home buying: What to Expect When You Apply for Mortgage Financing - 05/31/12 08:46 PM
What to Expect When You
Apply for Mortgage Financing
So you've heard that applying for mortgages ... and mortgage processing itself ... is a pain in the tush, huh?
I cannot lie to you. It can be ... But I think that stories, heard over and over again, contribute to perpetuating some of those problems. I believe that what an applicant hears (and thinks) prior to mortgage application, can influence what ends-up happening during their mortgage processing. How's that, you say? Let me explain ... … (12 comments)
|
home buying: Lending Across the Lines ... - 04/29/12 10:43 AM
… (6 comments)
|
home buying: New Changes to Mortgage Rules & Regulations Don't Have to be This Summer's "Beanball" and Knock Buyers Out of Their Home Buying Game - 04/18/12 12:33 PM
New Changes to Mortgage Rules and Regulations Don't Have to be This Summer's "Beanball" and Knock Buyers Out of Their Home Buying Game The ever evolving mortgage business requires an expertise and personal commitment by its professionals to provide excellence in service and quality, not to mention results. And part of that commitment includes education and the imparting of knowledge to the public, their clients, and referral partners to industry guidelines and changes to those guidelines. A recent announcement from HUD, on the processing of those loans intended to be insured with an FHA … (8 comments)
|
home buying: Could ... Would ... Shoulda! That's What You're Going to Say, if You Don't Buy Now! - 04/16/12 01:35 PM
Coulda ... Woulda... Shoulda!
That's What You're Going to Say,
if You Don't Buy Now!
Missed Opportunities!
Regrets!
Lost Potential!
Coulda ... Woulda ... Shoulda!
That's what you're going to be hearing yourself say ... if you don't buy a home while the current unique and beneficial housing market's opportunities exist.
Why? How do I know this?? Because I've begun to hear some Coulda ... Woulda ... Shoulda's ... stories related to me already. People are telling me they're kicking themselves over lost housing and … (31 comments)
|
home buying: Dispelling Nasty Rumors Regarding Down Payments - 02/10/12 10:05 AM
Dispelling Nasty Rumors Regarding Down Payments
"Rumours" ... catapulted Fleetwood Mac to the top of the charts during the year 1977 ...
"Rumors" ... was the name of an episode on the TV program Glee this last spring ... And Rumors ... are once again swirling about the amount of down payment a borrower needs to buy a home and obtain mortgage financing in the current market. THOSE rumors don't sound pretty. THOSE rumors don't make you smile or tap your toes. Nor are they humorous … (10 comments)
|
home buying: Mortgage Terminology ... Definitions to Help You Better Navigate Your Home Buying and Mortgage Transaction - 01/19/12 03:42 PM
Mortgage Terminology ... Definitions to Help You Better Navigate Your Home Buying and Mortgage Transaction Words ... That's all clients hear, if they don't understand the meaning of the words being used or thrown at them. And that leads to frustration, lack of action, confusion, and loss of interest ... something totally and completely maddening, plus a waste of time, should you be the potential client. They MAY be hearing ya, but you're not getting through! As a mortgage lender, I must keep in mind the fact that my … (2 comments)
|
home buying: So You Think SIZE Matters??? - 12/28/11 10:56 AM
So You Think SIZE Matters??? Okay ... Okay ... get your mind outta the gutter! I'm talking about the SIZE of your mortgage! Yesterday, I had to explain this important detail to yet another person involved within a mortgage transaction I am working on. This time, a seller. Mistakenly, they thought because the amount of dollars being borrowed was a smaller amount, it meant mortgage processing would be simpler, faster. That not as many "hoops" would have to be jumped through. Bzzzzzzzzzz! Wrong! SIZE … (13 comments)
|
home buying: Back in My Day ... When I Was Your Age. WAIT! There's alot more .... - 09/30/11 05:18 PM
Knock! Knock! Knock!Knock! Back in my day ... When I was your age ... Start a conversation with old sayings like that, and you'll lose a young person's attention quickly. I know that's how I reacted when I heard them years ago. And I understand. Everyone has to learn their own life lessons. Again, I know I did my fair share of learning the hard way. Trial and error. Life's hard knocks. But still ... there are those times in my past that I wish I had learned a little differently. … (14 comments)
|
home buying: Who's the Real Expert Here? The Buyer or the Appraiser? Part 1 ... - 09/06/11 04:34 PM
Lately, it's become obvious to me ... the "so-called" un-ending oversupply of homes for sale, is not so ripe with great homes at great prices. Not all homes are in tip-top shape, nor are they priced realistically or temptingly for today's current market or home buyers.
It's also abundantly clear that those homes that ARE priced right and in good condition don't always get the consideration and respect they are due. Sometimes by the buyers. Other times by the appraisal professionals asked to appraise them.
