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"What is a ‘portfolio’ mortgage loan?" – you ask
I had a call today from out of the blue. A gentleman called looking for a “no doc” loan. He’d been having trouble finding a place to refinance his home because of his financial situation. He was successful in the entertainment business for many years, he was self-employed, he had great credit, lots of equity, but he didn’t quite “fit the mold” of what most... [Read more]
New FHA loan limits as of Oct 1st, 2011
FHA announced new loan limits in many areas of the U.S. effective Oct. 1st of 2011. In NH the most populated areas saw a decline. Hillsborough county saw the biggest hit, where the FHA loan limit dropped over $100,000. You can check the new FHA loan limit for your area by visiting https://entp.hud.gov/idapp/html/hicostlook.cfm Just select the appropriate state and click send. Read More →
Women and home financing
I started this blog a while ago with just the title. I thought the title was interesting and Googled the topic and couldn’t find out much, and frankly that surprises me. One would think that with all the hype about encouraging home ownership to cure the troubled economy that such a large group as women might come under closer scrutiny. Drawing from my experience as a mortgage loan... [Read more]
New Hampshire Housing Finance Authority has new website!
The old NHHFA website was a for Realtors, Lenders, and Home Buyers alike. Now NHHFA has rolled out a website just for home buyers. http://www.gonewhampshirehousing.com/ Check it out! Read More →
What are "points"? And what is the point of points?
Confusing, isn’t it? A “point” is a short hand way of saying one percentage point. In the case of a mortgage loan a point is one percent of the loan amount. Points are typically paid when the loan is funded as part of the closing costs. Sometimes lenders will quote an interest rate saying : “The rate is five percent with 2 points”. In plain English that... [Read more]
