Mortgage Document Checklist

Mortgage documents....not sure what that means?  Not sure what's being asked of you to provide for your loan application?  The list of documents necessary to process your application is relatively short but it contains specific items that are needed.  And in some cases, you are given very specific directions like provide all pages...including the blank …

Understanding how your Credit Works

Credit scores were developed by Fair Isaac and company (FICO). The models created using FICO take all the detailed information about your credit report and produce your credit score using different weights and factors contained in the FICO scoring models. The purpose of a FICO score is to show how likely you are to become …

The Good Faith Estimate

A good faith estimate (GFE) must be provided by a mortgage lender or broker in the United States to a customer.  The estimate must include an itemized list of fees and costs associated with the loan and must be provided within three business days of applying for a loan.  These mortgage fees, closing costs and …

10 Tips for First Time Homebuyers

1.  Be picky, but don't be unrealistic.  Your first home may need a little work, some paint, carpet and perhaps some other updates.  Remember, this is your first home and the first step in investing in your future. Don't avoid a home because it has bright pink walls or ugly floors.  Do avoid a home …

So…What happend to Mortgage Rates??

As we have learned…The Fed, The Economy and Wall Street are very similar to the weather here in New England, just wait 5 minutes and it will be different. In this case it was a True Nor’ Eastah!! The Fed, which can be a love hate relationship, has a strategy that has been open-ended, it …

National Open House Weekend April 20 and April 21, 2013

Did you know it is National Open House Weekend?  The National Association of Realtors is expecting to sell almost 10% of the current inventory. With lots of homes on the market and great low rates, this spring market is turning out to be fantastic!  This weekend real estate agents from around the area will be …

6 Things to Know About Credit Scores

By Jessica L. Anderson | Kiplinger – Thu, Jul 12, 2012 FICO isn’t the only number in town. The score that counts is the one your lender uses. 1. There is no single number. The compilers of the widely accepted FICO credit score allow lenders to customize their system, so different lenders produce different scores. Plus, each …

Is the Economy Stalling again?

Bill's Bottom Line:  Now is a great time to consider refinancing your current mortgage to avail yourself with extra cash.  By having extra cash, the consumer will continue to spend money on other items thus helping the economy to recover. U.S. economy moving sideways again.  Momentum unlikely to pick up much in third quarter By …

U.S. Mortgage Rates Decline, With 30-Year at a Record-Low 3.56%

Check out this Bloomberg article!  NOW IS THE TIME TO BUY OR REFINANCE!! U.S. mortgage rates dropped, with 30-year loans reaching a record low for a fourth straight week, amid signs of improvement in the housing market. The average rate for a 30-year fixed mortgage fell to 3.56 percent in the week ended today, the …

SELLERS: 5 Musts for Generating Multiple Offers

Selling your home?  Interested in getting multiple offers on your home?  Check out this article from Trulia blogger Tara. As you might have heard by now, multiple offers are the new black. Well - kind of; if your own home is on the market or soon to be, it can seem like you break your …