Joe Knows Mortgages Minute

Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE.” This week, we answer the question: When I’m buying

The quick answer: Nope! There are many options for putting less than 20% down, for example… A qualified and eligible Veteran might be eligible for

Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE.” This week, we answer the question: When it comes

Now, the veteran can negotiate with a seller on a property to pay all normal and customary closing costs.  The negotiation must be part of the sales contract and clearly outlined

Points are fees that a borrower pays directly to their lender at their closing, in exchange for a lower interest rate. 1 point is 1% of the mortgage amount…

When is a good time to consider a Cash Out Refinance? With current interest rates hovering around a 9-month low, home equity at an all-time

Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: Can you refinance a

What is a Cash Out Refinance?
A Cash out Refinance is when you replace your current mortgage with a new loan that allows you to pay off your current balance and uses the available equity in your home to give you additional funds for other purposes such as home improvement, debt consolidation or home repairs.  This might also be a great option for those looking to lower their interest rate. 

Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: What is an Earnest money deposit?
An earnest money deposit is also known as good faith money, or an escrow deposit. This is the amount that you put down as a deposit when a real estate offer is accepted. This money can typically be used towards your transaction at closing. If you do not close on your transaction, you may be entitled to a refund of your earnest money, as long as you meet the stipulations of the contract. In some instances the earnest money deposit may be forfeited if the timeframes and stipulations of withdrawal from the contract are not met.
Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! SO please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!