There are some changes with FHA annual MIP (Mortgage Insurance Premium) rates that are coming soon.  If you have an FHA loan, expect to obtain an FHA loan, or know someone with an FHA loan, this is information that is worth noting.  If you are looking to purchase a home in 2013, and are curious to know about financing alternatives, please click on the right to contact me.  FHA loans are great loans, but they are not for everyone.  If you have good credit, and are able to come up with a 5% down payment, then you may have other alternatives that could be much better over the ..read more

The short answer - YES! My personal perspective is this;  We buy insurance to cover our cars, our health, our death, our stuff, our wedding rings, even your stamp collection!  The Home Inspection is one of the best insurance policies that relates to the purchase of a new home.  Now, of course, you are not 'buying insurance', but the Home Inspection could turn up ANYTHING!  If the inspector finds something that is a deal killer, just imagine the headache, the time, and the money you have saved yourself by NOT buying that home!  Certainly worth the cost of the inspectio ..read more

Don't let low mortgage rates lure you into a refinancing scam. Take your time and research lenders to find the right deal for you. Use reputable sites to check on the business like Better Business Bureau and you can even check the licensing of your bank and loan officer on the NMLS site. Historically low mortgage rates are making it possible for many homeowners to save big bucks on their home loans. However, homeowners eager to take advantage of low rates and shorter mortgage terms can become targets of refinancing scams. Here are a few red flags that might indicate your refinancing offer i ..read more

Very creative!  I just had to share ..read more

Great article about the idea of buying a home to fix it up, and saving money (theoretically) in the process... I know some people who have tried this.  Some are very successful, while others... well, not-so-much.  The issue that I hear most common is - running out of cash before the projects are done.  So, get accurate estimates and then be sure to have a solid 'cushion' above and beyond. Do you have a success story?  What about a not-so-successful story?  I would love to hear from you ..read more

Here is a good link for anyone that is looking into buying a new home.  Of course, if you have any other questions, or are interested in getting your pre-approval, just call me ..read more

Real Estate Deal Delayed By A Cat This is nuts ..read more

PMI is an insurance policy that protects the lender from paying the costs of foreclosing on a house if the borrower stops paying on their loan. PMI protects the lender, but it is paid for by the homeowner. PMI is required when the loan to value is over 80%. FHA loans have MIP. (Different name - same concept).  MIP applies to all scenarios except for 15 year fixed at 78% or less (Loan-to-Value).  MIP will be paid for a minimum of 60 months (5 years). Each loan scenario should be reviewed carefully, because there can be diff ..read more

I get a lot of questions about this topic... Here is my best explanation; Understanding Odds Days Interest is simple if I start by reminding you that every day you are in your home, with a mortgage, you are paying interest. It is important to understand when and how it is paid. For example, when you make your July 1 payment, you are paying for all of the interest that was charged in June. The interest is paid in arrears. Odd Days Interest is introduced when a mortgage, Purchase OR Refinance, funds on any day other than the 1st. For example; If you close on the purchase of ..read more

I think this article does a great job of explaining the answer... What do you think ..read more