Mortgage Tips

Updated Limits For FHA Loans In Lexington MA

The Federal Housing Administration (also known as FHA) reviews their loan limits every year. If you are purchasing a house soon and would like to to use an FHA loan, it is useful to be aware of these limits and how they might fluctuate. Below is an … [Read more...]

New Lender Disclosure Documents Beginning In 2015

When applying for a home loan, you receive a series of forms to review. It may be a bit confusing. Many of these documents were produced by various legislation over the years. In some cases, they include similar facts, making the paperwork even more … [Read more...]

Waltham MA FHA Loans Decreased Mortgage Insurance Rates starting January 26, 2015

Some encouraging real estate news for 2015 is that the mortgage insurance rates for FHA loans is dropping by 0.5%. This will truly help people currently looking for a home. In this blog are a few facts on on Waltham MA FHA loans decreased … [Read more...]

Home Affordable Refinance Program (HARP) Details For The Waltham MA Area

HARP is a home refinance program that is part of an effort called Making Home Affordable (MHA) by the Departments of the Treasury and Housing and Urban Development (HUD). It is designed to aid homeowners current on their mortgage but who are having … [Read more...]

Advice On Getting Free Credit Reports Every 12 Months

The Fair Credit Reporting Law grants you the power to obtain a copy of your credit reports each year. The FTC started this rule to protect consumers. The advice on getting free credit reports every 12 months below will help you get … [Read more...]

Waltham MA HomeStyle Renovation Home Loans Overview

Fannie Mae HomeStyle home loans allow borrowers to roll the expense of contract work into the home loan. It can be used for a new home or to refinance an existing loan. It can apply to small or large projects and thus is a great resource for houses … [Read more...]

Mortgage Rate Fluctuations Affect Waltham MA Home Affordability

When you get qualified for a home loan, it is based on a specific recurring payment. The mortgage rate is estimated (as well as other figures such as property taxes and hazard insurance). Mortgage rate fluctuations affect Waltham MA home … [Read more...]

What Is The Qualified Mortgage Rule For Waltham MA Loans

The qualified mortgage rule was issued by the Consumer Financial Protection Bureau in January 2013 as part of the Dodd-Frank Reform Act. It officially takes effect Jan. 10, 2014 and impacts the way lenders must evaluate and verify information from … [Read more...]

An Overview Of Lender Paid Mortgage Insurance For Waltham MA Home Mortgages

Mortgage insurance is generally required when a home buyer puts less than twenty percent down of the value of a property. It protects lenders against loss should a homeowner fall short of paying. Even though it insures the mortgage company, it is … [Read more...]

Waltham MA No Closing Cost Loans Advantages And Disadvantages

No closing cost loans are typically requested by buyers with little funds to bring to closing. The title is somewhat misleading as there are always expenses related to generating loans. The means by which those expenses are recouped by a lender may … [Read more...]