibly low…how low?  Well, I was curious, so I decided to check it out and I figured I would pass on the information I found in my research.  I checked out a few websites that provide historic rates, but I figured I would go str.

Are You Eligible for the $7,500 Housing Tax Credit?
on Jan 7, 2009 in Budgeting Mortgage Qualifying assets Bailout savings Did you know that you may be eligible for a $7,500 tax credit if you purchased your first home (even if you were not a first time home buyer, you may still be eligible - so read on) in 2008 and into 2009?  Well, it isn’t exactly a tax credit,..