Bill Polack's (bpolack) Blog

Mortgage and Lending - First Option Mortgage - 269761
FNMA replaced MyCommunity with HomeReady which offers a lower MI payment and a reduction of fees to lower income buyers. This effort is to compete with FHA. Below is a short comparison between the two programs.MI - Mortgage InsuranceLTV - Loan To ValueDPA - Down Payment AssistanceFirst Time Homeb...
What: FHLB Down payment assistance may soon be coming to your area.Currently Where: Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of ColumbiaFHLBATL.comWho Qualifies: Anyone who earns less than 80% of the 2014 HUD median income. The 2015 median in...
As Mortgage Loan Professionals, we learn to deal with stressful issues that are a part of doing business in a government regulated industry.  Over the years, I encountered so many different reasons why a loan didn’t close on time. Here are just a few reasons why a loan is delayed or gets declined...
Quoting a mortgage interest rate is not as easy as one might think. There are several factors that can impact the pricing of an interest rate.First, let’s look at how interest rates are priced based on a lender’s rate sheet. A Par interest rate looks like this: 4% = 100.000. This means that the i...

Bill Polack

Bilingual Spanish Loan Officer in Southeast US.
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