Should I Pay Mortgage Points?

If you are buying a home or refinancing, you have probably heard about “mortgage points.” This form of pre-paid interest can save you thousands of dollars over the course of your loan but in many circumstances is not worth the upfront cost. How do you know whether to pay points or not? Here’s a quick
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Important Changes in FHA MIP Calculations

FHA loans have grown substantially over the past decade, primarily because of the benefits that these loans offer to families with low to modest budgets. The perks to choosing an FHA loan, one that is backed by the Federal Housing Administration, are plentiful and include lower down payments, more forgiveness toward poor credit and the
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Why the New Construction Market is Gaining Strength

In the years following the local housing rush which followed Hurricane Katrina, many home builders have lived through a dramatic slowdown in St. Tammany new construction market. Some experts attribute this to the rapid influx of post-Katrina new residents, and others to the general slowdown in the housing market which has affected the rest of
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An Overview of Rural Development Loan Programs

The mission of rural development programs is to assist low to moderate income rural families qualify for homeownership. Living in rural areas, it can sometimes feel like you’re forgotten and lack many of the resources that families living in the cities and suburbs take for granted. Rural development programs improve the quality of life for
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Pros and Cons to Debt Consolidation Loans

Debt consolidation is the act of refinancing your home, or taking out a 2nd mortgage, to pay off several smaller loans including retail or consumer loans that may not be tied to your home. It’s a way to help people gain control of their finances; instead of having all types of loans with various interest
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Top Things You Should Know about FHA Loan Programs

An FHA loan is one that is backed by the Federal Housing Administration. These loan programs have held a steady reputation for their ability to help families with modest budgets, which is why they have become much more popular with the recent housing crisis. FHA loans account for nearly half of the loan market, and
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Tips for getting the mortgage loan you want

A mortgage loan is probably the largest loan you will ever take on, and certainly the most complex. Getting a loan these days is not easy, but with a bit of planning and preparation, you stand a better chance of getting the loan you want. Our tips for getting the mortgage you want: Before you
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Government Help for Late Mortgage Payments

Getting behind on payments can happen to anyone, but not getting help to get caught up can mean a significant risk of losing your home. And for those who become behind or facing the prospect of foreclosure, there may be government help for late mortgage payments. Keep in mind that the government is not going
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Finding a Mortgage Broker who specializes in Less Than Perfect Credit Mortgages

In days past, if you had a less than perfect credit rating it usually meant that someone was irresponsible or simply unethical in how they handled debt. Today, many hard working people have less than perfect credit due to a number of reasons not all of which are under their control. At the same time,
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What is Mortgage Insurance For?

Simply put, mortgage insurance (also called “PMI” or sometimes simply “MI”) is designed to provide additional security for home mortgage lenders to ensure that they’ll be insured in the event of a default. The insurance doesn’t cover the homeowner: it covers the mortgage lender or banker. Mortgage insurance is a requirement for some mortgages and,
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