General Mortgage News

Mortgages and Bank Statements: What is Considered a “Large” Deposit?

October 3, 2014 General Mortgage News

One of the mortgage underwriting conditions that homebuyers tend to find most annoying is the request to source a large deposit that appears in their bank statement.  Payroll deposits and transfers from other verified accounts will not be questioned, however, miscellaneous deposits that appear in bank statements may draw the attention of the mortgage underwriter.  […]

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Allegheny County Property Tax Relief

March 13, 2011 General Mortgage News

  Homeowners in Allegheny County are eligible for some relief from property taxes.  Under the Homestead Act, residents of Allegheny County are able to reduce the tax assessed value of their primary residence by $15,000.  For example if the tax assessed value of your home is $140,000, you can apply for the Homestead exemption and […]

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Does the $8000 Homebuyer Tax Credit Need To Be Repaid If I Sell My House?

January 26, 2011 Buying a House

The $8000 tax credit that expired last June placed a lot of new homebuyers in their very first house. Most of these first time buyers probably planned on owning these homes for years and years to come. We all know that sometimes life gets in the way of even the best laid plans. Unexpected life […]

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Pittsburgh Refinance

January 22, 2011 General Mortgage News

Today’s historically low interest rates should be investigated by every homeowner with a mortgage balance.  Feel free to call me to crunch the numbers and see if you can benefit from a reduction in payment, a reduction in term or both!   We never know where rates will be in the future.  In the 15 years […]

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Does the $8000 Homebuyer Tax Credit Need To Be Repaid If I Sell My House?

January 7, 2011 Buying a House

The $8000 tax credit that expired last June placed a lot of new homebuyers in their very first house.  Most of these first time buyers probably planned on owning these homes for years and years to come. We all know that sometimes life gets in the way of even the best laid plans.  Unexpected life events such as […]

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Pay Off That Home Faster with a 15 Year Mortgage

December 31, 2010 General Mortgage News

The main benefit that is often touted during a refinance boom is that those who qualify can often lower their mortgage payment by several hundred dollars per month.  The new payments advertised with these lower monthly payments are typically for 30 year mortgages.  No doubt, there are substantial savings to be had with these lower payments, […]

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Consumers can now check the License of their Loan Officer

December 30, 2010 Buying a House

The Nationwide Mortgage Licensing System, better known by its acronym NMLS, has a site for consumers to look up licenses for companies or individuals that they are considering working with to obtain a mortgage.  If you as a consumer are interested in verifying a license yourself, simply visit… http://www.nmlsconsumeraccess.org/ Knowing who you are dealing with […]

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