Why does anyone choose an ARM???

Why does anyone choose an ARM??? One of the first choices you come across when deciding on a mortgage is Fixed Rate or ARM. Most people will respond quickly with 30 yr fixed, some will say 15 yr and even less will say tell me about both. Let’s start with a definition, ARM stands for […]

The added pain of Financing a Condo

The added pain of Financing a Condo There are added elements to buying a Condo Here’s what you need to know. Home buyers are paying with cash more than ever. In the first quarter, 43% of home sales used cash, according to RealtyTrac, the highest level since the data firm began tracking this three years […]

Prequalification: Focus on Payment, Not Price

Prequalification: Focus on Payment, Not Price If a lender tells you that you’re prequalified for a $275,000 purchase, then you’re qualified to buy any $275,000 property that you desire, right? When you talk with lenders, you want to ask about the maximum purchase price that you qualify for, don’t you?After all, what you want to […]

A Tribute to Physician Spouses

A Tribute to Physician Spouses This month seems an especially fitting time of year to celebrate physician spouses and significant others. Behind many a successful Medical Professional, is the love, teamwork and support of their partners.Below is my list of links to blogs written by Physician spouses. Here you can read, relate and share in […]

Home Owners Insurance. How much is Required?

Home Owners Insurance. How much is Required? How much coverage will your lender required for Home Owners Insurance? Home Owners Insurance is sometimes referred to as a “Hazard Insurance”. This policy is what your lender requires to cover your new home in case of fire or property damages.There are two ways in which lender view […]

Fixed Rate vs ARM Doctor Loan?

Fixed Rate vs ARM Doctor Loan? Market uncertainty has kept interest rates low. Over the last couple of months, several prospective Physician homebuyers may ask same question, “Should I take a Fixed Rate or should I consider an Adjustable Rate Mortgage?” While much depends on your personal financial goals and objectives, there are five questions […]

Seller Concessions to Cover Closing Costs

Seller Concessions to Cover Closing Costs No one likes closing costs: I want to discuss “seller concessions” – these are funds that the seller can contribute toward your costs to take out a new loan. For the purposes of this blog I am going to use the scenario of “conventional” financing. Conventional financing is a […]

Expectations of the loan process.

Expectations of the loan process. Being on the same page with your lender about your responsibilities and timing for each step in the process is key. During the mortgage loan transaction, there are responsibilities of both the lender and the borrower. The mortgage process can anxious time for borrowers and the important thing to know […]

Understanding Closing Costs

Understanding Closing Costs Homebuyers are generally responsible for making down payment on a new purchase as well as paying closing costs. These closing fees typically run between 2% and 5% of the home purchase price. Understanding more about what makes up these fees, will help you to compare rates and fees across lenders as well […]

Before you start your home search

Before you start your home search Searching for a home is a very exciting time, especially if it’s your first home. When you are ready to start looking, check off these 5 things before beginning your search. It will ensure you are prepared to buy the home, get a loan approved with the best terms, […]