Archive for the ‘Rates & Fees’ Category

January 15, 2010 0

Drop Your Rate from 5.5% to 4% – NO JOKE!

By Marla in Assistance, Qualifying, Rates & Fees, Taxes

Would you like to drop your mortgage rate from 5.5% to 4%?  Crazy question, right?  In Colorado, qualified homebuyers can apply for the Colorado Housing and Finance Authority (CHFA) Mortgage Credit Certificate (MCC) to do just that.  That was a mouthful!
Everyone knows that their monthly payments for the first several years of their home mortgage [...]

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January 11, 2010 0

The Lender that Could – I Knew I Could

By Scott in Choosing a Lender, Qualifying, Rates & Fees

The mortgage business can be a confusing industry to understand. There are different types of loans, different types of lenders and different paths for loans after closing. All of these can impact your ability to get approved for a mortgage loan, the terms of the loan or how smoothly the process goes. [...]

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January 4, 2010 0

Max FHA Origination Fee – ELIMINATED

By Scott in Big Changes, Choosing a Lender, FHA, Rates & Fees

Effective January 1, 2010 the Department of Housing and Urban Development (HUD) who runs the Federal Housing Administration (FHA) modified their policies surrounding the maximum amount a mortgage lender may charge for “origination” fees on FHA mortgages.  This is no surprise due to the recent changes the the HUD and GFE that went into effect [...]

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