Your credit score is one of the most important variables in determining whether you qualify for a mortgage or not, and it is the most important with respect to the interest rate that you will get. Because of this, raising your credit score by a few points could be the difference between qualifying for a […]

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Even though FHA has become one of the most expensive loan programs in today’s market due to the high rate of mortgage insurance (See this blogpost), it still has some advantages that other programs do not offer. One of those advantages is that it allows potential borrowers to use income from a job that they […]

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From what I have heard and from my experience as a  landlord myself, it appears that the rental market in Cache Valley, Utah is extremely strong right now. With this in mind I thought that it would be a good time to write a blog post about some of the details for financing options on a […]

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FHA Getting Even Uglier

by John Neil on February 25, 2013 · 0 comments

Back in 2008 the FHA mortgage program was an oasis in the desert. While other mortgage programs were dying off or tightening guidelines, FHA was holding steady and still allowing people to get into a home with just a 3% down payment, cheap mortgage insurance, and low interest rates. In my personal business here in Utah there was a time […]

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Thoughts About a 15 Year Mortgage

by John Neil on February 22, 2013 · 0 comments

In this article I would like to take a serious look at the advantages and disadvantages of the 15 year mortgage. I am not going to say that it is better or worse than the 30 year mortgage, or an ARM for that matter, but I do believe there are situations where it does and […]

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Foreclosure Prevention Basics

by John Neil on February 22, 2013 · 0 comments

Unless you have been living under a rock than you have probably heard about the millions of homeowners that have lost their homes to foreclosure over the past few years. It’s a very sad thing and it’s scary to think that you could lose your home to the bank if you can’t make your mortgage […]

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Rural Housing Financing in Cache Valley, Utah

by John Neil on September 24, 2012 · 1 comment

The Rural Housing Mortgage is an exremely popular mortgage program in Cache Valley, Utah. It offers 100% financing, relatively low interest rates, and relatively cheap mortgage insurance, and there are many areas of Cache Valley that qualify. In this blogpost I will discuss some of the details of this programs, and some possible advantages and disadvantages. I […]

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Logan Utah Mortgages: FHA Appraisal Issues

by John Neil on September 12, 2012 · 0 comments

If you are in the market for FHA mortgage financing there are a few things that you should know regarding the FHA appraisal and some potential pitfalls with the FHA appraisal that could seriously derail your goal of buying a home. In this blog post we will discuss some of the things to be aware of […]

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Logan Utah Mortgages: New FHA Streamline Refinance

by John Neil on September 6, 2012 · 0 comments

FHA recently introduced a new streamline refinance program for borrowers whose FHA loan was endorsed by FHA before June 1st, 2009. The program still allows people to refinance without an appraisal and it also still only requires minimal documentation.  Basically, as long as you have a job, a 640 credit score, and you’ve made your mortgage […]

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Starting October 1st 2012, Rural Housing will be charging a little bit more for their upfront funding fee and annual mortgage insurance.  On refinance transactions the upfront fee will be going from 1.5% to 2% and the annual mortgage insurance is going up from .3% to .4%. On a loan amount of $100,000, that is a monthly […]

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