Boise Idaho Home Buyers : Ten Credit Do's and Don'ts To Bear In Mind Prior To Getting Your Mortgage Loan
April 1, 2010 by andyradke · Leave a Comment
How can a fully approved Idaho home loan mortgage get denied for funding after the borrower has signed loan docs? Simple, the underwriter pulls an updated credit report to verify that there hasn’t been any new activity since original approval was issued, and the new findings kill the loan. This generally won’t happen in a [...]
Boise Idaho Home Buyer asks “Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?”
April 1, 2010 by andyradke · Leave a Comment
Although every situation is unique, it is not uncommon for Boise Idaho home buyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job transfer? Regardless of the motivation for keeping one [...]
How Much Of A Home Can I Afford In Boise Idaho?
March 31, 2010 by andyradke · Leave a Comment
How much Boise Idaho mortgage money can I qualify to borrow? This is typically the number one question mortgage professionals are asked by new clients. Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for a [...]
Understanding the FHA Mortgage Insurance Premium (MIP)
March 28, 2010 by andyradke · Leave a Comment
* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1. Up Front Mortgage Insurance Premium (UFMIP) – financed into [...]
Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices
March 28, 2010 by andyradke · Leave a Comment
Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer. The distinction lies in the purpose of the two valuations [...]
Mortgage Closing Costs
March 28, 2010 by andyradke · Leave a Comment
In addition to the basic mortgage underwriting, processing and origination fees that are charged by a lender, there are several other costs associated with purchasing a new property. Since every player on your real estate home buying team has a stake in your transaction, it’s a good idea to know how to budget for their [...]
