Facts About The $8K Tax Credit Any first time homebuyer who purchase their home after January 1, 2009 and before December 1, 2009 is eligible for the tax credit. In order to be considered a first time homebuyer you must not have owned primary resdience in the past 3 years and the home you are [Read More]

Facts About The $8K Tax Credit Any first time homebuyer who purchase their home after January 1, 2009 and before December 1, 2009 is eligible for the tax credit. In order to be considered a first time homebuyer you must not have owned primary resdience in the past 3 years and the home you are [Read More]

4506-T What is it... A 4506-T is a form that the borrower must sign so that we the broker or the lender can go and request a copy of the tax transcripts which shows exactly how the borrower has filed their past 2 years tax returns. This is basically a precaution that the lenders are taki [Read More]

Good Faith Estimate,  Ethical or Unethical A good faith estimate is a DETAILED breakdown of ALL the costs associated with the closing of your mortgage. It has the broker fees down to taxes and insurance and everything in between. When I give a Good Faith Estimate to my clients I am [Read More]

100% Financing Let's talk about 100% Financing again for those of you that are not familiar with the program. USDA Rural Development has an EXCELLENT program! They will allow you to finance 102% of your mortgage. The best part it's not 102% of the purchase price but 102% of the appraised v [Read More]

USDA vs. FHA vs. Conventional USDA is up to 102% Financing of the APPRAISED Value of the home NOT the purchase price! There is a 2% up front Funding Fee that they charge but even though you are over 80% loan to value they do not charge a monthly mortgage insurance premium (PMI).You can only financ [Read More]

Renting vs. Buying: Now lets talk about renting vs. buying. Renting, you can rent a nice single family 3 bedroom 2 bath home with a 2 car garage for anywhere between $800.00 to $1200.00 a month. Not bad at all only thing is that after 5, 15, 30 years that house is still NOT yours, you ma [Read More]

$8,000 Tax Credit NOW! I'm sure all of you have heard something about the $8,000.00 Tax Credit for first time homebuyers that purchase a home by December 2009. It's called the "American Recovery and Reinvestment Act of 2009 Tax Credit"  Well there is a company that will buy [Read More]

Daily Mortgage News Let's talk about 100% Financing. YES it is still out there and better then ever. USDA is a rural development program set out to help people buy a home. There are income guidelines based on the size of your family and it is only available in Rural areas to help develop commu [Read More]

30-year mortgage rates are creeping up! Don't get me wrong, they are still low and they are still attractive, but they are on the rise. According to Freddie Mac, the average rates on a 30-year mortgage rose up to 4.87% from 4.78% last week; for a 15-year fixed-rate mortgage the rates rose to 4. [Read More]