The purchase of a house that needs repair is often a catch-22 situation, because the bank won’t lend the money to buy the house until the repairs are complete, and the repairs can’t be done until the house has been purchased. A new FHA-insured mortgage, called the 203(k) loan, permits homebuyers to finance an additional $35,000 […]
Read More →FHA Loans – Waiting to Buy Will Hit Your Pocketbook
Yesterday morning mortgage broker Venessa Ward of Pacific Residential Mortgage spoke to the Bella Casa Real Estate brokerage. She covered a lot of valuable information and I wanted to share some of the key points we learned from Venessa. Venessa provided this FHA loan scenario to illustrate how waiting to purchase will hit your pocketbook […]
Read More →What is an FHA Mortgage?
This is the first post in a series about the FHA (Federal Housing Administration). In short, the FHA is an agency of the federal government that helps borrowers get amounts they qualify for, and assists lenders by reducing their risk in issuing loans. The FHA is the largest insurer of residential mortgages in the world, […]
Read More →Mortgage Rates – Economic Update
The Fed has told us repeatedly that their massive purchasing program of Mortgage Backed Securities is just about over – and this translates to home loan rates rising in the near future. As you can see in the chart below, the amounts of Mortgage Backed Securities the Fed is purchasing are slowly dwindling, as the […]
Read More →Mortgage Interest Rates for February 8, 2010
Mortgage Interest Rates for Fixed Rate Mortgages* Rates as of Monday, February 8, 2010 Source: Travis Newton, Owner/Sr. Mortgage Banker ML-137, Today’s Mortgage Group Phone: 503-931-4490 travis@todaysmortgagegroup.com
Read More →Smart Homebuyers Learn Mortgage Basics
Educating yourself on the basics of mortgage finance can save you headaches, time, and confusion, not to mention money. David Bach, best-selling personal finance author, explains mortgage basics in this 5 minute video for homebuyers. [vodpod id=ExternalVideo.916733&w=425&h=350&fv=videoId%3D28990232001%26amp%3BplayerId%3D1465406675%26amp%3BviewerSecureGatewayURL%3Dhttps%3A%2F%2Fconsole.brightcove.com%2Fservices%2Famfgateway%26amp%3BservicesURL%3Dhttp%3A%2F%2Fservices.brightcove.com%2Fservices%26amp%3BcdnURL%3Dhttp%3A%2F%2Fadmin.brightcove.com%26amp%3Bdomain%3Dembed%26amp%3BautoStart%3Dfalse%26amp%3B] Click here to view Bella Casa’s list of local mortgage brokers and banks.
Read More →New Law Affects Good Faith Estimates
Contributed by: Glen Bremer, Alpine Mortgage Planning Office: 503-718-9856 We begin 2010 with some major changes to the Good Faith Estimate and how it is used. You’ve most likely heard about the new law that went into effect January 1, 2010 stating that mortgage advisors must now honor all lending fees they quote in their […]
Read More →Mortgage Interest Rates for January 4, 2010
Contributed by Travis Newton, Owner & Sr. Mortgage Banker Today’s Mortgage Group ML 137
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Mortgage Brokers to Avoid
When selecting your mortgage broker, rely on personal referrals and choose a local broker with a physical office nearby.
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