FHA is a really good program, especially for first time home buyers. The program is designed to help people transition from being a renter to being a homeowner by requiring as little as 3.5 percent down and by allowing most of your closing costs and fees to be wrapped into the loan.

We've noticed the sudden increase in home prices lately, and it seems like everyone else has too. So why does it seem like appraisers are missing the boat?

For over a year mortgage rates were dropping, and they hit what many experts are calling “the bottom”.

We worked hard to spread the word to US Veterans then, that it was an ideal time to refinance. We helped hundreds of Veterans improve their interest rates and purchase their dream homes. We loved helping these families, and loved seeing the joy behind their smiles when they signed.

You know how the stock market is always going up and down? Sometimes mortgage rates can change just as unexpectedly. Because of that, deciding when to lock in a rate or whether to keep “floating” is a scary thing.

Yesterday we talked about MPRs or minimum property requirements. We told you about dry rot and wood destroying insects. Today we have two more MPRs that you should look out for.

Home Accessibility

When you’re dealing with a VA home loan, the VA has what it calls Minimum Property Requirements (MPRs). These are minimum standards a home must meet before the VA will guarantee a loan.

Occasionally MPRs can cause a delay in the loan process, frustrating some buyers and sellers when they would rather “overlook” the violation. It’s important to know that the MPRs are designed with your best interest in mind.

You know that feeling you had as a kid when you went to buy a candy bar? You had exactly .25 cents, so you had to choose carefully. The king size bars were .50 cents - that was too much. You could buy two packages of gum for .10 cents each, but then you would have .05 cents leftover. You finally decided on the .25 cent chocolate bar. With your mouth already watering, you went to the register to pay.

There is a magic word in credit called “utilization”. Utilization is simply the amount of credit you are using compared to the credit limits you have.

So if you have a credit card with a limit of $2500 and you’re using $1250, then your utilization is 50 percent, and that’s not good. If you have a high utilization, that sends a signal to lenders that you spend without regard for the need to repay.

Today is Independence Day and we’re excited for all the fun things that are going on. We know that you have a lot of fun things planned, and we hope that you can celebrate safely.

With Independence Day around the corner, we thought we would share some of our favorite quotes about our nation.

Liberty is always dangerous, but it is the safest thing we have.  ~Harry Emerson Fosdick