You’ve sacrificed for your country. Now it’s the country’s turn to reward that commitment — and one of those rewards just may be a Veteran’s Administration mortgage. A VA-backed mortgage offers highly competitive interest rates and other perks that regular loans don’t. To qualify for a VA-backed loan, you must be a service … [Read more...] about Lender’s Corner: VA-backed Mortgages An Appealing Option For Service Members And Veterans
Mortgage & Finance
Change In Flood Maps May Result In Insurance Hikes
Recent flooding in the state has made all Coloradans more aware of the risks of living in or near flood plains. Not only do homeowners worry about destruction due to floods, but also the cost of insurance that might mitigate those losses. Those costs are currently in flux, as FEMA continues its project to update flood hazard … [Read more...] about Change In Flood Maps May Result In Insurance Hikes
Lender’s Corner: Lock In Today’s Interest Rate While Shopping For Home
Did you know that an interest rate increase of just 0.25% can result in a $12,000 loss of home purchasing power and increased payments? In today's uncertain interest rate environment, Megastar's Lock & Shop allows you to lock in today's low rate BEFORE you have your dream home under contract. Borrower must obtain Credit … [Read more...] about Lender’s Corner: Lock In Today’s Interest Rate While Shopping For Home
Some Good News About Rising Mortgage Interest Rates
As predicted for some time, mortgage rates are on the rise. The average rate on a 30-year fixed-rate mortgage was up nearly 1 percentage point this April over April 2013, landing at around 4.5%. Experts are estimating that that rate will reach 5 or 5.5% by the end of the year. While this presents homeowners and buyers with … [Read more...] about Some Good News About Rising Mortgage Interest Rates
Tax Deductions For Job Relocation
The 2013 tax year has ended, but now is no time to forget about tax issues. This is the perfect month to start thinking ahead for next year, particularly if you’re planning a move. Provided that the move is job related, your expenses can be deducted for the 2014 tax year. For moving expenses to qualify as a tax deduction, the … [Read more...] about Tax Deductions For Job Relocation
FHA Help for Homebuyers Stung by the Recession
This month, we feature our continuing series in which we answer common questions regarding the loan process. Today’s question: I had financial troubles during the Great Recession that affected my credit rating. Will I be able to obtain a home loan? A. The Great Recession affected the finances of many people in ways that were … [Read more...] about FHA Help for Homebuyers Stung by the Recession
Consider the Effect of Discount Points on Loans – Lender’s Corner
This month, we feature our continuing series in which we answer common questions regarding the loan process. Today’s question: What are discount points? Discount points are essentially prepaid interest on your loan, with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage, the … [Read more...] about Consider the Effect of Discount Points on Loans – Lender’s Corner
Tips to Avoid Buying Costly Home Insurance
. Of course...as your home is the biggest investment you’ll ever make, you want great protection. Buyers will often wish they can pay for the best policy without thinking twice. But if you need to watch your dollars, here are some ways you can save money and still get great insurance. . . Shop Around and Compare Rates The … [Read more...] about Tips to Avoid Buying Costly Home Insurance