Should You Refinance? A lot of people ask me if they should refinance simply based on what the current interests are however that is only one component of the equation. Goals Here are the two questions I ask up-front that help make things simple. #1. What is your primary reason for refinancing?
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08/22/2012
USDA Loans in Chesapeake Ranch Estates Yes its true, as of October 1, 2012 there will be no more USDA or Rural Development loans in the Chesapeake Ranch Estates in Lusby Maryland. Unfortunately after the most recent census they are no longer considered eligible per the population density. This
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08/21/2012
New USDA Mortgage Insurance As of October 1, 2012 the annual MI on all USDA loans is increasing from .3% to .4%. This should not be a huge concern as the rate is still relatively low especially compared to FHA which is at 1.25%. On a 200k loan the usda monthly mortgage insurance will go from $5
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08/21/2012
Most Frequently Asked Questions About USDA Loans Q. How much money do I need? A. There is no down payment required however there are closing costs and you will need an earnest money deposit. Closing Costs – Are negotiated in the contract. The seller can contribute up to 6% and the lender can pr
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08/15/2012