by Ed & Barbara Heiser | May 11, 2018 | Mortgage Approval Process
When applying for a mortgage, a borrower’s “Occupancy Type” is a major factor in the amount of down payment required, loan program available and mortgage interest rate. Whether you are purchasing, doing a rate/term refinance or taking equity out of...
by Ed & Barbara Heiser | May 11, 2018 | Mortgage Payments
Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value. According to Wikipedia: Private Mortgage Insurance (PMI) is insurance payable to a...
by Ed & Barbara Heiser | May 11, 2018 | Real Estate Appraisals
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much. And in times of turmoil when property values are declining, home sellers and even listing agents quite often question and pick apart...
by Ed & Barbara Heiser | May 11, 2018 | Real Estate Appraisals
Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer. The distinction lies in...
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