Amazing Rates?
Crown Financial in Gainesville is offering loans at 4.375% for a 30 year conventional fixed mortgage… if you are looking for a loan you might want to check them out.
Does Paying Points on Your Loan Make Sense?
There are a LOT of choices to make when you shop for a home loan. one of the more complicated ones is whether it is worth it to pay points to “buy down” your loan. All your loan decisions are about paying as little as you can for the loan that fits your needs best. That it the case with paying for discount points too.
Holiday Shopping Could Affect Your Credit Score
If you are buying real estate in the next 6 months and you want to get a loan you should watch this video because you can hurt your credit scores if you aren’t careful.
Toss Your Credit Score a Lifeline!
FICO has a new website where you can get advise about how to improve your scores and how they affect the quality and types of loans you are offered.
The website has a great tool to show you how your APR is affected by your credit scores, how your credit cards offers change, and calculators for loan costs.
Changes to Condo Financing
FHA is now introducing a new program for qualifying condos for FHA loans called DELRAP. This could reduce the hassles condo owners are experiencing when trying to sell by making it easier for buyers to get a loan.
DELRAP stands for Direct Endorsement Lender Review and Approval Process. As of October first DELRAP will be the (primary) way that condominiums will be approved for FHA. It may no longer take months for the FHA to review paperwork on a condo association in order to establish it on the “FHA Approved” list for lending.