Nobody knows when but interest rates will go up. Seriously, nobody knows when. Rates have been at a historical low for months and months. You, your friends, your family, and your co-workers keep reading little articles like this one saying, “refinance now or buy now if you need to because rates are going up.” Still, [...]

If you know golf, you know par. From the dictionary at AudioEnglish.net par is “a state of being essentially equal or equivalent; equally balanced”. In golf it’s essentially zero (no more, no less). In mortgages it is applied to mortgage brokers who have access to “wholesale rates” who pass along those wholesale rates at no [...]

You may have had some advice to “never pay points” or to “watch out for the points” on a mortgage. Chances are if you got that advice it was probably from someone who knows little about mortgage financing. Now that I have your attention …
There are different types of points so saying “points” simply generalizes [...]

FHA has extended the temporary property flipping waiver that allows lenders and the property disposition firms they hire (or with whom they are affiliated) to sell properties on which they have foreclosed without regard to FHA’s 90-day seasoning requirement. The waiver is in effect for loans with purchase agreements signed by the borrower and seller [...]

Although we do not sell to Chase, CITI, Countrywide (Bank of America) or Wells Fargo I have been told by others at my level in the industry who do these mega-lenders will now or soon be charging higher interest on FHA loans to people with lower credit scores. This is called Loan Level Pricing Adjustment [...]

If you have been renting, especially an apartment, you likely are short a key element to home ownership: window treatments. When I was growing up we just said, “curtains”. Of course that included drapes, shears, rods, tie backs … the list.
The Complete Photo Guide to Window Treatments: DIY Draperies, Curtains, Valances, Swags, and Shades
I know [...]

UPDATED UPDATED UPDATED Thursday 5/14/2009 – the entire letter has been rescinded. After thousands of blog posts by excited and misinformed real estate agents HUD has reversed any information which would have been valid as of yesterday (Wednesday 6/13/2009).
Wednesday 5/13/2009
The First Time Home Buyer’s Tax Credit can NOT be used (directly) as a down [...]

Georgia has passed a 3 year tax credit of up to $1800 for all tax payers who purchase a home between June 1, 2009 and December 1, 2009 (final day to close is November 30, 2009).
This tax credit may be used in addition to the Federal First Time Home Buyer’s Tax Credit if the buyer [...]

We know, we hear it all the time: I saw an advertisement for interest rates at 4% for my loan so why are you telling me 4.5% for the same loan? Simple, it’s not the “same loan”. Unfortunately just because one advertiser says they can offer a fixed 30 loan at 4% and the other [...]