Closing cost survey by state, Maryland, DC, and Virginia closing costs about average - 11/29/10 06:37 PM
I stumbled across a very interesting closing cost survey by state over on bankrate.com and figured it was worth sharing.  In 2009 and 2010, Bankrate surveyed one area in 49 states, two areas in California (Los Angeles and San Francisco) and the District of Columbia.  It is not clear how many different parties they surveyed in each state, so the numbers may or may not be statistically signifcant.
Note: closing costs shown don't included: taxes, other government fees, and escrow fees.
Average closing costs come in at $3,741.  New York reported the highest closing costs at $5,623.  The least expensive state is … (0 comments)

Why you shouldn't float your mortgage loan. Lock-in your mortgage rate when you can - 11/24/10 05:28 PM
Should I float my mortgage rate?  Should I lock-in my mortgage rate?  I've said it before, and will say it again!  I always recommend borrowers lock-in their interest rate instead of deciding to float their loan.  There are a few simple reasons at play here, and I'll explain how the decision to float (even when the consensus is that rates will go down) doesn't always pan out and could end up costing you - all from what happened to rates over the past 3 weeks.
The only reason to float your loan:
You have a strong feeling that rates will get better … (0 comments)

Now is truly a good time to buy a home even if you may be underwater! - 11/03/10 08:22 AM
Now is truly a good time to buy a home even if you may be underwater! 
I have been running across a lot of potential sellers who don't want to sell their current home because it is not at the value they want it to be and some even have to pay some money to get out.  Well, I am questioning whether it make sense to "wait until property values come back up" and below I present some numbers as to why it may actually make sense to take the loss on your current property to take advantage of the lower … (3 comments)

 
Nick6 Rainmaker_large

Nick Pakulla Mortgage Lender Loan Officer in MD DC VA

Rockville, MD

More about me…

First Place Bank Maryland, Virginia, District of Columbia

Address: First Place Bank, 15400 Calhoun Drive #170, Rockville, MD, 20855

Office Phone: (301) 585-7283

Email Me

Loan Officer with First Place Bank in Rockville Maryland. FHA, 80-10-10, VA, Conforming, Jumbo, Refinances, a group of local approved appraisers (no 3rd party appraisal system), In-House Processing and Underwriting. Servicing Maryland, DC, and Virginia.



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