Category: Blog

The Underwriting Process

On the fun scale, the mortgage underwriting process often feels like an exceptionally long dental appointment. You’ve dutifully gathered the mountain of documentation required to obtain a mortgage… or so you thought.  Your documents will be reviewed for thoroughness, …

Know Before You Owe. What Are Mortgage Disclosure...

he Real Estate Settlement Procedures Act (RESPA) requires that mortgage applicants receive several mortgage loan disclosure statements. These statements inform you about all the costs you’ll incur by obtaining a mortgage.  The purpose of the statements is to …

Gifted Funds

Saving a down payment is one of the most important—and often most challenging—aspects of purchasing a home. The larger your down payment, the less you have to finance. That in turn could lead to a lower interest rate …

What Are Supplemental Real Estate Taxes?

Homebuyers are often caught off-guard, and confused, by supplemental property tax bills. Receiving an unexpected bill in the mail is never a pleasant surprise, however supplemental property tax bills have been with us since July of 1983.  To …

Offer Accepted! Open Escrow! … What is Escro...

No matter where you’re buying a home, at some point you’re going to find yourself deep in escrow. (Don’t worry. It’s not as scary as it sounds.) What is escrow? In real estate, it has several  meanings, but they …

Earnest Money Deposit. What Is It? And Why Do I N...

The earnest money deposit, or EMD, is an important part of the home buying process.  It is a deposit of good faith on a home purchase transaction from buyer to seller, and tells the seller you’re a committed …

What Different Types of Mortgages Are Out There??

If you’re planning on buying a home in the near future, you have probably been lost down a path of what feels like never ending research, and are well aware there are many different types of home loans …

What Is a Mortgage Impound Account?

By now, you’ve likely heard the term “escrow” more than a few times throughout your home buying experience. However, the role of a mortgage escrow impound account is very different than the real estate escrow account used by …

Qualifying For a Mortgage Even With Student Loan D...

For thousands of recent graduates who found it almost impossible to get their college degree without taking of student loans, have also experienced yet another unexpected consequence – your student loan has impacted whether or not you’ll qualify …

The Homeowners Exemption: Are You Eligible?

Purchasing a home comes with a lot of paperwork. Though it’s no small task to keep track of everything, it’s important to stay on top of it all. Within that pile of papers, you might find some valuable …