Blog: Mortgage Information

Land Contract

Posted on April 4, 2019 - 05:00 AM by Jerry Newman

An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property... Read more

The No-Cost Thirty Year Fixed Rate Mortgage

Posted on February 28, 2019 - 05:00 AM by Jerry Newman

There really is no such thing as a no-cost mortgage loan. There are always costs, such as appraisal fees, escrow fees, title insurance fees, document fees, processing fees, flood certification fees, recording fees, notary fees, tax service fees, wire fees... Read more

Which ARM is the Best Alternative?

Posted on January 24, 2019 - 05:00 AM by Jerry Newman

How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about 1% below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not ha... Read more

The Advantages of Different Types of Mortgage Lenders

Posted on December 20, 2018 - 05:00 AM by Jerry Newman

What kind of lender is best? If you ask a loan officer, “What kind of lender is best?” the answer will be whatever kind of company he works for and he will give you a list of reasons why. If you meet the same loan officer years later, and he ... Read more

WHAT’S A FICO®?

Posted on November 15, 2018 - 05:00 AM by Jerry Newman

What is a FICO® Score? FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is... Read more

Types of Mortgage Lenders

Posted on October 11, 2018 - 05:00 AM by Jerry Newman

Mortgage Bankers Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo loan investors, and others. Any company that does this is conside... Read more

Your Savings and Down Payment

Posted on September 20, 2018 - 01:10 PM by Jerry Newman

Your First Step Toward Buying a Home When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next... Read more

Items You Need When Applying For a Loan

Posted on September 20, 2018 - 01:10 PM by Jerry Newman

Have These Items Ready When You Apply For a Loan It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getti... Read more

FICO® Scores and Your Mortgage

Posted on September 20, 2018 - 01:10 PM by Jerry Newman

Years ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on past payment history. Then things changed. Lenders studied the relationship be... Read more

FICO® Score - a Brief Explanation

Posted on September 20, 2018 - 01:10 PM by Jerry Newman

When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you may not expect is that they seem to be more interested in your FICO® score. “What’s a... Read more

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Blog: Mortgage Information

Land Contract

The No-Cost Thirty Year Fixed Rate Mortgage

Which ARM is the Best Alternative?

The Advantages of Different Types of Mortgage Lenders

WHAT’S A FICO®?

Types of Mortgage Lenders

Your Savings and Down Payment

Items You Need When Applying For a Loan

FICO® Scores and Your Mortgage

FICO® Score - a Brief Explanation

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