Jan. 17, 2024

Should I Get an Adjustable Rate Mortgage (ARM) Or A Fixed Rate Mortgage?



I thought we'd tackle this age-old question in the posts today.  There are a lot of factors here to consider, so what I thought I'd do is post a framework for thinking about how to answer the questions, and depending on the response, if people want ...

View More
Oct. 5, 2015

TRID is here: What do Buyers and Sellers Need To Know?

What is TRID

TRID is the latest fallout from the Mortgage and banking crisis. I know much of that seems like a long time ago, and it was, but the wheels of government turn pretty slowly. TRID is an "updated" version of documents that have been used to get mortgages ...

View More
Jan. 14, 2015

President Obama lowers cost of FHA loans - Will it help affordability?

Proving Government is always the last to know, Washington decides housing is a good risk

No matter your political stripes, we can all agree that that no one is better at missing a trend than the folks in Washington.


If you've been following this space, you're well ...

View More
Sept. 8, 2014

Should I be Pre-approved for A Mortgage Before I look for a House?

In this post, we're going to address several topics.


1) What does it mean to be pre-approved?


2) Should I look at houses before being pre-approved?


3) What do I need to do with my pre-approval before writing an offer?




What does it ...

View More
April 15, 2014

How do I get rid of PMI and stop paying for it?

What is PMI?

PMI is Mortgage Insurance that is generally required on higher risk, higher leverage mortgages that protects the lender from a home owners inability to pay the mortgage. I'm sure that didn't help, let's take a closer look.


A "standard" 80/20 mortgage means ...

View More
June 16, 2012

FHA loan Vs Conventional Loan - What are the differences ?

What is a Conventional Loan

A conventional loan is any loan that isn't owned or insured by the government. That's just about all of them, although some of the Non-conventional loans, such as FHA or VA, are very popular products that service a lot of people. FHA loans ...

View More
March 1, 2012

Can I get FHA Financing for that Condo?

What is FHA Financing, and Why does it Matter For my Condo?

FHA financing is one of the many types of government sponsored financing. Government sponsored financing works like this: 1) A Bank (like First Natick Savings) UNDERWRITES your loan. That means they examine the borrower, decides if he is ...

View More
Feb. 26, 2011

How Can a 203K Loan Help me Purchase a Home?

What is a 203K Loan or Mortgage?

A 203K Mortgage is a more complicated loan product, designed to help homeowners purchase property that needs immediate work in order for the home to be ready to live in. It is an FHA loan, which means that is government backed, which is ...

View More
Dec. 10, 2010

If the Fed is buying Treasuries to keep rates Low, why are Rates going up?

I think that current homeowners will be asking themselves this question a lot in the coming days, especially for those that didn't take my advice in my last newsletter to stop being picky and refinance.  But I thought I'd offer a layman's explanation here, as I suspect ...

View More
Posted in Financing
Dec. 7, 2010

10 Short Sale Terms YOU need To Understand

Like many new things, the vocabulary involved in a particular new field or endeavor can be a barrier all on it's own.  To help you understand short sales, I've compiled this quick terminology list that might help you if you're considering buying or selling short.  It'll ...

View More
Posted in Financing, Home Selling