Blog Archives

Should You Buy a New Home or a Resale?

Should You Buy a New Home or a Resale?

When you are ready to start house hunting, you may want to consider new home construction so as to broaden your options. There will be many opinions as to whether a new home or a resale home is better. Let’s look at a comparison: Read the rest of this entry

How do I pay the Title Company at Closing?

How do I pay the Title Company at Closing?

Can I bring my funds in cash? Can I pay the balance with my credit card? Hmmm…..let me think about this for a second, NO!!

There are a few ways that payment can be made, however over the years with an array of fraud on our door steps, some companies have tailored what will be accepted at closing. Even more so that the most current Florida Realtors/Florida Bar-1 2010 contract has some new clauses that specify what can happen if certain payment methods are used. Read the rest of this entry

The No Closing Cost Mortgage – Part II

The No Closing Cost Mortgage

PART II

Mortgage Warehouse offers a very popular no closing cost option on many of our loan programs. Many banks offer a “no point” mortgage where they don’t charge fees, however the borrower still must pay for some items such as title search and appraisal fees. With our true no closing cost mortgage, the borrower pays no closing costs period! Read the rest of this entry

The No Closing Cost Mortgage

The No Closing Cost Mortgage

PART I

Mortgage Warehouse offers a very popular no closing cost option on many of our loan programs. Many banks offer a “no point” mortgage where they don’t charge fees, however the borrower still must pay for some items such as title search and appraisal fees. With our true no closing cost mortgage, the borrower pays no closing costs period! Read the rest of this entry

Foundations of the Mortgage Industry (Part II)

Foundations of the Mortgage Industry (Part II)

There are two markets that structure the mortgage industry.

  1. The primary market:  Where loans are originated.  This consists of Brokers, Mortgage Loan Officers, Banks, Credit Unions and Thrifts.
  2. The secondary market:  Where loans are sold.  This consists of Fannie Mae (FNMA), Freddie Mac (FHLMC), Ginnie Mae (GNMA), Wall Street, and wholesale line of credit accounts.  Interesting to note, FHA, VA, and USDA are in neither market.  Read the rest of this entry