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An adjustable rate mortgage, or ARM, typically has a start-rate that is set for a period of 3, 5, 7, or 10 years.  After that initial period most ARMs adjust annually.  How they adjust will depend upon the terms agreed to in your note, or shown on your adjustable rate disclosure. Here is the most…

Escrow has multiple meanings, but when we refer to escrowing mortgage payments, we refer to this:   We the lender will be responsible for holding your property tax and insurance money and will make the payments of these bills for you.  When you make your monthly mortgage payment, not only will you pay your mortgage,…

  The best way to improve your credit score will depend on your individual situation.  But here are some great tips: 1.  Whatever you do, the most important thing is to make sure you don’t get any collections.  Setup automatic payments for utilities if you can, and make sure your checking balance will continually cover…

1.  Assuming you qualify, or don’t qualify, for a loan.   There are many things we consider when determining whether to lend to a potential home buyer.  What you read in the newspaper regarding requirements is not necessarily true.  What one loan officer tells you is their policy, is not necessarily the universal policy for…

After you purchase your home, you’re going to start receiving annual property tax bills.  A copy of the bill will also be sent to your lender if you are escrowing your property taxes.  Many people, when seeing their assessments rise, will want to appeal their taxes.  Most jurisdictions will want you to appeal within 30-45…