When will you move or refinance your home?
How long will you have your mortgage. Knowing the answer to this question could save you thousands of dollars on your mortgage.
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Benefits of an FHA Refinance.
Wondering if FHA is right for your refinance? Maybe you tried to refinance on conventional but that didn’t work out. This video explains how FHA might work for you. First we will talk about the benefits of FHA. When you are purchasing on an FHA, it requires 3.5% down as opposed to a conventional mortgage which generally requires 5% down. So a lesser down payment is a benefit of an FHA mortgage. FHA also is much more forgiving on your credit scores which will make FHA the best choice (less expensive and easier approval) if you have credit issues. If [...]
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Why choose an FHA mortgage for your home purchase?
FHA has several benefits that could make it the perfect mortgage for you. This video will help you decided if FHA is right for you. First we will talk about the benefits of FHA. When you are purchasing on an FHA, it requires 3.5% down as opposed to a conventional mortgage which generally requires 5% down. So a lesser down payment is a benefit of an FHA mortgage. FHA also is much more forgiving on your credit scores which will make FHA the best choice (less expensive and easier approval) if you have credit issues. If you have some minor [...]
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Benefits of a conventional purchase mortgage
Conventional financing requires 5% down payment on a purchase and the down payment has to be the borrower’s funds. It cannot be gifted or borrowed. It is best if you have good to excellent credit; that is where conventional shines. With good to excellent credit, no major credit issues and you have at least 5% down; Conventional financing will usually give you your best rates and your best closing costs – the best costs of getting into the mortgage. Also Conventional gets even better if you have more down payment. Once you have 20% down payment you do not have [...]
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Closing Cost Explained
Many folks find closing costs confusing at best and down right frighting at worst. This video will help you understand these costs and help you as you shop for a mortgage. What exactly are closing costs and what and you paying for. Closing costs are things like your appraisal, your title work then there are loan doc prep fees, tax service fees, underwriting fees, processing fees, credit report, and flood certification. I have seen people charge for faxing of documents. Anything that is a cost associated with closing your loan would be considered closing costs. One exception would be if you have [...]
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How to Shop Mortgage Rate
Shopping mortgage rate can be trickier then you might think. To receive the best rate and costs watch this video.
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What? A Down Payment?
How much of a down payment do you need? Watch this video to learn your different down payment options.
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You have to shop both interest rate and closing costs!
There are two major cost to financing a mortgage learn how to shop both interest rate and closing costs. If you don’t shop them correctly uyou could end up paying thousands more then you should on you next mortgage.
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