In a hot real estate market, agents often tell buyers they must expect to make multiple offers before one is accepted. Disappointment may be the new normal rather than an exception. The stress of repeated rejections isn’t easy, so be prepared.
Significant numbers ...
Continue Reading →
US homeowners now have over 5 trillion dollars in home equity which is a very large amount of money! So this year may be the year for a lot of cash out refinances and ...
Last week’s economic releases included readings on new and pre-owned home sales and the Federal Open Market Committee’s customary post meeting statement. Fed Chair Jerome Powell gave his first press conference as Chair of the Federal Reserve ...
Sustainable materials, energy savings and smart home technology are high on the list of buyer wants in a home. But there are some other architectural and design trends that will change the way Americans live this year and beyond.
When planning a remodel, it ...
Continue Reading →
The FNMA HomeReady Program
Those who are involved in the mortgage industry must keep updated on changes to FHA, and Fannie Mae (FNMA) loans. Since loan limits and other changes are often made annually, keeping up with these changes ...
Continue Reading →
In recent years, building an environmentally friendly home or updating an existing home to be more energy efficient has become much more mainstream. While building an entirely green residence isn’t always fiscally possible, simple eco-friendly building techniques and upgrades will ultimately ...
1) Do I have enough equity to get a mortgage?
To get a conventional loan, you will usually need to have at least 20 percent equity. This means that your house will have to be worth at least $250,000 to ...
Continue Reading →
Last week’s economic news included readings From National Association of Home Builders, Commerce Department reports on housing starts and building permits issued Weekly readings on mortgage rates and new jobless claims were also released.
NAHB Posts 3rd Consecutive ...
Continue Reading →
The major problem that the vast majority of buyers will run into – especially when purchasing their first home – has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. ...
Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn’t save this substantial amount, the reality ...