What Are Mortgage Points?
August 31, 2010 by Erin Schedler · Leave a Comment
Whether you are thinking about refinancing or getting a mortgage for the first time, whether or not to opt for points can be a confusing and sticky decision. Here is a quick explanation of points and some general guidelines about whether or not it is worth paying down points to get a lower interest rate.
What [...]
In Short Supply
August 26, 2010 by Erin Schedler · Leave a Comment
Currently I’m working with a wonderful engaged couple, who is looking to purchase their first home together. We’ve toured a few times but the problem we run into is the lack of inventory.
In this slow market, everyone is anxious and fearful of what is to come. As a result, sellers are not quick to list homes [...]
How does an FHA loan work?
August 11, 2010 by Erin Schedler · Leave a Comment
Since 1934, FHA loans have been helping people achieve the American dream of home-ownership. This type of loan offers better deals for people who may otherwise have trouble getting a desirable mortgage.
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. It has several key components.
Low down payment. FHA [...]
What is a reserve study on a condo?
August 10, 2010 by Erin Schedler · Leave a Comment
When you purchase a condo unit, you own the “walls in”. Other areas of the building (i.e. halls, roof, siding) are considering “common areas” and are funded and maintained by the HOA (homeowner’s association). In addition to the mortgage you’ll pay on the unit, you also pay a monthly HOA fee. What is included in [...]
Fed To Meet Tomorrow, Wednesday August 10th
August 9, 2010 by Erin Schedler · Leave a Comment
See article below. I doubt interest rates will be affected, but the big question is if they plan on increased purchasing of mortgage-backed securities (MBS):
Confronted with a U.S. economy that appears to be decelerating, the Federal Reserve may ratchet up cautionary language but many expect the central bank will refrain from buying more bonds to [...]
