Tag Archive for: closing costs

How Much Does It Cost To Buy A House In California?

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Given that house prices and mortgage rates change over time, many homebuyers wonder, “how much does it really cost to buy a house in California?” The home’s actual price is just one of the costs buyers face when they decide to buy a house in California. There are a variety of fees along the way that are collectively referred to as closing costs.Read More

The “No Out of Pocket” Scam; Worst Advice Ever!

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Borrowers often send us refinance proposals from other lenders to review so we can either beat the proposal or give our blessing. One of the things that always scares us […]Read More

Four Steps to Prepare for Closing Day in Austin, Texas

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Closing day is the last step for Austin homebuyers in their loan process. All their paperwork gets finalized and the deed of the Austin property is officially transferred to the new owner. Here are four steps to help Texas homebuyers have an easy closing day!Read More

JVM Has A Down Payment Assistance Program; When Down Payment Assistance Programs Are Overrated

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JVM offers the Chenoa Down Payment Assistance Program (DPAP). The “assistance” is a 3.5% (of purchase price) 2nd mortgage that can be coupled with either a 96.5% loan-to-value FHA loan […]Read More

Average Closing Costs For Homebuyers In Texas

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Generally, when a lender refers to “closing costs” they are referencing the fees required as a result of a property transaction. Closing costs can be broken down into two basic categories: Lender Origination Fees and Third-Party Fees.Read More

Five Misleading Closing Cost Tricks the Big Banks Play

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We have been stealing a lot of loans lately from the big banks b/c our service is better and our rates are lower. As a result, the big banks are […]Read More

What Borrowers Need to Know about Escrow and Prepaid Items

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Many borrowers are confused when it comes to prepaid items and escrow accounts and what role they play when it comes time to figuring out closing costs. Here is a breakdown of all the information borrowers need to know about escrow and prepaid items for their home loan.Read More

Who Can Pay Closing Costs? Seller, Lender, Realtors; Happy Veterans Day

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JVM Lending will be working a half day today because of the Veterans Day Holiday. We will, however, have a Mortgage Analyst “on call” all day and all weekend, per […]Read More

What Ever Happened to APR? Annual Percentage Rate

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Best quote of the day from the WSJ (Jason Gay): “Watching the Cleveland Browns is like watching a golden retriever make Thanksgiving dinner. Enthusiastic, yes, but not very successful.” I […]Read More

Consult Lender Before Moving Money; Paper-Trailing Assets

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We recently had a Realtor remind his client to talk to us before moving any money around, and it was a very pleasant surprise. Most Realtors and borrowers do not […]Read More

Buyers Can’t “Roll Closing Costs” Into Their Loan; Options?

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Total closing costs for a purchase transaction can vary from $5,000 to $30,000, depending on purchase price, loan amount, type of loan, month of the transaction and location of the […]Read More

Lender Credits for Closing Costs; Save Deals For Cash-Tight Buyers

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When we have buyers who are very tight on cash, we usually recommend a lender credit for closing costs. This is especially the case in competitive markets where seller-credits are […]Read More

Misleading Closing Costs Quotes, and Inaccurate Scenarios

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JVM spends a substantial amount of time educating buyers, and this process includes multiple “Payment and Closing Cost” Scenarios. We go out of our way to make sure we include […]Read More

Funds To Close; Every Dollar Accounted For; Don’t Move Funds!

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One of our biggest hold-ups at closing is accounting for every dollar used for down payment and closing costs (funds to close). Lenders are now required to paper-trail every dollar […]Read More