Tag

FHA loan

30-Year FHA? “Fuhgeddaboudit”

FHA Rates — and Especially Fees(!) — Soar Higher Prospective borrowers obviously care about the face rate on their mortgage, but what they should really care about is what’s called the “A.P.R.,” or Annual Percentage Rate. It’s the latter number that captures the various fees that the lender is charging, and reflects the true cost...
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Low Appraisal Double Jeopardy

Sticking With the Bird in the Hand The reason that Buyers and Sellers typically renegotiate the price when a home appraises low is that the Seller has no guaranty that . . . it won’t happen again. Either with the same Buyer, and another lender. Or, if they scuttle the deal, with another Buyer and...
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How to Generate Goodwill With a Realtor

Great Client Service — For a Non-Client! How does a lender generate goodwill (and future referrals) with a Realtor?  (this Realtor). By quickly getting back to them with the answer to an obscure question on FHA loan processing fees. On a Saturday night. On a loan they’re not even handling! Thanks, Keith! (That would be...
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