By Marina Locks

Oct 10, 2013

What is the LTV and Why is it Important?

Definition What is the LTV on a home? The Loan to Value Ratio (LTV) calculates how much equity you have in your home. Equity is the difference between your home’s fair market value and the balance you owe on the property. It is important because it helps...

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By Marina Locks

Sep 11, 2013

Differences Between FHA and Conventional Home Loans

Government Insured Conventional loans are not insured or guaranteed by the federal government. This mortgage type adheres to the guidelines set by Fannie Mae and Freddie Mac. FHA loan is one of several government-insured/backed loans. Credit Score Having a...

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By Marina Locks

Jul 24, 2013

What is a HARP Loan?

If you have not been able to get traditional refinancing because the value of your home has declined, and you’re not behind on your mortgage payments, you may be eligible to refinance through the “Home Affordable Refinance Program.” Definition The Home...

Topic: Refinance
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By Marina Locks

Jul 10, 2013

What is a Real Estate Appraisal?

You’ve spent months trying to find your dream home. You finally find a house you could see you and your family in that is affordable. You may have been pre-approved for the property’s asking price and you’re ready to take the next steps to secure a...

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By Marina Locks

Jun 26, 2013

What Happens at Closing?

Closing Overview Do you know what happens at closing? Closing is one of the final steps in the loan process. The closing on a loan is where all the necessary legal paperwork is presented and signed. At closing, the ownership of a property is transferred from...

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