Written By: Mike Laquerre Quite often home buyers are unaware or confused by the term “closing costs”. Their entire focus has been on their down payment in most cases. This is especially true for first time home buyers. What becomes included as closing costs for their particular transaction may vary. However, below are some common […]
Mortgage Quick Tip: Understanding Loans
Written By: Mike Laquerre Credit: In today’s real estate market, your credit doesn’t have to be the world’s best in order to secure a mortgage. Many lending institutions will provide a mortgage to applicants with a minimum 620 credit score. It’s always a good idea to get a snapshot of your credit situation before you […]
Explanation of PITI By: Elizabeth Porter In a previous article, we explained the difference between closing costs and escrows. In this article we will explain another term frequently heard, PITI. PITI is the abbreviation for: Principal, interest, taxes and insurance. PITI encompasses the entire monthly mortgage payment amount borrowers putting less than 20% down can […]
By: Elizabeth Porter Principal and interest, taxes and insurance, closing costs and pre-paids. These are common terms used when discussing mortgages. Once you understand all the parts and pieces that make up your monthly payment, wrapping your mind around it becomes fairly easy. The goal of this article is to help you better understand […]
By: FBC Mortgage – Team J&J THE 12 MORTGAGE DO’S AND DONT’S So you found your dream home and have secured a mortgage pre-approval. Congratulations! You are nearing the finish line of becoming a homeowner. It’s so exciting right? Proceed with caution, that approved status can slip away with just a few wrong moves. Don’t […]
By: Team J&J-FBC Mortgage LLC Did you know? HUD (U.S. Department of Housing & Urban Development) has made several announcements regarding upcoming changes to FHA financing starting April 1, 2012. Below are a few highlights and key dates for you to know and how these changes could impact you getting a loan.
Will rates stay low? by Carla Hill While the Federal Reserve has promised to keep rates “low” until 2013, it is clear to many experts that the current historical lows we are experiencing will not last.