We’ve been spoiled by ultra-low mortgage rates for the last several months. We saw 30-year mortgage rates go down into the mid two’s on conventional and government loans. These interest rates were brought on by the pandemic, the job market uncertainty, and the broader United States being in a holding pattern about what’s going to…
Many people desiring to refinance are taking advantage of historically low-interest rates. One of the challenges when refinancing your house is when you have a second mortgage. Here is what you need to know if you’re trying to refinance and you have a second loan… If your desired to refinance and you have a first…
With interest rates at historical lows, many families across the country would stand to benefit from turning in their high-cost mortgage in exchange for getting something far more affordable with today’s rates. There’s a lot that goes into the mix, including cost-benefit, what the real cost of funds is and many other factors to weigh…
A homeowners association payment can change your borrowing power. Here’s what you might want to think about when deciding to buy a home with a home owner’s association… A homeowners association payment can make or break your ability and or your desire to purchase a home. One of the things about homeowners association payments that…
One of the challenges people have when deciding to purchase a house is trying to pinpoint the right time to make the move. Everyone is in a different stage of life and pinpointing the optimal time can be a little bit tricky depending on one’s personal finances. Here are some things to consider when deciding…
If you’re getting a mortgage or thinking about getting any type of mortgage loan financing and you’re looking at interest rates for 30-year mortgages in the mid to s for example here’s what you need to know… Most mortgage offerings in the marketplace today at or sub 3% come with varying rates fees and in…
Many employers have furloughed employees due to work capacity, financial constraints other reasons. If you’re furloughed with your current job more than likely you’re going to have a difficult time getting a mortgage. While each individual company might have a different guideline, most lenders from a blanket standpoint have a requirement in place that you…
The Federal Housing Finance Agency just rolled out August 12th, 2020 new change to conventional mortgage refinances. Here’s what you need to know going forward… Fannie Mae and Freddie Mac are now assessing 50 basis points loan level pricing adjustment on all refinances for conventional loans going forward. For example, a mortgage that was offered…