Tag Archives | First-Time Home Buyer

7 Things An Idaho Real Estate Agent Should Know About Mortgage Approval

By on July 1, 2010 in Mortgage

While many experienced Idaho real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New regulation, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, secondary approval layering, rescission deadlines, property type, [...]

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Renting vs Buying An Idaho Home

By on May 28, 2010 in Real Estate

Buying an Idaho home versus renting is a big decision that takes careful consideration. While there are several biased sources that can make arguments for or against owning an Idaho home, we’ve found that most Idaho home buyers base their ultimate decision on emotion. Yes, there are some tax advantages of owning real estate, as [...]

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Idaho Mortgage Loan How Much Can I Afford?

By on May 9, 2010 in Mortgage

How much Idaho mortgage money can I qualify to borrow? This is typically the number one question Idaho mortgage professionals are asked by new clients. Of critical importance when considering Idaho mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for [...]

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Where Does My Earnest Money Go?

By on March 28, 2010 in Real Estate

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted. When a buyer makes an offer to buy residential real estate, he/she generally signs a contract and pays a [...]

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Understanding the FHA Mortgage Insurance Premium (MIP)

By on March 28, 2010 in Mortgage

* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1.  Up Front Mortgage Insurance Premium (UFMIP) – financed into [...]

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