Inland Empire Direct Mortgage Lender | FHA VA USDA HARP 2 Home Loans » Closing Costs

Where Does My Earnest Money Go?

Brad Yzermans — Sun, 28 Mar 2010 20:21:45 +0000

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. According to Wikipedia: Earnest Money – an earnest payment (sometimes called earnest money or simply earnest, or alternatively a [...]

What Does Title Insurance Protect Me From?

Brad Yzermans — Sun, 28 Mar 2010 20:13:44 +0000

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged. Many different occurrences can come into play to warrant the need for title insurance. The title company responsible will then take on the legal expenses to defend the property [...]

Calculating The Net Benefit Of A Refinance Transaction

Brad Yzermans — Sun, 28 Mar 2010 18:49:43 +0000

Calculating the net benefit of refinancing can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the standpoint of lowering your interest rate. Although there are several reasons to refinance, lowering your mortgage rate to save on interest payments over [...]

Making Sure Your Cash-To-Close Comes From The Proper Source

Brad Yzermans — Sun, 28 Mar 2010 18:21:33 +0000

Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have been signed due to the [...]

What You Need To Know About The Home Inspection Process

Brad Yzermans — Sun, 28 Mar 2010 17:55:49 +0000

Congratulations on finding a house! You now have ten (10) days from when you signed the purchase and sales agreement to have a home inspection. Chances are your real estate agent made the offer contingent upon a satisfactorily home inspection and obtaining mortgage financing. What Is A Home Inspection? According to Wikipedia, a home inspection [...]

Top 8 Things To Ask Your Lender During The Application Process

Brad Yzermans — Tue, 23 Mar 2010 05:42:09 +0000

Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end up getting frustrated or hurt because their expectations were not met. Here are the [...]