Mortgage Loan Borrowing – Pay $100 Now, Save $10,000? Knowledge about Loan Level Pricing Adjustments ( LLPA ) can show you how paying an extra $100 now may save you $10,000 or more in payments for your mortgage on a $200,000 loan or more than $25,000 on a $500,000 loan. If you are not familiar with an LLPA, you may […]
With an update below. And Zillow hits the skids!. The news cycle blares apocalyptic news every day about the state of the current housing market. FOMO shouts buy now! Let’s check FOMO vs common sense choices. Like every story these days, news programs cycle repetitively through any event like its Armageddon. They throw more and more fear into the anecdotes […]
Home inspections should be a cornerstone of your mortgage and purchase process. Waiving inspections likely requires deep pockets. After all, what could go wrong? Why Hire a Home Inspector? The link provides an in-depth look as to what a home inspection can provide. But a home inspection can only do so much. A number of specific items may go beyond […]
Is it possible that a foreclosure crisis is brewing? In prior posts we noted that forbearance was extended to June 30, 2021. Reports showed that more than 5% of mortgages remained in forbearance after a year. That number recently fell to about 2.5 million still in forbearance as workouts and exits progressed. New entrants into forbearance declined significantly in late […]
If you are a first time buyer with a limited down-payment, FNMA (Fannie Mae) requires a home buyer education course. The course must be completed before a lender can make you a loan using FNMA funds. This also applies to borrowers with low-to-moderate income and to those borrowers without a credit score. Prepare to ante at least $75 for the […]