FAQs

WHAT IS PMI?
Private Mortgage Insurance, or PMI, is insurance payable to a lender or trustee for a pool of securities that may be required when taking out a mortgage loan. It is insurance to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property
CAN I BUY A HOME WITH LESS THAN PERFECT CREDIT?
Yes. Keep in mind that lenders don’t just look at your credit history, but also at your ability and willingness to pay in the future. I will be able to help you buy a home, even if your credit isn’t perfect.
SHOULD I PAY DISCOUNT POINTS?
When you pay a discount point, you are essentially paying part of your interest to the lender up front. This will lower your interest rate—as well as your monthly payment—over the life of the loan. One discount point is always equal to 1% of the loan amount. For example, one point on a $100,000 loan would require payment of $1,000 at closing. Generally speaking, the longer you plan to remain in a property or hold your mortgage, the more advantageous it is to pay points. There is no requirement to pay discount points; whether or not you decide to pay points is completely up to you.
WHAT IS A COMPARABLE SALE?
A comparable sale is a property that has recently sold and is similar to the subject property in most respects, including size, location and amenities. The selection of comparable sales is an important determining factor in providing an opinion of market value. It is the appraiser’s responsibility to adequately research the local real-estate market and to determine which comparable sales best represent the value characteristics of the subject property.

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