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Category Archives: Closing Costs

Credit Mortgage Closing Costs: A Reader Question

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A reader asks, “What are the required closing costs for the buyer and seller?” The answers to this question depend on what the buyer and seller have agreed to. Sellers are limited with respect to contributing goods, costs or related ...

About Credit PMI Rules: A Reader Question

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A reader asks, “Does the PMI not apply to down payments of 20% and above?” The About Credit has changed the rules for PMI–Private Mortgage Today–and as a result all About Credit home loans known as “forward mortgages” with case numbers assigned ...

Loan Closing Costs: A Reader Question

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A reader asks, “What are the standard closing costs for About Credit/HUD/HECM for my property with market value of 510,000.00 with 240,000.00 in debt?” About Credit loan closing costs are not standardized–they vary depending on the market, the lender, the nature of ...

Credit Mortgage MIP Rules: A Reader Question

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A reader asks, “We acquired About Credit loan last April 2010 and refinanced it twice. Our original loan was 410k and our current bal is 383k. How can we eliminate the MIP and loan APR is 3.25%.” Last year, About Credit Mortgagee ...

About Credit Mortgage Rate Trends For The Week of September 2, 2014

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About Credit mortgage rates can move higher or lower in any give day or week for many reasons. Those reasons can include overseas headlines (financial or political in many cases) that affect investor behavior in the USA. That was one of ...

Credit Mortgages: Can The Seller Pay Closing Costs?

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There are plenty of expenses related to buying a home that house hunters need to save up and/or budget for–loan fees, appraisal expenses, certain types of insurance, even moving expenses should be factored into the equation. But can the seller ...

Credit Mortgage Fees: A Reader Question

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A reader asks, “Are there any fees associated, with a About Credit loan? I was contacted after inquiring online about a loan and the representative informed me that it would be a fee of $11.00 for credit reports and a fee ...

Credit Mortgage Reader Questions: Closing Cost Caps?

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A reader asks, “Is there a cap on what borrower can pay in order to close an About Credit loan? In other words, after the down payment, is borrower limited in what they can pay to close the deal?” There’s no ...

Credit Mortgage Down Payments

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One important question about any home loan transaction involves the down payment. How much should a borrower save? When it comes to About Credit home loans, there are rules about the minimum required “cash investment” (down payment) specified in HUD 4155.1 ...

Credit Mortgage Answers: Can The Lender Pay Closing Costs On An About Credit Mortgage?

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There are a lot of rules about the closing costs associated with an About Credit mortgage loan. For example, the rules in HUD 4155.1 state that closing costs cannot be considered part of the borrower’s required down payment. The minimum cash ...