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If you listen to the news even once in awhile, you’ve probably heard a commentator make reference to interest rates… and how they are helping to stimulate the economy. If the whole topic about interest rates makes you yawn, wake up!! You … Continue reading
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… and Credit Reports Quite often people may know their credit isn’t ‘stellar’, but when thinking about buying a home, they would like to know ahead of time just how bad (or good) it is. . . and often to their surprise, they … Continue reading
Tagged bad credit, buyers, credit, credit repair, credit score, debt, equifax, expirian, finance, free credit reports, free credit score, home loan, interim fincnce, mortgage, pre-approval, pre-qualification, quizzle, quizzle.com, repair loan, trans union, transunion
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Principle and Interest The first item on your house note will be the Principle and Interest (P&I) calculation based on the original amount of your loan. Using a good Mortgage Calculator, simply plug in the current interest rate and the … Continue reading
Tagged amortization, buyers, escrow, fannie mae, FHA, FHA 203k, finance, flood insurance, for sale, freddie mac, home, home loan, homeowners insurance, house note, HUD, insurance, interim fincnce, loan, mortgage, mortgage calculator, mortgage insurance, pmi, pre-approval, pre-qualification, principle and interest, property tax, short sale, st tammany, tax escrow
What is an FHA loan? The word ‘loan’ is a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What the FHA does is insure loans so that lenders can offer mortgage assistance to … Continue reading
Tagged bank repo, buyers, credit score, FHA, finance, for sale, home loan, loan, mortgage, pre-approval, pre-qualification, real estate
What’s the difference??? There are three types of home-sales that require you to be Pre-Approved. REO’s (home foreclosures) Short Sales (sale price is lower than the sellers mortgage payout) ‘Relos’ (homes being sold by a seller’s relocation company) Add to that, ordinary … Continue reading
Tagged bank repo, credit score, foreclosure, home loan, loan, mortgage, pre-approval, pre-qualification, real estate, repos, reposession, short sales