Picking Up the PACE

A bill aimed at regulating loans created by the Property Assessed Clean Energy (PACE) program is making national industry headlines. The PACE Act of 2017 aims to amend the Truth in Lending Act, a chief regulation governing big banks and mortgage companies, to include PACE lenders. If the bill is passed, PACE lenders would be […]

Is An FHA Loan The Right Choice For You?

Today, home buyers are faced with a plethora of mortgage options presented by qualified lenders. These include traditional fixed rate mortgages, adjustable rate mortgages, and interest only mortgages. Unfortunately qualifying and obtaining a mortgage is no easy feat. Anyone looking to own a home is taking on significant debt, and if their credit score is […]

Why Did Congress Eliminate the Child Tax Credit Mortgage Deduction

The congress, following an approval rate at historically low level, around 10%, voted the removal of the tax credit on earned income tax and the deduction of the mortgage interest and child tax credits from the tax code, beginning with the fiscal year 2014. This move aims to improve the way this 113th United States […]

Top 5 VA Loan Myths

There are numerous, very common and widespread myths when it comes to VA loans. Many of those who would qualify for a VA mortgage are put back by all the rumors that tell them these mortgages are very hard to obtain and even harder to pay back ,refrain from getting such a mortgage. However, you […]

End of Year Mortgage Tax Statement

Unlike rent, which you pay beforehand (i.e., your Jan. 1 bill covers your stay in the rental unit for that coming month), your mortgage payments are made at the end of your occupancy period. That means your Jan. 1 mortgage statement represents interest for December, making it a tax-break-eligible bill for this year. By accelerating […]

What is a VA Mortgage?

A VA loan is an amazing program that is eligible only to those who have been honorably discharged in the military or who are still active duty.  In order to be on a VA loan you must either be a veteran, or married to a veteran.  VA loans require NO money down up to the maximum $477,000 […]

What is an FHA Loan?

I’m often asked what an FHA loan is.  FHA loans were originated in the 1930’s during the Great Depression to insure lenders against default with the sharply rising defaults and foreclosures which is similar to our market today!  A few highlights of FHA financing include: As little as 3.5% down lower credit score restrictions higher […]

Homepath Financing 101

Homepath financing is not only available to buyers but it’s an amazing product that FannieMae offers on some of their bank owned foreclosures.  Key points, 3% down, no appraisal, no monthly mortgage insurance, up to 6% seller concessions towards closing costs, 10% down for investors, honestly…it’s amazing! Call me to get more information! Homepath Financing […]