Buying your first home is an exciting process, and it’s easy to get caught up in the exciting parts and lose track of the details. Unfortunately, if you aren’t paying attention, it becomes easy for unscrupulous people to take advantage of you. Here are some of the top scams that first time home buyers fall […]
The Top Four Mistakes First Time Homebuyers Make (And How To Avoid Them)
As a first time buyer, you’re probably excited to start the process of looking for your new home. But before you get your comfortable shoes on and start looking at listings, there are a few things you should do first. Many first time buyers forget to do these steps and end up regretting it in […]
Common Mistakes in the Refinancing Decision
We have discussed basic #RefinancingDecision in other posts. If you are just starting on this topic read “Refinancing 101” first. The greatest issue with most refinancing decision is the failure to account for: Time Value of Future Dollars Time Value of Money (TVM) is the idea that money available at the present time is worth […]
Cost of obtaining a loan up 6% to $2,539 nationwide
Mortgage closing costs rose six percent over the past year and now average $2,539 on a $200,000 loan, according to Bankrate.com. Origination fees increased nine percent to $1,877 and third-party fees rose one percent to $662. Florida ranks eighth nationally, according to Bankrate. On a $200,000 loan, the average origination fees charged by lenders is […]
3 EASY challenges to overcome when buying a home
It is imperative that your agent knows how to handle the challenges that will arise. Wisdom in overcoming challenges comes through experience in today’s fast paced market. Many challenges exist throughout this process that you do not need to go through. An agent with a track record of success has learned to avoid many of […]
Mortgage Mistakes to Avoid
This topic has become increasingly more relevant with the restrictions and intricacies of the mortgage world. There are lenders out there promising things that they have no control over. The average homebuyer is under the assumption that they way to find a good mortgage professional is by shopping around and comparing rates and fees. Although this […]
Is it time to “lock-in” your loan?
Is now the time to lock the interest rates on your mortgage? Here are a couple of things to consider: 1.The major concern is the growing possibility that the rating agencies are looking at downgrading our government’s bonds from AAA status. By lowering the credit rating of the bonds being presented to the market, the […]
How Much Can I Afford?
How much mortgage money can I qualify to borrow? This is typically the number one question mortgage professionals are asked by new clients. Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for a comfortable long-term […]
Top 10 Ways to Finance a Home Without All the Drama
By Tara-Nicholle Nelson, FrontDoor.com | Published: 4/14/2009 Many lenders these days are fixing their current borrowers’ soon-to-adjust ARMs to prevent homes from ending up in foreclosure. #1: Fix your broken ARM. When I hear talk of fixing an ARM, or adjustable rate mortgage, I envision a mortgage broker hammering away at a broken loan, then […]
