Simply checking online for today’s posted rate may not lead to your expected outcome due to the many factors that can cause each individual rate and closing cost scenario to fluctuate. We can preach communication, service and education all day long, but it’s our ultimate goal to earn your trust so that you can be [...]
Written by: Mark Madsen |
Las Vegas, Nevada - 702-432-5626
Las Vegas, Nevada - 702-432-5626
Calculating the net benefit of refinancing can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the standpoint of lowering your interest rate. Although there are several reasons to refinance, lowering your mortgage rate to save on interest payments over [...]
Written by: Mark Madsen |
Las Vegas, Nevada - 702-432-5626
Las Vegas, Nevada - 702-432-5626
The difference between APR and actual note rate is very confusing, especially for First-Time Home Buyers who haven’t been through the entire closing process before. When shopping for a new mortgage loan, you may notice an Annual Percentage Rate (APR) advertised next to the note rate. The inclusion of an APR is actually mandated by [...]
Written by: Mark Madsen |
Las Vegas, Nevada - 702-432-5626
Las Vegas, Nevada - 702-432-5626
Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end up getting frustrated or hurt because their expectations were not met. Here are the [...]
Written by: Mark Madsen |
Las Vegas, Nevada - 702-432-5626
Las Vegas, Nevada - 702-432-5626
HUD implemented the new Good Faith Estimate (GFE) for San Jose Mortgage Loans, both Refinance & Purchase transactions for both FHA & Convetional loans. After more than 4 years of discussions with various trade and consumer groups, HUD finally decided to implement it on January 1, 2010. The goal was greater clarity and transparency for [...]
Written by: Shashank Shekhar |
California - 408.905.6261
California - 408.905.6261
Housing and Urban Development (HUD) regulators are always trying to make things better and more transparent for borrowers. This time they have made some major changes in the Good Faith Estimate, a backbone of the mortgage industry. These changes will be taking place January 1, 2010 and are some very major changes that are designed to help consumers compare loans from one lender to another. Very major changes but unfortunately, we still don’t know what all of them are or how they are being interpreted because HUD hasn’t released the final information yet. This is something that will have a direct bearing on your Real Estate transactions in the Eugene/Springfield Oregon area and is supposed to make shopping for a mortgage easier, but will it?
Written by: Fred Chamberlin |
Oregon - 541-342-7576
Oregon - 541-342-7576
While the approval and funding process of a new Las Vegas purchase mortgage has several moving parts, this article should help you put the basic time line in perspective. 1. Loan Application – This is where the loan officer spends a little time over the phone or at the office with a potential borrower discussing [...]
Written by: Mark Madsen |
Las Vegas, Nevada - 702-432-5626
Las Vegas, Nevada - 702-432-5626
In November, HUD announced the “long-anticipated mortgage reforms that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers.” The effect of this change in RESPA and Good Faith Estimates on lenders and consumers after implementation will be quite extensive. Real Estate loans will have significantly different disclosure [...]
Written by: Fred Chamberlin |
Oregon - 541-342-7576
Oregon - 541-342-7576
*This is not an offer to lend. 
