You may have visited with friends and family who refinanced their home, and wondered if they refinanced, should you? How do you know if refinancing is the best option to pursue? Reasons Why Most homeowners decide to refinance when one or more of the following favorable conditions exist: Your home
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03/25/2011
www.federalhousingtaxcredit.com excellent web site about the tax credit $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to
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11/09/2009
Locking your rate means committing to a specific loan program and structure at a specific interest rate for a specific period of time. As long as you close your loan before the expiration of that lock, we are committed to honoring the terms of that loan regardless of market activity. Rates can ge
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10/21/2009
The latest Senate proposal would drop the requirement that the credit be available only to first-time buyers, broadening the reach of the program but also adding to its cost, estimated by congressional analysts at $16.7 billion. The backers of that idea, Sens. Johnny Isakson, R-Ga., and Christop
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10/16/2009
Closing Costs are the fees incurred when you close on your transaction. Agood way to look at them is as the cost of borrowing money. Generally they are fees paid to different people for something they provided that was a requirement for the loan's approval or set up.Here is a list of common closi
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10/16/2009
The annual percentage rate (APR) is an interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account points and other credit costs. The APR allows homebuyers to compare
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09/18/2009
A by Mark Batterson This is a GREAT read. "Our best days often start out as our worst days. And our greatest opportunities are often disguised as our biggest problems. You can land in a pit with a lion on a snowy day, and it will seem like the end of the road.You will look back longingly on risks
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09/18/2009
It's never fun to be turned down for a loan, but before you think you won't be able to get credit anywhere, there are some steps you can take. Lenders are required by a federal law, The Equal Credit Opportunity Act, to tell you in writing when you've been turned down for credit. Two important pie
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09/18/2009
If you have a score of 680 or above, you may be considered an A+ borrower. Your loan will involve basic underwriting, probably through a computerized automated underwriting system and could be completed within minutes. If you are in this category, you have a good chance of obtaining a low interes
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08/22/2009
Keep copies of all earnest money checks and proof that the checks have cleared your bank. Provide this documentation to your lender so that you get proper credit on your closing documents. Notify your mortgage company of the final sales price at least five days prior to your closing. If your sa
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08/22/2009
