What is APR?

1.       What is Annual Percentage Rate- "APR “ is a much better indicator than just the interest               rate of the actual cost of a mortgage loan, as it estimates what you will pay over the course of the entire year.   Items included in the APR are discount points, origination fees, Mortgage insurance premiums, prepaid interest.  The higher the APR the more closing costs infovled in the transaction.

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Such items included in the APR on a home loans are processing fees, underwriting fees, doc fees, wire fees, prepaid interest.  They can include appraisal fees, title fees etc... the APR can vary depending what is included in the costs of the loan.  A home mortgage is one of the most important things you will get in your life.  Do not take it lightly...

American Financial Network is a direct lender and FHA direct underwriting company.  We are a full service California home mortgage lending company.  We offer FHA, USDA, VA, Conventional and Jumbo home loans.  We offer great rates on both purchase and refinance loans

Keith Woeste

Home Loan Consultant

American Financial Network

330 Tres Pinos Rd.,Ste F3

Hollister, CA 95023

"Making Clients Family for Life"



PH.831-801-8667

FX. 831-665-5260

NMLS#292588

To complete and secure online application go to http://www.hollistermortgage.com

http://www.onlinemortgage-lenders.com/

http://www.repairmy-fico.com

http://www.hollistermortgage.com/

http://www.mortgages4california.com

Can I buy a home after a short sale, or foreclosure?

     What are the rules regarding Foreclosures, Short Sales and Bankruptcy? -    For foreclosures and short sales the minimum time before you can buy a home again is 3 years.   There are a few exceptions one is, if you had a short sale, but remained current throughout, you can get a new home loan in less than 3 years.  There are also extenuating circumstances such as death of primary provider. 

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 For bankruptcy (BK) the time period on chapter 7 is 2 years for BK discharge.  If a mortgage is included it will be considered a foreclosure then it is 3 years.   Note. Something we are seeing more is, If you had a second on a property that had foreclosed and the second lien holder did not release you from the debt, it will need to be settled before you can purchase a home.

Morgan Hill Mortgage Lenders

For more info call me

Keith Woeste

Home Loan Consultant

American Financial Network

330 Tres Pinos Rd.,Ste F3

Hollister, CA 95023

"Making Clients Family for Life"



PH.831-801-8667

FX. 831-665-5260

NMLS#292588

To complete and secure online application go to http://www.hollistermortgage.com/

http://www.onlinemortgage-lenders.com/

http://www.repairmy-fico.com/

http://www.hollistermortgage.com/

http://www.mortgages4california.com/

20 Whats of Home Mortgage

Here is 15, 16 and 17 of the Whats of Home Mortgage


15. What is a Discount point? - It is an amount paid to the lender, bank or investor to lower your interest rate.

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16. What is an Origination point? – It is an amount paid to the person that is doing the loan for you, the “mortgage originator”.

California Home Loans



17. What is a point? - A point is 1% of you loan amount. So if your loan amount is $200,000, a point is $2000. A loan amount of $500,000 a point is $5000.


Gilroy Lenders

For more information call me any time..

Keith Woeste


Home Loan Consultant

American Financial Network

330 Tres Pinos Rd.,Ste F3

Hollister, CA 95023

"Making Clients Family for Life"



PH.831-801-8667

FX. 831-665-5260

NMLS#292588