Home Loans with Wendy

Have you thought about new ways to lighten and brighten up your home, but not sure how? Whitewashing your fireplace is a simple project that can transform your living space. Check out the process from Erin Spain. #homeDIY #DIY #homeownership #homeprojects #homeideas

Q: Is an escrow account required? A: An escrow account for taxes and insurance is generally required for Conventional loans that have an LTV over 80%. However, LTV is not the only factor in allowing escrows to be waived. Underwriting will make the final determination. If you were to fall behind on your property taxes, you could end up with a lien on your home and eventually lose it. If your homeowners insurance lapsed and your home was seriously damaged, the lender’s invest...ment would be in jeopardy. An escrow account offers two benefits for you: - You’re automatically putting money away for expenses each month instead of having to budget for a few big payments. - Someone else is managing those taxes and insurance bills for you. #homebuyerFAQ #chooseHOMESTAR #homeownership

Thinking about purchasing rental property or listing your current home for rent? Becoming a landlord takes time, is an investment, requires organization, and involves a thorough understanding of landlord-tenant laws. Here is what you need to know when it comes to how to be a landlord managing tenants and rental property: https://bit.ly/HowToBeASuccessfulLandlord #HOMESTARblog #investmentproperty #landlordtips #becomealandlord

Co-Borrower = Any additional borrower(s) whose name(s) appear on loan documents and whose income and credit history are used to qualify for the loan. Under this arrangement, all parties involved have an obligation to repay the loan. #mortgageterms #chooseHOMESTAR #homeownership