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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Fixed Rate and Adjustable Rate Mortgages: What You Should Know

There are a variety of mortgage loans that are available to homeowners who want to purchase a home. It’s important to be aware of the various loan options so that you can make the best decision based on your long term goals and the monthly payment you can afford. Here are the top five mortgages
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What Is a Jumbo Mortgage?

Many people have heard the phrase “jumbo mortgage” and most likely know that it refers to a really large loan.  But did you know that some houses in your neighborhood may require a jumbo mortgage and do you know what the loan limits currently are? So how exactly do lenders define what qualifies as a
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