Wasatch Mortgage's (wasatchlending) Blog

Wasatch Mortgage is proud to annouce that FHAUTAH.COM is now online! We feel like it is important to provide Utah with all FHA updates that apply directly to our community.  Now there is one site that will post any applicable FHA updates!  What you will find: New FHA Limits. New FHA lending guide...

I think this says it all!

A short sale almost certainly will negatively impact credit scores because you are settling the mortgage debt for less than you agreed to pay originally. I say almost certainly because in rare cases a lender may report the debt as paid in full and forgive the remaining portion of the debt.  While...

203(b) Mortgage Insurance What is the purpose of this program? To provide mortgage insurance for a person to purchase or refinance a principal residence. The mortgage loan is funded by a lending institution, such as a mortgage company, bank, savings and loan association and the mortgage is insure...

Funds for Handyman-Specials and Fixer-Uppers The purchase of a house that needs repair is often a catch-22 situation, because the bank won't lend the money to buy the house until the repairs are complete, and the repairs can't be done until the house has been purchased. HUD's 203(k) program can h...

      Home Buyer Resources Buying a home can be complicated, but fortunately a lot of expert advice is available to help people navigate the experience. These online resources can help make the process smoother. Buying and Owning a Home Freddie MacBuying a Home Department of Housing and Urban De...

The Law's Other Provisions In addition to providing a $7,500 tax credit for qualified first-time home buyers, the Housing and Economic Recovery Act of 2008 includes a number of other provisions that will help prevent foreclosures, reinvigorate the housing market and strengthen the nation's econo...

  An overview of the loan process Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can ...

Loan Application Checklist In general, the documentation you will need includes: Check for application fee Property Information (if you already have a contract on a house) Purchase Agreement. Copy of legal description and MLS sheet. If you are selling your current home, copy of listing contract. ...

What are the advantages of fixed rate versus adjustable rate loans? With a fixed-rate loan, your monthly payment of principal and interest never change for the life of your loan. Your property taxes may go up (we almost said down, too!), and so might your homeowner's insurance premium part of you...