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Private Mortgage Insurance

Private Mortgage Insurance Private Mortgage Insurance is designed to protect the Mortgage Lender in case the borrower defaults on the loan. It provides protection in the event of a foreclosure of the property in which the Lender had financed more than 80% of the home’s value. In the event the borrower has defaulted on the Read More »... Read more ›

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Intro To Home Loan Closing Costs – Mortgage Closing Costs

About Home Loan Closing Costs When you get a home loan you will need to pay what is known as mortgage closing costs. They are basically fees charged by lenders and third parties that relate to the purchase of your home. This is an additional cost on top of the down payment, and home loan amount. Read More »... Read more ›

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Want To Buy A Home…. But What If My Credit Is Frozen?

Want To Buy A Home…. But What If My Credit Is Frozen? You should know by now if your are looking to buy a home, that having good credit is a HUGE factor. If you are actively seeking a loan from Box Home Loans, you should understand that the procedures involved in lifting a security Read More »... Read more ›

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Flood Insurance

Flood Insurance I’ve often wondered about my hometown, Springville UT, since I’ve heard of a flood that happened decades ago when hobble creek (a creek which runs through the middle of the town) overflowed and flooded most of the town. If I owned a home in Springville, would I be required to purchase flood insurance? Read More »... Read more ›

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So You Want To Refinance?

Considering a Refinance? In the 1980’s and 1990’s interest rates of 8-10% were commonplace. Over the years’ rates have dropped, and in 2012 we saw rates go as low as 3.35% and lower in some cases. What if you kept that rate of 10%, and never took advantage of the opportunity to lower it? You would have Read More »... Read more ›

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Understanding Mortgage Escrow Prepaids – Box Home Loans Mortgage Tips

Mortgage Escrow Prepaids include: We wish (like you) that escrow funds from a previous mortgage could simply be ‘rolled over’ into your new m escrow account, but unfortunately it doesn’t work that way anymore ever since the Dodd/Frank Act took effect. Understanding mortgage escrow prepaids can be tricky… but we’ll help you get a better understanding, Read more ›

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Credit Scores & Your Financial Health

Credit Scores & Your Financial Health So we hear a lot about this infamous score and how it can affect our future financial abilities – but what is it really, and how does it come about? First of all, a credit score is an entirely different beast than a credit report. A credit report is Read More »... Read more ›

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Temporary Leave Loan Qualification

Temporary Leave Loan Qualification Temporary leave from an employer may encompass various circumstances (e.g. family and medical, short-term disability, maternity, other temporary leaves with or without pay). Under no circumstances should any medical documentation be required or any inquiry regarding the nature of the disability be made. Temporary leave may vary in duration. The period Read more ›

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Why Does My Lender Need to Document Everything?

Why Does My Lender Need to Document Everything? “What’s with all the documentation?” or “Aren’t my pay stubs enough? I make plenty of money and have more than enough assets!” Are common questions I hear from borrowers. You show us your paystubs, and then you get a mortgage, how great would that be?! We like Re... Read more ›

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What You Don’t Know About Your Credit Can Really Hurt You

Your credit score means everything in the mortgage lending world. Credit Reports show that close to one in four Americans have never checked their credit report. Never? Are you kidding me? This report contains important information about a person’s credit history and ability to be financially responsible, including credit cards (revolving debt history), mortgages, and auto Read more ›

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