Leveraging a Gift of Equity to Buy a Home – An Insightful Guide
Are you having trouble coming up with the money to purchase your ideal house? Fear not, there is a solution you might not have thought of: a gift of stock. This tactic is frequently disregarded, particularly when families are selling real estate to close relatives. It’s a terrific strategy to make housing more affordable while […]
New Mortgage Landscape: FHA Loans Your Golden Ticket?
Understanding Loan-Level Pricing Adjustments (LLPAs) Have you ever found yourself wondering why some folks get better mortgage rates than others? The secret often lies in something called Loan-Level Pricing Adjustments, or LLPAs. But don’t let this financial jargon throw you off, stay with me, I promise, it’s simpler than it sounds. Think of LLPAs as […]
Buy a home with less than 20% of a down payment
A couple wants to buy a home before starting a family as they have a small apartment that isn’t the best environment for raising a child. The main issue? A 20% down payment is much more than the young couple could handle. Luckily, the couple’s lender directed the them to an FHA loan and they […]
Should I refinance my mortgage?
Refinancing your mortgage has crossed your mind even before COVID-19 hit, but now the thought might become an action. The interest rates right now are at the lowest they have ever been so it’s understandable that many people are considering the refinancing option for lower mortgage payments for the next few years. Refinancing can be […]
The Truth about Mortgage Assistance During the COVID-19 Pandemic
False: Wait until you miss a payment to call your mortgage servicer. You should not wait until you miss a mortgage payment if you are experiencing any financial hardships from the virus to contact your mortgage servicer. They are here to help! Ask about mortgage assistance options that could be available to you while you […]
Supply of Housing Lags Behind the Demand
If you are like most buyers you wonder about where the houses are for sale in today’s tight market; it can become a major headache for those seeking to purchase a home. There has been an increase in buyer demand, and the available supply for purchase has fallen behind. The number of new housing permits […]
Mortgage Rates at Three Year Low
Rates for a 30-year fixed mortgage recently dropped to a three year low according to Freddie Mac. The company says that a 30-year fixed-rate mortgage had an average of 3.55% for the third week of August 2019; down almost a percentage point from the same period a year earlier. There has been an obvious stimulation […]
Understanding PMI on a Mortgage
You may have heard the term PMI as you have been shopping around for a mortgage, but don’t know what it means or how it affects you. Not to worry, let’s take a more in-depth look at what a PMI is and how it can impact your chances of getting a mortgage. What is Private […]
Existing Home Sales Have Year-Over-Year Increase
Sales of existing homes went up in July by 2.5% over June and had the first year-over-year increase in more than a year reports the National Association of Realtors. Due to historically low-interest rates and low mortgage rates, home sales have increased this summer. The sales have increased despite some indications that the economy as […]
Is the Time Right to Refinance Your Home?
With the recent drop in interest rates you, like many homeowners, wonder if the time is right to refinance. In order to determine if refinancing your home is the best choice, you should begin by asking yourself these questions: What is Your Goal in Refinancing? There are several good reasons to refinance, but these are […]