Author Archives: admin

If you are 62 years of age or older and whether you’ve made or lost money in the stock market and you find yourself struggling financially or not, you may want to consider a reverse mortgage. With a reverse mortgage, … Continue reading →

Having coffee with two realtors yesterday and the question came up about credit scores needed for home buyers. Instead of me blurting out the answering, I ask them what they thought the minimum credit score that was needed. Their answers … Continue reading →

Mortgage closing costs are what you pay to close your loan application. This subject can get rather in depth, so what I’ll do is, over the next few days, post updates explaining the different fees and costs to help you … Continue reading →

“When it comes to mortgages, auto lending and credit cards, the higher your score, the lower the interest rate you’re going to pay,” says Barry Paperno, manager of customer service for credit scoring company Fair Isaac, which created the widely … Continue reading →

Mortgage Closing Cost Lender Fees • Lenders Charges ($0 to 850) • Mortgage Broker Fees (1-3%) The Mortgage Network of Ohio Inc typically charges 1 to 3% of the loan amount, for its services. These services include but are not … Continue reading →

Mortgage rates volatility… Can you hedge your decision to lock your interest rate? When we purchased our first home in 1982, my wife and I locked in a 12% rate on a Land Contact and we were thrilled. Back when … Continue reading →

The Federal Housing Administration (FHA), part of United States Department of Housing and Urban Development (HUD), will provide Mortgage Insurance on loans that meet their Credit Guidelines so that Private Lenders can make first mortgage loans to Borrowers. One such … Continue reading →

Over the past months mortgage rates just kept getting lower and lower (down to 3.125% for some 15-year loans). The result of these plummeting interest rates? Nothing. The number of home loan applications for lenders across the industry has not … Continue reading →

Many of your mortgage closing costs go to a third-party for services necessary to complete the transaction. Lenders typically have no control over these fees. • Appraisal ($225 – $450) * The appraisal is required to determine the fair market … Continue reading →