Last month, Fannie Mae and Freddie Mac all but ended Interest Only Mortgage loans, so the only loans left are Amortizing Mortgages. (Some borrowers can still get an Interest-Only style mortgage, but they are very restricted now). If you have ever closed on a mortgage, you probably remember the large stack of paperwork you needed [...]
Read the full article →I got two funny phone calls today from Charlotte Real Estate Agents, both asking about down payments. Since the mortgage crisis started three years ago, the biggest mis-information in the media has been concerning down-payments, with most news articles saying you need 25% or more for a down payment. The first call went like this: [...]
