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mi: Understanding Mortgage Insurance – What does it all mean? - 05/19/11 10:39 AM
Understanding Mortgage Insurance and the different types The keys to home ownership can be tricky and confusing, unless handled by a true professional loan officer. You’ll sometimes hear loan officers and or realtors talk about one mortgage program over the other, telling you how great it is or that the monthly mortgage insurance is less than the other program. But wait, one main ingredient is still missing in this whole equation. What are the credit scores, aka fico scores. Why is this important?
When comparing a conventional loan to any other type of mortgage loan, many of the MI companies … (30 comments)
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mi: FHA MIP vs Conventional PMI -- The online truths that are false -- Part 1 - 01/11/08 11:18 PM
MIP update as of 10/1/08 -- New Upfront Mortgage Insurance Premium Changes
Educating the consumer is sometimes the simplest in form, but can be so misleading by those that don't do their research or know what they are talking about. I tell people that I am not god nor am I perfect, but I do consider myself to be very good at what I do. And if I am not sure, I do my research to make sure that it's very accurate.
As I have conversations with others in the real estate profession, it becomes scary to when I … (14 comments)
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mi: FHA refinancing or purchasing -- The full scoop and nothing but the scoop - 09/02/07 03:31 PM
With the mortgage meltdown back in the beginning of the year for 2007 which has carried throughout the summer, FHA has become popular again. Kris Wales wrote in a comment that she received an e-mail from a loan officer stating that FHA is back. She wrote back stating that it never left and this is coming from a realtor.
Folks, FHA has never left. If your lender or loan officer can't offer you a FHA mortgage and your credit is less than perfect, then please seek out a mortgage professional that can offer FHA financing. Otherwise you might be going backwards. But … (36 comments)
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mi: FHA Mortgage Insurance Premium & Monthly Mortgage Insurance -- Refunds -- Part 3 of 3 - 08/18/07 11:18 AM
FHA upfront MIP refunds can some what be confusing at times because there are certain dates involved. The refund process has changed about 3 to 4 times in the last 15 years. In part 1, FHA Mortgage Insurance Premium & Monthly Mortgage Insurance, I talked about the basics of the upfront charge and the monthly insurance. In this section, I will share with you the types of refunds that are allowed.
The different refunds and their dates:
The old rule was that if you had paid your off either by selling your house or refinancing in 7 years or less, that you … (10 comments)
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mi: FHA Mortgage Insurance Premium & Monthly Mortgage Insurance and how it works -- Part 2 of 3 - 08/17/07 07:08 PM
In the first part, FHA Mortgage Insurance Premium & Monthly Mortgage Insurance and how it works, I talked about how the upfront mortgage insurance and the monthly mortgage insurance worked. After visiting several web sites describing FHA, the mortgage insurance, and who can get these types of loans, I decided to write more about how you need to be careful. I can't tell you have many sites were so wrong and or not updated. I saw a few that even said that the one-time mortgage insurance is 2.25%. This is not correct, it's 1.5% of the base loan amount.
What really … (5 comments)
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mi: FHA Mortgage Insurance Premium & Monthly Mortgage Insurance and how it works -- Part 1 of 3 - 08/16/07 08:59 PM
It's crunch time, especially with today's market. Does this make you hungry? Well, many loan officer's are very hungry and not that busy. Which leaves us to my rant of inexperienced loan officers trying to give their clients a FHA mortgage.
Word of advice : If you find someone giving you false information or information that doesn't make sense, why stay loyal to them? Seriously, run away, don't walk. Most of the criteria by FHA and HUD is written in stone. No lender can change this no matter what you think or have been told.
In Part 2, I will give you 2 … (15 comments)
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mi: Will a Realtor do business / refer business to a lender or loan officer out of state? - 10/09/06 10:46 PM
I just wanted to throw this question out there. Again, I have been in the mortgage industry for over 14 years. I have been with large lenders, a few mid sized lenders, and some smaller brokers. Even though I am based in Cherry Hill, NJ; I can do loans in any state with my current company. Ever hear of Cendent Mortgage (PHH/USA Mtg)? They are one of the top 10 lenders nationally and located in NJ. They do business in every state and very successful. But it helps when you are buying business also. LOL (long story)
I get my business from … (32 comments)
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Cherry Hill,
NJ
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Social Media - Infinity Home Mortgage Company, Inc
Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033
Cell Phone: (609) 440-5133
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