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From the monthly archives:

March 2010

Four Possible Reasons To Refinance

by Jonas Kruckeberg March 31, 2010

A mortgage is generally the largest debt most homeowners have to manage.  It’s a good idea to give your personal real estate finance portfolio a check-up at least once a year.
Since there are many reasons a homeowner may choose to refinance, we’ll take a look at the four most common.
1.  Mortgage Rates Drop:
Typically, the most common reason [...]

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How Much Can I Afford?

by Jonas Kruckeberg March 31, 2010

How much mortgage money can I qualify to borrow?
This is typically the number one question mortgage professionals are asked by new clients.
Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow.
In other words, what makes for a comfortable [...]

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8 Questions Your Lender Should Answer About Mortgage Rates

by Jonas Kruckeberg March 31, 2010

Simply checking online for today’s posted rate may not lead to your expected outcome due to the many factors that can cause each individual rate and closing cost scenario to fluctuate.
We can preach communication, service and education all day long, but it’s our ultimate goal to earn your trust so that you can be confident [...]

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California Releases Guidelines for 2010 New Home and First Time Home Buyer Tax Credit

by Jonas Kruckeberg March 30, 2010

The California Franchise Tax Board released the guidelines for the 2010 tax credit that everyone is raving about.
This is an update to last week’s post on the California tax credit extension. I will concentrate on answering several questions that have been raised and provide a few popular scenarios that many can relate to.
Now [...]

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What Do Appraisers Look For When Determining A Property's Value?

by Jonas Kruckeberg March 29, 2010

Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property.
A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection.
However, the appraiser actually already has a good idea of the property’s value [...]

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Where Does My Earnest Money Go?

by Jonas Kruckeberg March 28, 2010

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go?
A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted.
According to Wikipedia:

Earnest Money – an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good-faith deposit) [...]

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Renting vs Buying A Home

by Jonas Kruckeberg March 28, 2010

Buying a home versus renting is a big decision that takes careful consideration.
While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on emotion.
Yes, there are some tax advantages of owning real estate, as well as the potential to [...]

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What Does Title Insurance Protect Me From?

by Jonas Kruckeberg March 28, 2010

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged.
Many different occurrences can come into play to warrant the need for title insurance.
The title company responsible will then take on the legal expenses to defend the property for as [...]

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Understanding the FHA Mortgage Insurance Premium (MIP)

by Jonas Kruckeberg March 28, 2010

The FHA Mortgage Insurance Premium is an important part of every FHA loan.
There are actually two types of Mortgage Insurance Premiums associated with FHA loans:
1.  Up Front Mortgage Insurance Premium (UFMIP) – financed into the total loan amount at the initial time of funding
2.  Monthly Mortgage Insurance Premium – paid monthly along with Principal, Interest, [...]

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First-Time Home Buyer Credit Checklist

by Jonas Kruckeberg March 28, 2010

Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps.
Since there are so many rules and steps to follow, here is a simple list of Do’s and Don’ts to keep in mind throughout the mortgage approval process:
DO:

Continue working at your [...]

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