Mortgage Masters of Indiana, Inc. is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering […]
Yearly Archives: 2022
23 posts
* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1. Up Front Mortgage Insurance […]
What is a USDA/Rural Housing Loan? A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture. Mortgage […]
By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time. The borrower’s monthly mortgage payment may change over time depending on the type of loan program, however, we’re going […]
Evansville Indiana Mortgage | Home Loan Definitions Mortgage amount Original or expected balance for your mortgage. Term in years The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years. Interest rate Fixed interest rate for this mortgage. Monthly […]
Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have […]
When applying for a mortgage, a borrower’s “Occupancy Type” is a major factor in the amount of down payment required, loan program available and mortgage interest rate. Whether you are purchasing, doing a rate/term refinance or taking equity out of your property through a cash out refinance, occupancy type is […]
While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.Mortgage Rates Evansville Indiana New regulation, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, […]
Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job transfer? Regardless of the motivation for […]
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property.Mortgage Evansville Indiana A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection.Mortgage Evansville Indiana However, the […]