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Kicking Off 2023 – Is It a Good Time to Buy?
The lights are all down off the house and the tree and decorations are put away until next year. As the New Year’s Eve celebrations fade to memory and attentions turn to title games and the coming Spring, several families find themselves wanting or needing to move to a new home. Still, the signals coming…
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Estimated Payment Info – What do “PITI” & “PITIA” Mean?
When you talk to a lender about a mortgage, plenty of acronyms are thrown around and it can be challenging to keep up. If you don’t work in the industry (and sometimes if you do) it can seem impossibly vague like trying to communicate in a foreign language. When you are trying to get a…
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What Is An Escrow Account?
Okay, I will readily admit … no one gets excited about escrow accounts, but having a working knowledge about what an escrow account is can be VERY helpful when you are working with mortgage lenders and realtors. Escrow accounts are an instrument that can be used in several different ways and situations. For our purposes,…
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Homeowner’s Insurance, PMI, Upfront Premiums and Funding Fees – What You Need To Know
My client looked at me with an exacerbated expression that let me know I had some explaining to do.. “So wait, that’s not my homeowner’s insurance or PMI? Well, what is it then”?!? I get it. With all of the different programs and various fees and insurance involved in a mortgage transaction, most consumers have…
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FED Set to Increase Overnight Rate Again- How Will This Affect Mortgage Rates?
If you’re currently shopping around for a mortgage, you’ve no doubt noticed the Federal Reserve increased its key interest rate again recently. It is widely expected to execute another (possibly even more significant increase) at its September 20-21 meeting. This guide on what FED rate increases mean for mortgage rates will help you understand how…
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Mortgage Credit Scores
The bulk of the questions I receive from clients revolve around credit scores. There are several questions I hear regularly. How will pulling my credit affect my score? What are the minimum score requirements? Which bureaus do you check? Why do your scores not match what I see online? and What can I do to…
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This is a Great 1st Step.
I have always believed that if you are having a hard time making up your mind, you probably do not have the information you need yet. Usually, when all of the needed information is in front of you, the decision that is best for you becomes obvious. Arming you with the information you need to…
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Mortgage Info in Small Bites 