Nov 23
Let’s suppose that you want to keep your mortgage payment around $1900 per month. With an interest rate of 5% you can qualify for a $360,000 home. However, if the interest rate is lower, at 4.25%, you can qualify for a home that’s $390,000. That’s $30,000 more home you can purchase for roughly the same …
Jan 23
Some say that the looming regulatory tidal wave for home mortgages is about to break upon us… Several government agencies are reviewing data to determine what will be the minimum down payment required under the new Qualified Residential Mortgage (QRM) guidelines scheduled to be revealed in the next few months. In the original Mortgage Market Note issued by the FHFA, …
Jul 24
An astounding read on housing A report from Wells Fargo reveals a booming mortgage business — and, a U.S. economy in fine shape… so says Cramer on MSN Money Cramer says, “Put simply, Wells Fargo is telling you that housing is back and that it is booming and that this moribund part of the economy is now …
Apr 01
NEW YORK (CNNMoney) — The Federal Housing Administration is about to make it even tougher to borrow money from Uncle Sam to buy a home. Starting April 1, borrowers in ongoing disputes with creditors over debts of $1,000 or more may no longer qualify for FHA-insured loans. Even borrowers with perfect credit scores can be …
Mar 19
We have often advised buyers to look at the COST of purchasing a house more than the PRICE of the home. Obviously, price is part of the cost equation. The other piece, assuming you are not an all cash buyer, is the mortgage rate. The mortgage rate to finance a purchase can have a dramatic …
Jan 20
Actually, yes they do, and they are called the FHA loan. One of the rarely touted advantages of people taking FHA mortgages today is the fact that they are assumable. What that means is, when the FHA homebuyer of today is looking to sell his home, a qualified purchaser can “take over” their loan. Most …
Dec 03
There is more and more research coming out showing that it makes great financial sense to purchase a home today. Purchasing a home right now is a bargain compared to historic norms whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios. In addition to these benchmarks, it is interesting to look at the COST of a …
Apr 13
Interest Rates Are Increasing Interest rates have increased almost 3/4 of a point in the last six months and most experts expect rates to continue to increase through the year. Interest rates along with price determine the overall cost of a home. Even with prices softening, if interest rates rise, it may be less expensive to …
Mar 10
In 2009 about 56% of all mortgages for a home purchase were FHA-insured, up dramatically from 6% in 2007, according to a February report from the George Washington University School of Business. According to the Mortgage Bankers Association, 75% to 80% of FHA purchase loans are for first-time home buyers. The FHA currently can …
Feb 11
Still sitting on the fence waiting for home prices to hit ‘The Bottom’? It’s a given that cautious buyers want to make sure that they don’t overpay for their new home. Unfortunately, it’s not all about the price… Buyers shouldn’t be so concerned about home prices as they should be about the cost. The cost of a house is made …
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Williams Ranks Highest in Customer Satisfaction for Home Buyers and Sellers Nationwide."
J.D. Powers & Associates 2012
Home Buyer/Seller Satisfaction Study
