Agents and Appraisers Express Concern Over FHA Appraisal Policies– I’d be curious to hear what your experience has been. I am absolutely one of the people who has expressed misgivings about a recent FHA appraisal or three, including accuracy, inflexibility and the snail’s pace. I don’t exactly find any of this surprising, just disappointing and… Read More
Mortgage Terminology 101– One of the most frequently asked questions for potential home buyers at the beginning of their process is “What’s the difference between a Mortgage Lender, Mortgage Banker and a Mortgage Broker, and which should I use? I always refer my clients to a mortgage professional for answers, but the article below does… Read More
It’s surprising to me, how many people believe that they can not buy a home. With rents soaring, home prices stable, interest rates low, and tax breaks still in place, you have nothing to loose by looking into purchasing a home. In fact I’ve had several clients who called looking for rentals, and were pleasantly… Read More
Foreclosure activity is back to “normal” across much of the nation. Low mortgage interest rates, which were ironically a result of the market crash, likely also play a part in the good health of today’s Real Estate market. First quarter foreclosure activity was below pre-recession levels in 78 out of 216 U.S. metropolitan statistical areas… Read More
We don’t hear as much about Bridge Loans as we used to, and though they were nearly nonexistent for a while they seem to be creeping back into favor. A bridge loan may not be the most financially prudent option, interest rates are higher and the amount of time you will carry the loan is… Read More
Eighty-six percent of the typical bank’s mortgage loans made last year were “qualified mortgages,” according to the American Bankers Association’s 23rd annual Real Estate Lending Survey. Despite an increase in non-QM lending, the survey results revealed that 72 percent of respondents expect the Consumer Financial Protection Bureau’s mortgage lending rules will continue to cause a… Read More
This past fall marked the dreaded TRID start date. Promises by lenders that closing schedules would not be affected proved to be, not surprisingly, empty. TRID has indeed had an impact on closing dates. However, home sellers seem to be accepting of the changes and I believe education is the key. Walking through a timeline… Read More
Though you may be willing to spend a certain amount, the real determination of how much house you can buy is driven by how much a lender calculates you can afford. Gone are the days when “creative financing” could be used to manipulate your credit worthiness or your ability to buy a home. Government regulation… Read More
In spite of what you’ve heard it IS possible to buy a home shortly after Bankruptcy, Foreclosure, or a Short Sale. Offered by a reputable company, Peoples Mortgage, and a resourceful, caring Loan Originator, Don Hoover, this is a fantastic option. The video is very quick but you can get more information, just call or email me for details. Bill Salvatore, Realty Executives East Valley – 602-999-0952 – golfarizona@cox.net.
Is it better to rent or to buy? I am an agent and a consultant for both. My viewpoint is that if you are able to buy a home, you should. Otherwise you are paying your Landlords mortgage sending him on vacation. There are more entries on the Pro side than on the Con. I offer Discounts on your purchase of a New Construction home. Bill Salvatore, Realty Executives East Valley – 602-999-0952
