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Monthly Archives: September 2012

To Pay Points or Not To Pay Points?

To Pay Points or Not To Pay Points?I get this question a lot. Why would you and why wouldn’t you….Let’s look at the options.

What is a point? 1% or your loan amount. If you borrow $200,000, then 1 Point = $2,000.

This would be $2,000 in addition to what you would normally spend on your normal closing costs if you are obtaining a conforming fixed rate loan. Most of the time on a normal, conforming Fixed Rate Loan you don’t Continue reading

How to Modify Your Home Loan – It’s Not That Difficult

How to Modify Your Home Loan - It's Not That DifficultMillions of homeowners across the country are wondering how to modify a loan. To most homeowners it seems like one big mystery, but in reality it’s quite the opposite. Modifying your loan isn’t easy, but lenders and banks aren’t accepting and denying applications based on some secret formula: They are looking at how big of a risk you are.

It’s true that lenders are picky Continue reading