Who is Fannie Mae and Why Should I care?

Many Americans had little idea who Fannie Mae (Federal National Mortgage Association) was prior to 2006, except that they had fairly good bond rates that were considered “safe” investments. Now that the Credit Crisis has uncovered all sorts of facts on how the mortgage market works, most of us should be at least a little […]

Condo Lending Rules and Condo Loans

Many home buyers start looking for condos assuming that the lending world is the same for a condo or a home. It is not. Fannie Mae, the largest purchaser of U.S. loans, has added some requirements that single family home buyers don’t have to be concerned with. Here are some cases where your loan may […]

Adjustable Rate Mortgages

An Adjustable Rate Mortgage (ARM) has a variable interest rate component, which means the interest rate will change during the life of the loan. An ARM might be a tempting choice over a fixed rate mortgage because the starting interest rate is often lower than a Fixed Rate mortgage. Before determining which type of home […]

FHA 203k Renovation Loan

House Need Work? FHA 203k – The ReHab Loan It’s not unusual, especially in distressed real estate markets, to find homes have no appliances, trashed rugs and at least some damage. After all, homeowners that leave homes because of foreclosures and short sales have little incentive but common decency to deliver the home in great […]

How To Get Your Credit Report and Credit Score

Your Credit Score (also called FICO Score, after the Fair Isaac Corporation which created the software to calculate the score) is calculated by 3 credit bureaus: Equifax, Experian, and TransUnion. Each have their own website that you can access and pay for your credit report and score, either on a one-time basis, or have full […]