Tag Archives: Choosing a Lender
22 NovFive Hurdles to Mortgage Qualifying
Everyone has heard of the tightening of the credit market but what does that really mean to you? What does that really mean to you as a home buyer? Over approximately the past six years we have gone from a race around a track to get a loan approved to a hurdle race. Let me [...]
Read More ...01 FebCHFA FirstStep NOW Available
On January 28 we first told you about CHFA’s FirstStep and FirstStep Plus programs that were going to be available February 1, 2010. It is now February 1 and we wanted to let you know the details of the program. CHFA FirstStep Through the sale of non-taxable mortgage revenue bonds, CHFA is able to offer [...]
Read More ...11 JanThe Lender that Could – I Knew I Could
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. I bring this [...]
Read More ...04 JanMax FHA Origination Fee – ELIMINATED
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 [...]
Read More ...15 MayMortgage Brokers vs Mortgage Bankers
Not all lenders are created equal. Knowing the difference between the different types of lenders and how those differences impact you could save you money and provide you with more options. Most people think of mortgage brokers when they think of talking with someone about obtaining a mortgage but mortgage brokers are only one type of [...]
Read More ...19 Nov8 Questions to Ask Your Lender
I was planning to start this post telling you about how important a home purchase and mortgage financing transaction can be, but I think everyone already knows that. Before I jump right into the questions, I want to explain the questions I am suggesting you ask. Most sites on the Internet suggest asking specific questions [...]
Read More ...31 OctMortgage Shopping
Mortgage shopping isn’t exactly like grocery shopping or clothes shopping, but it is actually quite similar. Ultimately when you are shopping you are looking for two things: quality and cost. If you can get a high quality product at a low cost, why would you go anywhere else? Some retailers strive on providing great quality [...]
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