Loan Locks - When is the Best Time to Lock a Loan?
By Rosemarie Voltz, Loan Originator What Does it Mean to Lock a Loan? When it comes to locking the interest rate on a mortgage loan, everybody wants to time it to get the best deal. There's nothing...
View ArticleWhen can I cancel PMI?
By Denise Gipp, Mortgage Loan Originator Under the Homeowners Protection Act (HPA) of 1998, lenders are required to cancel private mortgage insurance on most home mortgage loans made after July 29,...
View ArticleHow is your credit score calculated?
By Ron Altieri, Vice President Consumers want high credit scores, but do they know how to credit scores work? Scores are based on a scale of 300-850 and determine how much credit consumers are eligible...
View ArticleWhy does a bank appraise a home before I buy it?
By Albert Paul, Mortgage Loan Specialist When you purchase a home a very important step in the mortgage application is having the home appraised. When the bank has a third party do an independent...
View ArticleMortgage Terms Defined
By Rosemarie Voltz, Mortgage Loan OriginatorWhat is APR (Annual Percentage Rate)?APR is an annual percentage rate that represents the complete annual cost of your mortgage loan. This means that, in...
View ArticleMortgage Rates Are Rising
By Ron Altieri, Vice PresidentThe recent increase in mortgage rates is being driven by the fear of inflation. As inflation fears occur, rates on mortgages increase in response.
View ArticleHow Lower Credit Line Limits Hurt Your Scores
By Denise Gipp, Mortgage Loan Originator Here’s a homeowner credit torture scenario that is happening and now has a major real estate lobby on Capitol Hill demanding immediate reforms.
View ArticleWhen should I refinance my mortgage loan?
By Denise Gipp, Mortgage Loan OriginatorIt's good to know when to refinance your mortgage loan. Can you recoup the closing costs of the new mortgage in the first 12 months?
View ArticleWill rates rise or remain unchanged?
By Ron Altieri, Vice PresidentExperts and analysts predict that mortgage rates will rise.
View ArticleFederal Reserve Holds Off on Rate Change
By Ron Altieri, Vice PresidentThe Federal Open Market Committee left interest rates unchanged at their January 26 meeting.
View ArticleThings to consider before “window shopping” for a new home
By Al Paul, Mortgage Loan SpecialistWith spring right around the corner, you may be considering buying your first home, upsizing, or downsizing for a variety of reasons.
View ArticleSingle Women Buy Homes, Too!
By Denise Gipp, Mortgage Loan OriginatorRecord numbers of single women are buying homes. If you’re a single woman who wants to buy a house, the good news is the market is wide open for you.
View ArticleWhy Do I Have to Obtain a Title Insurance Policy If I Am Refinancing With the...
By Nanette Quay, Mortgage Loan SpecialistThe good news is if you have obtained title insurance within the past four (4) years, you may be entitled to a 20%-30% discount off the title insurance premium...
View ArticleRole of a Real Estate Agent/Broker
by Nanette Quay, Mortgage Loan SpecialistYou’ve been pre-approved by a lender and are now in the market for a new home. Should you hire a Buyer’s Agent immediately? Or should you call the Agent/Broker...
View ArticleWhat Homebuyers Want
By Ronald J. Altieri, Vice PresidentAccording to the National Association of Realtors, homebuyers want a home in great condition with rooms that can double duty.
View ArticleWhen is Private Mortgage Insurance Required?
By Ron Altieri, Vice PresidentWhen is Private Mortgage Insurance ( PMI ) required on a conventional mortgage?
View ArticleFHA INCREASES MIP RATES EFFECTIVE 4/18/11
by Ron Altieri, Vice PresidentFor the third time in the last 12 months, the FHA has increased its Mortgage Insurance Premiums, (MIP) by 25 basis points, or 0.25 percent, for all FHA case numbers...
View ArticleRefinance Your Mortgage at 125% LTV
By Ron Altieri, Vice PresidentDid you know you if your mortgage is owned by Fannie Mae or Freddie Mac you may be eligible to refinance to a lower interest rate, and the loan to property value may be as...
View ArticleThe Short Sale Process
By Albert Paul, Mortgage Loan SpecialistRoughly forty percent of the homes for sale on today’s market are short sales and foreclosures! Distressed properties are well known for their value (a...
View ArticleShould You Refinance?
By Ron Altieri, Vice PresidentTo evaluate whether you should refinance your existing mortgage, consider the payback period it will take you to recoup your costs.
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