What is Title Insurance and Why Do I Need It?
Title insurance is one of the more expensive items you pay for in a purchase and/or refinance transaction. The title company performs a detailed and comprehensive search to determine if any person or entity may have an interest in the property. The title insurance...3% Down Payment, Conventional Loan Available
I’m actually pretty shocked that down payment requirements have loosened and not tightened. What do you think this means for the housing industry and the lending landscape? Do you think it’s prudent? The highlights of this 3% down payment, conventional loan option...Increase to Annual Mortgage Insurance Premiums on FHA Loans
The U.S. Department of Housing and Urban Development just released a new statement that FHA’s annual mortgage insurance premiums (MIP) are going to increase by .25% across the board. The change will be effective for FHA case numbers issued on and after April...What is the 4506-T Form?
If you have gone through the refinance or purchase process in the past couple of years, you would have undoubtedly seen (and signed) the IRS 4506-T form at least two times, sometimes more. The 4506-T gives the lender authorization to request a copy of your tax return...Happy New Year!
Happy New Year! The message is a little delayed, but I left for my honeymoon on January 1st and am just now settling back to work. We went to Thailand and Bali, which are two beautiful countries filled with wonderful people, incredible cultures and picturesque...Fannie Mae/Freddie Mac Changes to Foreclosure Requirement
Fannie Mae just got a little more strict on their time period requirements for foreclosures. If you have been foreclosed upon, you cannot get a loan on a new home purchase for seven years. This went up from a minimum 5 year period. If you did a short-sale on your...Information Needed for a Rate Quote
I hope you all had a wonderful Thanksgiving surrounded by your loved ones. Mortgage rates have trended upwards the past three weeks, with significant daily swings, both up and down. World economic concerns (in particular, the European Union debt and banking issues)...Reminder: Last Day to Pay Property Taxes Without a Penalty!
Today, 12/10, is the last day to pay your 1st installment of property taxes without being assessed a late fee. If your payment is postmarked after today, the county will assess a 10% penalty, so it isn’t cheap! Being late on property taxes is NOT reported to...Homeowners Insurance Requirements
Homeowners insurance (sometimes called hazard or fire insurance) is required when you purchase and refinance your mortgage. Even if you own your home outright, it’s smart to have fire insurance, even if there is no lender actually requiring it. Proper coverage is...Loan Calculator
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