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Loan Risk Table

This table shows the risk level to lenders based on the loan balance compared to your homes value.  For example if you apply for a 50k loan and the home is worth 100k the loan to value ratio would be 50% and would be considered extremely low risk.   The credit score risk table shows […]

Appraisal Condition Rating Definitions

Freddie Mac and Fannie Mae have an ongoing effort in place to enhance accuracy and quality of loan data. One piece of this effort is to standardize the way properties are characterized during an appraisal. The categories below outline the new standards for documenting the condition of a dwelling during the appraisal process. View Factor(s) […]

ARM vs Fixed Rate Blog

A Fixed-Rate Mortgage or Fixed Rate Loan applies the same interest rate toward monthly loan payments for the life of the loan. Fixed-Rate Loans are more straightforward and easier to understand than Adjustable Rate Mortgages (ARMs) or ARM mortgages. They are also more secure for the buyer, and are popular with first-time homebuyers looking for […]

Interest Only

-Extremely low payments… -Interest Only loans are typically Adjustable Rates with fixed terms of 1,3, 5, 7, and 10 years in length. -Usually the adjustable term matches the interest only term. That means after the fixed period the loan simultaneously becomes adjustable and the payment amortizes with principal and interest. An Interest only mortgage can […]

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