Archive for the ‘Mortgages 101’ Category

Did You Say 30 Day Locks?

At Box Home Loans, we get this type of comment often: “The 30 day rate lock seems like a very short time, especially since you allow a few days buffer for final documents. A standard of at least 45 days seems much more reasonable”. So why do we continue to offer 30 Day Locks? We Read More »... Read more ›


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Filling Out Your Loan Application

Applying for a mortgage loan? The first step is to fill out a loan application. Lenders use the information you provide on the loan application to determine whether or not they can give you a loan, and if so, the amount of money they can lend you. This form is also known as the Uniform Read More »... Read more ›

Benefits of Refinancing

If you’re a home owner you’ve probably come across a time or two where you’ve considered the benefits of refinancing but got overwhelmed with all the things that come with it; applications, credit check, new survey and title search, as well as an appraisal and inspection fees. As you know, this process can be quite Read More »... Read more ›

Annual Percentage Rate – APR

Moving target Here’s why the APR is a moving target. The APR calculation was put in place by the Federal Government more than 30 years ago as means to help consumers compare loans, and to learn what the true cost of a loan is. In theory, that sounds great, but the reality is that it’s Read More »... Read more ›

Mortgage Fees

As you are preparing to either purchase a new home or refinance an existing home, it can be overwhelming getting that Good Faith Estimate and Initial Fee Itemization from your lender with a laundry list of mortgage fees. So, I’ve listed a few of those fees that came to mind that you may see on Read More »... Read more ›

Mortgage Insurance

What is mortgage insurance and how do I know if it’s necessary for my loan? Mortgage insurance may seem puzzling to first-time home buyers or seasoned home owners alike. But it doesn’t have to be. In order to understand mortgage insurance, it is necessary to understand a simple ratio about your loan called the Loan-to-Value Read More »... Read more ›

FHA Question & Answer

What are Box Home Loans requirements to qualify for an FHA loan? A borrower must have liquid assets in reserve that are equal to the amount of two months mortgage payments. (this is in addition to any down payment or closing costs) A borrower must have a credit score 700 or higher to qualify for Read More »... Read more ›