Should I pay Points or No Points? Many lenders offer loans with and without an origination point. Before deciding whether or note to pay this point, you must consider two things: How long do you plan to own the property? What is my recapture period? A recapture period is the
Mortgage Rates, The Election and The New Year Without getting too political I think it’s safe to say that was one of the craziest campaign seasons and elections our country has ever seen. It also ended with probably one of the biggest upsets ever and the markets weren’t sure how
Renovation Loans: Are they available? Want to buy a fixer upper? Are you looking for a home and can’t find something that specifically meets your needs or you find a home that has some obvious work that needs to be done? You will need to address this up front with
Managing Student Loans Managing Student Loans and Payment Options As any medical professional knows, Student loan payments can be very high . This may impact the price range of home you are able to qualify for. Due to the large number of students who struggle with student loan debt, there
What Makes a Loan Pre-Approval? Understanding Loan Approval Amounts At the start of a home search, one of the most pressing questions on the minds of borrowers is how much can I be approved for? While it is a simple and straightforward question, the answer can be very convoluted, leading
FAQ on Doctor Loans Frequently Asked Questions Q: What are the benefits of a “Doctor’s Loan?” A: The Doctor Loan requires No Down Payment with No Mortgage Insurance. In addition, the Residents and Fellows deferred student loans do not count towards the debt ratio. Q: Who qualifies for the Doctor
Self-Employment and Buying a New Home. Self-employed? You’ve chosen a path which gives you the flexibility to determine your style and momentum of doing business – there is no doubt about the excitement in this. Being self-employed also comes with a different fiscal responsibility.There are many blogs and articles out
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
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
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
