In an era of the credit crunch a common belief among borrowers is that they can no longer get zero down payment loans. While the free wheeling days of yesterday is certainly past us, there is still one loan program available that has a zero down feature. This zero down mortgage is available with a [...]
Posts under ‘Closing Costs’
Using the $8,000 Tax Credit to Cover FHA Loan Costs
Recently the FHA revised some of its guidelines and announced that they would allow first time home buyers to apply the $8,000 tax credit to offset the costs associated with obtaining FHA mortgage financing. Heather Barr over at The Phoenix Agent blog has a great blog post detailing all aspects of this provision. For one [...]
Interest Credit Affects Your First Mortgage Payment Due Date
A common question people ask me when I’m working on a loan is the date of their first payment. The way mortgage payments work, you make your payment at the end of the month. This is different than rent, where you pay at the beginning of the month. Meaning, you pre-pay for the month to [...]
