What is Title Insurance?

Financing:, Mortgages:, New Homes, Selecting:, Title and Closing, Uncategorized

So what exactly is ‘title insurance’? Well, when a property is financed, bought or sold, a record of that transaction is generally filed in public archives. Likewise, records of other events that may affect the ownership of a property, like liens or...

10 Common Title Problems

Credit:, Financing:, Finding:, Going To Market:, Mortgages:, New Homes, Sales Process:, Selecting:, Starting:, Title and Closing, Uncategorized

Have you ever wondered why you need title insurance? Your home may be new to you, but every property has a history.  A thorough title search can help uncover any title defects tied to your property.  And, subject to the terms of the policy, your title insurance...

The Title Search Process

Going To Market:, Mortgages:

When you receive the keys to your new home, you may already have an idea about the work that goes into a successful closing.  However, few new homeowners recognize the efforts involved in searching and underwriting a title insurance policy – one part of your...

What Is The Debt-To-Income Ratio (DTI)?

Mortgages:

  Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says:  debts are existing financial commitments; a car payment is a debt a grocery bill is not. To calculate...

What Does Ability To Repay Mean?

Mortgages:

  What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt...

What Is A Qualified Mortgage?

Mortgages:

  As this video explains,  Federal laws put into effect in 2014 and  supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for...