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Buying: Don't Move Your Money Around - 10/12/07 01:58 PM
As a lender, when we review your loan file for final approval, one of the items we are concerned about is the source of funds for your down payment and closing costs. Most likely, I will ask you to provide statements for the last two months on any of your liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stocks, bonds, mutual funds, and even your 401K & other retirement accounts. If you have been moving money between accounts during that time, there may be large deposits and withdrawals in some of them that must be … (1 comments)

What Are Seller Concessions/Contributions? - 10/03/07 05:29 PM
This may be a new concept for you but it is one that can easily be grasped and it goes like this: Typically, a home buyer must pay for certain costs to complete the transaction, however, an agreement can be made between the buyer and seller where the seller pays for those costs on the behalf of the buyer. These costs are paid when you close your mortgage via a credit on your settlement statement from the seller (hence, they are referred to as "closing costs") and can include, but are not limited to:
 
Appraisal Fee
Title Insurance
Property … (0 comments)

 
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Michael Creed

Oconomowoc, WI

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Envoy Mortgage

Address: 405 Forest St, Suite 109, Oconomowoc, WI, 53066

Office Phone: (262) 293-5144

Cell Phone: (262) 696-9048

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