The latest Georgia and Florida mortgage tips, news, and information, including a few secrets and how-to guides we’ve learned after closing more than 4,000+ home loans over the past 15 years.
What does the appraisal report contain? Each report must reflect a credible estimate of value and must identify the following: The client and other intended users. The intended use of the report. The purpose of the assignment. The type of value reported and the definition of the value reported. The effective date of the appraiser’s …
A home purchase is the largest, single investment most people will ever make. Whether it’s a primary residence, a second vacation home or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to pull it all off. So who makes sure the value of the property is in …
Oftentimes it may seem like a good idea to refinance to combine a first and second mortgages. If you have enough equity to keep your combined loans under 80% of the appraised value of your home this may work. There are some considerations however. If you’re existing 2nd mortgage was not used to originally to …
There may be some out of pocket funds required at closing depending upon a couple of factors. If you have an escrow account for taxes and insurance, it does not roll over to your new mortgage. This means we must collect for the new escrow account whatever amount should be in that account at this …
Will I have to write a check at closing with my refinance? Read More »
Convert your adjustable to a fixed rate When you bought your home originally or refinanced your home the last time, you most likely predicted that you would be moving prior to the expiration of your initial fixed rate period on your adjustable rate mortgage. Or because the rate was much lower at the time, it …
