How much cash are you going to need at closing? What account are you going to pull these funds from? After you have met with your Mortgage Planner and you are trying to decide how to structure your offer to the seller, consider the option of having the seller contribute towards closing/prepaids.
If the industry is [...]
Countrywide Financial is the nation’s largest mortgage lender. As of Friday, Countrywide was telling brokers to stop offering the option of no-money down.
“Please get in any deals over 95 LTV (loan-to-value) today!” Countrywide said late on Friday in an urgent e-mail to brokers. “Countrywide BC will no longer be offering any 100 LTV products as [...]
The day you close on your new home does not need to be full of chaos or surprises. You need to understand very early on in the home loan process how much money it is going to take from you to close the deal. The funds required to close is disclosed to the buyer from [...]
Hey Eddie, should you pay any principle on your mortgage? There correct answer is not the same for everyone. For most Americans, the principle reduction of their mortgage is the only forced form of savings they have. Paying towards principle seems like a good idea and watching the mortgage balance decrease makes people happy. The [...]
Risk is the term used to describe the potential negative impact to something of value that might occur based on some future event. The 30 year fixed-rate mortgage has very little risk. You know with 100% certainty, that your principle and interest will remain constant for the next 360 months. Some borrowers who plan to [...]
