by Amy | Feb 20, 2020 | Mortgage Basics, Mortgage Info
Escrow Impounds (aka Reserves) is the industry term for having the lender collect and house the money to pay your property taxes and homeowner’s insurance when due. The Escrow Impounds account is set up when you start your loan with a certain number of months of...
by Amy | Mar 21, 2019 | Mortgage Basics
The lowest mortgage interest rate was in late 2012, average interest rates for a 30-year fixed-rate mortgage hit 3.31%. Rates for 15-year loans sank below 3%. (Clearly, our recent rates are still quite low, historically speaking.) The highest mortgage interest rate...
by Amy | Jul 7, 2018 | Mortgage Basics
Pre-Approval An evaluation that determines if the borrower qualifies for a home loan and the maximum amount that they are eligible for. Annual Percentage Rate (APR) The cost to the borrower at a yearly rate. APRs include mortgage insurance and the loan origination...
by Amy | Jul 7, 2018 | Mortgage Basics, Mortgage Info
Each Step and Stage takes time. The timing varies depending on the volume flowing through the industry and with each lender and escrow agent during the time of your loan. We will do everything we can to work with the various parties along the way to assure a smooth...
by Amy | Jul 6, 2018 | Mortgage Basics, Mortgage Info
Each Step and Stage takes time. The timing varies depending on the volume flowing through the industry and with each lender and escrow agent during the time of your loan. We will do everything we can to work with the various parties along the way to assure a smooth...
by Amy | Jul 6, 2018 | Mortgage Basics, Mortgage Info
The following provides general information of what may be required for your Loan Application. Everyone’s picture is different. It is best that we have a conversation to review details to determine specific documentation needs for your loan. INCOME If you are a W2...
