On the face of it, figuring out how a bank makes money is a pretty straightforward affair. A bank earns a spread on the funds it lends out from those it takes in as a deposit. The net interest margin (NIM), which most banks report quarterly, represents this spread, which is simply the difference between what it earns on loans … Read more…
You put a lot of effort into finding the right house, and now that your closing is just days away, you’re finally ready to start calling your new place home. Before this can happen, however, you should do a final walk-through of the property. What is a final walk-through? A final walk-through isn’t a home … Read more…
If you’re in the market for a new home, it’s important to know your credit score. A good credit score can lead to a better interest rate on your mortgage, while a lower one might present extra challenges. Need to improve your score? Here are a few things you can do. Check your credit. Start … Read more…
If you’ve resolved to improve your finances in the coming months, its best to have a solid plan to set yourself up for success. Here are three ways to help you better manage your money in 2018. Start a budget. A budget is just a plan for every dollar you earn, and there are a lot … Read more…
With mortgage rates slowly increasing is buying more affordable than renting? It’s no surprise that when headlines scream that rates are on the rise while others declare that rates are historically low, borrowers have questions and concerns. Historic context is key to understanding how rates behave. The downward trend of rates the last 20 years proves that … Read more…
It is commonly discussed that it can be expensive to buy a home however no one thinks about the cost of selling. Right now it is a sellers market so surely it can’t be that expensive to sell, right? Not always. Is your house really ready? Today’s homebuyer wants to be educated on the property … Read more…
You have accepted a new job offer and would like to purchase a home, the catch, you still have to fulfill the contingencies of the offer; such as background check, drug testing – all the normal employment criteria. The question is, when I can start looking for a home based on this particular situation. Fannie … Read more…
So, you would like a loan program tailored to your specific needs? In some cases this may be considered an “exception”, something that is outside of specific loan program parameters, i.e., a credit score requirement, down payment, property type, lower interest rate, waiving a fee – these would all be considered exceptions. Your … Read more…
During tax season there is an active search for more deductions in order to reduce your tax liability. Unfortunately the ability to take deductions is largely reduced once the tax year is closed out. For this reason savvy consumers begin their quest for lower taxes early in the year, giving them the highest deductions when … Read more…
If you have been on www.doctorloanprograms.com for more than 2 minutes you probably realize that there are several great options available for a doctor buying a house! Some lenders in certain states even allow 100% financing with no mortgage insurance, which may seem too good to be true and prompt you to ask- Can I … Read more…