Purchase

Find a Plattsburgh Mortgage Broker

Mortgage Broker Plattsburgh NY

A mortgage broker is a third party that arranges for home financing by working with investors or mortgage companies to close your mortgage loan. A mortgage broker offers standard home loan programs but also has more unique loan programs. Because a Mortgage Broker in Plattsburgh, NY is not lending their own money, they can close …

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The Appraisal

Mortgage Appraisals

One of the first steps in obtaining a mortgage loan is getting the appraisal. The appraisal is an independent report completed to determine the subject properties value. If you are applying for 100% financing and the purchase price is $150,000, in theory you should be able to borrow $150,000. One exception to this is of …

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Closing Costs Explained

When purchasing or refinancing a home, you will undoubtedly run into a complex list of closing costs. These costs can range from ten dollars to thousands of dollars. So how do you know if the closing costs are fair or necessary? This guide should help you amswer all of your questions. If you would like a …

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FHA VS Conventional Mortgage

FHA vs Conventional Mortgage Loans FHA and Conventional mortgages have different advantages and disadvantages. Mortgage lenders have reduced minimum credit score requirements for the FHA’s popular 3.5% downpayment loan; and, Fannie Mae and Freddie Mac have re-introduced a popular 3% downpayment program, called the 97 program. Add to these two programs the 100% VA loan backed …

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FHA Home Loans

An FHA loan is a mortgage loan with flexible underwriting guidelines backed by the Federal Housing Administration (A Department of HUD).  FHA loans are extremely popular with first time home buyers because they allow down payments as low as 3.5% and allow the seller to pay the borrowers closing costs. FHA has flexible credit requirements. …

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Home Inspection Red Flags

Mortgage Inspection

So you have found the home of your dreams. It fits your vision and lifestyle, and you are pre-approved to expedite the purchase. It is an exciting time, becoming a homeowner. One of the first steps to take is to have the home inspected to check for any structural and safety risks associated with the …

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The Cost of Waiting

Interest Rates Won’t be This Low for Long Waiting to buy a house could be costing you money. Homeownership has significant financial benefits, and yet, for the first time in 50 years, we have more renters than ever in the U.S. Almost half of renters say that their biggest regret is not buying a house. …

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Credit Scores Could Rise Next Month!

Starting next month, you might notice a boost to your credit score.Here’s what you need to know.Credit Score: What’s Changing?Beginning today, the three major credit bureaus – Experian, Equifax and TransUnion – will exclude tax liens from credit reports. Since tax liens can adversely impact your credit score, their removal could benefit your score.This follows …

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