With FHA Mortgage Insurance costs increasing in 2013, home buyers are desperately seeking out alternatives to increase buying power and reduce mortgage payments. The Broadview Mortgage Community Access loan is that alternative. This is a conventional loan program that does require private mortgage insurance (PMI) offered at a special discounted rate. The discounted PMI of the […]
Tag: Mortgage
Homeowners with a FHA insured mortgage may be eligible for a special refinance program that offers reduced cost, and reduced documentation refinancing options. The FHA streamline refinance program allows home owners to reduce their interest rate to current market rates if: At least 6 payments have been made on your current FHA mortgage No late […]
Don’t Rock the Boat! Keep the Mortgage Interest Deduction Many REALTORS® have asked for information on the debate surrounding the mortgage interest deduction that they can share with family, friends and colleagues. REALTORS® and the public alike are urged to share the information in this email with as many people as possible. Background Congress, as […]
Perhaps you have heard already that the FHA will further change its overall look in the coming year. I’ve already started to see Facebook comments about FHA and many of them are just rumors. The truth can be described easily as it applies to the real estate industry: 1) The Annual Mortgage Insurance Premium (MIP) […]
There are several reasons why a 15 year mortgage would be attractive. Of course, you pay off the mortgage in half the time. You get a lower interest rate which is always good. After you pay off your home, you can set aside the extra cash into savings or other investments. But is it right for […]
Categories
Protecting Your Credit Score
U.S. Agency will now Help Protect Your Credit Large credit reporting agencies are now going to have to play within the rules. The Consumer Financial Protection Bureau will begin this fall to supervise the 30 largest credit reporting companies, including Experian, Equifax and TransUnion. What this means to you? Credit reporting agencies will have to report accurate information […]