The various parts of the country that have always held the highest real estate values are seeing new interest and brisk sales activity. Thanks to multiple factors the jumbo mortgage market will likely make a strong comeback this year and could remain quite stable for the foreseeable future.
Lots of recent reports are pointing to signs that the economy is finally recovering. More homes are being built, more homes are being sold and people are returning back to work. These are all good signs. However, for people that have waited to refinance, the improving economy could mean higher interest rates. Before diving in to any refinance it is always advisable for homeowners to look at the various costs associated with the loan.
Although home inspections are advertised regularly and recommended by mortgage lenders as well as real estate agents, first time home buyers may still be a little unsure about the purpose of the inspection. In a nutshell, the inspection gives the buyers a full view of the home’s condition at the time of purchase. This represents a base line from which the buyers can build their knowledge for future repairs or renovations.
Even with the current strict rules regarding mortgages, it is still possible to buy a home with a small down payment. In some cases it is actually possible to purchase with no down payment. Here is a brief summary of the different mortgages currently available.
VA loans are a great way for qualifying individuals to purchase a home. The ability to finance 100% of the purchase price, along with great interest rates, makes this a terrific benefit for the people who served our country. However, there are some common myths about how the VA home mortgage works. Here are some of the prevalent myths and the facts to prove them wrong.
Taxes seem to find a way in to each and every part of our life. If you have a job, you will pay taxes. If you buy or sell something, you will likely pay sales taxes. If you receive money from investments, you will pay taxes again. And if you own a home, you have property taxes. For many homeowners, an escrow account is used to take care of the property tax issue. However, how does the escrow work?
Welcome to my mortgage blog. My name is Todd Smet and I am a mortgage consultant with Inlanta Mortgage in Madison, WI. As a mortgage bank we can provide loans using our own funds or we can use the loans and guidelines provided by one of our many lenders. Our wide array of lender relationships provides our customers with the best loan programs currently available today, whether it is conventional lending, FHA purchase loans, or VA loans.
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