What to Really Expect for Closing Costs
Closing on a property is a very challenging time for a would-be homeowner. Being informed, either through your mortgage broker, your real estate agent, or through self knowledge is the best thing you can be when going through this procedure.A good real estate agent can help you tremendously. They ... more...

Eight Common Predatory Lending Schemes
Predatory lending is far more prevalent in refinancing than in the purchase market. One reason is that buyers tend to look for mortgages from established and recognized lenders, many of whom are bound by rules put forth by Fannie Mae, FHA, or the Veterans Administration. If they don't follow the ... more...

Selecting the Right Mortgage for You
A mortgage is a loan you take out to buy a home. This loan covers the "principal" (purchase price of the house minus your down payment) plus the "interest," which is the fee a lender charges you to borrow the money.There are various types of mortgages, including Fixed-rate, Adjustable-rate, Balloon ... more...

Predatory Mortgage Lenders How to Avoid Becoming a Victim
Predatory lenders are anyone that takes advantage of homeowners and their mortgages. Predatory lenders charge excessive fees for their services or force homeowner to purchase products or services they dont need. You can save yourself headaches and aggravation along with thousands of dollars by ... more...

Mortgage Points
If you have ever gone looking for quotes on a mortgage in order to find out just what a mortgage might cost you, you have probably had the term points thrown at you. So what are points?Each point is a fee and it is based on one percent of the total amount of the loan. There are a couple of ... more...

Things To Do When Considering a Home Loan
Making the decision to become a homeowner is one of life's biggest decisions. Planning and preparation is the key to achieving the goal within the desired time frame. Being an active participant in the home loan process will make it easier for your dream to become a reality. Here are a few tips:1. ... more...

Option ARM Mortgage Loan - Is This Really for You?
What happened to the days of a 15 or 30 year fixed rate mortgage loan? Ultimately this is the safest and most popular mortgage loan product in our industry, but new mortgage products are hitting the market, and we in the mortgage business are using them to our advantage; ever heard the radio ... more...

Be Prepared to Pay Closing Costs
It can be so hard to save the money for a down payment, then you realize that you'll need to pay closing costs as well. It can be a stressful feeling, wondering if you are going to have enough cash at closing.You will receive a Good Faith Estimate of the closing costs within three days of applying ... more...

Mortgage Loans
A mortgage is a device used to create a lien on real estate by contract. The mortgage is an instrument that the borrower (called the mortgagor) uses to pledge real property to the lender (called the mortgagee) as security for a debt, also called hypothecation. The mortgage, as a rule, consists of ... more...