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Mortgage Info

You are here: Home / Archives for Real Estate Information / Mortgage Info

Home Affordable Refinance Program (HARP) Benefits For The Florida Area

September 2, 2016 //  by Sonny Solomon

HARP is a home refinance program through Making Home Affordable (MHA) by the Departments of the Treasury and Housing and Urban Development (HUD). It was created to help homeowners current on their mortgage but who can not refinance since the market value of their real estate has reduced below the balance of their mortgage. Home Affordable Refinance Program (HARP) benefits for the Florida area is …

Category: Mortgage InfoTag: HARP, Mortgage Program, Mortgages, Refinance

Florida FHA Mortgage Guidance

April 15, 2016 //  by Sonny Solomon

FHA is a mortgage where private mortgage insurance is provided with federal funding. Most major mortgage companies offer the program. Although the program is most often utilized by new home buyers, it is not restricted to them. This blog provides Florida FHA Mortgage Guidance and pre-approval recommendations to help you determine if it is a mortgage that you should go with. Advantages Of FHA …

Category: Mortgage InfoTag: FHA, Florida, pre-approval

Importance of Using Florida Mortgage Loan Experts

March 25, 2016 //  by Sonny Solomon

Obtaining financing for real estate can be a difficult process because of the different financing programs, the paperwork required, and the review process. Getting help from local Florida mortgage loan experts may eliminate some of the confusion. In this blog are details on the benefits of using Florida loan experts. Benefits of Florida Mortgage Loan Experts Florida Mortgage Options Florida …

Category: Mortgage Info

An Overview Of Commonly Used Mortgage Lingo

March 11, 2016 //  by Sonny Solomon

Exploring the home loan process may be confusing, especially with a lot of industry-related lingo. Becoming familiar with commonly used mortgage lingo may facilitate the process. In this blog you will find an overview of commonly used mortgage lingo. Commonly Used Mortgage Lingo Pre-approval A pre-approval is a letter provided by a lender detailing the home price and type of loan that a person …

Category: Mortgage InfoTag: mortgage

Updated FHA Mortgage Limits For Florida

February 19, 2016 //  by Sonny Solomon

FHA adjusts their mortgage limits each year. Buyers must be aware of what they are and how they may change. The great news is, in many areas, the loan limits have improved to reflect increasing home prices. Here is some important information on updated FHA mortgage limits for Florida. An Explanation of FHA Mortgage Limits Mortgage limits are the maximum allowed mortgage amounts for an FHA …

Category: Market Updates, Mortgage InfoTag: mortgage, FHA

Common Lender Closing Charges In Florida

November 19, 2015 //  by Sonny Solomon

When you obtain a loan for a real estate purchase, you will be faced with a variety of charges associated with the loan. These are normally referred to as closing costs, but there are actually varying types of fees. This article covers common lender closing charges in Florida. Lender Closing Charges PointsPoints are a method for buyers to obtain a lower mortgage rate. It entails buying down the …

Category: Mortgage InfoTag: Florida, closing charges, mortgage, loan

PMI Elimination For Conventional Mortgages

October 29, 2015 //  by Sonny Solomon

PMI is typically charged on normal conventional mortgages with low down payments. The amount is charged each month and included in the mortgage payment. PMI elimination for conventional mortgages will lower your payment by a decent amount, so it is useful to become educated on how PMI works and when it can be eliminated. Below is an overview. Lowering The Home loan When you first close on a home …

Category: Mortgage InfoTag: PMI, Conventional Mortgages

New Construction Loans And What You Should Know | Florida New Construction

September 22, 2015 //  by Sonny Solomon

If you are buying a house directly from a builder, you can usually avoid the need for a special construction loan. Builders often cover the building stage and allow you to obtain a typical loan when construction is finalized. Even though this makes your loan process simpler, there are a few unique aspects of the loan process. This blog on new construction loans and what you should know provides …

Category: Mortgage InfoTag: new construction, Florida, loan

Criteria Updates For FHA Home Loans Effective September 15, 2015 | Florida FHA Home Loans

September 8, 2015 //  by Sonny Solomon

One of the most used types of home loans is FHA. Home buyers must stay up to date on the criteria updates for FHA home loans effective September 15, 2015. The following is a summary of those updates. Employment History Requirements Frequent job moves or gaps in employment status are scrutinized. If you have changed employment more than 3 times over the past year, then you must furnish …

Category: Market Updates, Mortgage InfoTag: Florida, home loans, FHA

HomePath Renovation Home Loans

July 24, 2015 //  by Sonny Solomon

HomePath renovation home loans enable mortgages to be obtained on a property that otherwise may not be approved for financing. The expense of renovations may be rolled into the mortgage principal, making the purchase more affordable. The following is useful information on HomePath renovation home loans. Qualified Listings HomePath home loans strictly apply to homes owned by Fannie Mae. Lenders …

Category: Mortgage InfoTag: Florida, HomePath, Renovation, Home Loans

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