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    • Closing delays are one of the many unintended consequences of recent government regulation.  Mortgage lenders are required to prepare a "Closing Disclosure" and adhere to the timelines illustrated below.  Any last-minute changes to your deal structure could cause delays of up to a week on [...]

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      Here's the scoop: mortgage rates are determined by mortgage bond prices.  Mortgage bonds trade in what's known as a "To Be Announced" (TBA) market.  When you commit to a rate lock, the lender is agreeing to deliver your mortgage to the bond investor within 30 days, 45 days, etc. [...]

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      Mortgage Planning is the process of carefully evaluating your mortgage options and choosing the right mortgage strategies. Your mortgage is most often your single largest debt, and your home is most often your single largest financial investment.  That's why mortgage planning should not be a [...]

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      A non-contingent purchase offer means that your offer to buy a house is not contingent (or conditioned upon) any of the common contingencies such as your ability to obtain financing, your ability to sell your current home or an independent appraisal of your new home. While a non-contingent [...]

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      Here are two questions to ask yourself in order to figure out if refinancing makes sense for you:  1 – Interest & Cost Benefit:  What would be my interest and cost savings if I refinance into a lower interest rate? For example, assume you could save $50 in monthly interest [...]

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      Interest rates on home loans that conform to the Fannie Mae and Freddie Mac guidelines tend to be lower than non-conforming loans.  That’s why it’s good news that the Federal Housing Finance Agency (FHFA) recently announced that the conforming loan limits have increased to $510,400 in [...]

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      Beware! Not all Loan Estimates are created equal. Here are three things you should know about Loan Estimates, where all the closing costs are itemized. #1 - THE RATE QUOTED TO YOU ON PAGE 1 IS NOT LOCKED... UNLESS THE "YES" BOX IS CHECKED! Mortgage rates are determined by [...]

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      "Seller-paid points" are where you pay points to reduce the interest rate on the buyer's mortgage.  One point = 1% of the loan amount paid upfront to the buyer's mortgage lender at the closing, in exchange for a lower interest rate on the buyer's mortgage.Consider a home where the list [...]

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      Many mortgage loan programs today allow homebuyers to use less than a 20% down payment when buying a house.  When you do this, you are often required to pay Private Mortgage Insurance (PMI).  This increases your mortgage payment slightly.  Here are three reasons why PMI is [...]

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      Interest rates on home loans are still relatively low, while home values in many parts of the country have increased.  In this environment, many homeowners are considering a “cash-out” refinance.  This is where you pay off your old mortgage by getting a new mortgage with a higher [...]

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