Why Is My FICO Score So Important in Getting a Mortgage?
Most lenders rely on a credit score, called a “FICO score” to determine a Borrower’s creditworthiness when applying…
How Much Can I Borrow?
Depending on your annual income, cash reserves, creditworthiness, and the appraised value of the property, you may be…
Use Contingencies To Protect Your Right To Cancel a Sale
Kristen and Ben had been looking for the right property to buy for over six months. They finally…
How Will My Loan Be Handled in Escrow?
Once you have opened escrow and given the escrow officer the details of your purchase, you will next…
Know Before You Owe Disclosure Forms
Under the direction of the Consumer Finance Protection Bureau (CFPB), lenders must give borrowers two important disclosure forms…
Facing a Foreclosure? Consider a Short Sale
Lona Hamilton had been struggling to make her mortgage payments for the last year and a half. She…
How to Use Seller Financing to Your Advantage
Seller financing can be a useful tool to not only the Buyer but also to the seller. With…
How Should I Go About Shopping for a Loan?
Consider banks, savings and loan offices and loan brokers: Find out what types of loans are available and…
Why Your Home Appraisal May Be Lower Than You Think — and What You Can Do About It
With home prices on the rise, it’s easy to assume that property appraisal levels will increase accordingly. But…
Know Before You Owe Disclosure Forms
(Most states require sellers to fill out a disclosure form or disclose material facts about the property. To…
What is PMI insurance?
PMI or Private Mortgage Insurance insures lenders against losses when they have to foreclose and can only sell…
Mortgage Closing Pain Points: What You Can Do?
A recent study by the Consumer Financial Protection Bureau reported the results of a year-long study to identify…
What Is the Best Way to Improve My Credit Score?
While there is no “best” way to improve your credit score, as each of the three main credit…
Why do I need a survey?
While the plat map attached to your preliminary title report will show the boundaries of the property, it…
Can I Modify My Existing Mortgage Instead of Refinancing?
Dear Sandy, I chose an adjustable rate mortgage in 2003, interest only, based on the LIBOR index. The…
What happens to the mortgage if I inherit the property?
If you inherit a property in which there is a mortgage, under the federal law called the Garn-St….
How Do I Get a Copy of My Credit Report?
If you have been denied credit in the past 30 days, you have the right to request a…
I Am a First time Homebuyer. Is There a Special Loan for Me?
Many lenders participate in the Community Home Buyer’s Program, sponsored by Fannie Mae, which is specifically tailored for…