Boise Real Estate Info and More
There is considerable paperwork when it comes to the home loan process. There is the application form, which asks for detailed information about you, your employment, and the house you want to purchase. You will also need to provide financial documentation to the lender about your personal finances, earnings, debts, and your monthly [...]
Sun, September 27 2009 » Real Estate » No Comments
Now that you have decided to buy a home or maybe even found the home of your choice it is time to start shopping for a home loan. Now you have to find a mortgage and payment terms that fit into your financial budget.
When looking for a home loan a good place [...]
Fri, September 25 2009 » Real Estate » No Comments
Over the past few months you have been looking at homes trying to find that one that is “just right.” Finally, you think you found it but there is a very important task in front of you – getting a home loan. Getting a home loan is like buying any other product, [...]
Fri, September 18 2009 » Real Estate » No Comments
Not everyone is approved for a home loan and rightly so. We are continuing to see a back lash of foreclosures from loans made to individuals who could not afford them or didn’t understand what they were getting themselves into.
If you find yourself turned down for a home loan, federal law requires the lender to [...]
Mon, September 14 2009 » Real Estate » No Comments
The traditional home equity loan is a one-time lump sum loan, which is usually, assigned a fixed interest rate and is repaid in equal monthly payments over a specified period of time.
A home equity loan can come in handy for almost anything and usually have a lower interest rate compared to credit cards not [...]
Sun, July 12 2009 » Real Estate » No Comments
The best thing you can do to successfully settle your home loan before the lock-in expires is to understand the lender’s requirements and making sure you provide all necessary information in a timely manner. However, if you find yourself in a position where the lock-in period has expired and the loan has not been [...]
Mon, May 25 2009 » Real Estate » No Comments
Increase the likelihood of getting the terms you wanted by learning as much as you can about the lender’s requirements and what they are promising before you apply for a loan. Here are a few simple questions to ask lenders while shopping for a home loan:
Lock-Ins and Fees
Does the lender offer a lock-in of [...]
Sat, May 23 2009 » Real Estate » No Comments
Now what do I do?
If you are unable to settle your home loan within the lock-in period you could very likely lose the interest rate and points that you have locked in. There are a number of reasons this could happen. One of the most likely is delay in processes either [...]
Tue, May 19 2009 » Real Estate » No Comments
The most common time frames for locking in an interest rate or number of points is 30 to 60 days however you may see ones for 7 days or even 120 depending on the lender and the situation. In order to get the terms offered by the lender must settle on the home loan [...]
Sun, May 17 2009 » Real Estate » No Comments
Mortgage terms options vary from lender to lender that can affect the interest rate and points that you will be charged. Below are a few examples:
Locked-in Interest Rate – Floating Points. This option is when the lender lets you lock-in the interest rate, while allowing the points to rise or fall due to [...]
Fri, May 15 2009 » Real Estate » No Comments
