Lawrence's Blog

Check out this link I found in regards to seller funded downpayment assistance programs.  Last year the Bush administration did away with Seller Funded DPA programs, stating the reason was becase the default rates were two to three times that of standard mortgages.  The Ironic thing is this, the ...

Ok people, this one is quite a bit off topic you might say.  I have a question to everyone out there in Internet land in regards to the most recent media publishing of a picture of Michael Phelps smoking a bong.  I am curious as to the thoughts and oppinions to people in general and their reactio...

In today's climate and market place, your credit report is more important than ever before.  Your credit report is a record of your credit activities. It lists all of your credit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken agai...

Government loan programs FHA loans An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in...

Scoring your Credit - How's your FICO? In today's increasingly automated society, it should come as no surprise that when you apply for a mortgage, your ability to pay can be reduced to a single number. All the years you've been paying your mortgage, car payments, and credit card bills can be ana...

This is just one tip to help get your home sold quickly. To get your home sold quickly, it's important that other agents in the area show it to as many potential buyers as possible. The first thing a good agent will do when working with buyers is talk to the buyer and learn what kind of home they...

Closing costs: Closing costs may not be used to help meet the minimum 3.5% downpayment requirement. Closing costs are not considered in the mortgage amount/downpayment calculation for purchase money mortgages. LTV: For purchase money mortgages, the LTV is 96.5 percent, i.e., the reciprocal of the...

The Down Payment The amount you have available for a down payment will affect what types of loans for which you can qualify. Down payments typically range from 3 to 20 percent of the sales price for the property. Tips for Accumulating a Down Payment SaveLook for ways to reduce your monthly expend...

Scoring your Credit - How's your FICO? In today's increasingly automated society, it should come as no surprise that when you apply for a mortgage, your ability to pay can be reduced to a single number. All the years you've been paying your mortgage, car payments, and credit card bills can be ana...

You've finally found the home of your dreams. There's just one thing standing between you and your new house: The down payment and/or closing cost.  In most cases your realtor can generally negitiate for the seller to pay a portion (up to 6% of the sales price) or all of your closing cost.  That ...