mortgages: Changing Careers While Buying a Home
- 04/19/12 04:33 AM
Depending on your work history and your lender, changing careers while buying a home may complicate your mortgage application process. For this reason, most mortgage experts advise completing your real estate transactions - buying, selling or refinancing - before launching a major career move. This is especially true if you are planning to start your own business or become an independent contractor. Mortgage lenders not only verify employment at the beginning of the loan application process, but some re-verify the final 72 hours before your closing. Be aware that if you withhold information about an impending job change, you could potentially … (5 comments)
mortgages: Home Affordability is High and Home Builders are Optimistic
- 03/22/12 07:40 AM
Real Estate Optimism is in the Air In its weekly mortgage market survey for the week ending March 15th, Freddie Mac reports that mortgage rates remain historically low. The report follows rising employment and increasing bond yields. 30-year rates, the most common choice among homebuyers, have averaged below 4% for 15 successive weeks. 30-year fixed-rate mortgages averaged 3.92%, inching up only slightly from the previous week’s 3.88% average (which was only 0.01% above an historic all-time low). In mid-March a year ago, 30-year rates averaged 4.76%. Home builders continue to be optimistic that housing sales will pick up in the … (3 comments)
Depending on your work history and your lender, changing careers while buying a home may complicate your mortgage application process. For this reason, most mortgage experts advise completing your real estate transactions - buying, selling or refinancing - before launching a major career move. This is especially true if you are planning to start your own business or become an independent contractor.
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