Here’s a roundup of posts that appeared on Zillow’s Mortgages Unzipped last week.

Justin McHood’s weekly Mortgage Definition Explains an FHA 2/1 Buydown

An FHA  2/1 buydown is an option when getting an FHA loan where you can “buy down” the interest rate for a period of 2 years by putting a lump sum of money into a buydown account that will supplement the payment schedule on the loan for 2 years.

Lewis Poretz Asks How Important Is The Title Company?

The title company handling the loan transaction essentially handles the legal side of the deal. Lien releases and recording of new documents are handled by the title company. Many times these duties are subcontracted out to companies that concentrate on abstracts and deed recording.

Evan Vanderwey goes: Back to the Fundamentals: How much money do I need to put down?

At some point in the process of struggling to make mortgage payments home owners will consciously remind themselves whether or not they put any of their own money into the deal way back when they purchased the home.

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Photo Credit: Petras Gagilas

  • Chris

    @ Evan. Down payments are essential for a strong economy with first time buyers. O-down is a recipe for abuse and rampant speculation.

  • Scentsy

    We are eligible for an FHA and will be looking for a home soon, so this info was very helpful, thank you!

  • Shoreview MN Homes for Sale

    The FHA 2/1 buydown loan is a very attractive loan that I know many of my buyers will be interested in…especially since many are wiped pretty clean after putting down their 3.5% down payment. Having reduced payments for the first 2 years eases the stresses of buying a home. Great info!!

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