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 ...
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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 ...
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 ...
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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 ...
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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 ...
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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 ...
When you are purchasing a home, your lender may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals.
So the question many ...
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Like credit cards or car loans, some mortgages allow borrowers to have co-signers on the loan with them, enhancing their application. However, a co-signer on a mortgage loan doesn’t have the same impact that it might on another loan. ...