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Mortgage Term Glossary

Assurance Financial

A lender might set up an escrow account where they hold money that goes toward your property tax payments and homeowners insurance premiums. When insurance or property taxes are due, the lender pays the insurance company or government with funds from your escrow account. Home Inspection. Homeowners Insurance.

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Conventional Loan vs. FHA Loan: What’s the Difference?

PennyMac

What’s the difference between FHA and conventional loan options? Conventional Loan. Conventional loans by definition are loans that are not backed or insured by any government entity. In a conventional loan, you’ll be expected to pay at least 3% of the total loan as the down payment. FHA Loans: Pros.

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How to Hire the Best Orange County Home Appraiser

Sammco Real Estate Appraisal Group

You might be a home owner, a mortgage loan officer or even an appraisal management company. Appraiser websites should be designed to help you understand the appraisers experience and specialties, what areas they cover and any additional information that will be helpful in making your decision on who to hire.

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How to Buy a Rental Property: Get Tips from the Experts

PennyMac

For example, typical annual costs include things like: Insurance. He has earned the IRS’ Enrolled Agent designation for tax preparation and expertise, and advises that new investors do their homework before they buy. Speak with a Pennymac Loan Officer to explore your financial options. Property taxes. Maintenance costs.

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5 Key Property Features When House Hunting

PennyMac

When you are first shopping for a home, you may know that you want a garage, but you may not have considered all of the variables that go into the garage design, and which choice is right for you. Garage Design: Why it Matters. Here are several major garage design aspects to keep in mind as you house hunt.

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Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. This is the future of GSE using appraisers. It’s all curved.

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How to Get a Mortgage Loan

Assurance Financial

The exact amount you need to save up for a down payment depends on the type of loan you choose, the market conditions and your financial situation. That might be true, as putting down 20% allows you to avoid paying private mortgage insurance (PMI) premiums and can mean you get a better interest rate on your loan.