Fantastic question! Before we dive down to the nuts and bolts, consider the present market. There’s been more government regulation including a recent legal settlement heavily influencing banks to remove bank owned property from the market, clean up their books and expedite short sales (which now take 3 to 4 months).As a result, less homes…
The housing market has certainly changed in the last six months. Many people who otherwise thought they did not have 20% equity actually do have 20% equity as the low supply of homes available in the market against the amount of determined buyers continues to drive home sales up. The newly fueled appetite for real…
The answer is nobody. Not anyone lender has a monopoly on the market. Interest rates change on a daily basis. When you hear interest rates advertised on the radio or online or you hear that interest rates drop again the information is automatically outdated. Why is this? Very simple answer-mortgage rates are tied to mortgage…
Question is a pretty common one, most consumers typically compare at least 2 to 3 lenders to see who has the best combination of the lowest interest rate and lowest fee. What people are really trying to find is the lowest cost mortgage and rightfully so, taking out a home loan is a big financial…
Here is a previous post describing this exact situation, builders steering buyers into working with their lender. Know this- everything in a real estate purchase contract is negotiable, everything. No real estate agent, broker, or builder can dictate who you use for financing for your home purchase. That choice entirely yours to make. New home…
Waiting on one or even two potential houses in your neighborhood to sell just for the sole benefit of trying to get a higher appraised value to complete a refinance is a losing proposition. This is because of the fact appraisals are not based on just the house next door or down the street, selling,…
Credit continues to be a hot topic. Having credit, maintaining credit and keeping the credit scores as high as possible is everyone’s aspiration. Unfortunately, many consumers are unaware of some of the credit blunders that inevitably show up when it comes time to obtain a home loan. In fact clearing up one myth before we…
The majority of homeowners refinancing today are looking for one common net tangible benefit; a lower cost mortgage. Gone are the days homeowners had to refinance due to a variable-rate-payment change or strong inflationary factors. Everyone wants to save money, key is deciding when to make a prudent move at the right time. If you’re…