Tag Archives: home loan

No Money Down Financing?

Posted on October 25, 2019 by Joyce Albert

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Yes!  . . . and it is not a gimmick nor is it VA. It is a little known federal program called USDA Rural Development. Unlike most loans, a USDA-RD loan is unique in that the property itself is the … Continue reading →

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Reverse Mortgage… a Relief for Seniors

Posted on October 23, 2019 by Joyce Albert

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All of us have seen the advertisements on TV about the ‘Reverse Mortgage’ – but how many of us really believe a TV commercial? Is it just a gimmick so the bank to get hold of our house? Well, the … Continue reading →

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Buying a new Home? . . .Warning!!!

Posted on August 27, 2019 by Joyce Albert

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NO ‘mysterious’ deposits to your bank accounts – Borrowing money for a down payment to buy a home is an absolute ‘no-no’ in the world of mortgage lending. If there is a chance you may not have enough for the … Continue reading →

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Principle, Interest, PMI, Escrow – What’s it all About?

Posted on August 19, 2019 by Joyce Albert

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Principle and Interest The first item on your house note will be the  Principle and Interest (P&I) calculation based on the original amount of your loan. Using a good Mortgage Calculator, simply plug in the current interest rate and the … Continue reading →

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Closing Costs

Posted on January 22, 2019 by Joyce Albert

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When planning to buy a home, most people save for their down payment, but give little or no thought to closing costs. . . or if a first time homebuyer, may not know what closing costs are. Closing costs are … Continue reading →

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The Power of Interest

Posted on January 2, 2019 by Joyce Albert

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If you listen to the news even once in awhile, you’ve probably heard a commentator make reference to interest rates… and how they are helping to stimulate the economy. If the whole topic about interest rates makes you yawn, wake up!!  You … Continue reading →

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How Much Home Can You Afford?

Posted on May 21, 2014 by Joyce Albert

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As you’ve probably seen by now, there are beautiful homes in every price range. Right? And with so many homes coming on the market every month, how can you possibly choose? Well, the answer is, take it in logical steps. … Continue reading →

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Orleans Parish, First Time Homebuyers

Posted on March 10, 2014 by Joyce Albert

Are You a First Time Homebuyer? . . . if so, you may be eligible for a ‘Soft Second’ A ‘soft second’ is money provided only to first time homebuyers. The program will provide funds, up to $65,000, to cover your down payment … Continue reading →

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Improve Credit Scores with NO MORE Late Payments

Posted on January 5, 2014 by Joyce Albert
Increase Income

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If you earn enough to pay your bills, but are always just a day ot two late, this small adjustment to your bill paying methods could save you lots of money and add an add’l 50 points to your credit score. … Continue reading →

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Free Money for First Time Homebuyers

Posted on December 31, 2013 by Joyce Albert

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Yes!   . . . And it’s called a ‘Soft Second’ A ‘soft second’ is money provided only to first time homebuyers. The program will provide up to 20% for a down payment (limited to $30,000 and a $200,000 home price … Continue reading →

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Rent to Own, Lease Purchase, Owner Finance

Posted on August 11, 2012 by Joyce Albert
poor credit

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NO Money?  NO Credit?  . . . .NO Problem! Rent to Own . . . .                 Lease Purchase . . . .                                 Owner Finance . . . . First of all, if the first line sounds a bit dumb, … Continue reading →

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Free Credit Scores

Posted on October 9, 2011 by Joyce Albert

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… and Credit Reports Quite often people may know their credit isn’t ‘stellar’, but when thinking about buying a home, they would like to know ahead of time just how bad (or good) it is. . . and often to their surprise, they … Continue reading →

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‘Short Sale’ Tips for Sellers

Posted on July 15, 2011 by Joyce Albert
FHA financing

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Navigating Short Sales: What to Do When the Sale Price Leaves You Short If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of … Continue reading →

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FHA Loans

Posted on June 25, 2011 by Joyce Albert

What is an FHA loan? The word ‘loan’ is a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What the FHA does is insure loans so that lenders can offer mortgage assistance to … Continue reading →

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401K Funds Used for a Down Payment

Posted on June 25, 2011 by Joyce Albert

Reprint from The Mortgage Professors Website, April 19, 2004, Revised November 28, 2006, October 2, 2007, Reviewed April 10, 2011 —  © 2011 Mortgage Professor The cost of using funds in a 401K as down payment should be compared with … Continue reading →

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What is ‘Agency’?

Posted on June 21, 2011 by Joyce Albert

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The LA Real Estate Commission requires that when a real estate agent meets you for the first time, face to face – and before showing you homes, discussing financing, or anything other than simply answering questions  – that we provide you … Continue reading →

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Pre-QUALIFICATION or Pre-APPROVAL?

Posted on June 18, 2011 by Joyce Albert

What’s the difference??? There are three types of home-sales that require you to be Pre-Approved. REO’s (home foreclosures) Short Sales (sale price is lower than the sellers mortgage payout) ‘Relos’ (homes being sold by a seller’s relocation company) Add to that, ordinary … Continue reading →

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Loan Pre-Approval – Who needs it?

Posted on June 9, 2011 by Joyce Albert
credit score

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“If I’m not buying a repo or a ‘short sale’, why do I have to be pre-approved?”  The answer to this will quickly become obvious once you understand what it means to be a seller in today’s market. In fact, … Continue reading →

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Repos, Short Sales, and Pre-Approval… What Every Buyer Needs to Know

Posted on June 1, 2011 by Joyce Albert

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OK….this is it. 2012.  The year everyone says we will see more repos and ‘short sales’ than in 2010 or 2011. As bad as that sounds, it’s a huge opportunity for buyers. Unfortunately there are so many buyers who are … Continue reading →

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Mortgage Choices: FHA 203k? …or HomePath Loan?

Posted on May 1, 2011 by Joyce Albert

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In this market, agents are quite often asked which is better… An FHA 203k or a Fannie Mae Homepath loan? The following is a reprint from a blog by Justin McHood who works for Academy Mortgage and is based in … Continue reading →

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Do-It-Yourself Credit Repair

Posted on April 10, 2011 by Joyce Albert

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Have you had a bankruptcy in the past? Had debts that went to ‘Collection” and were written off? Do you think because bill collectors don’t call anymore, it’s all forgotten? Wrong!!  Not only is it not ‘forgotten’, you have to … Continue reading →

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