All posts categorized under ‘Financing’

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PMI Details

Posted on February 19th, 2010 by Richard. Categories: Financing.

PMI, or Private Mortgage Insurance, is a fact of life these days if a buyer wants or needs a mortgage to purchase a home that is greater than 80% of the purchase price. PMI insures the lender for the amount over 80% in case there is a default. Without this coverage, lenders would be hesitant to give a mortgage to anyone with a lower equity position. PMI simply reduces the lender’s risk.

A PMI pemium is

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Steady Rates

Posted on January 25th, 2010 by Richard. Categories: Financing.

I’ve tracked mortgage rates from lenders for years, always to keep my knowledge current on the financing end of things. Just about every day, I receive rate updates from several different lenders. In years past I remember mortgage rates that were a LOT different than now-a-days. More than double what they are now. But mortgage rates lately have been steady for quite a while now at around the 5% level for fixed rate/30 year conventional mortgage loans. These are loans with no discount points

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Lenders Have No Money?

Posted on June 16th, 2009 by Richard. Categories: Financing.

There are still some who believe that the real estate market is dead, the financial world is in shambles and that mortgage lenders have no money to lend. Let’s just STOP right there. The truth is there is a glut of money out there from investors to loan. If you want a loan to buy a home, are employed and have decent credit scores, there is no problem at

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Opening Doors

Posted on May 21st, 2009 by Richard. Categories: Financing, For Home Buyers.

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I would think most people have heard at least something about the incentives available for first-time home buyers this year. Possibly though some don’t realize that anyone who has not owned a home for the last three years also qualifies.

The federal government is trying to stimulate housing market activity which has slowed over the last couple years. Simply put, if you qualify as a first-time home buyer, and purchase a home