mortgage and lending
Closing Costs
There are fees and expenses associated with mortgages that must be paid by the closing date for closing costs, and pre-paid items, in addition to the down payment. These amounts can vary according to the type of loan, mortgage company, customary practices of the area, Continue Reading
Points can make the difference
Points can help with affordability used as a temporary or permanent buydown of the rate or to pay the buyers' closing costs. Continue Reading
Getting Comfortable with Mortgage Rates
The biggest shock to homebuyers is the soaring mortgage rates of 2022 that doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues. As of February 23, 2023, the 30-year fixed rate mortgage was Continue Reading
Did you know this about your credit?
Credit scores are used to assess risk and determine whether a borrower is approved or declined for a mortgage, credit card or some other type of credit. The score is a numerical value ranging from a low of zero to a high of 850 or 900 depending on the credit Continue Reading
Your Home May Have Added Marketability
Each of these loans are assumable at your current rate to owner-occupant buyers and can make your home more marketable, possibly, adding value. Continue Reading