CapWest Mortgage Review

CapWest Mortgage

If you have been thinking about purchasing a home, securing an affordable interest rate on your mortgage will ensure that you don’t pay too much for your property over time. Rates are at an all time low and doing business with a reliable company, like CapWest Mortgage, can help you obtain a mortgage that meets […]

Published or Updated: March 6, 2013

Real Estate Lingo 101: What is Escrow?

Escrow

If you have ever bought or sold a house, chances are you’ve heard the term “in escrow.” What exactly is escrow and does the term apply solely to real estate transaction? Though escrow is most commonly thought of in terms of property transfers, it can pretty much be used in the exchange of any goods […]

Published or Updated: March 16, 2013

What Rising Down Payments Mean for You

Down Payment

Since the housing bust, banks have increased their demanded down payments on home loans. One study found that the average down payment has risen to 22% on conventional mortgage purchases. The Obama administration called for a gradual rise to a 10% minimum down payment on conventional mortgage loans. What does all of this say about the […]

Published or Updated: March 20, 2013

Do You Qualify for an FHA Streamline Refinance?

FHA Logo

Every year, the Federal Housing Authority (FHA) insures the mortgages of qualifying borrowers. The FHA provides lenders with an additional insurance that, should the borrower default on the loan, the FHA will pick up the tab on the outstanding balance. Benefits of an FHA Loan FHA loans come with a host of benefits for borrowers. […]

Published or Updated: April 5, 2013

What is Debt to Income Ratio?

Debt to Income

Photo: Images_of_Money A debt-to-income ratio, otherwise known as DTI, is the percentage of a consumer’s monthly gross income that goes toward paying debt. In simple terms, a consumer’s DTI is calculated by dividing the amount of monthly debt payments by gross monthly income. The DTI ratio is extremely important when it comes to qualifying for a […]

Published or Updated: April 4, 2013

Current Wells Fargo Mortgage Rates

Wells Fargo

One day, in the not-so-distant future, I plan to become a homeowner.  Where that home is and how much it costs is anyone’s best guess but you can bet I’ll spend hundreds of hours researching the best mortgage rates available before I commit to anything. The first bank I will be checking is Wells Fargo.  […]

Published or Updated: February 1, 2012

Thinking of Refinancing? Better Read This First

With mortgage rates at historic lows, we’ve been looking into refinancing our home loan. We have 24 years left on a 30-year fixed rate mortgage at 5.625%. I called Wells Fargo and for what’s called a super conforming loan, we can refinance down to 5% for 30 years. So should I refinance or not? The […]

Published or Updated: February 16, 2013

The DoughRoller Weekly RoundUp (Bank of America Mortgage Forgiveness Edition)

Bank of America

In the first act of what appears to be a bailout for the American public, Bank of America announced that if you have a mortgage 20% greater than the value of your home, you will be entitled to a forgiveness program that can reduce your principal loan amount by up to 30%.  The program works […]

Published or Updated: May 23, 2011

HUD Launches Simplified Good Faith Estimate and HUD-1 Forms

GFE-1

Effective January 1, 2010, HUD regulations went into effect requiring lenders to use new Good Faith Estimate and HUD-1 forms in real estate transactions. As a real estate investor and home owner, I’ve had to read through my share of these forms, and they were long over due for an overhaul. The new forms are […]

Published or Updated: April 16, 2014