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April 2017

Found 3 blog entries for April 2017.

Written by Robert H. Ruth

This is a great question. It is too bad that there is no absolutely correct answer. The best response is “it depends on your circumstances”.  Prior to diving into this topic, let’s identify:


The Basics:

Here are the basic aspects of each product.

  • Both products feature fixed rates meaning the interest rate and payment will not change for the duration of the loan.
  • The 30 year loan has a higher interest rate but a lower monthly payment. The lower payment increases a borrower’s affordability , but there is a tradeoff : the longer term means you will pay more interest over the life of the loan
  • The 15 year loan will have a lower rate but a higher monthly payment. The higher payment may decrease your
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Written by Robert H. Ruth

This is a very important question, often misunderstood by first time home buyers. It is easy to confuse the two, and they each have different purposes, so let’s look at each in greater detail.

Real Estate Appraisal

This is a report requested by the bank that is providing your mortgage financing as part of the application process. The purpose of the appraisal is to determine whether the house is sufficient collateral for the mortgage loan you are seeking.  Since home buyers typically cannot pay cash for the property, they need a mortgage loan, and the mortgage is simply a legal instrument that gives the bank an interest in the property in exchange for the financing. Before the bank loans the borrowers the funds for

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Written by Robert H. Ruth


There are many mortgage programs available for home buyers, but loans from the Federal Housing Administration (FHA) are often a great financing choice for first time buyers. In this article I’ll explain the 5 top reasons you should consider getting an FHA loan.

1) FHA Loans are available with only 3% down payments, and 100% of the down payment can come from a gift from a family member

Conventional loans often require the buyers to have at least 5% of their own saved money in the transaction, so a 3% down payment on FHA, combined with the ability to get all the funds for the transaction, including closing costs from a family member is very helpful.  This is a very important feature of an FHA loan because often

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