Some lenders charge borrowers so-called “junk fees” such as application or administrative type charges. These aren’t really junk, just additional fixed fees a lender has the latitude to charge although not all do so. Applied less frequently and calculated as a percentage of a total loan amount, some lenders charge an upfront “origination fee” for… Read More

Visit to download and enjoy, How to Get a Stellar Home Loan: Six Steps to the Best Mortgage at the Lowest Rate with the Fewest Headaches. With our friends at KTAR, Galaxy is posting a series of blogs to help borrowers understand lender fees, shop for a loan, and choose between a bank and a mortgage broker. Click here to… Read More

Jay Luber, president of Phoenix-based Galaxy Lending, is a veteran of Arizona’s mortgage market. His thoughts and advice for borrowers:… Read More

The expansion of the Home Affordable Refinancing Plan was announced last November, and some lenders have begun taking applications. But the federal government had to work out some issues with the program and lenders before it could officially launch it. An earlier version of HARP allowed homeowners with mortgages backed by Fannie Mae and Freddie… Read More

Homeowners in Arizona as well as Florida, Nevada and Michigan are especially hard hit and home values have fallen as much as fifty percent. Even though today’s interest rates are at a record low, some are unable to refinance their homes or reduce their monthly mortgage payments. To help homeowners reduce their mortgage costs through… Read More

The Obama administration on Monday announced long-awaited details of an expansion of a program that helps homeowners refinance to reduce their payments. Mortgage rates have fallen to record lows, and many homeowners would save hundreds of dollars a month if they could reduce the amount of interest they pay. But the housing crash has created… Read More