FHA Dropping Mortgage Insurance Rates

by John Neil on January 28, 2015 · 0 comments

The good news for many would-be buyers is that FHA announced that effective January 26th they are lowering their monthly mortgage insurance rates from 1.35% to .85%. This affects all new mortgages with FHA. As far as a payment goes this would drop the monthly mortgage insurance from $112.50 to $70.83 on a loan amount […]


Why Use a Realtor in Logan, Utah?

by John Neil on August 21, 2014 · 0 comments

It is my personal opinion that it behooves a buyer in the state of Utah to use the services of a real estate agent. It’s true that you can find a home on your own via the internet or driving around town, but real estate agents do much more than just help you find the […]


I always tell my clients that it’s important for them to understand that not only do they have to qualify with their credit worthiness, but the property has to qualify for financing as well. For FHA and USDA financing this is even more important to understand because there are some very specific minimum property standards […]


Mortgage Myth Busting…Part 2

by John Neil on May 23, 2014 · 0 comments

The Myth: A part-time employee has to be on the job for 2 years before they can use that income for qualifying for a mortgage. Origin of the myth:I believe that this myth comes from the Fannie Mae and Freddie Mac guidance on income from secondary employment. In the Fannie Mae handbook it says, “The […]


Mortgage Myth Busting – Part 1

by John Neil on May 14, 2014 · 0 comments

Over the following few months I will be writing a weekly blog post about some of the common misconceptions that we hear about in the mortgage industry. Some of these false ideas are even ones that I had early on in my career as a loan officer. My goal is to inform the reader about […]


I’m the first to admit that it can sound extremely self-serving when a loan officer or Realtor says that “now is the best time to buy” or “you need to buy now before interest rates rise”, but the reality is that most experts are predicting interest rates to go up in 2014 and that will […]


Call Me Weekends or Evenings!

by John Neil on October 25, 2013 · 0 comments

Some loan officers have set times when they respond to voicemails or emails and some don’t respond at all.  Because buying or refinancing a home can sometimes be a confusing process, I have made it a point in my business to be as available to my clients as much as possible. I have been known to respond […]


One of the most common questions I get from buyers and Realtors is, “how long will it take to get the financing done?”.  This is an obvious question because the answer will help determine an appropriate date for the settlement deadline and the financing and appraisal deadline. There are also many other ways that the financing can affect […]


Ok so I figured I’d go back to the basics for this blog post because there is always somebody out there that doesn’t have a clue about what it takes to qualify for a mortgage, and because the guidelines for qualifying are always changing. I think the best way to tackle this topic is with specific […]


As of September 25th, 2013 the USDA office in Salt Lake City is taking about 35 calendar days to process a USDA mortgage application.  This does not take into account the length of time it takes your lender to take care of their side of things, including all of the processing, the appraisal, the underwriting, […]

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