Uncategorized – Jasmine Team

Nov 06

The Importance of Title Insurance When Obtaining a Mortgage

Most property buyers understand that a title search is necessary when obtaining a mortgage in Georgia to be sure they are receiving a marketable title at closing. However, there are some title problems which cannot be discovered even through the most thorough title search. There are hidden hazards which are beyond the scope of a […]

Nov 06

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Credit Repair: Too Good To Be True?

Have you ever seen an ad that read, “Repair Your Credit –Guaranteed!” or “Perfect Credit in 30 Days!” or some similar ad? Sounds great. Who doesn’t want a better credit rating? Good credit allows for better interest rates on mortgages, credit cards, auto loans, insurance rates and much more. Is your credit score slowing you […]

Nov 06

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Canceling Mortgage Insurance (MI)

Mortgage Insurance covers the mortgage lender against loss caused by a mortgagor’s default. It may cover all or part of the loss and it may or may not relieve any liability on the borrowers part if default on the mortgage occurs. Private Mortgage Insurance (PMI) was developed to help borrowers purchase a home without putting […]

Nov 06

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“No Closing Cost” Refinancing

“No Closing Cost” Refinancing refers to a type of financing whereby the borrower is not required to pay any of the normal closing costs associated with obtaining a new mortgage. There are always fees associated with obtaining a mortgage, Loan Origination, Appraisal, Credit Report, Attorney, Title fees, etc. These costs must be paid by someone. […]

Nov 06

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Common Buyer Mistakes

Not purchasing an Owners Title Policy. A title policy is required to obtain financing from a lender but it only covers the amount of the loan. An Owners Title Policy protects (among other things) your equity. It usually is a small cost and well worth the price. Not getting a survey of the property being […]

Nov 06

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Credit Scoring

What is a “Credit Score”? When you apply for credit – whether for a car loan, mortgage, credit card, etc., information in your credit file is fed into a statistical model. That model assigns a numerical score designed to predict your risk as a borrower. The higher the score, the safer the borrower (from the […]

Nov 06

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How does PMI (Private Mortgage Insurance) work?

Conventional Mortgages When the loan to value for an owner–occupied residence is more than 80% (or the borrower is putting less than 20% down) then Private Mortgage Insurance (or PMI), is typically required. The premium may be paid on an annual, monthly or single premium plan. (The most popular method of payment is the monthly […]