| |
universal home mortgage: FHA Raising Mortgage Insurance Premiums April 1, 2012 - 03/13/12 08:55 AM
The FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers. It's the FHA’s fourth such increase in the last two years.
Beginning April 1, 2012, upfront mortgage insurance premiums will be higher by 75 basis points, or 0.75%; and annual mortgage insurance premiums will be higher by 10 basis points per year, or 0.10%.
For borrowers with a loan size of $200,000, the new MIP will add $1,500 in one-time loan costs, plus an on-going, annual $200 increase in total mortgage insurance premiums paid.
All new FHA loans are subject to the increase — purchases and refinances.
The … (0 comments)
|
universal home mortgage: Top 100 Apps for Real Estate Professionals - 02/08/12 01:55 PM
Are you looking to be more productive when it comes to your technology? I found a great report that includes the Top 100 Apps for Real Estate Professionals and it's PACKED with killer tools and gadgets. Check it out, and tell me what works for you.
Here's the link:
http://www.inman.com/news/2011/08/23/100-productivity-apps-real-estate-professionals
… (0 comments)
|
universal home mortgage: Take Steps to Success - 01/24/12 11:44 AM
Are you working on a project but can't see the whole path to completion clearly? Can you see the first two or three steps? Take those. When you do, the next two or three will come into focus, then take those. Be diligent and before you know it, you'll have another notch in your belt of completed projects. It will give you a sense of accomplishment and actually improve your sense of well being. Take the next step(s) on at least one project today. Dive right in!!!
… (1 comments)
|
universal home mortgage: Gas Stations Leave Clues About Future Mortgage Rates - 06/12/09 07:52 AM
For people trying to time the mortgage market for the best rate, clues about the future of mortgage rates may be at the local gas station.
Rising gas prices are indicative of the rising cost of energy and, indeed, crude oil appears to be on a continual rise upward. As these energy costs grow, so do inflationary pressures on the U.S. economy.
Inflation, of course, is awful for mortgage rates. When it's present, mortgage markets deteriorate and rates tend to rise -- often sharply and with little advance warning.
So, for today's homebuyers-in-process and would-be refinancers, prices at the pump may foreshadow bad news … (0 comments)
|
universal home mortgage: Receiving Cash as a Gift for Downpayment - 06/12/09 07:39 AM
Tighter mortgage guidelines since late-2008 are forcing home buyers to make bigger downpayments. Anecdotally, the change has led to a surge in buyers taking gifts of cash from family members.
If you're among those accepting a cash gift from family, it's important to know that you can't just deposit the money in your bank account.
There is a proper way to accept a cash gift and it requires 3 distinct steps:
Complete and sign an acceptable gift letter Document the gifter's withdrawal of funds with teller receipts Document the giftee's deposit of funds with teller receipts See, mortgage lenders pay close attention to gifts-for-downpayments. For one, … (0 comments)
|
universal home mortgage: Why Rates Have Gone Up - 06/12/09 07:36 AM
Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership.
To the casual observer, the moves may seem random. There's a reason this is happening, however.
It starts with inflation.
As an economic force, inflation erodes the value of the U.S. Dollar. Left unchecked, it drives up the Cost of Living as each dollar "buys less" at the supermarket, gas station, or anywhere else.
But with respect to mortgage rates, inflation's impact is more immediate. Because inflation devalues the dollar over the long-term, it renders long-term mortgage bonds a less attractive … (0 comments)
|
universal home mortgage: Credit Repair VS. Credit Optimization - 03/23/08 08:18 PM
There is a big difference between credit optimization and credit repair. Credit optimization focuses in on the fact that nearly 4 out of 5 credit reports include errors. 65% of a credit score is made up of items other than payment history (ex. revolving balance due vs. balance maximum allowed, inquiries, recency of delinquent events, etc.). Credit optimization performed by experienced lending professionals focuses on discrepancies in a credit report. Credit repair often disputes actual delinquency that, if not countered by the reporting lender, must be removed. In a lending environment where agency (Fannie/Freddie) loans are significantly more expensive for borrowers … (3 comments)
|
universal home mortgage: Lender Vs. Broker- What's The Difference? - 03/23/08 02:43 PM
Basically, you have three main business models in the mortgage profession: Bank related mortgages, correspondent lenders, and mortgage brokers. Their business models are as follows:Bank related mortgage- Bank funds loans from bank funds and has loans securitized in a pool of mortgage backed securities in a sale to Fannie Mae or Freddie Mac to replenish funds to bank. Banks have commonly known names so many people use them for their mortgage lending needs. The problem is that many banks do not have great pay plans so they take on a lot of new loan officers or they take on seasoned loan … (7 comments)
|
|
|
|
|
|
Kevin Whatley
Shreveport,
LA
More about me…
Universal Home Mortgage
Address: 900 Pierremont Road, Suite 104, Shreveport, LA, 71106
Office Phone: (318) 675-1010
Cell Phone: (318) 470-6154
Email Me
 Listings
Links
Archives
|
;)
;)
;)
