This is a question we get quite a lot. A buyer will call up and say, “Hey Mortgage Brothers, I’ve been working for this company in Virginia for years. I’ve been remote, but I've got family in Arizona and I’m thinking of moving. Can I actually move to Arizona and work there? And can I get a mortgage?”
Interest rates for second homes and investment properties are going up. In the last couple of weeks, the big agencies, Fannie Mae and Freddie Mac, basically said that they don’t want to have more than 7% of their whole pool of loans to consist of second homes and investment properties.
This week we are talking about closing costs on purchases and how to understand them. In this episode we cover; What are closing costs? What are the typical average closing costs when it comes to a home purchase? How much are they?
Today we are covering closing costs in relation to refinances. There’s a lot of confusion as to what closing costs are, especially when it comes to getting the prepaids right, and how much they usually cost.
In this podcast we're answering the question “how much can we qualify for?”