Market Talk
The market has swung wildly since last week. Fed Day last Wednesday brought the expected .5% rate cut, bringing the Fed Funds Rate (the rate at which banks lend money to each other) to 1.0%. As consumers, this will affect and decrease Prime Rate. Rates saw great...What is an Impound Account?
An impound account, sometimes referred to as a “Reserve Account” is when your property taxes and homeowners insurance get collected monthly along with your mortgage payment. In California, you have a choice as to whether or not you want an impound account, although...Paying Points – Does it Make Sense?
I’ve been asked a few question about the use of paying points the past few weeks, so I’d like to comment on this a little bit. Whether or not you should pay a point to buy down the interest rate takes both math and speculation. On average, 1 point buys down the...The Matter of a Down Payment
We all know that getting a loan is much harder to get and to qualify for nowadays. First time homebuyer programs with low down payment requirements of 3.5%-5.0% down are still available, but they can be somewhat restrictive in who can get them, and can also be more...Loan Calculator
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