Impound accounts, sometimes referred to as Escrow accounts in other parts of the country, are funds set aside to take care of property taxes and insurance when due. Some loans require impound accounts while others leave them as an option. Let’s take a further look at these accounts and what they accomplish. Impound Accounts Explained […]
The term “forbearance” has gotten a bit of attention over the past few weeks. Unfortunately, homeowners often seek out a forbearance agreement without fully knowing all the implications or understanding exactly what forbearance is and is not. The term has come to the forefront lately as the number of the unemployed mounts and homeowners may […]
There’s really no question the VA home loan is the premier option for those who are eligible and want to come to the closing table with as little cash as possible. In fact, the VA home loan doesn’t require a down payment at all. Zero. The only other loan program that doesn’t need any type […]
Wondering how your new mortgage loan will be handled now that many of us have been officially considered “non-essential?” Well, for one, the mortgage industry is up and running regardless of any status. Yes, there are many who are currently in a work-from-home status and don’t have an official office to go to, at least […]
If you’re like many, you’re probably working from home these days. All so-called “non-essential” employees have been asked to stay home and work remotely. For some, this takes some getting used to. There are no other employees around, no office chatter and the communication between coworkers is done either by phone or via online meetings. […]
Are you getting ready to take the leap? Are you wondering if you should go ahead and lock in your rate now? Or maybe wait a bit to see what happens? We get that. But let me take some time here to provide you some suggestions as the best course of action for your situation. […]
There are several types of closing costs involved when financing or refinancing a home. Some are lender fees while still more are non-lender fees. We’re talking about processing fees, document preparation, title insurance and others. Yet two of these fees alone are expressed as a percentage of the loan amount. Those fees are a 1% […]
Getting a home loan is indeed a process and a simple application will go through various stages before it finally funds. In the early stages, even before you’ve submitted your application, you speak primarily with your loan officer. Your loan officer will provide various loan options based upon your current situation and your goals. Your […]
Appraisal management companies essentially do one thing: manage appraisals. Appraisal management companies have been around only a relatively short period of time compared with the rest of the mortgage industry, but they play an important role. An appraisal management company works directly with a lender to receive an appraisal order, place the order, receive it […]
The New Year is upon us and if you’re going to start the New Year off jumping into the homebuying market. 2019 is just now appearing in our rearview mirror. There were several changes made which will all take effect on January 1, 2020. Many of the changes are more like “tweaks” to existing regulations […]
Sign up to receive the latest from C2 Financial Home Loans
