16 Jan 2014
By Mark Feder
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Pros And Cons Of Adjustable Rate Mortgages

Mortgage Tips
When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage. In some cases, an adjustable rate mortgage may be your best option, but keep in mind, they are not the answer for everyone. Adjustable rate mortgages can be risky for some borrowers and it's important to understand both the pros and cons. When To Consider An Adjustable Rate Mortgage Perhaps one of the best things about ARMs is they…
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11 Dec 2013
By Mark Feder
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The Pros And Cons Of Making Biweekly Mortgage Payments

Mortgage Tips
Have you ever considered paying off the mortgage on your home in two biweekly payments rather than one monthly payment? It might seem like this wouldn't make a difference, but the truth is that biweekly payments really do add up more quickly. Since there are 52 weeks in a year you will end up making 26 payments in total – which is equal to 13 months rather than 12. This means that your mortgage will be paid off more quickly and you will save money on interest payments in the long run. This arrangement might be the best for you…
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10 Dec 2013
By Mark Feder
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The Low Down On The HUD-1 Settlement Statement

Mortgage Tips
When preparing for a closing on your refinance or home purchase, one of the documents you will be provided with a few days before closing is a HUD-1 Form. This form provides you with valuable information about your loan. While at first, this three page document may seem intimidating, if you understand what you see in each section, it is not as confusing as you might think. Let's break down the various parts of the HUD-1 and talk about what they mean. Loan Information On the first page of your HUD1, you will see your loan information at the top.…
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05 Dec 2013
By Mark Feder
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10 Questions You Should Ask Yourself Before Applying For A Mortgage: Part 2

Mortgage Tips
Yesterday you may have read the blog post on questions to ask yourself before applying for a mortgage. Here are 5 additional that you may want to think about before you go into your meeting with your loan officer. Here are questions 6-10 that you may need to get answers to before completing your application: 6. How Long Until We Can Close Our Loan? Loan closing times are based on a number of factors. Closing dates may be delayed if there are missing documents or other underwriting delays. Speak with the loan officer to get an estimate on the time…
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