Ar_home_b_search
 



lender: Refi Without PMI, Even if Your Home Value Has Declined - 10/05/11 10:12 PM
Have property values declined, not so much as to put you ridiculously upside-down, but enough that your current loan balance may no longer be less than 80% of the current value of your home? If you're in a position where you don't pay PMI now because you didn't need to pay it when you first took out your current loan, or because you didn't need it the last time you refinanced... perhaps you've felt that refinancing wouldn't benefit you, having heard that the cost of PMI has increased significantly over the past few years.
Many homeowners are unaware that both Fannie Mae and Freddie … (6 comments)

lender: FHA 90 Day Seasoning Rule Waiver - 06/09/10 04:36 PM
Effective February 1, 2010, HUD waived the requirement that an FHA Loan could not be issued on a home where the current owner was on title for less than 90 days before a contract to purchase was entered into.
Well, the fact that it was not included in a Mortgagee Letter is causing some problems.
I called HUD today to make them aware of the absence. I have no idea if or when they will actually put it into a Mortgagee Letter or not, but I thought it wouldn't hurt to ask them to.
HUD and FHA were both on board … (3 comments)

lender: The New Good Faith Estimate (GFE) Form, Page 2 Section B - 11/12/09 01:34 AM

Section B of Page 2 of the Good Faith Estimate (GFE) has 9 parts. Let's go through them.
Item 3 will be a list of required services that the lender will select. These are services necessary in order to complete your transaction. These charges are subject to a 10% tolerance at settlement, meaning that they may be up to 10% higher (but ONLY 10% higher) at settlement.
It is my understanding that the TOTAL of all items listed in these categories is subject to a 10% difference at closing. In other words, an individual item may in fact cost more … (6 comments)

lender: The New Good Faith Estimate (GFE) Form, Page 2 Section A - 11/12/09 01:24 AM
Page 2 of the new Good Faith Estimate (GFE) will look significantly different from Good Faith Estimates of the past.
Section A has 2 parts.
Item 1 is the origination charge, or what the lender is charging you for the loan. This number includes ALL lender fees, combined into one figure. These fees include all the items one used to see listed on Good Fath Estimates as separate line items under such names as:
Application Fee Origination Fee Processing Fee Underwriting Fee Document Preparation Fee Administration Fee Wire Transfer Fee etc. It may also will include any Yield Spread Premium … (0 comments)

lender: How is Earnest Money Applied at Closing? - 04/08/09 11:35 AM
Earnest Money is applied as a credit to you at Settlement.
The settlement sheet is basically a balance sheet. The money you owe is on the top of your side (purchase price, closing costs, your portion of property taxes, etc.) All the money paid on your behalf (loan proceeds, earnest money, the seller's portion of property taxes, etc.) is on the bottom of your side and is a credit to you. The difference between what you owe and what you have paid (including the Earnest Money) is what you have to bring in to closing (or what is refunded to you … (0 comments)

 
089 Rainmaker_large

Benjamin Clark - Exclusive BUYER'S AGENT - Certified Negotiation Expert - SLC, UT

Salt Lake City, UT

More about me…

Homebuyer Representation, Inc.

Address: PO Box 701481, SLC, UT, 84170-1481

Office Phone: (801) 969-8989

Cell Phone: (801) 999-8889

Email Me

Insights and information from Salt Lake City's only Exclusive Buyer Brokerage (Exclusive Buyers Agents work for BUYERS ONLY!)

Find out why you should always make sure you get an Agent on YOUR side of the transaction when buying a home!

Finally!

Real Estate Agents on the Buyer's Side™

website counter

Salt Lake City Real Estate - Trulia
Subscribe to Buying a Home near Salt Lake City, Utah? CLICK HERE! - Exclusive Buyers Agent Blog by Email


Listings

Links

Archives

RSS 2.0 Feed for this blog