Often, I hear people asking about tricks to boost their credit score. Here’s a simple one: Keep paying down your credit cards so your monthly statements reflect your balance is 20% of the credit limit.
Anybody making a down payment on a home needs to know there are restrictions on how those funds can be obtained, as well as the source of any assets.
Anyone who works in the financial sector has had a client or two who are quick to state how much money they make. Problem is, sometimes that number doesn’t match their tax returns, and the days of stated income are a distant memory. Specifically, when it comes to FHA loans, projected (or hypothetical) income is […]
I hear people say not to refinance a home mortgage unless you lower your rate by at least 1%. This rule of thumb is far too simplified. Why? The fact of relativity, my friend.
We just had a former client leave our office who was ecstatic about the refinancing option we approved her for. Her very words were, “More people should know about this. This is amazing!” Let us explain…
Homes owned by the U.S. Department of Housing and Urban Development (HUD) are now eligible to people, who qualify, at a 50% discount off the list price through the Good Neighbor Next Door Program. Law-enforcement officers, teachers, firefighters and other emergency medical technicians who work full time can reap the benefits of this costs-savings program.
No, it’s a myth. I hear people tell me all the time how they were offered a “no-cost refinance” through their current lender, so they took it without questioning because, hey, after all, it’s no cost. I mean no one else can do that, right? Ever heard the saying, “If it sounds too good to be true…”?
Reason No. 3,982 The Florida Mortgage Firm is a realtor’s best friend.
When preparing a refinance loan or purchase transaction, I often get asked, “Should I escrow my payments?” Many lenders encourage borrowers to escrow their tax and insurance payments with their mortgage payment. The benefits to the lender are that they:
Save Money This Tax Season I bet you did not know this interesting tax-time tidbit: If you pay monthly mortgage insurance with your mortgage payment, it may be tax deductible, saving you money on your income taxes.