Helpful Mortgage And Real Estate Advice

Tag: FAQ

RealtyTrac – Foreclosure Report: January 2014

By on February 17, 2014 in Market Updates
RealtyTrac – Foreclosure Report: January 2014

There was a spike in foreclosure numbers interpreted in the most recent report released by RealtyTrac (the nation’s leading source of comprehensive housing data). The U.S. saw an 8 percent increase in January and double digit increases in several states. There were a total of 124,419 reported U.S. properties, one in every 1,058 housing units […]

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FHFA Report – November 2013: Top 10 HARP Refinance States

By on February 11, 2014 in Market Updates
FHFA Report – November 2013: Top 10 HARP Refinance States

According to the Federal Housing Finance Agency (FHFA) and the most recent report put out in HARP Refinance activities for November 2013. HARP refinances have continued to decrease as mortgage rates are at a range of four to four and a half percent since June 2013. The average interest rate in a 30 year fixed […]

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What Is HUD?

By on January 17, 2014 in Mortgage Videos

When you begin to wade into the waters of real estate, several acronyms are thrown around in the industry, including HUD. Short for the U.S. Department of Housing and Urban Development, HUD is a specific federal department that deals squarely with the housing market, from rentals to homeownership. It helps everyone, either directly or indirectly, […]

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What Is The Best Way To Compare Loan Terms Between Lenders?

By on January 17, 2014 in Mortgage Videos

When you bought your first big asset, such as a car, you probably received several quotes before even starting the financing paperwork. The same holds true for home purchases. Every lender has a slightly different loan program, based on your credit history and prospective property. You should always obtain at least two to three home […]

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How Do I Make An Offer?

By on January 17, 2014 in Home Buying Advice, Mortgage Videos

When you visit enough open houses to make your head spin, you may be ready to put an offer in on your favorite property. You are ready to invest in your dream home, but an offer is much more than just a monetary amount. To make a valid offer on a prospective home, you depend […]

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How Do Lenders Decide On The Maximum Loan Amount That Buyers Can Afford?

By on January 17, 2014 in Mortgage Videos

If you are new to the real estate market, the cost of a home may appear daunting. You may feel that you cannot qualify for any home loans, based on your income. However, lenders have a logical and clever way to formulate the best loan amount for you. It is possible to own a home, […]

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How Does Purchasing Compare With Renting?

By on January 17, 2014 in Mortgage Videos

There is truly no comparison between renting and owning a home. The two concepts are worlds apart, such as comparing apples to oranges. If you are a renter considering homeownership, it is time to look at both the advantages and disadvantages of renting a property. Owning a home has many more advantages by far. Landlord […]

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When Do Adjustable Rate Mortgages Make Sense?

By on January 17, 2014 in Mortgage Rates, Mortgage Videos

All your friends and family have told you to stick with a fixed rate mortgage loan, but you are considering an adjustable type. Adjustable rate mortgages, or ARMs, are loans with an interest rate that changes periodically, typically each year. Although this prospective change in payment amount seems taunting, there are certain situations where ARMs […]

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What Happens On Closing Day?

By on January 16, 2014 in Mortgage Videos

The day you purchase your new home is much different than renting a standard apartment. You, the seller and the lender must be present to transfer documents and sign paperwork for a legal property transfer. With all the excitement leading to holding a set of keys to the front door, you need to take a […]

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What If I Find A Mistake In My Credit History?

By on January 16, 2014 in Mortgage Videos

You’ve taken the time to download and print your credit history from all three credit bureaus, including Experian, Equifax and TransUnion. As you read through the history, however, you see a glaring mistake. Regardless of the mistake type, it makes a significant difference on your credit score. If you see a mistake, take these few […]

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What Do I Get At Closing?

By on January 16, 2014 in Mortgage Videos

When you finally close on a property sale, you are essentially ready to move in and settle into your new home. On closing day, or property transfer day, there are a number of transactions and documents that must be paid or signed to make the transfer legal and fair. Both the buyer and seller need […]

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What Should I Look For In The Final Walkthrough?

By on January 16, 2014 in Home Buying Advice, Mortgage Videos

After finding a home and negotiating a price, you are inching closer to becoming a homeowner. Part of the final checks in a property transfer is the walkthrough. You’ve visited the home several times by now, but it is commonly full of furniture and decorations. The final walkthrough allows you to see the home bare, […]

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How Can I Find Out Information About My Credit History?

By on January 16, 2014 in Mortgage Videos

Your lender looks up credit histories everyday for their clients, but you don’t need to stay in the dark. You can easily find out information about your credit history by contacting the major credit bureaus. It is your right to know about the information that lenders are using to finance your new home. A stellar […]

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What Costs or Fees Are Associated With Loan Origination Process?

By on January 16, 2014 in Mortgage Videos

The home buying process can be an expensive one, depending on your location. Along with budgeting for principal, interest and property taxes, the actual loan process has several fees attributed to it. This paperwork process takes several people to complete, including your main lender contact. Take a look behind the scenes to understand the fees […]

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What Happens After I’ve Applied For My Loan?

By on January 16, 2014 in Mortgage Videos

The mortgage loan application process first involves a stack of paperwork that you must submit, including pay check stubs, W-2 forms and bank statements. You may have turned in all the necessary paperwork to your lender. At this point, it is a waiting game. However, there are a few things that you can do to […]

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