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Recent Articles

Jul
10
2014
What's the Difference Between Government and Conventional Loans?
What's the difference between conventional and government loans? The main answer is simple, but the program disparities can be radical. In short, a conventional loan is not insured by the government, and a government loan is insured by the government. Both types of loans have...
Jun
27
2014
I Submitted My Mortgage Application, Now What?
Mostly, the answer is: wait. Once you have completed your mortgage application, it will be processed by the loan underwriting department. Your application will be thoroughly reviewed by underwriters in order to assess whether or not you qualify for the loan. This process can take up to...
Jun
19
2014
How Mortgage Borrowers May Benefit from Rapid Rescoring
Credit scores are one of the biggest factors contributing to the mortgage interest rate you receive and loan types for which you can qualify. When you apply for a loan, lenders will check your credit scores by pulling credit reports from the three central credit bureaus: TransUnion,...
Jun
17
2014
What is Mortgage Escrow?
If you own a home or are trying to own a home, you’ve probably heard the term “escrow” thrown around. So what is it? Let’s delve right in: What is Escrow? Escrow is an account that lets a borrower gradually accumulate money for property taxes and...
Jun
06
2014
What are Lender Credit Overlays?
If you have been shopping around for a mortgage, you may have noticed that different lenders will give you different quotes and have different requirements.  This is due to the fact that lenders have different thresholds for risk depending on past experiences and current...
May
30
2014
Spelling Out Commonly Confusing Mortgage Acronyms
When you’re applying for a mortgage, there are so many terms that you’ll hear being thrown around in your lender’s office, and many can be confusing. We’ll try to shed some light on some of these mortgage acronyms: GFE GFE stands for Good Faith...
May
30
2014
What is Mortgage APR?
When you are looking for a mortgage, your lender is required to inform you of the APR and the interest rate.  Your APR is a crucial factor regarding what loan is the best loan for you. What is APR? APR stands for Annual Percentage Rate, which is the number used to compare...
May
22
2014
How To Minimize Closing Costs
Closing costs are fees associated with mortgage acquisition, and can be anything from title insurance to origination fees to appraisal fees. They may come as a surprise for borrowers who thought their only financing expense would be an initial down payment and then some interest...
May
21
2014
Why You Should Get Pre-Approved
In the last few years, there has been a shift in the housing market.  You used to be able to look at houses, make an offer, and then head to the bank to obtain a loan.  If you didn’t qualify for that loan, you just simply walked away from the house.  Now, you may not even...
May
21
2014
How To Protect Your Credit Score During a Move
If you’re about to move, you may need to consider is how your credit score is going to fare during the relocation process.  We have some tips regarding how to protect your credit score during the transition. Inform Your Creditors The first step you should take...
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