Category Archives: Understanding Your Mortgage
30 Year Fixed Vs 15 Year Mortgages
In recent years, we have had many conversations about refinancing a mortgage with historically low rates. In these conversations we have heard a wide variety of concerns. This month, we would like to explore one of those concerns; “I don’t want to start my mortgage over by refinancing into another 30 year mortgage.” Historically, the [...]
- January 13, 2012
- / Category Know Your Mortgage, The Kunselman Team, Understanding Your Mortgage
- / Posted By Mortgage Master Luke
- / No Comments.
The Cost of Walking Away From Your Upside-Down Mortgage
Owing more on your mortgage than your home is worth (being upside-down on your mortgage) & continuing to make the payments, may seem like a bad investment. But the alternative-choosing to default on your mortgage even if you can afford the monthly payments-will take a significant toll on your credit rating. This is called “strategic [...]
- February 15, 2011
- / Category Know Your Mortgage, Mortgage Industry, News, Uncommon Useful Knowledge, Understanding Your Mortgage
- / Posted By Mortgage Master Luke
- / No Comments.
Top 10 Reasons for Getting a New Mortgage in 2011
Rates are still really low. FNMA DU Refi+ and the Freddie Mac Open Access HARP programs are still around through May. You might not have to pay for an appraisal Self-employed people can still get a loan. 100% Financing is available in rural areas (Frederick/Firestone count as rural) FHA has lowered its up-front mortgage insurance [...]
- January 21, 2011
- / Category Mortgage Industry, News, Real Estate Industry, Uncommon Useful Knowledge, Understanding Your Mortgage
- / Posted By Mortgage Master Luke
- / No Comments.
Get the Process Started Now
The loan process is not what it used to be. In the not so distant past, we used to be able to start a new refinance and get it closed within 3 weeks. Lenders were a lot more streamlined and were staffed to handle the amount of loans they were getting. But because of new [...]
- December 8, 2010
- / Category Know Your Mortgage, Mortgage Industry, News, Uncommon Useful Knowledge, Understanding Your Mortgage
- / Posted By Mortgage Master Luke
- / No Comments.
Is It Still Worth it to Buy a Home without the Tax Credit?
Over the last couple of months some people have expressed disappointment about the $8,000 tax credit expiring in June. Now while it’s always nice to get money back, all is not lost. The interest rates are now much better than they were a year ago. Let’s look at a $200K 30 year mortgage at a [...]
- November 5, 2010
- / Category Mortgage Industry, News, Real Estate Industry, Uncommon Useful Knowledge, Understanding Your Mortgage
- / Posted By Mortgage Master Luke
- / 1 Comment.
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