Should You Refinance? It Depends…

by Brian Mayer on August 22, 2012

Should You Refinance?   A lot of people ask me if they should refinance simply based on what the current interests are however that is only one component of the equation. Goals Here are the two questions I ask up-front that help make things simple. #1. What is your primary reason for refinancing? Often its [...]

{ Comments on this entry are closed }

No More USDA Loans In The Chesapeake Ranch Estates (The Ranch Club)

August 21, 2012

USDA Loans in Chesapeake Ranch Estates   Yes its true, as of October 1, 2012 there will be no more USDA or Rural Development loans in the Chesapeake Ranch Estates in Lusby Maryland. Unfortunately after the most recent census they are no longer considered eligible per the population density. This is really unfortunate as there is an [...]

Read the full article →

Changes to USDA Mortgage Insurance October 1, 1012

August 21, 2012

New USDA Mortgage Insurance   As of October 1, 2012 the annual MI on all USDA loans is increasing from .3% to .4%. This should not be a huge concern as the rate is still relatively low especially compared to FHA which is at 1.25%. On a 200k loan the MI will go from $50 [...]

Read the full article →

Frequently Asked Questions About USDA Loans

August 4, 2012

Most Frequently Asked Questions About USDA Loans   Q. How much money do I need? A. There is no down payment required however there are closing costs and you will need an earnest money deposit. Closing Costs – Are negotiated in the contract. The seller can contribute up to 6% and the lender can provide a credit [...]

Read the full article →

USDA Loan Repairs | USDA Rehab Loan

August 3, 2012

Repairs | Rehab with a USDA Loan?   With the huge increase in short sales and foreclosures, more and more houses are being sold empty or in need of repairs. Sellers may not have the money, sellers in a short sale often see no incentive to do any repairs, and banks selling foreclosures are simply [...]

Read the full article →

USDA Loan Mortgage Payment Calculator

July 24, 2012

USDA Mortgage Payment Calculator   I get asked quite a bit how to calculate the payment for a USDA loan. Because there are only 30 year loans and fixed MI its pretty easy. With this calculator you can not add the up front MI so you must add 2% to the loan amount manually. Add [...]

Read the full article →

Buy A House Using Only $500 Cash!

July 23, 2012

  Can You Really Buy A House With $500 Cash?   Yes and it happens all the time. (I have one settling on 7/26  with NO MONEY!) Using a USDA loan you can buy a house with no down payment. The seller can contribute up to 6% towards closing and you can even roll closing into the [...]

Read the full article →

Common USDA Loan Myths

July 17, 2012

I was talking to a Realtor the other day who was arguing with me that it takes 45 days or longer to close a USDA loan. I tried to explain that it was not true to no avail… So please allow me to dispel a few misconceptions about USDA loans and maybe share with you a tip or [...]

Read the full article →

USDA Loan Closing Costs

April 19, 2012
usda loan closing costs

There are so many different ways to cover the closing costs on a USDA Loan if you are unwillingly paying them there is a lack of effort on someone’s part.

Read the full article →

New FHA Mortgage Insurance Premium After April 2012

March 23, 2012

New FHA Mortgage Insurance Premium   FHA Raising Mortgage Insurance MIP Again… FHA is releasing new mortgage insurance premiums starting in April 9, 2012 and its not looking pretty. Both the up-front and annual / monthly mortgage insurance will increase significantly. This is the 5th increase in as many years for the monthly mortgage insurance [...]

Read the full article →

← Previous Entries