Reminder: Your Settlement Statement (HUD-1) and Filing Your Taxes
With tax season right around the corner, I’m sure you’re all starting to collect your pertinent documentation. Remember that if you closed a home purchase or refinance in 2009, you will want to provide your accountant a copy of your Settlement Statement...Why You See Advertisements for ARMs where the APR is less than the Note Rate
I walked into my bank the other day and saw this advertisement: “5/1 ARM: 3.875%, APR 3.675%!!!” (The exclamation marks were the bank’s, not mine). This has always been one of my pet peeves because it seems so misleading, although technically,...Financing Contingency Periods in this Market
With the new Home Valuation Code of Conduct (HVCC) law, I have no control over whom to order your appraisal from. Without this control comes the lack of a relationship with the appraiser to ask them to appraise your home in a timely manner. Your Realtor should know...Significant Change to Max Qualifying Ratios Allowed
Beginning December 11th, it will officially be harder to qualify for a home loan. In the past and up until 12/11/09, lenders allow(ed) your qualifying ratio to go up to 55%, at least with compensating factors of good credit and 20% equity or down payment in a home....Loan Calculator
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