What Do Appraisers Look For When Determining A Property’s Value?
There is a formula for how an appraiser determines the market value of a house, and it has nothing to do with the tax assessment.
Understanding the Funding Fee
Posted in: FHA, Purchase, Refinance, USDA/RD, VA Tags: Rural Development/USDA
“Why is my mortgage larger than my loan amount?” Government loans exchange part or all of the monthly mortgage insurance premium for a Funding Fee – a one time, paid at closing, usually financed, insurance premium. There’s a good reason for this.
The VA 100% Refinance
If you’re an eligible Veteran, a VA refinance up to 100% of your home’s value may be a great money saver.
Top 5 Market Factors That Affect Mortgage Rates
Posted in: Loan Process, Purchase, Refinance, Truth in Lending
There are many factors that affect mortgage rates each and every day. This is a description of the 5 most influential in the short run.
When should I refinance my mortgage?
The rule of thumb years ago was to only refinance if you could lower your mortgage interest rate by at least two percent. This was a simple way to analyze the refinance, allowing customers to weigh the rough costs of refinancing. But there are a number of reasons to refinance that have little to do [...]