FHA INCREASES MONTHLY INSURANCE PREMIUM - 09/23/10 12:08 PM
FHA INCREASES THE MONTHLY INSURANCE PREMIUM EFFECTIVE OCTOBER 4, 2010.
 
What is the effect of the FHA monthly insurance premium increase on the borrower?  
Let's take a look:  FHA has become a go to loan for so many borrowers, but particularly is used for first time buyers frequently. In the past it has made sense for these buyers because the up front mortgage insurance premium (MIP) collected at closing reduced the monthly payment for those borrowers putting down the minimum required amount.
A lot of borrowers look at the monthly payment for good reason - they KNOW what they can afford. … (2 comments)

DO MORTGAGE BROKERS COST MORE? - 09/10/10 08:55 PM
DO MORTGAGE BROKERS COST MORE TO USE?  That's a question I was asked this week and I eagerly answered it. While doing so, it crossed my mind that it is probably a pretty common thought when borrowers are shopping for a loan.
 
Home financing can be confusing. Having worked in this industry in a "retail" position and now as a "broker", the biggest difference is how well the loan originator explains the process.  No matter where I've worked, my main goal is that a borrower understand the options and that he/she select the scenario that suits them best. As a means of getting … (2 comments)