Costs of Housing The Measure of a Home How Does It Measure Up? People are always looking for a “down and dirty” way to determine the value of a home and square footage seems to be one of the most common things used by people whether they are buyers, sellers or real estate agents.  While it seems straight forward, there are several variances that […]
Buyers Agent Buyers – be prepared in this sellers market 6 Mistakes to Avoid 10/2020
Buyers Agent Here’s how homeownership is – Worth the Push It’s Worth Digging a Little Deeper 10/2020 There are hundreds of thousands of people who believe, for one reason or another, they cannot afford to buy a home currently.  Some people  may not for any number of reasons but it would be very surprising to know how many who can buy but have gotten some bad […]
Costs of Housing Three Reasons to Refinance Three reasons to refinance a home include lowering the cost of housing, shortening the term of the mortgage to pay it off sooner or to using the equity to accomplish another purpose. Replacing the mortgage at a lower interest rate, which is entirely possible in today’s market, would reduce the payment.  On the other hand, shortening […]
Buyers Agent Most difficult steps in home buying process 2019 Buyer Survey says…
Costs of Housing Mortgage Prepayment Prepaying Your Mortgage 7/2020 Paying off your mortgage can provide peace of mind and is a worthy goal but is it the best thing for you to do at this time. Do you have higher interest rate debt currently?  If you have credit card debt with double-digit rates or personal, car or student loans, you’ll probably […]
Buyers Agent Mortgages Pre-Qual vs Pre-Approval Good Decision for a Second Opinion 7/2020 You’ve done your homework, contacted a mortgage company and believe you are pre-approved.  That part of the process is finished and you can concentrate of finding a home and moving…or can you? Pre-qualified and pre-approved are two different things but some people, including some in the business, use the […]
Buyers Agent How is your FICO FICO Resilience Index 7/2020 FICO, the company that standardized a credit scoring model to allow lenders to evaluate a person’s ability to repay a loan has now added a new tool called the FICO Resilience Index.  This measurement can be used to determine a consumer’s ability to withstand uncertain financial times. It uses credit bureau information […]
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Buyers Agent FHA Streamline Loan FHA Streamline Refinance
Buying Mortgage Affordability Here is how it works. Housing Affordability Index
Mortgage What About Mortgage Forebearance and Forgiveness?? Mortgage Forgiveness During the mortgage meltdown that caused the Great Recession a decade ago, some homeowners lost their homes to foreclosure or constructed a short sale to get out from under the debt.  In most of the cases, the lenders forgave all or part of the debt owed them. Similarly, in the early 90’s after the […]
Buying What Buyers Can Do While on Quarantine What Buyers Can Do While Staying at Home While you’re isolating at home, there are things you can do to help buy a home now or in the near future.  Instead of spending time surfing the Internet looking at homes, do the groundwork necessary to be able to purchase the home that you find. There is […]
Buyers Agent Am I Prepared to Buy? The 4 C’s of Qualifying Qualifying for a mortgage can be explained with 4 C’s.  Capital indicates the borrower has the necessary funds for the down payment and closing costs without exhausting their savings.  Capacity shows that the borrower has the ability from income to pay back the loan.  Credit history reveals the borrowers FICO score, which is […]
Mortgage Mortgage Lock-In Mortgage Lock-in A mortgage lock-in is a lender’s agreement to hold a specific interest rate for a stated period for a loan at the prevailing market interest rate.  This provides the borrower some protection against the interest rates going up during the lock period. If you think the rates are going down, the advantage would be […]