by cambridgetitle | Oct 27, 2017 | Mortgages:
Are you a first-time home buyer looking for a special mortgage in Miami, Florida? If so, you are in luck. Lenders are now offering several affordable mortgage options which can help first-time home buyers overcome obstacles that made purchasing a home difficult...
by cambridgetitle | Oct 26, 2017 | Credit:, Mortgages:, TRID
Have you applied for a loan in South Florida and questioned what the TRID Loan Estimate will tell you? The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes: loan terms projected payments and loan costs cash and...
by cambridgetitle | Oct 14, 2016 | Mortgages:
The original phrase “mortgage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien – a legal claim on the home or property that secures the promise to...
by cambridgetitle | Sep 14, 2016 | Mortgages:
As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for...
by cambridgetitle | Sep 14, 2016 | Mortgages:
Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says: debts are existing financial commitments; a car payment is a debt a grocery bill is not. To calculate...
by cambridgetitle | Sep 14, 2016 | Mortgages:
What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt...
