Mortgage Information

Second Chance for Former Homeowners from FHA

Former homeowners who lost their homes due to short sale, foreclosure or had to file bankruptcy in recent years may be eligible for a second chance.  These so…

Your Savings and Down Payment

Your First Step Toward Buying a Home When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers,…

Types of Mortgage Lenders

Mortgage Bankers Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac,…

The Biweekly Mortgage – Who Needs It?

Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your payments? With email spam becoming more pervasive…

The Advantages of Different Types of Mortgage Lenders

What kind of lender is best? If you ask a loan officer, “What kind of lender is best?” the answer will be whatever kind of company he works…

Items You Need When Applying For a Loan

Have These Items Ready When You Apply For a Loan It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in…

FICO® Scores and Your Mortgage

Years ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on…

FICO® Score – a Brief Explanation

When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you…

Documenting Your Assets – Verifying Your Down Payment

When buying a home, it is not enough to just come up with the money. With the exception of no asset verification loans, lenders want to verify where…

Closing Costs When Buying or Refinancing a Home

This is a detailed summary of costs you may have to pay when you buy or refinance your home. They are listed in the order that they should…

The No-Cost Thirty Year Fixed Rate Mortgage

There really is no such thing as a no-cost mortgage loan. There are always costs, such as appraisal fees, escrow fees, title insurance fees, document fees, processing fees,…

Tax Credit for New Windows and Doors

Understanding Energy Ratings for Windows and Doors By: Karin Beuerlein Published: January 4, 2013 Qualifying for the $200-$500 federal tax credit on new windows and doors depends on…