Video of Top 5 Mistakes When Buying A Home
Ever had a client ask you what they should or should not do when buying a home? If so, you can send them this short video to give them the 5 most common mistakes made when buying a home.
Still Cheaper to Own than Rent in Majority of U.S. Counties
Image of the United States Map with blue and orange circles showing rent in orange and buy in blue.
In most parts of the country owning a home is more affordable than renting one. Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgae rates are helping to keep the cost of rising home prices in check.
What You Need to Know About the Paycheck Protection Program’s Second Draw
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Did you miss phase 1 of the Payroll Protection Program? Can you use Payroll Protection funds now? On December 27, 2020, the long-anticipated $900 billion COVID-19 relief bill was signed into law. This law delivers an additional $284 billion in Paycheck Protection Program (“PPP”) funding to small businesses.
Home Equity Grew This Year, Breaking Six-Year Records
Wood tiles with the letters spelling Equity.
The housing market has remained a strong pillar in an otherwise tumultuous economic year. A sharp rise in demand, spurred by record-low interest rates, continues to bolster homeowner equity. The equity growth was due to a surge in home prices during the summer and fall, as homebuyers emerged from the pandemic lockdown and competed for a low supply of homes on the market.
Mortgage refinancing is hot, but using your home as an ATM is not
A home under construction from the inside.
Mortgage rates have been sitting near record lows since the start of the coronavirus pandemic, and while millions of Americans have already refinanced their home loans this year, very few of them have taken cash out in the process.
Fed Lowers Minimum Loan Level for Small Business Lending Program
Image of a old downtown area.
The Federal Reserve has lowered the barriers on its lending program for smaller businesses as part of an effort to broaden the appeal of the sparsely used facility.
Do You Qualify for Our Bank Statement Program?
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Offer business owners our highly competitive 12 - or - 24-month bank statement loan program with up to 80% abd 85% LTV, respectively, (90% on a case-by-case) and no mortgage insurance.
Did You Know?
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Did you know I am a Certified Veterans Loan Specialist? VA loans are a wonderful benefit that veterans have earned by serving their country. When I decided to become a Certified Veterans Loan Specialist it was to refresh this particular skillset.
Gap Between Purchase Price and Appraiser Condition Ratings Causes Headaches
Rising House Prices
In an accelerated environment with homes being bought and sold at a rapid pace and market data being pulled ahead of time, historical data can struggle to catch up and create broad differentials between an agreed-upon price and the value.
2018 & 2019 vs 2020 Purchase Averages
Aquamarine Bar Graph representing home purchase averages from 2018, 2019 and 2020.
The average amount of time it takes for homebuyers in the United States to close on their home purchases is 47 days across all loan types, according to leading mortgage software company Ellie Mae.
HERO Loans
Cartoon image of a house and the outline of the United States.
For those who may not know, a HERO loan is a financing program for homeowners in approved communities that covers energy-efficient home improvements like solar, heating & cooling, windows & doors, roofing, or landscaping.
URGENT Notice About the FHFA Adverse Market Fee
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Mortgage Bankers Association (MBA) has been working to block the anticipated imposed 50-basis point adverse market fee on refinance loans purchased by the government-sponsored enterprises (GSE).
Appraisals During This Climate
Video of Appraisals During This Climate.
The current real estate climate is steadily moving on an upward trajectory with the buyers trying to get locked into a loan with low interest rates. But we are finding that the appraisal values have not met that incline at this time.
More Home Buyers are in the Market, but Shopping Takes Longer
Figure pushing a shopping cart by green and red homes.
The share of buyers who were actively looking versus thinking about it differs significantly by age group. Of Millennials planning a home purchase in the next year, 57 percent are already actively looking but among Boomers, that share is only 37 percent. Among Gen Z and Gen X buyers the share who were active was 40 percent and 47 percent, respectively.
Google Teams With CFPB on New Mortgage Search Feature
A man’s hand on his cellphone with graphs superimposed over the image.
Google has added a new feature to its mobile search functions designed to help aspiring homebuyers and current homeowners secure more in-depth information on the mortgage process. The search engine giant, which first ventured into the mortgage realm in 2015 via the creation of an online mortgage calculator feature, has teamed with the Consumer Financial Protection Bureau on this search feature.