14 Jan 2015
By Mark Feder

Three Major Mortgage Mistakes Which Are Sure to Increase Your Closing Costs

Home Mortgage Tips
When shopping for a mortgage, it is important to take closing costs into account. While some closing costs are the same for all lenders, different programs may add or reduce some of the burden borrowers face when closing on a home loan. Let's take a look at some major mistakes that could result in borrowers paying more than they need to in closing costs. 1) Failing to Take Property Taxes Into Account Property taxes are generally put into an escrow account that is established prior to closing on the home loan. In most cases, a homeowner will have to pay…
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07 Jan 2015
By Mark Feder

It’s 2015! Get a Jump on Your Payments with Our Quick Guide to Paying Your Mortgage off Sooner

Home Mortgage Tips
With the start of the New Year, it's common to set new resolutions. While there are many goals that are worthwhile, paying off your mortgage as soon as possible can significantly improve your financial position and is a great goal to aim for. With that in mind, let's take a quick look at a few helpful tips for paying your mortgage off sooner. Refinance To A Shorter Mortgage Term For example, switching from a 30-year mortgage to a 15-year will get your mortgage paid off in half the time it would have originally taken, and it will also lower the…
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06 Jan 2015
By Mark Feder

FICO Scores: How Does Your FICO Score Impact Your Mortgage? Let’s Take a Look

Home Mortgage Tips
Homeowner's insurance is an incredibly valuable and beneficial policy for homeowners to have, but it is necessary to understand what traditional policies do and do not cover. Once you familiarize yourself with the intricacies of various plans you will be better educated to make the proper decision when selecting your desired level of coverage. What's Covered In Homeowner's Insurance? The majority of homeowner's insurance plans will cover dwelling and other structure protection, personal property protection, natural disaster protection, and bodily injury liability protection. Dwelling and other structure protection plans cover damage to your home and other structures that are directly…
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30 Dec 2014
By Mark Feder

You Ask, We Answer: What is Private Mortgage Insurance or ‘PMI’ and How Does It Work?

Home Mortgage Tips
For many homeowners, their mortgage payment contains more than just principal and interest. A little something called PMI could be representing a significant portion of that payment, and it's important for home buyers to understand this cost. What Is PMI? PMI stands for private mortgage insurance, or sometimes just mortgage insurance. However, it isn't intended to mitigate risk for the homeowner, but rather the bank. Statistics show that when a home buyer puts less than 20% down on a home, he/she is much more likely to default. So, requiring these buyers to carry PMI helps the bank hedge their losses…
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