Escrow accounts: what’s the deal?
Originally published on October 22, 2010
Does your escrow account ever cross your mind? Probably not. But forgetting to monitor it can lead to lost money and a big headache.
Read More →Mortgage scam: equity stripping
Originally published on June 13, 2011
The equity stripping mortgage scam could leave you with a hefty mortgage balance — but no place to live.
Read More →FHA-backed loans make sense; it’s Congress’ whims that are nonsensical
Does your credit score fall below the 640 to 650 range? If so, good luck getting a home mortgage or refinance through traditional lending channels. Since the housing market crashed in 2008, lenders have tightened their belts and turned away borrowers who have less-than-perfect credit scores or low downpayments. Luckily for you, if you’re looking to buy or refi, the local bank isn’t your last resort for a home loan.
Read More →7 mortgage interest deduction myths
Originally published on February 16, 2011
Think losing the mortgage interest deduction would be no big deal? We bust seven myths to show why the cost is bigger than you think.
Read More →7 tips for a profitable home closing
Originally published on February 10, 2010
Be sure you’re walking away with all the money you’re entitled to from the sale of your home.
Read More →5 tips for deciphering your home loan’s Good-faith Estimate
Originally published on April 9, 2010
Knowing how to read your good-faith estimate can help you save money on your home loan.
Read More →Quick tips for getting started on your home purchase
Supreme Lending Mortgage Company
Contact: 334-714-8958 or angie.mckinney@supremelending.com
Buying a home can be a complex process, but it doesn’t have to be. With a little preparation, you can save a lot of time and hassle by having all of your documents ready when your mortgage professional needs them. Here’s a list of things you will need to have on hand.
Read More →Life after bankruptcy
Supreme Lending Mortgage Company
Contact: 334-714-8958 or angie.mckinney@supremelending.com
Bankruptcy is an uncomfortable subject for a variety of reasons. The most obvious is the potential havoc it can wreak on your finances. Running a close second is the negative stigma which is often attached to the process. Here are some tips to help you survive the bankruptcy process and also help you rebuild your credit in the future.
Read More →What you must know about home appraisals
Originally published on March 12, 2010
Understanding how appraisals work will help you achieve a quick and profitable refinance or sale.
Read More →4 tips to determine how much mortgage you can afford
Originally published on March 11, 2010
By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.
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If you are wondering about things such as the meaning of contingencies, material facts, required property disclosures, and the difference between an appraisal and market value, then these Frequently Asked Questions are for you.
Read More →A key part of the marketing plan is setting the list price. If a home is priced too low, you won’t benefit from the optimal profit. If a home is priced too high, potential buyers may be scared away. To determine the best asking price review the cost of recently sold homes, evaluate the competition and study marketplace trends.
Read More →Your chances of obtaining a mortgage really depend on all the information that will be contained in the credit report. So, it’s a good idea to get your credit report, before you apply for a mortgage, and correct errors. If there are any inaccuracies you don’t know about, this could cost you thousands of dollars in extra interest or even cause a denial of credit.
Read More →Private mortgage insurance, or PMI, insures the lender against a default. It is a special type of loan insurance that many lenders require borrowers to purchase if the borrower’s down payment is less than 20 percent of the home’s purchase price.
Read More →The APR is the actual yearly interest rate paid by the borrower, figuring in the points charged to initiate the loan and other costs.
Read More →A mortgage interest rate is the sum, expressed as a percentage, charged by the lender for making a loan. Some lenders are willing to negotiate on both the loan interest rate and the number of discount points.
Read More →Because all cash buyers sidestep the time-consuming loan qualification process, the deal can close very quickly. The primary advantage of buying a home with all cash is completely avoiding mortgage interest. Buyers also save money that would be spent on loan origination fees, required appraisal , some closing costs and various other charges imposed by the lender.
Read More →The eye of an appraiser
REALTOR® Associate
Contact: (334) 333-1609 or michelle@c21keyrealty.com
An appraisal can make or break a sale, so make sure the appraiser is reputable and experienced. Getting an appraisal can help you also to set the price of your house if you are looking to sell. Remember, an appraiser looks through the eyes of a buyer and what the average buyer is looking for in a new home.
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