Shopping for a home before you’ve nailed down your price range is not only unwise but can be truly disappointing. You may have a vague idea of what you can afford, but before you’ve talked with a lender, it’s hardly possible to grasp all the costs involved or the options available to you including those… Read More
Refinances down but new mortgages are up. I’m not at all convinced that the recent indifference toward mortgage refinancing has anything to do with rising interest rates. I’m more inclined to assume that because low mortgage rates have been around for an extended period of time, most everyone who wanted to refi has already done… Read More
The Surprisingly Simple Evolution from Renting to Home Buying. As a long-time tenant you might not expect that you could be comfortable with the home buying process. But in my experience folks who have rented for years are often the most conscientious and well-informed home buyers. After working with several long-time renters-turned-buyers recently, I’ve come… Read More
Video: What’s the Word on Mortgage Lending Standards? Better. Mortgage lending regulations, along with mortgage interest rates, are fickle. Just when you think you’ve got a handle on them, they will change. Fortunately for home buyers mortgage lending standards have recently been changing for the better. At the end of last year and the first… Read More
A Quick Outline of HUD’s Buyer Select. A few clarifications before we begin. If you’re not working in the Real Estate industry you may not be sure what a HUD Home is or how an FHA loan differs from other mortgages. These condensed definitions might help. FHA loan or FHA mortgage: An FHA loan is… Read More
Fannie and Freddie Redesign Uniform Residential Loan Application Form. A new, simplified mortgage loan application (not yet in use) is debuting to mixed reviews. Gone are the days of home buyers spending hours answering unclear questions by hand. Present-day mortgage applications are largely completed by loan officers on a computerized form. So loan officers everywhere… Read More
Video: Is a Reverse Mortgage Right for You? What You Should Know. There’s a lot to consider when researching the pros and cons of a a reverse mortgage. This video gives you some basic facts about every reverse mortgage, so that you’ll know what questions to ask before you contact a mortgage lender. One other… Read More
The number of days outlined in this video, to close a Real Estate Transaction, are accurate. Thanks to recent government regulations (TRID), the time to close a loan has indeed lengthened. Even though we always build this into the closing time frame in a Purchase Contract, I always explain to both Home Buyers and Home… Read More
My advice? If you’re a potential Home Buyer and you’re on the fence, GET OFF! The new low for mortgage interest rates is unbelievable! ~Bill By Jonathan Smoke The surprise victory in Britain of the campaign to leave the European Union may be spurring panic across the Continent (and among some regretful British voters), but… Read More
Video: What to Consider Before Borrowing Home Equity – Home Equity loans were very nearly taboo for quite some time but their coming back into favor. In favor of an equity loan as opposed to a personal loan, mortgage rates are still low (make no mistake, this is a type of mortgage or home financing,… Read More
