Even though mortgage interest rates have started to edge up, home buyers and existing homeowners considering a home refinance loan with good credit can still get a competitive interest rate in today’s market. But there are still many home refinancing options out there to consider before signing a new contract. Which Home Refinance Program Is… Read More »
Many Americans are still optimistic about the economy in 2019 and many renters are considering home-ownership for the first time. With consumer confidence soaring once again, many people are preparing for the dream of owning a home and are planning to apply for an FHA mortgage in the coming year. The economic signs are pointing to… Read More »
Donald Trump was elected the next president of the United States, and some financial experts believe that the President-elect could be good for the housing and mortgage industry. One of the areas of real estate that could see more activity is in home equity loans. A home equity loan is a form of a second… Read More »
Many homeowners today are choosing to refinance their mortgage because of the very low interest rates that continue to hover in the high 4% range as of of 2019. Refinancing a mortgage on your home property can save you hundreds of dollars per month, freeing up money for many other expenses of life. Also, some… Read More »
If you own a home, you probably have heard about a cash out or cash back refinance. Homeowners are blessed with unique opportunities to access money when refinancing their home. What is a “cash back refinance” and why would you do it? We’ll explain in detail below. Cash Back Refinance Basics A cash out or… Read More »
Since the end of the great recession, home prices in America have rebounded substantially. Since the dark days of 2009, prices have steadily climbed and are up over 50% on average from the lowest point. This is great news for homeowners whose homes may be worth more than their pre-recession values, but less great news… Read More »
If you are intending to get an FHA mortgage loan in 2019, you will be interested to learn FHA requirements and loan amount limits for the year. FHA recently announced its updated limits for 2019. It appears most of the US will see a substantial increase In higher cost zones of the nation, the 2019… Read More »
Home mortgage refinance rates are still low in 2019, despite rising substantially last year. If you can refinance your mortgage and save at least .5% on the rate, it can be a way to save you big bucks in interest and payments over the years. But the decision to refinance should be carefully weighed. Below… Read More »
Many prospective home buyers across the country wonder with rising interest rates and home prices if they will be able to afford a home if they have a limited down payment. The Wells Fargo Neighborhood Lift Program in Kansas City is one program that will offer potential home-buyers in that area to buy a home… Read More »
As the US government shutdown continues into its third week, many American might not even notice. But if you are trying to get a government-backed loan via FHA, USDA or VA, you may notice some hiccups. For example, people in Ohio who want to get a home with a USDA loan are running into some… Read More »
Getting the best real estate agent to sell your home (also known as a listing agent) can be challenging if you do not know some important tricks of the trade. First of all, experts note that two of the biggest errors home sellers make when choosing an agent to sell their home is making their… Read More »
If you were to ask your real estate agent when the best time is to buy a home? They will always say ‘now.’ But as of the end of 2018, as housing prices and mortgage rates are rising, this actually could be the best advice. According to the chief financial analyst at Bankrate, mortgage rates… Read More »
December 19, 2018- Washington DC, – Today, the Federal Reserve increased interest rates. This was the fourth time this year, but they did hint that 2020 may see less aggressive rate-hikes as a result of a weakening economy. Federal Reserve Chairman, Jerome Powell said, “Despite this robust economic backdrop and our expectation for healthy growth,… Read More »
Working well with your mortgage loan officer is critical to your home ownership dreams. He or she is the one that can make your mortgage a reality or deny the application outright. So, it is essential to have good communication with your loan officer from the start and before you sign mortgage disclosures. But many… Read More »
Have you noticed interest rates slowly rising this year? Just last month, Mortgage News Daily reported that interest rates for 30-year, fixed rate mortgages had crossed the 5% mark. Since then, rates have decreased to the 4.7% range, but the rates are much higher than they were last year. Also, housing prices across the country… Read More »
Home-owners have seen the equity in their home increase the last few years, and interest rates are on the rise. Rather than refinancing their first mortgages and possibly getting a higher interest rate, more home owners are opting for a home equity loan that provides a clear and simple path to receive cash back cost-effectively.… Read More »
Yes Fannie Mae and Freddie Mac Are Eying Increase of Mortgage Loan Limits in 2019 As of late October 2018, the 30-year fixed rate mortgage fell five basis points back from the week before to 4.85%. The first year 15-year mortgage is now 4.26% which was three basis point slower than last week. The Mortgage… Read More »
If you want to buy your own home and do not have the cash for a down payment, you are not alone. Millions of first-time buyers in particular lack the cash for that all important down payment. But if you lack the dough for a down payment, you should not be discouraged. There are several… Read More »
Are interest rates on FHA home loans still competitive? Are first time house buyers still considering FHA loan programs in today’s market? FHA recently released details about the health of its Mutual Mortgage Insurance Fund this week, which revealed enough economic net worth and enough capital reserves. But despite these facts, FHA has still said… Read More »
Adjustable rate mortgages (ARMs) can save the homeowner a lot of money in certain circumstances. If you have held an ARM in the past several years, it probably did make your interest rate and payment lower. But how about in 2018 and beyond? Rates are generally on the rise, with 30-year fixed rate mortgages in… Read More »
The real estate market across the country in 2018 and into 2019 is continuing to be hot. If you are considering buying a home in this market this or next year, below are some trends to be aware of. #1 Homes Are Still Selling Fast In February 2018, data from Realtor.com showed that homes were… Read More »
If you have a home loan backed by Fannie Mae or Freddie Mac and have been affected by the devastating California wildfires this month, you may be in line for some financial assistance. To date in November 2018, the fires have claimed the lives of 44 people and destroyed at least 100,000 acres including thousands… Read More »
If you need a lot of cash to pay for a major expense – such as college tuition or a home renovation project – and you don’t have the cash for it, a cash out refinance of your first mortgage could be the solution. A cash out refinance of your first mortgage allows you to… Read More »
This happens often to retirees who want to refinance their home or get a new mortgage. After their regular employment earnings are reduced in retirement, their monthly incomes drop. They could have a lot of money stored in IRAs and other investments, but for the purpose of a mortgage, they might not have enough income… Read More »
The evidence is in. It appears that higher mortgage rates of nearly 5% and overheated home prices in the Southern California area have led to a slowdown in sales in one of the hottest markets in the country. The number of new and existing condominiums and homes sold during the month of September dropped by… Read More »
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