If you experienced the distressed sale of a home but now you have your credit and finances back in order, you may still be asking the question “How long do I have to wait to qualify for another mortgage.” Based on when you experienced your distressed sale, the length of time will differ. Each different […]
We are past April 15th, tax filing day. You already know what your expenses were for last year. Unfortunately, the money spent on home repairs is not deductible. But if you are aware of how much you spent, it could help you make decisions that will save you money this year. Buyers are often provided […]
If you are in the market to buy a home and find one that checks off most of your “must-haves” list, you may want to go ahead with the purchase. First-time home buyers can be at a disadvantage since they put most of their available cash into a down payment and closing costs. This forces […]
Freddie Mac predicted it and it is happening. We are past the first quarter of 2018 and the 30-year fixed rate mortgage is going up. The rates will exceed the 5 percent, if this pace continues, by the end of this year. The first of an expected three raises in rates by the Fed has […]
Some potential home buyers determine which agent they will use when they start looking for their dream home. They believe that finding the home is the most critical part. While finding a home is critical, the most important part is getting good representation. Finding the right agent requires more skills then just being the agent […]
Private mortgage insurance is usually required on mortgage loans for more than 80 percent loan-to-value. If a borrower defaults on their loan, mortgage insurance will reimburse the lender. You need to be aware that when certain conditions have been met, expensive PMI can be removed. When your mortgage balance has reached 80 percent of your […]
Considering refinancing? Buying a new home? It maybe worth discussing a 15-year loan instead of a traditional 30-year mortgage. Monthly payments will be higher but your interest rate will be lower and your equity will climb faster. Below I have provided an example for comparison on a $300,000 mortgage with two terms. One 30-year term […]
Each year the National Association of Realtors publishes the Home Buyers and Sellers Generational Trends Report. In their latest report, they state that although Millennials are becoming the largest home buying group (34%) they are facing the difficulties of rising rents, rising home prices, student loan debt and flat wages. Today’s would-be buyers feel they […]
It has nothing to do with the table game where you search for a murderer, but you need to get a CLUE report. This report details the insurance claims submitted on your home and car over the past five to seven years. C.L.U.E stands for Comprehensive Loss Underwriting Exchange. CLUE is a database used by […]
Remember when you were a young child, at an amusement park waiting in line to ride a most exciting ride and then you see the sign “you must be this tall to ride” and find out you don’t measure up? The disappointment and embarrassment you felt helped you decide that you didn’t want that to […]
