Getting a mortgage is not as simple as showing your ability to pay, having good credit, and good down payment. It also must pass a test period of Fannie Mae and Fannie Mac’s automated underwriting. This is something you should be aware of as it pertains to buying or refinancing a home. If your situation…
As the real estate market continues to become increasingly competitive, you might find yourself making offers on homes above the asking price. Possibly even waiving contingencies on the advice of your real estate professional, and still finding that you’re losing to competition on the house. This is something occurring nationally right now as most markets…
It is no surprise that interest rates are on the rise. As interest rates rise home spending power i.e., buying power diminishes. If the same loan amount and the same purchase price now cost more per month that can start to wane on your debt-to-income ratio which could prove to be problematic with your mortgage…
The Federal Reserve increased the Fed funds rate by 25 points to slow down the highest inflation seen in 30 years. As a result, here’s what this means for interest rates, credit cards, and home equity lines of credit. In short, everything is going up. Mortgage rates are also higher but not because of…
Consumers are no strangers to the present economic times we are living in right now as everything is rising, and inflation is rampant virtually everywhere. Gas prices, stock prices, housing prices, mortgage rates the list goes on. As cost rises the need to borrow money also increases. If you have been thinking about doing…
If you are just starting in life and trying to get your footprint in the real estate climate; the information in this post is for you. Everyone must start somewhere and buy that first home. That first home is always the big one it is by far the hardest and most emotional. It can also…
It is no surprise inflation is upon us, and interest rates are feeling the rising cost of goods and services. Everything seems like it is going up in price. Mortgage rates are no exception. One thing you might want to consider as it relates to refinancing your house is there is a net tangible benefit.…
The inflationary environment that we are in, coupled with the supply chain, and rising prices of food and energy, all have contributed to higher costs for about every economic resource. Interest rates are no exception. Interest rates are up one day down the next based on worldly and historic events. If you’re pre-approved for a…