100% Home Financing
Updated Oct. 9, 2013
The Government has a Grade A Deal for home buyers.100% financing with no mortgage insurance. That's right. The USDA does more than just certify beef.. It also sponsors the little-known Rural Housing Loan Programs. If you qualify, you can get a government-insured mortgage on that home you've been eying...

How to buy a Fixer-Upper
Updated Oct. 9, 2013
How to buy a Fixer-UpperFHA 203(k) For Purchases. Real estate agents and home buyers are scrambling to adjust to today's real estate market which is filled with foreclosed homes that have suffered from disrepair and neglect. Many banks that own these foreclosed properties are unwilling to repair them. As a...

The Short Sale-A Unique Selling Proposition for Real Estate Agents
Updated Oct. 9, 2013
A Short SaleA Unique Selling Proposition for Real Estate AgentsWhile a short sale may be a last resort for many homeowners facing foreclosure, it also represents a great opportunity for potential home buyers and real estate investors. This article is designed to help answer a few basic questions about the...

Upcoming Fed Meetings could impact Rates
Updated Oct. 9, 2013
The Fed is meeting June 22 and 23rd, and its actions could impact home loan rates! Don't Wait. Call me before the Fed acts so we can review your situation and determine if there's anything you need to do.. Call Today for your free Mortgage Review and receive a customized analysis.. Richard Woodward...

An overview of the loan process
Updated Oct. 9, 2013
Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on what's important --...

USDA Program Makes "Rural" Homes More Accessible
Updated Oct. 9, 2013
One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of "no-money-down programs" evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural...

Credit Scoring - Part I: Good Credit Translates into Lower Rates for the Consumer
Updated Oct. 9, 2013
In the 1960s, Fair Isaac Corporation started working on a system lenders could use to evaluate the likelihood of receiving repayment on loans. Prior to that, it was really a matter of trusting an individual to be a "man of his word," so to speak. Fair Isaac sought to take human error out of the equation with a reliable...

Credit Scoring Part II: The Five Factors of Credit Scoring
Updated Oct. 9, 2013
Credit Scoring Part II: The Five Factors of Credit Scoring. There are five factors that comprise the credit score. They are listed below in order of importance, just as an underwriter would look at the score:. Payment History: 35% impact. Paying debt on time and in full has a positive impact. Late payments, judgments...

The Truth About Appraisals
Updated Oct. 9, 2013
Knowing the Guidelines Solves the MysteryThe appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn't always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers,...

Seven Things Your Agent Should Know About Your Mortgage
Updated Oct. 9, 2013
Seven Things Your Agent Should Know About Your Mortgage Approval. While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.. New regulation,...

Quick Tips for Getting Started on Your Refinance
Updated Oct. 9, 2013
Quick Tips for Getting Started on Your RefinanceWhen you refinance your existing mortgage, you are essentially paying off the existing mortgage debt and replacing it with a new loan. Many of the same costs are involved in refinancing a loan as are in first-time financing.. To start with, the lender will need...

Restrictions on Bank Overdraft Fees Kick In
Updated Oct. 24, 2014
It's a whole new ball game. New restrictions on bank overdraft fees mandated by the financial reform bill kicked in Sunday. Depending on how careful you are about keeping track of your bank balance, the new regulations are both good and bad. Banks can no longer charge customers overdraft fees unless you opt...

Buyers under $280,000 will see increased cost for FHA Loans.
Updated Oct. 9, 2013
Buyers under $280,000 will see increased cost for FHA Loans.FHA Announces New Premium Changes : On Tuesday, August 10, 2010, FHA announced that the new implementation date for up-front and annual premium changes will be October 4, 2010.. The upfront premium will decrease to 100 bps and the annual premium will...

rate lock advisory
Updated Oct. 9, 2013
Rate Lock Advisory - Wednesday Nov. 9th . Float unless your are more than 60 days away from closing.. Wednesday's bond market has opened significantly higher due to financial concerns from overseas and sizable stock losses. The stock markets are reacting to the same news, causing them to be in selling mode. The...

Another Dip In Home Values?
Updated Oct. 9, 2013
I am hearing rumors that there will be another housing dip nationwide. Fitch Rating, a company that rates mortgage servicers and other industries, is reporting that lenders are ramping up foreclosure proceedings for seriously delinquent loans. Loans that have not made a payment in over 6 months. Fitch is...

Home Sales are Surging
Updated Oct. 9, 2013
Pending home sales for the month of October climbed 10.4% to 93.3, the highest level of 2011. This also represents a 9.2% increase over October of last year.. Pending home sales is a forward looking indicator that measures housing contract activity. It is based on signed real estate contracts for existing...

Pending home sales for the month of October climbed
Updated Oct. 9, 2013
Pending home sales for the month of October climbed 10.4% to 93.3, the highest level of 2011. This also represents a 9.2% increase over October of last year.. Pending home sales is a forward looking indicator that measures housing contract activity. It is based on signed real estate contracts for existing...

Home Prices Climb As Supplies Drop
Updated Oct. 9, 2013
Home Prices Climb As Supplies Drop<p style="line-height: normal;">Home Inventories Shrink as Prices Rise. <p style="line-height: normal;">Wake-up Call For That 'Buy Low' Opportunity?</p><p style="line-height: normal;"></p></p>If you are new...

New Tool to Improve Your Credit Score
Updated Oct. 24, 2014
Many of my clients come to me after suffering a credit crisis. One of the first things they tell me is that they have no debt and don't want to open any new credit again. I hate to tell you but that is exactly the opposite of how to increase your credit score. You have to use credit in order for it to improve. Not using...

HomeStyle Renovation Mortgages
Updated Sep. 26, 2014
FANNIE MAE HOMESTYLE(R) RENOVATION LOAN. Whether you are looking to purchase a home that needs renovations or repairs or are refinancing an existing mortgage and looking to make home improvements, the Fannie Mae Homestyle(R) Renovation Loan is an excellent home loan choice. Are you looking for a move in ready...