Posts

How to Cancel PMI and Lower Your Monthly Mortgage Payment

Private mortgage insurance (PMI) is typically required for homeowners who put less than 20% down toward their home loan. In general, private mortgage insurance (PMI) is 0.5 – 1.5% of the total loan amount and is tacked onto the monthly mortgage payment. It can easily add a few hundred dollars to your mortgage payment every […]

How to Finance a Fixer-Upper with an FHA 203(k) Home Loan

Buying a fixer-upper can be a fast way to get into a great home that is selling below market value and build home equity fast.  But buying a home that needs a lot of repairs and remodeling can also be a money pit with whole lot of stress. If you want to dive into a […]

How to Finance Your Next Home Renovation

This past year many homeowners spent a lot more time at home. If you’ve been thinking about remodeling your kitchen, building out a home office, or doing a home renovation to update needed repairs, you’re not alone. The good news is there are great renovation home loan programs that can help you finance your next […]

Refinancing Your Mortgage: Reasons You May Not Know About

Refinancing your mortgage is nothing more than replacing an existing home loan with another. Why refinance? Most homeowners refinance their mortgage because rates have fallen below the interest rate on their current mortgage. Lowering Your Mortgage Rate Each week, Freddie Mac comes out with its weekly mortgage rate survey which reports an average rate culled […]

Impound Accounts Explained

Impound accounts, sometimes referred to as Escrow accounts in other parts of the country, are funds set aside to take care of property taxes and insurance when due. Some loans require impound accounts while others leave them as an option. Let’s take a further look at these accounts and what they accomplish. Impound Accounts Explained […]

Short Term Loan vs. Long Term Loan? Why Your Choice Matters

Deciding on which home loan to take is usually a matter of choosing an interest rate. But for those who have never financed a home before, there are many more things to decide on besides the rate. You might be surprised at the array of loan choices available to you, including short-term loans and long-term […]

FHA Cash Out Refinance: What You Should Know

The FHA home loan program is by far the most popular financing option for first time buyers. Why? First, the low down payment is very attractive. FHA loans only need a down payment of just 3.5% of the sales price of the home. Second, qualifying for an FHA loan is a bit easier as credit […]

FHA Cash Out Refinance Loans in 2020

The Federal Housing Administration’s home loan program is one of the three government-backed loans and is also the most popular. The other two government-backed loans are the VA and USDA programs. The FHA loan is also the favorite for first-time homebuyers. There are several reasons for this popularity but primarily the minimum down payment is […]

Buying a New Home 2020? Here’s What You Need to Know

The New Year is upon us and if you’re going to start the New Year off jumping into the homebuying market. 2019 is just now appearing in our rearview mirror. There were several changes made which will all take effect on January 1, 2020. Many of the changes are more like “tweaks” to existing regulations […]

How to Finance a Mixed-Use Property- It’s Easier Than You Think

In real estate, a mixed-use property is one that contains both residential as well as commercial space within its interior walls. A commercial property is an income producing property and can be as varied as a gift shop to a doctor’s office. To finance a commercial property, a commercial loan is needed. These loans are […]