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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...Applying for a Loan as “Married” or “Married Filing Separately” – Not Just a Tax Question
“I’m considering applying for a conventional loan. I have excellent credit, but my husband does not. Can I apply for the loan on my own?” This question comes up quite a lot, especially with newly married couples that come into their marriage with different...Appealing or Rebutting Your Appraisal
If you are purchasing or refinancing, one of the biggest components to getting approved for your loan is the appraisal. For some, equity is a non-issue, but for others, the appraisal can make or break the deal. When the home’s appraised value comes in lower than...Get Ready for Fall with Home Maintenance Now! by Guest Blogger Kathy Sturr
This blog post is a contribution by my friend and interior-designer extraordinaire Kathy Sturr. Check out her website Inside-Out Designs and subscribe to her blog. She has amazing insight and tips! Here’s what Kathy has to say about preparing for Fall with...Your Property Tax Basis – Paying Supplemental Taxes or Asking for a Refund
In California, your property taxes are based on 1.25% of the purchase price at which you bought your home. For example, if you buy a $500,000 home, your annual taxes will be $6250, or $520.83 monthly. They can and will increase based on certain limits instituted by...More Big Changes to FHA Loan Premiums
It was only a few months ago that HUD increased FHA’s Upfront Mortgage Insurance Premium (UFMIP) from 1.75% to 2.25%. HUD will now decrease the UFMIP down to 1.0%, but will increase the monthly mortgage insurance amount from .55% to .90%. Let’s see how this truly pans...Excellent Financing Program for Fannie-Mae Owned Homes
For those of you in the market to purchase a home, you should definitely check out www.homepath.com This program is for the purchase of Fannie Mae-owned homes. Some of the program’s main highlights are: Low down payment (as little as 5% down on conforming loans or...Loan Calculator
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