Nick Pakulla Mortgage Lender Loan Officer in Maryland (MD), the District of Columbia (DC), and Virginia (VA)

Linda makes a point about an appraiser requiring something very trivial and causing major problems for her transaction.  This is another reason why working with a local community bank with direct access to underwriters is crucial.  Here at my bank, 1) we use a local rotation of appraisers, so we ...

With the new year approaching (wow it's almost 2011 already?) and "best of" 2010 information coming from other sources, I thought it would be fitting to post a recap of what happened to mortgage rates in 2010.  2010 presented an unexpected rollercoaster ride when it came to mortgage rates.  We we...

Marcie has an excellent blog post explaining the transfer and recording taxes in Montgomery County MD.  Remember, at my bank we get out the final Hud's DAYS before settlement and I personally walk you though the Hud so there are no surprises on settlement day! Original Source:  Montgomery County-...

FHA Condo Expiration of 12/7/10 Now Extended!! In what seems like a last ditch effort (without any warning that I know of) FHA has extended the condo projects that were set to expire December 7th 2010.  The new expiration dates are based off of the initial project approval year.  Great news for c...

I stumbled across a very interesting closing cost survey by state over on bankrate.com and figured it was worth sharing.  In 2009 and 2010, Bankrate surveyed one area in 49 states, two areas in California (Los Angeles and San Francisco) and the District of Columbia.  It is not clear how many diff...

Should I float my mortgage rate?  Should I lock-in my mortgage rate?  I've said it before, and will say it again!  I always recommend borrowers lock-in their interest rate instead of deciding to float their loan.  There are a few simple reasons at play here, and I'll explain how the decision to f...

Now is truly a good time to buy a home even if you may be underwater!  I have been running across a lot of potential sellers who don't want to sell their current home because it is not at the value they want it to be and some even have to pay some money to get out.  Well, I am questioning whether...

With mortgage rates at their all time lows and predictions that mortgage interest rates will edge up in 2011 and 2012 there is a huge long-term interest savings for home buyers to buy now instead of waiting.    Some scenarios: $300,000 borrowed Interest paid over 30 years with current market rat...

Last year FHA announced that they will be beginning a condo recertification process for condos that were approved prior to October 1, 2008, requiring that they are re-approved on or before December 7, 2010.  Well its hard to believe, but December 7th is almost here, and there are very few condos ...

This foreclosure suspension issue seems to be a very big deal.  A long drawn out process seems that it could bring lots of uncertainty to the housing market.  This is causing some of the big title insurance companies to not write title on these properties, thus lenders won't lend on some of these...