All consumers have the ability to dispute incorrect items on their credit report. However, home buyers should be conscious of the impact that it can have on obtaining home financing. This blog offers important details on disputed trade accounts and the affect on MA mortgages. Preparing for a Real Estate Purchase If you are thinking […]

Mortgage insurance is generally required when a home buyer borrows more than eighty percent of the value of a home. It protects mortgage companies against financial loss should a homeowner default on. Even though it is for the benefit of the lender, it is normally billed to the buyer as a closing cost and additional […]

Credit ratings are generated by three major credit bureaus (Experian, Equifax, and Transunion). They all use differing techniques to calculate a numerical credit score that reflects your credit worthiness. The higher the score, the better your credit standing. Specific activities can have a detrimental effect on your score and can possibly prevent mortgage companies from […]

Closing costs generally refer to fees charged by mortgage companies and third parties. Pre-paid expenses and escrows are also included in closing settlement statements and are sometimes referred to as closing costs, but they are really a separate category. Information on pre-paid expenses and escrows for MA mortgage closings is offered in this blog. Pre-paid Expenses Pre-paid […]

There are a variety of things that you can do to prepare for buying a home. A particularly critical one is to analyze your credit scores in advance as those scores affects your mortgage options and interest rate. The following are methods of improving credit before buying real estate in MA. Methods Of Improving Credit […]

The Consumer Financial Protection Bureau is in charge of administering and applying regulations pertaining to monetary transactions. The Real Estate Settlement Procedures Act (RESPA) is a federal law that specifically concerns real estate and loan transactions, including mortgages. One of the guidelines by RESPA is the requirement that a Good Faith Estimate (GFE) be provided […]

Pre-approvals do not guarantee final loan approval. Mortgage companies complete a detailed analysis before issuing an approval. This formal process does not typically begin until after a property is identified as they must look at both the personal data of borrowers and specifics of the real estate being financed. The following are some mortgage approval […]

Completing the home loan process will be confusing, particularly with all of the mortgage-specific phrases. Becoming familiar with common lending lingo may help the process. In this blog you will find details on common lending lingo in MA. Common Lending Lingo Pre-approval A pre-approval is a form written by a loan officer indicating the price and […]

HARP is a loan refinance program through Making Home Affordable (MHA) by the Departments of the Treasury and Housing and Urban Development (HUD). It was created to help homeowners current on their mortgage but who are unable to refinance since the price of their home has declined below the amount of their mortgage. Home Affordable Refinance Program […]

Appraisal and assessment values are frequently confused with one another. As a home buyer and home seller, it is crucial to distinguish the difference between the two. Information on MA appraisal and assessment values can be found below. What Are Assessment Values Municipalities charge a tax on residential properties. The amount is determined by a […]