Real Estate and the New Tax Law -
The IRS recently published this release to address the basic questions regarding the mortgage interest deduction under the new tax law.
Components of a Mortgage Application -
When you are applying for a mortgage the lender needs to verify that investing in you is a sound business decision. This article gives you all the basics a lender will be analyzing before committing to fund your mortgage. Knowing what is needed in the beginning of the process will make the process smoother and less intimidating.
Definitions of the Various Loan Programs -
Before you can decide which loan program is best for you, you need know the structure of each one. Here you have a definition of each as well as a detailed explanation of the more exotic ones. Some have disappeared from the marketplace since the market meltdown but that doesn't prevent them from coming back at a later date. Being familiar with the details of each will prevent you from being surprised should you be presented with one.
Interest only mortgages -
A detailed analysis of how an interest only mortgage works to help you decide if this is a product you want to consider.
FNMA Loan Limits -
FNMA defines what a conforming loan size is. This is based on the average sales price of homes during the past year. You'll find here not only the definition but the full history of the conforming limit over the years.
Mortgage Rate History -
I've maintain a record of mortgage rates in our are since 1985. As we tend to only remember rates going back a few months, it good to see where they've been over the years. If may provide a clue as to where rates may be heading in the future.