Buying a home is one of the biggest financial decisions you’ll make, and securing the right mortgage is a crucial step in that process. Whether you’re a first-time homebuyer or looking to refinance, understanding how mortgages work and the steps to get pre-approved can save you time, money, and stress. In this step-by-step guide, we’ll […]
Category Archives: Mortgages
What to do if the appraisal comes in low!
If you’re planning to buy a new home with a mortgage, one of the most important steps in the process is the appraisal. The appraisal determines the value of the home and ensures that the lender is not lending more money than the property is worth. However, sometimes the appraisal can come in below the […]
How Will the New Flood Insurance Bill Impact You?
How Will the New Flood Insurance Bill Impact You? The National Flood Insurance Program, which was created in the late 1960’s to help facilitate more private insurance options, is going to expire on September 30th, 2017. Congress has recently introduced the “21st Century Flood Reform Act” that will allow flood insurance policies to […]
Dos and Don'ts of Getting a Mortgage
Dos and Don’ts of Getting a Mortgage You want to buy a home. Now what? Here are some simple dos and don’ts of getting a mortgage that can help you throughout the home buying process. For more home buying tips you can check out our guide here. And when you’re ready to splash into […]
3% downpayment loans are back! 620 credit scores or above
A new program from Wells Fargo & Co. promises to make it easier for prospective borrowers to apply and qualify for a low downpayment residential loan. Borrowers who use the yourFirst Mortgage program can purchase a home with a downpayment as low as 3 percent, an announcement Thursday indicated. The San Francisco-based company said the […]
Signs Florida Real Estate is on the Mend
From the early- to mid-2000’s Florida was known not only for its hot weather, but also as a hot spot for real estate. Banks were fast and loose with mortgage approval and interest rates were rock bottom. Meanwhile, home ownership was on the rise nationwide and it was entirely centered on America’s southeast peninsula. […]
MI Tax Deductibility is Back!
It’s official! The recent “fiscal cliff” legislation means MI premiums are tax deductible for premiums paid on home mortgages through December 31, 2013, retroactive for 2012 (deductibility was previously allowed to expire on December 31, 2011). This means there’s no interruption in MI tax deductibility through December 31, 2013. With tax deductibility renewed for MI, […]
Buying tips
Buying Tip: when I show property to clients one of the 1st things I look at when we arrive is the roof! In today’s market where insurance in Florida is so hard to obtain and expensive. A newer roof can save you hundreds of dollars a year. If you buy a home with a new […]
Updated mortgage-aid program aims to pick up slack
PHILADELPHIA – April 5, 2012 – After months in the works, HARP 2.0 is available to Fannie Mae and Freddie Mac borrowers who want to refinance but owe more on their mortgages than their houses now are worth. HARP 2.0 – HARP stands for Home Affordable Refinance Program – is being billed as an improvement […]
New rules aim to simplify refinancing for troubled homeowners
If you are a troubled homeowner hoping to refinance, pay attention next Tuesday as details come out on a new federal program that could make it easier starting in late December or early in 2012. In the meantime, be sure you keep up with your mortgage payments so that you can qualify for the new […]