Many people talk to a lender, get a preapproval and think it's valid for several months. In reality, until you have written a purchase agreement and locked in your interest...Read More
In the last two weeks mortgage interest rates have increased by almost a quarter point. We have been expecting rates to increase as the Federal Reserve finished buying mortgage backed...Read More
FHA Upfront MIP increases from 1.75% to 2.25% Effective today for all new FHA mortgage files, the upfront mortgage insurance premium increases by one-half percent, from 1.75% to 2.25%. This translates to an...Read More
Credit scores are huge in the mortgage world. They affect your interest rate, mortgage program and even your chances of underwriting approval. They can also affect your homeowners insurance premium...Read More
Don't forget that if you want to qualify for the first time homebuyer tax credit of $8000 or move up credit of $6500, you need to have a purchase agreement...Read More
Everyone has heard it's more difficult to get a mortgage approval now than it was a couple years ago. But very few are talking about keeping your mortgage approval! Once...Read More
Dakota County has a new bond program that also offers down payment assistance. The interest rate is 4.99% and there is up to $10,000 available in down payment assistance. The...Read More
Back in January I mentioned that there are going to be some significant changes on FHA mortgages. The first one that is going to happen is the increase of the...Read More
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