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 4% range as of of 2018. 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 of… 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 »
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 »
There have been several analyses performed in recent months that indicate the average rate for a 30-year fixed rate home loan could be in the 4.6% to 4.7% range next year. What will happen to those mortgage rates when Democrats take the House after winning the election last night? Some experts believe there will be… Read More »
Data released in September 2018 indicates that new home sales have declined to a two-year low. According to Yahoo.com, rising mortgage rates and higher home prices are affecting the housing market. The data for the last three months also has been revised down. There have been declines in home building, permits and housing completions in… Read More »
Mortgage rates have been rising in 2018 as the US economy is gathering strength. Some renters who have been on the fence about buying a home have been starting to think about getting into the market before rates nudge above 5% in the next year or so. But buying your dream home is not as easy… Read More »
According to some financial analysts, such as Jim Cramer, rising mortgage rates could start to affect consumer spending, house purchases and company earnings in the near future. Cramer recently said on TV that 5% mortgage rates are coming soon. As of the first week of November 2018, the 30-year fixed mortgage rate was 4.85%. A… Read More »
For over eighty years the Federal Housing Administration has been assisting consumers with FHA home buyer loan and refinance mortgage programs that feature flexible income requirements and easy credit rules and guidelines. There is a reason why a high percentage of mortgage companies in the U.S. get approved by the Department of Housing and Urban… Read More »
If you are going to buy a home in 2019, you will need to do more than simply get approved for your loan, find a home and a good agent. It also is important to understand how buying a home will affect your taxes. It is very important that you make good financial decisions to… Read More »
People who have a low credit score want to boost it so they have more financial options. From buying a home, a car or getting a credit card, having a good credit score will save you a lot in interest charges. Credit repair is one of the best kept secrets to help people boost their… Read More »
Many Americans believe that quitting their job and going to work for themselves is a major part of the American Dream, just as much as owning their own home. The good thing is that today, it is possible to be self-employed and own your own home with attractive stated income mortgage products becoming available this… Read More »
The US Congress passed a tax reform bill at the end of 2017 that low income housing advocates say could have a negative effect on the low-income housing market. According to the Housing Advisory Group, the Republican tax law has overall not been good for the production of affordable housing for low income Americans. Let’s… Read More »
Homeowners always like to save on their utility bills, and there are several tax breaks that are available for people who have installed solar panels on their homes. In 2016, the federal spending bill that was passed extended the solar panel tax credit that has been affect for more than 10 years. It was extended… Read More »
Mortgage rate trends are always unpredictable, just like recessions and the prices of stock in your investment portfolio. But with mortgage rates in 2018, it seems fairly clear what is likely to happen this year and into 2019, but how will this affect first time home buyers in the near future? With a hot economy,… Read More »
The Federal Reserve last week increased its benchmark interest rate .25%, and clearly is anticipating more economic growth this year and next year. The latest increase takes the benchmark rate from 2% to 2.25%. It has not been this high since April 2008. It is the 8th increase since the Fed started to increase rates… Read More »
Home buyers and sellers do not have as much reason in September 2018 to get in touch with the mortgage lender these days. Mortgage interest rates are near recent highs in the 4.7% range for a 30-year, fixed rate mortgage. Refinance rates have been showing signs of rising again and home affordability is not what… Read More »
Reduced documentation and stated income home loan programs almost disappeared after the last financial downturn. Too many people who had questionable income sources were not fully verified and vetted by mortgage loan companies, and many could not afford to pay their mortgage payments when interest rates increased almost a decade ago. After the mortgage meltdown,… Read More »
As mortgage rates have been steadily rising in 2018 into the 5% range from less than 4% a year ago for a 30-year fixed rate mortgage, more home buyers are asking when if and when they should lock their rate in this market. If you are worried that rates will rise before you close, a… Read More »
It is always tempting when wanting to buy a home to go hit the streets and find your dream home. Then you make an offer. But if you have not even started the mortgage process before you make your offer, you will likely discover that the seller and the real estate agent will not take… Read More »
As the Consumer Financial Protection Bureau or CFPB continues to change and evolve, there are ways that Trump and other individuals may be able to improve it so that it better serves the American people. A recent report from the Office of Inspector General for the Consumer Financial Protection Bureau has determined some areas of… Read More »
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