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What You See Isn’t Always What You Get in interest rates
Guest Column from Justin McHood. Is that interest rate you just saw on that advertisement too good to be true? Have you recently seen an advertisement recently that caught your eye by saying something...
View ArticleMortgage insurance: Do I need it? What is PMI? Do FHA loans have PMI?
The idea behind mortgage insurance is relatively simple: an insurance entity agrees to insure against default on a loan in exchange for premium payments. The insuring entity may be a “private”...
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PITI – Knowing What It Means Can Save You Money On Your Mortgage
There is more to saving money on your mortgage payment each month than first meets the eye. Many times when I talk with people about some of the best ways to save money on their mortgage, 99% of the...
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Can you use the $8,000 first-time home buyer tax credit for your down payment?
Note: This is something that has not yet happened, but may soon happen. I originally posted this information about the 8000 tax credit being used as a down payment on my main site, and thought it was...
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Can the $8000 tax credit be used for down payment assistance and closing...
One of the most common questions that I have had in the last few weeks is “I heard that you can now use the 8000 tax credit for your down payment, is this true?” And my official answer to that...
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Neighborhood Stabilization Program: Free money available and 1% down FHA loan
There is a new program that many people have started calling the 1% down payment program. While it is true that if you qualify for the program, you can get an FHA loan with putting only 1% down, there...
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FHA 203k Streamline vs FHA 203k “Regular” Program, what is the difference?
When thinking about buying a home that is in need of a few repairs, there are a small handful of options available. The most popular ones include the Fannie Mae HomePath Renovation loan (for homes...
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You Can’t Refinance: Can You Still Save Money On Your Mortgage?
Many people are stuck in their current mortgage. They can’t refinance for any number of reasons. Some of the most common reasons that people are “stuck” in their current mortgage include: Some are...
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Vets: Be Careful Who You Take Mortgage Advice From
I’ve seen a lot of tips by so-called mortgage industry experts giving Vets advice on how to buy a house. So I’m here to set the record straight. Tip #1: The number one tip for a vet buying a house is...
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