Idaho Home Buying Process

March 21, 2010 by · 4 Comments

Idaho Home Buying Steps / Process:   Step 1 – Getting Pre-Approved Prior to Shopping for an Idaho Home It’s obviously important to know how much home you can afford, what type of down payment to budget for, monthly mortgage payment as well as what type of loan program you’ll be using to finance the new […]

How Much Of A Home Can I Afford In Boise Idaho?

January 1, 2010 by · 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 […]

Idaho Rural Development Loan

August 23, 2015 by · 7 Comments

  The Idaho Rural Development loan is a true 100% financing with low mortgage insurance. Having to pay low mortgage insurance allows borrowers to pay quite a bit less per month compared to if they had normal mortgage insurance on the loan.   Mortgage insurance also known as private mortgage insurance (PMI) is setup to […]

What Is An Idaho Reverse Mortgage ?

March 7, 2012 by · Leave a Comment

What is an Idaho Reverse Mortgage ?   An Idaho Reverse Mortgage, also known as a HECM (Home Equity Conversion Mortgage), is a loan made to a person age 62 or older. There are no income, credit or health requirements associated with the loan.   The amazing thing about the Idaho Reverse Mortgage is that […]

10 Advantages Of Getting a FHA Mortgage in Boise Idaho

September 8, 2010 by · Leave a Comment

10 Advantages Of Getting a FHA Mortgage in Boise Idaho 1. Only 3.5% down payment which may include closing cost 2. Down payment and closing costs may be gifted from relative or employer 3. Higher qualifying ratios 4. Higher loan to value ratio 5. Cash out refinance up to 85% LTV 6. Can have a […]

Benefits and Drawbacks of a Boise Idaho Short Sale

August 11, 2010 by · Leave a Comment

There are many benefits to an Boise Idaho Short Sale versus a Boise Idaho Foreclosure, but there also many drawbacks to a short sale that need to be considered before deciding on the best course of action. A short sale is a great option for home owners who need to sell their home and owe […]

Seven Things Your Boise Idaho Real Estate Agent Should Know About Your Mortgage Approval

April 1, 2010 by · Leave a Comment

While many experienced Boise Idaho real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.   New regulation, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, secondary approval layering, rescission deadlines, […]

Where Does My Earnest Money Go When Purchasing Boise Idaho Real Estate?

March 28, 2010 by · Leave a Comment

Hey, I gave my Boise Idaho real estate agent a $5000 Earnest Money Deposit check… Where does that money go?   A basic and very obvious question that most Idaho First-Time home Buyers ask once their purchase contract gets accepted.   According to Wikipedia: Earnest Money – an earnest payment (sometimes called earnest money or […]

Understanding the FHA Mortgage Insurance Premium (MIP)

March 28, 2010 by · 1 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 […]

Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices

March 28, 2010 by · 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 […]

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