Thanks to Rick Pelleriti, Upfront Mortgage Broker, I am providing a video that explains in simple terms how mortgage rates are calculated. The mortgage rate itself never changes, but the price associated with the rate you choose, does. You may have heard the term "Yield Spread Premium", also known as a rebate. This video should help you understand. … [Read more...]
Purchasing a New Primary Residence
February 23, 2010 By Leave a Comment
If you are looking to buy a second home and wish to keep your previous home as a rental here are your options: Your primary residence must have 30% equity and an appraisal will be ordered to confirm this. A rental survey will also be ordered so that the mortgage payment can be washed out. or Both mortgage payments must be included in qualification. or The new property would be purchased as non owner-occupied. … [Read more...]
Don’t Let the Credit Report Companies Market Your Personal Information
February 9, 2010 By 1 Comment
The major credit report companies, Equifax, Transunion, Experian are marketing the information they gather from your credit reports. Are you tired of receiving unsolicited offers of credit and insurance? Do you know how they receive your information? The major credit report companies are providing this information. The Fair Credit Reporting Act (FCRA) permits this, but it also permits you to opt out of receiving these mailings. To opt out go to OptOutPrescreen.com … [Read more...]
