Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com
RECENT BLOG POSTS
Let's Talk About Home Equity from FHA.com video on Vimeo.Equity is an important term to understand when you're applying for any kind of mortgage loan, but for some loans equity is a larger factor than others. For example, when you apply for a new purchase FHA loan to buy a home, you start out wit...
07/24/2016
Watch "The Appraisal Fee" from FHA.com on Vimeo.FHA loans, like their conventional counterparts, have closing costs, fees, and expenses all borrowers will need to budget and save for. One such fee is the FHA appraisal fee.The video linked to above (click the image or the link to view on Vimeo.com...
07/15/2016
What are the differences between FHA home loans and conventional loans? There are several, some features of mortgage loans can vary depending on the lender, and state law may also affect how your home loan is handled depending on circumstances, but there are a few very important general differenc...
07/08/2016
We get many questions in our comments section about how FHA loan rules may apply to a specific situation with regard to employment, pay, and verifiable income.Some potential borrowers want to know if having frequent changes of employment will negatively affect an FHA loan application (not necessa...
07/01/2016
A reader asks, "My husband is a co burrower on his mothers mortgage loan and he has been asking her to remove his name from it but she hasnt. The mortgage has affected his credit and has made it hard to get a home of our own. Can his name be removed from the mortgage or is this something we need ...
06/26/2016
The government's consumer protection agency, The Consumer Financial Protection Bureau (CFPB), has a page on its official site explaining the differences between a fixed rate mortgage loan and an adjustable rate mortgages, sometimes known as ARM loans.According to the CFPB, "The difference between...
06/19/2016
There are many questions about FHA home loans, especially where interest rates are concerned. Do you know how the FHA loan process works when it comes to negotiating rates or choosing a fixed rate or an adjustable rate mortgage loan? Here are some of the most common questions and answers in this ...
06/09/2016
Tired of renting and looking to purchase a home of your own? There are many questions many first time home buyers or first time FHA loan applicants have. Here is a list of some of the most frequently asked questions about FHA mortgages.Is There An Income Limit For FHA Loans?No. FHA mortgages are ...
06/04/2016
A reader asked us a question recently in the comments section about the HUD Good Neighbor Next Door program. "I am a 13 year veteran Corrections Officer of the Maryland's DCSCS and I wanted to inquire as to whether or not I qualified for the Good Neighbor Next Door Program."The HUD Good Neighbor ...
05/26/2016
A reader got in touch with us recently to ask a question about wells and FHA loan approval. "Is a flow test required on a pre-existing drilled well in order to get financing using FHA? This is in a town where there is no public water and a drilled well is the normal. Well has passed all other tes...
05/20/2016
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Bruce Reichstein

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