Dora Griffin's Blog

HOME PRICES - ECON 101 HOME PRICES - ECON 101 it really is that simple if one grasps the law of supply and demand.  There are several factors that continue to drive up home prices. For those who OWN a home (or have a home and a home mortgage), the market is great. For those in the home buying mar...

 Do's and Don'ts After Applying For A MortgageNavigating the Mortgage Maze: 10 Crucial Do's and Don'ts After ApplyingOnce you've submitted your mortgage application, it's crucial to tread carefully in the financial landscape to ensure a smooth approval process. Here are 10 things you should avoid...

REALTOR ADMIN FEE AT CLOSING A homebuyer has many real estate firms at his/her disposal to select the one that best suits them.  It is important to find an agent who represents the buyer as fully as possible. In selecting an agent to work with as a homebuyer, be sure and discuss the realtor admin...

APPRAISAL WAIVER CONSIDERATIONS What is an appraisal waiver? How can one get an appraisal waiver? What is the benefit of an appraisal waiver? Why would one not want an appraisal waiver?  What is an appraisal waiver?  An appraisal waiver is when the lender approves a home mortgage loan without req...

EQUITY LINE FOR DOWN PAYMENT In this tight inventory market the homebuyers who are most prepared to write a contract are the ones who will end up with the home.  Everyone in the homebuying market should get pre qualified for the purchase. On a financial level this ensures one has considered credi...

NO PRIVATE MORTGAGE INSURANCE (PMI) LOANSI'm sitting here in my office listening to a radio ad play multiple times regarding "no private mortgage insurance loans".   Homebuyers have learned to hate PMI insurance.  When a lender is offering NO PMI insurance, it gets their attention. Typically when...

HUD ANNOUNCES REDUCED MONTHLY MORTGAGE INSURANCE HUD announces reduced monthly mortgage insurance for FHA loans. It's been expected for a while there would be a change in either the monthly or up front mortgage insurance on FHA loans and now it's here.Monthly mortgage insurance is going down by 3...

Cash Out Refinances Are More ExpensiveIn 2022 Fannie/Freddie increased LLPAs (loan level price adjustments) for cash out refinances, making it more costly to pull cash out.Freddie Mac announced for 2023 a seasoning period of 12 months before cash can be pulled out of a property (note date to note...

Temporary Rate BuydownWhat is a temporary rate buydown and how does it work?  Sometimes we are in an unusual market and some tools are better than others for home buyers and sellers alike.  A temporary rate buydown is such a tool I encourage buyers to consider in today's market. Briefly a 2-1 buy...

Feds Funds Rate, Mortgage Rates and Inflation - Buckle UP!Waking up to pricing for long term mortgage rates this morning is like waking up with the worst hangover.  Yesterday we saw the Feds again raise their Fund Rate by .75%. They toyed with a full point increase, but settled on 3/4 point. The ...