New home construction communities continue to offer many incentives to people looking to upgrade their level of homeownership. For many, the idea of being able to purchase a brand-new home with upgrades and have a turnkey real estate experience is an offer too good to pass up. New homes are run by large construction companies,…
Newspapers, the Internet, television and media sources are not the best places to research accurate mortgage interest rates. Advertised mortgage rates are just that, they’re advertised. Real mortgage rates are something else entirely and can change multiple times daily. The reason why you need to be aware of advertised mortgage rates is because the information…
Now is not the time to put the brakes on the home search! If you are pre-approved to purchase a property and are subsequently looking for homes, do not give up and start saving for closing costs. That is a losing proposition in this marketplace. We are in the month of November, Thanksgiving is right…
Congratulations purchase contract is accepted and you are now officially “in escrow”. You go ahead and send in all of your financial information to your mortgage lender, a few days goes by and you get some not so pleasant news. The loan has been counter approved requiring some changes to the mortgage loan program and…
Not sure why it’s there, but aversion to mortgage loan points is definitely something every borrower and consumer asks about. For the most part, there is a negative stigma attached to paying discount points. There’s two forms of points which are an elective to pay in conjunction with procuring mortgage loan financing. There used to…
The buzz is is everywhere… people who have loans owned by Fannie Mae or Freddie Mac will be able to refinance with no loan-to-value restrictions. This program is slated to take effect on November 15. The actual program is called (HARP) Home Affordable Refinance Program and it is designed to help people who have conforming…
As we all know getting a mortgage loan today can be challenge. Dealing with adverse credit can be somewhat unpleasant, but necessary to procure mortgage financing. The credit score is an indicator of how likely you are to default on a monthly debt obligation in the next three months. The higher the credit score the…
This is “THE” money question. If you can accurately predict this- you are the man, no doubt about it. News Flash! Nobody can predict this information, not even Yale Economists. What we can do is gauge the economy and the health of the real estate market by the economic data that we receive on a…