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• Refinance Truth-in-Lending and Good Faith Estimate Explained

  April 4, 2013 at 7:50 pm / Application, Process, Refinance Mortgage

  Thank you again for working with my team and I on your refinance. Your Truth -In-Lending and your Good Faith Estimate tend to cause a lot of confusion. Here are a few items that may help you have a better understanding of these two forms and the numbers they are comunicating. The Truth-in-Lending Statement.  The APR is not your interest rate.  The APR is a calculation adding your interest rate with your closing costs and amortizing that number over the term of the loan. Your interest rate has not changed since your application.  Also, the Amount Financed shown on this form [...]

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  USB to USB Escrow

  February 24, 2012 at 8:04 am / Refinance Mortgage

  How does your escrow work when refinancing your Union Savings Bank to a new Union Savings Bank mortgage.

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  $330 Closing Costs? Wow! How can that be?

  November 14, 2011 at 12:52 pm / Shopping Rate, Shopping Rate

  You’re blown away by the high closing costs of many lenders Watch this Learn’n with Rick video and you’ll see closing costs just don’t have to be that high.

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  Upfront Costs and your mortgage

  May 1, 2011 at 12:41 am / Purchase Mortgage, Refinance Mortgage

  So what should you expect to pay upfront?  You are out shopping for a mortgage and people are telling you different fees and closing costs and all these things and you are trying to decide well okay what is it going to cost me upfront? Basically there are two items you are going to be charged for upfront and lenders will call it two different things.  Generally you will have an Application Fee, which is what we happen to charge.  The Application Fee is charged after you have had time to review your Good Faith Estimate.  Our Application Fee on [...]

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  When should you lock your mortgage rate?

  May 1, 2011 at 12:29 am / Shopping Rate, Shopping Rate

  When is it best for you to lock your mortgage rate when financing a home. This video explains rates what effects them and when you should lock.

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  Why could your mortgage application be denied?

  May 1, 2011 at 12:16 am / Purchase Mortgage, Refinance Mortgage

  Applying for a mortgage can be stressful. You can take some of the stress away by knowing what can cause your mortgage to be turned down.

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  Do you have to Escrow?

  April 30, 2011 at 11:24 pm / Purchase Mortgage, Refinance Mortgage

  Mortgage escrow can be confusing. Learn what mortgage escrow is and how to decide if you should escrow.

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  Can you Refinance even if you have a 2nd?

  April 30, 2011 at 11:21 pm / Refinance Mortgage

  How can you refinance when you have a first and second mortgage. This video explains your options.

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  Should you pay a Prepayment Penalty?

  April 30, 2011 at 11:09 pm / Shopping Rate, Shopping Rate

  Is there ever a time that a prepayment penalty is a good idea. Maybe watch this video to find out.

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