Kim Justice - Real Estate Services in South Carolina
Homes for sale in Columbia, the Midlands, Chapin, Irmo, Lexington, South Carolina CENTURY 21 Bob Capes Realtors
Mortgages - Library of Articles and Advice

Mortgage Articles and Advice
How Much House Can You Afford?
   Debt-to-income Ratios
   Your Monthly Income - the way Lenders Figure it
   Your Maximum Monthly Mortgage Payment
   The Rest is Easy - Sort of
 
Your Down Payment Affects Everything Else
   Analyzing Your Savings - the First Step
   Mortgage Program Choices
   Shopping for Interest Rates
   Writing Your Offer
   Conclusion - Look at Your Savings First
 
Documenting Your Assets & Verifying Your Down Payment
   You can't just "come up" with the money
   Checking, Savings, & Money Market Accounts
   Stocks, Bonds, Mutual Funds, etc.
   Gifts from Family Member
   401K or Retirement Accounts
   Selling Personal Property
   Help from Employers
   Savings Bonds
   Borrowing to Come up with a Down Payment
 
Where Does Mortgage Money Come From?
   The Olden Days
   How it works now
   Mortgage Backed Securities
 
Different Types of Lenders
   Mortgage Bankers
   Mortgage Brokers
   Wholesale Lenders
   Portfolio Lenders
   Direct Lenders
   Correspondents
   Banks
   Savings & Loans
   Credit Unions
 
Advantages of Different Types of Lenders
   What kind of Lender is Best?
   Portfolio Lenders
   Banks and Savings & Loans
   Mortgage Bankers
   Mortgage Brokers
   Wholesale Lenders
 
When REALTORS® or Builders Recommend a Lender
 
Things You Need When You Apply for a Home Loan
   "Alternate" Documention versus Full Traditional Documentation
   The Actual List of things you need to get a quick loan approval
 
Closing Costs When Buying or Refinancing a Home
   Introduction
   Lender Associated Costs - the "normal" ones
   Lender Associated Costs - the "other" ones
   Items Paid in Advance
   Impounds or Reserves
   Costs not Associated with the Lender
   Refinancing Associated Costs
   Asking the Seller to Pay Closing Costs - Advice and Rules
 
Mortgage Interest Rates - How it Works
   A Loan Officer's Rate Sheet
   Pricing the Loan
   Quoting Rates to You
   Locking in Your Rate
   Shopping for Rates
   Getting Reliable Quotes
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