Author: Maddie Campbell

10 Mortgage Myths

1. Your interest rate reflects the true cost of your mortgage. Your annual percentage rate (APR) is actually the figure that represents the true cost of your mortgage. It is inclusive of your interest rate, points, mortgage insurance (when applicable) and other fees, including origination and underwriting fees. The APR is typically higher than your interest … Continued

Good Neighbor Next Door Sales Programs

The Neighbor Next Door initiatives are a collection of FHA’s home sales programs designed to help communities and promote homeownership. Help a neighborhood! Buy a home through HUD’s Good Neighbor Next Door initiative designed to encourage renewal of revitalization areas by providing law enforcement officers, firefighters, emergency medical technicians and teachers an opportunity to purchase … Continued

Can I remove Private Mortgage Insurance (PMI)?

If you secured a home loan with less than a 20% down payment, chances are your lender required mortgage insurance to cover the exposure in case you default. Once your equity position in the home reaches 20%, you will want to stop paying mortgage insurance (unless you have a FHA-insured loan, requiring premium payments for … Continued

U.S. Mortgage Rates Decline for a Fifth Week

“U.S. mortgage rates fell for a fifth week, reducing borrowing costs as home-price gains slow” reported the Bloomberg News, May 29, 2014.  “The average rate for a 30-year fixed mortgage was 4.12 percent this week, down from 4.14 percent and the lowest since October, Freddie Mac (FMCC) said in a statement on 5/29/2014. The average … Continued

Where Did All My Money Go?

Do you wonder where all of your money goes each month? You’re not alone. A sample of American workers were surveyed said they are determined to save more and spend less: 34% are determined to save a set amount each month. 28% plan to pay off credit card debt. 23% resolve to reduce monthly spending. Whether … Continued

Construction to Permanent Financing

If you’re looking to build and finance your primary residence or vacation home, OneTrust’s Construction-to-Perm loan may be right for you. One loan – one application. One time close – one set of closing costs. One-unit, single-family detached home. Primary residence or vacation home. Purchase a lot, build and finance construction. Interest-only payments during construction. … Continued

Renovation Financing to Turn Your House into Your Dream Home

FHA’s 203(k) loan program is designed to finance the purchase and renovation of your home, all in one loan. Could a 203(k) loan be right for you? Buy a “Fixer-upper” or REO property needing renovation Get funds to both purchase and upgrade your dream home Refinance and renovate your existing home What are advantages of … Continued


The word conjures up wonderful visions of being on vacation all the time. Sleeping late. Taking trips. Finally having enough time to indulge in whatever hobby or interest catches your fancy. We save for retirement in a variety of ways, working and waiting until the day when we decide that it’s time, whether that’s at … Continued

Interest Rate Lock

To actually lock your interest rate, you must confirm that you intend to lock-in your rate with your lender. You’ll then most likely have to sign a rate lock agreement. If you submit a loan application without a rate lock agreement, your interest rate is usually referred to as “floating” which could change until it … Continued