When you buy a home, you have many fees to pay and not all of them pertain to the lender. There are third party fees you may encounter, including the mortgage appraisal fee. This fee covers the cost of the appraiser evaluating the property and coming up with a fair market value for Read more
Buying Discount Points to Lower Your Interest Rate
It is an age-old question: should you pay points in order to secure a lower interest rate? While every situation differs, there are certain factors to consider before you determine the right answer for you. How much money you have to put down on the home as well as pay for closing costs is one of Read more
Refinancing Basics You Must Understand
You already have a mortgage, so you assume you know everything about refinancing. This may not be true, though. There are some differences between a purchase mortgage and a refinance mortgage. Before you start the process, familiarize yourself with these terms. This will enable you to know the right Read more
How to Get the Right Mortgage for a Fixer-Upper
If you’ve fallen in love with a fixer-upper, you may find that it’s difficult to find financing. Your standard conventional loans or even government-backed loans won’t touch it. The home must be able to pass an appraisal to get this type of financing. So what type of loan can you get that will allow Read more
Reasons to Consider a Stated Income Refinance Loan
The stated income loan received a bad reputation after the housing crisis. In fact, there was a long period of time where no lenders offered this program at all. Now that things have settled down and lenders figured out the best way to handle certain situations, the stated income purchase and stated Read more
