11 September

The iLoan Lock and Shop Program

Many buyers are concerned about rising mortgage rates and the implications on their plan to buy a home or sell their home and then buy another home.  The frequent question is, “Can I lock in my interest rate before I find my home?”  Typically one can’t do this until they have a fully executed purchase […]

21 August

Fannie Mae Increases Down Payments on MyCommunity® and Standard Loans

In another backward-thinking move, Fannie Mae has very subtly announced that they will be increasing their down payment requirements by decreasing their maximum Loan to Value Ratios for MyCommunity® mortgages and for standard mortgages on 1-unit primary residences effective on or after the weekend of November 16, 2013.  The previous allowed down payments were at […]

17 August

The FHA 1 Year Waiting Period After Short Sale, Bankruptcy or Foreclosure – Back to Work

Where was this three years ago?  Better late than never I suppose.  FHA is now insuring loans to homebuyers who have experienced an Economic Event (Short Sale, Bankruptcy, Deed in Lieu of Foreclosure or Foreclosure) in the past and can document that (1) their certain credit impairments were the result of a Loss of Employment […]

10 July

Planning Your Home Purchase With a Mortgage Recast

Often times, seemingly in a fantasyland, home buyers might want to buy their new home first non-contingent on a home sale and sell their retained home shortly after moving into their new one without a financial inconvenience.  They might want to do this to get a better price due to negotiating from a position of […]

29 May

2 days before the end of the world…. ok, maybe not quite.

MI (Mortgage Insurance) on FHA loans is making another big change and you’ve got til the end of the day this up coming Friday! For those not aware of the specifics to MI with FHA loans there are essentially 2 different kinds of MI. An upfront MI which is added to the base loan amount (called […]

17 May

Principles of Locking or Floating Your Mortgage Rate

At some point during the application process, your mortgage rate needs to be locked in.  This short video will provide you with the basics regarding “locking” or “floating.”  For more information, follow our interest rate forecasting page or call your loan officer for details.  Enjoy the show! Adam Duckwall Your St. Paul Digs Agent The […]

5 May

Tell a Veteran to Miss a Payment to Qualify for a Short Sale and You May be Up Against the CFPB

Statistically, over half of the Consumer Finance Protection Bureau (CFPB) complaints to the Office of Servicemember Affairs (OSA) have to do with mortgages.  Of these, 58 percent of them had to do with loan modification, mortgage collection practices or foreclosure . . . and yes . . . short sales would fall under this category.  […]

3 May

The Only 10 Reasons a Lender Needs Tax Returns for a Fannie Mae Mortgage

Giving a pound of flesh in income and asset documentation has become the norm but it’s likely that unjustified lender paranoia has led them to ask for a bit too much of their clients.  My recent rant on this issue concerned verifying large, non-payroll deposits but now my rage has turned to the simple request […]

28 April

Different Mortgage Types and What They Mean to Buyers and Sellers in a Competitive Market

This podcast outlines the differences between Minnesota mortgage pre-approvals and how they affect purchase transactions.  Homebuyers and home sellers can learn the risks and benefits of each different type and how they relate to their transaction.  This is essential information for understanding the implications of your choice on loan type for your purchase in a […]

22 April

You’re A First Time Homebuyer? So What!

I know, my headline may be a little offensive to some, but I had to get your attention. This is going to be well worth your 4 minutes to learn a few things about first time homebuyers and first time homebuyer programs. I’m sure you have heard of Toys R Us and Babies R Us, right? […]

Twin Cities Expert Agent

I Love Referrals

651.353.4650

adam@adamduckwall.com

Web Design by:

kemteck-logo

Copyright 2013 | Privacy Statement | Terms of Service