The Frazier Team

What is the difference between APR and my mortgage rate?

What is the difference between APR and my mortgage rate? This is one of the most common questions about the mortgage lending process. If you are in the market for a home loan, it is helpful to learn the difference between your mortgage rate and your annual percentage rate, or APR.

Let’s start with your mortgage rate. That’s the base rate you will be charged to borrow the money needed to buy your…

5 mistakes to avoid during the #mortgage process #mortgage #tips #florida

Have you been approved for a mortgage loan? Great. Now don’t do anything.

Your lender will recheck your credit right before closing. Keep your transaction moving along smoothly, by avoiding some mistakes. Below are the 5 mistakes to avoid during the mortgage process:

Increasing your debt.Your debt-to-income ratio is an important factor when being considered for a loan. If you add to your debt,…

“These are extraordinary times.” Bon Jovi. The Federal Open Market Committee marked the end of an “extraordinary seven-year period” Wednesday when it announced the first increase to the Fed’s benchmark Federal Funds Rate in nearly a decade.

This rate, which is used when banks lend money to each other overnight, was held near zero to support economic recovery following “the worst financial crisis…

Understanding the Home #Appraisal Process

Consumers are often baffled by the home appraisal process. They may feel their home is worth a certain dollar amount, and therefore, the appraised value doesn’t make sense to them. It is important to know that appraisal guidelines are dictated by the lenders and the law. In many states, the lenders must disclose the purpose of the appraisal, as each situation carries its own set of rules. In…

Happy Thanksgiving and Many Blessings!

The #FHA Back to Work Program

The FHA Back to Work Program – mortgage after foreclosure or short sale

Have you suffered an economic event beyond your control such as loss of employment, loss of income, or a combination of both?  We may have a homeownership answer for you.

FHA’s Back to Work program allows credit exceptions to traditional guidelines for individuals who have demonstrated a full recovery from an economic event. …

Applying For A #Mortgage: Why So Much Paperwork?

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about usand requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their…

There is an old adage in the mortgage business that states that if you can improve your interest rate by at least two percentage points, then it is a good time to refinance. While that may work as a general rule of thumb, the truth is that there are many reasons to refinance your mortgage. Here are a few:

1. Lower your interest rate.

Securing a lower interest rate is one of the top reasons for…

Getting Ready to Move? Here's a Moving Checklist! #realestate #tips

If you are moving, creating a checklist of the things need to be done can lighten the burden of moving. This moving checklist will also help you be sure you’ve got everything in order for your move before the big day arrives.

Below is an example of a moving checklist.

4 WEEKS PRIOR TO MOVE:

Set up a “move” file or folder.

Set up a “move” calendar.

Have a garage sale.

Donate un-needed furniture…

Stop Renting! Now is the best time to buy!

Stop throwing away your hard-earned money on paying your landlord’s mortgage – invest in homeownership!  We can put you in a home so you can start to realize all of the benefits owning a home has to offer.

With the Frazier Team, you will receive prompt, positive, and personal experience – all guided by experience you can trust.  Invest in you, not in your…

The Art of Home Purchase

There is much give and take involved in negotiating a property or home purchase. That’s why it’s important to have a checklist of what you want to get out of the deal as a buyer. Bear in mind, the home must be appraised and the lender will be looking at the fair market value on a given property. Since property values fluctuate, your real estate agent should do a comparative market analysis so…

Can You Refinance with HARP?

In 2014, the Federal Housing Finance Agency announced that the “Home Affordable Refinance Program” (known as HARP) would be extended until the end of 2015. The program has already helped more than 2.2 million borrowers refinance. Borrowers whose mortgages are owned or guaranteed by either Freddie Mac or Fannie Mae may be eligible to refinance under the provisions of HARP. To determine…

Have You Heard of #Dropbox?

Want to make life more efficient, de-clutter all of your files, and say goodbye to uploading and emailing attachments? Then say hello to Dropbox!

Dropbox is a free service (up to 2GB are free) that enables you to store your pictures, videos and documents all in one place–and “lets you take your life on the road.” To get started, simply visit Dropbox’s webpage, and create an account. The only…