1 STOP MORTGAGE BLOG!

USDA has slashed its fees to Homebuyers & Homeowners!

USDA Fee Reduction Starts October 1, 2016 & for All of 2017!       USDA has announced that there will be a reduction in the cost home buyers incur beginning October 1, 2016, reports John Meussner at ActiveRain.  Until now, USDA applicants paid (usually via a financed charge that added onto a loan, starting USDA buyers off underwater in equity) 2.75% of the purchase price of their home (or loan amount, usually the same figure), in addition to an annual fee of .5% of their loan amount (charged monthly).  Since USDA offers a $0 down program with relatively ...

September 22nd, 2016 | 1 STOP Mortgage Loan of the Week!, USDA has slashed its fees to Homebuyers & Homeowners!

The Magic Wand to Get That Collection Off Your Credit Report!

The Magic Wand to Get that Collection Off Your Credit Report!  Robert T. Lord   Mortgage Loan Officer at 1 STOP Mortgage   NMLS Lic. 216638 One of the quickest ways of raising a credit score is getting collection accounts removed from a credit report.  A collection account will stay on one's credit report for seven years no matter if it is paid or not. In other words the damage was been done to the credit score. However, there is the magic wand called a deletion letter which can remove the unpaid negative collection account on the credit report. Here is how it wo...

September 16th, 2016 | Debt, The Magic Wand to Get That Collection Off Your Credit Report!

Americans want bigger houses

Americans want bigger houses    The Hershman Group reports today that Americans are showing they want bigger houses. Or at least that’s what they’re getting. The median size of a new single-family house was 2,467 square feet last year, the biggest on record, according to recently released Census Bureau data. With all that floor space, homes are 61% larger than the median from 40 years earlier and 11% larger than a decade earlier. “McMansion” may not be a popular term post-housing bust. But American homes have not only been getting larger.  Additional...

September 13th, 2016 | Home Sales, Americans want bigger houses

Shave 63% More Months Off Your Mortgage!

Devise your own Plan for Paying Off Your Mortgage Faster - Part 3 of 3 It's important to remember that agreeing to bi-weekly payments with your lender is a contract. Once that contracts starts, you're obligated to make those 13 payments per year no matter what.If you choose to self-manage, though, you can get the same result but without the financial obligation. For example, if it's the Holiday season and you'd like "skip a month" of extra payments, you can do it because you're not under contract.Sometime later, then, you can double-up your payments to get you...

September 7th, 2016 | Bi-Weekly Mortgages, Shave 63% More Months Off Your Mortgage!

Bi-Weekly Mortgages Can't Have 13 payments Per Year

Will Bi-Weekly Mortgage Payments Really Pay Off Your Mortgage Faster? - Part 2 of 3 As we continue to look at the pluses and minuses of Bi-Weekly Mortgages, let's look at how it lays out in payments over an annual basis to determine if you achieve the optimum results you want!.The Bi-Weekly Mortgage: 13 Payments Per YearA bi-weekly mortgage payment program is meant to short-circuit your loan's amortization schedule.Instead of taking 12 payments per year, the bi-weekly payment plan asks for one payment every two weeks, which adds up to 13 payments per year.Except that you can't m...

August 31st, 2016 | Bi-Weekly Mortgages, Bi-Weekly Mortgages Can't Have 13 payments Per Year

Will Bi-Weekly Mortgage Payments Pay Off your Mortgage Faster?

Will Bi-Weekly Mortgage Payments Really Pay Off Your Mortgage Faster? - Part 1 of 3  Over the years, we have heard about and been asked about Bi-Weekly Mortgage payments.  Granted, all of us would love to have that debt on our home be gone faster than not, so today we're going to explore Part 1 of our 3-Part Series on Bi-Weekly Mortgage Payments.  In doing so, we're highlighting journalist Dan Green in a recent article in The Mortgage Report issue of 8/27/2016.  Should you have any questions, always feel free to give us a call at 388-1588.  We're here to ...

August 29th, 2016 | Bi-Weekly Mortgages, Will Bi-Weekly Mortgage Payments Pay Off your Mortgage Faster?

rss

Serving the Great Mid-South Region
Offices: 901-388-1588 or 901-476-9100 |
Fax: 901-388-6202 | Email: info@1stophomeloans.com
1 STOP MORTGAGE | NMLS#215671 | TN Lic#108931 | 5909 Shelby Oaks Dr, Suite 129, Memphis, Tennessee 38134