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refinancing: Do You Need a Real Estate License to "Flip" Properties? - 07/27/07 01:09 PM
You buy a property, you flip it, you profit. Does this require a real estate license? In most cases, the answer is "no". Real estate brokerage is an activity regulated by states on their own terms, thus each state defines which activities require a license. There is a lot of vagueness and ambiguity in some of the state licensing codes, as well as "gray areas", which complicate the matter. Furthermore, if you vary the techniques and your business practices beyond the scope of what I teach in my course, it is not always clear how the state authorities might view your … (6 comments)
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refinancing: Freddie Mac Home Possible Program - 07/26/07 12:13 PM
Effective recently, conforming lenders will accept loan submissions and locks for the Freddie Mac Home Possible program. Details for the program can be found at http://www.freddiemac.com/homepossible/ or you can check out the program matrix for the My Community and Home Possible programs on most rate sheets. You must be approved by Freddie Mac to utilize their Loan Prospector underwriting engine. You can visit their website at http://www.loanprospector.com/signup/ for details.Personally, I think the Home Possible program is going to be a spitting image of what MyCommunity was earlier this year - a flexible 100% loan program with reduced MI and a 1pt … (1 comments)
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refinancing: The 10 Biggest Mistakes When Refinancing - 07/09/07 11:17 AM
The 10 biggest mistakes when refinancing1. The new interest rate does not justify the refinancingBefore you go ahead and refinance your mortgage, you have to make sure that the change will save enough to justify the whole process of refinancing. As a rule, if the interest rate does not decrease by at least .0075 (.75 %) to .01 (1%) then refinancing is probably not a good move.2. Not knowing your real closing costsClosing your mortgage is usually a charged service. By law (in the United States), closing costs must be disclosed within 3 working days of the loan application. Each lender … (5 comments)
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refinancing: Refinancing Options - 05/10/07 11:47 PM
Which refinancing option is best for you?
There aren't quite as many loan programs as there are borrowers, but it seems like it sometimes! I'll work with you to qualify you for the best loan program to fit your needs. But there are some general considerations you can have in mind in advance.
Are you refinancing primarily to lower your rate and monthly payments? Then your best option might be a low fixed-rate loan. Maybe you have a fixed-rate mortgage now with a higher rate, or maybe you have an ARM -- adjustable rate mortgage -- where the interest rate varies. Even if … (1 comments)
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Justin Kaatz, CMP
Madison,
WI
More about me…
ASAP Mortgage
Address: 1250 Femrite Dr, Suite 105, Madison, WI, 53716
Office Phone: (608) 237-8900 x 14
Cell Phone: (608) 347-3424
Email Me
Hello everybody my name is Justin and I'm a Licensed Mortgage Professional serving the whole state of WI. I am looking to pick up some useful information and possibly establish a few relationships through this website and blog!
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