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ARMSTRONG FIELD INC.
Real Estate
Continuing the Tradition of Excellence Since 1948

Real Estate for Salem MA, the Entire Northshore of Massachusetts and Beyond

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Mortgage Articles and Advice

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How Much House Can You Afford?

   Debt-to-income Ratios

   Your Monthly Income - the way Lenders Figure it

   Your Maximum Monthly Mortgage Payment

   The Rest is Easy - Sort of

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Your Down Payment Affects Everything Else

   Analyzing Your Savings - the First Step

   Mortgage Program Choices

   Shopping for Interest Rates

   Writing Your Offer

   Conclusion - Look at Your Savings First

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Documenting Your Assets & Verifying Your Down Payment

   You can't just "come up" with the money

   Checking, Savings, & Money Market Accounts

   Stocks, Bonds, Mutual Funds, etc.

   Gifts from Family Member

   401K or Retirement Accounts

   Selling Personal Property

   Help from Employers

   Savings Bonds

   Borrowing to Come up with a Down Payment

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Where Does Mortgage Money Come From?

   The Olden Days

   How it works now

   Mortgage Backed Securities

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Different Types of Lenders
   Mortgage Bankers
   Mortgage Brokers
   Wholesale Lenders
   Portfolio Lenders
   Direct Lenders
   Correspondents
   Banks
   Savings & Loans
   Credit Unions

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Advantages of Different Types of  Lenders
   What kind of Lender is Best?
   Portfolio Lenders
   Banks and Savings & Loans
   Mortgage Bankers
   Mortgage Brokers
   Wholesale Lenders

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When Realtors or Builders Recommend a Lender

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Things You Need When You Apply for a Home Loan
   "Alternate" Documention versus Full Traditional Documentation
   The Actual List of things you need to get a quick loan approval

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Closing Costs When Buying or Refinancing a Home
   Introduction
   Lender Associated Costs - the "normal" ones
   Lender Associated Costs - the "other" ones
   Items Paid in Advance
   Impounds or Reserves
   Costs not Associated with the Lender
   Refinancing Associated Costs
   Asking the Seller to Pay Closing Costs - Advice and Rules

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Mortgage Interest Rates - How it Works
   A Loan Officer's Rate Sheet
   Pricing the Loan
   Quoting Rates to You
   Locking in Your Rate
   Shopping for Rates
   Getting Reliable Quotes

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all articles are copyrighted  by RealEstate ABC and may not be copied or duplicated without permission.


Ask any real estate related question

Your Ideal Home Request How much will you net by selling your home? When you're thinking of selling your home Interest Rate Quote If you need a professional real estate agent now.

Jim Armstrong
Armstrong Field Real Estate
281 Essex Street, Unit C3
Salem MA 01970

Equal Housing Opportunity

Office 978-740-8700


E-Mail: jim@witchcityhomes.com

Salem and North Shore MA Real Estate, Homes & Property - Armstrong Field, Inc



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