Fannie Mae Offers Incentives for Homebuyers

Fannie Mae Incentives

Fannie Mae just announced new incentives for homebuyers (and realtors) that I thought was worth passing on. Fannie Mae is what’s known as a government-sponsored enterprise (GSE) that adds liquidity to the mortgage market by buying certain home loans. By buying up loans, Fannie Mae puts money back into the mortgage market so banks can […]

Published or Updated: October 19, 2011

Should You Pay Off Your Mortgage Early?

3% Mortgage

Having recently paid off all of our non-mortgage debt, we now confront another financial decision–should we begin to pay off our mortgage early? Admittedly this is a good problem to have. But it does raise an important financial decision. We want to use our money in a way that produces the highest return with the […]

Published or Updated: May 17, 2011

How to Qualify for an FHA Mortgage

My sister recently purchased a home. She was able to get a low mortgage rate and a great deal on the home such that her mortgage payment is less than the rent she was paying. And the home loan was an FHA mortgage. So I thought it would be a good time to cover FHA […]

Published or Updated: March 22, 2012

Where to Find the Best Refinance Mortgage Rates

Quicken Loans

Refinancing your mortgage could be the best decision you’ll ever make.  But in order for the refinance to be beneficial, a lot of homework needs to be done to secure the best refinance rate possible.  Let’s first discuss some of the reasons you may want to refinance your mortgage, then show you where to go, […]

Published or Updated: September 23, 2013

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?


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