Buying or refinancing a house includes costs for different types of insurance. Some are required and some are optional. Here, I’ll answer questions about the different types of insurance products encountered when transacting a mortgage. I see “Homeowner’s Insurance” on my Good Faith Estimate. What is that? Homeowner’s insurance is sometimes called Property and Casualty […]
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With rates rising somewhat over the past few months, many borrowers have inquired about Adjustable Rate Mortgages, which offer lower rates than the 30 year fixed products . Here, I’ll discuss the advantages and pitfalls of ARM’s. What are the advantages of an ARM compared to a fixed rate? The single advantage of an […]
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Many borrowers have questions about how retirement assets are counted in the mortgage process – do they count as income? As reserves? Knowing how they are used can help you as you are preparing to qualify for a purchase or a refinance mortgage. Here, I’ll answer questions about retirement assets. I have a substantial 401-K […]
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