Here's a good example of the latter opinion: I … (41 comments)
|
home buying: Schools are Back in Session. Are You Planning on Learning Anything New This Fall? - 08/29/11 04:53 PM
Most kids across our nation are back in school now or heading back very shortly. For most Americans, this annual ritual represents the beginning of Fall, no matter the temperatures outside.
What lies ahead for our kids during their school year? Limitless chances to learn new things and experience new adventures. They will discover new opportunities to grow ... spread their wings in the classroom and beyond. Maybe as adults, we need to view Fall in the exact same manner for ourselves. And with the same frame of mind. We should continue to see Fall as … (4 comments)
|
home buying: Sometimes the Message IS Obvious and the Time to Buy IS Right ... - 08/02/11 09:34 PM
In a recent blog, "My Best Summer Crop? Potential Home Buyers with Newly-Approvable Credit", I wrote ...
"So while some others, perhaps more immediately credit-worthy future home buyers, were eyeing-up the market ... playing the waiting game ... hoping that prices would drop further ... playing Russian-roulette with interest rates ... these "near miss" buying hopefuls were making pro-active strides to get their credit spruced-up and raise their credit scores". Fence-sitting potential home buyers. Is that you? Fence-sitting potential home buyers. If you're a real estate professional, do you recognize the description and have a few … (6 comments)
|
home buying: The BEST Summer Crop? Potential Home Buyers with Newly-APPROVABLE Credit! - 08/01/11 02:58 PM
My best Summer crop? It's Also Good News! Potential Home Buyers with Newly-Approvable Credit ... While going over my databases this last weekend, I unearthed exciting news not only for myself, but for my referral partners too. I've been tracking the progress of many clients that were in a specific category of potential home buyer ... that being the "near miss" credit category. What's a "near miss"? When they first contacted me for mortgage information, these potential homeowners were close to being able to buy a home. They were on the target for loan-approvable credit, but just not a … (15 comments)
|
home buying: Today's Mortgage Lesson: The Three R's ... Rumors, Reminder, 'Rithmetic - 06/01/11 02:06 PM
Today, I want to address 3 things that seem to crop-up frequently when working with home buyers ... and that's ...
Rumors, Reminders, & 'Rithmetic! Rumors first, as I believe misconceptions and untruths can scare potential home buyers from searching out the facts. The rumor I hear most often concerns the need for down payment. So many potential home buyers (especially first-time buyers) believe that you must have 20% down to buy a home. That's just not true! There are multiple programs that allow for smaller down payments. Some are: USDA Rural … (12 comments)
|
home buying: Searching for Your New Home Alone? Really? Think That Over ... Pt. 2 - 05/13/11 11:07 AM
Searching for Your New Home Alone? Really? Think That Over ... Pt. 2 Are you presently contemplating ... or actively searching for a new home to buy? If so, you're not alone ... Are you thinking of "going it alone" ... without the aid and assistance offered by a real estate agent? In Part 1 of this blog, I addressed some of the reasons new homebuyers might think about tackling this venture on their own. Pursuing a home purchase alone is something a potential homebuyer might want to think long and hard about, especially if that decision … (3 comments)
|
home buying: Will it be FHA or Conventional Financing? Weighing Financing Options after the April 18th, 2011 Changes - 04/21/11 06:50 PM
Will it be FHA or Conventional Financing?
Weighing Financing Options after the April 18th, 2011 Changes Considering the speed in which changes are occurring in the mortgage industry currently, I'm getting hard-pressed to find a new headline that will catch a new home buyer's eye or interest. Another change? Ho-Hum ... zzzzzzzzzzzzzzzzz But THIS change that took place as of April 18th, 2011? HUD increasing FHA Monthly Mortgage Insurance by another 1/4%? It's a change that's going to shake-up the home buying plans and dreams of many new home buyers moving forward. … (16 comments)
|
home buying: Driving the path to Home Ownership. Be prepared ... it's a "tollway" ... - 04/05/11 04:05 PM
Fact:
84% of Americans still believe that owning a home makes more sense than renting. (Even 68% of renters believe owning makes more sense). Buying a home is considered safer than buying stocks by over 3 times the number of people (64% vs 17%). Statistics Courtesy of: National Housing Survey by Fannie Mae/4th Quarter 2010 Report
The above statistics provided by the 4th Quarter 2010 Report of Fannie Mae's "National Housing Survey" prove ... Americans are still in love with the thought of owning their own homes.
I think … (7 comments)
|
home buying: Recent Home Price Expectations Survey by MacroMarkets LLC Report Good Possibility of Housing Market Improvements - 03/28/11 06:15 PM
I receive the Keeping Current Matters blog each day. There are very timely mortgage and real estate topics being addressed within these posts. But today's post, and the thoughts and facts contained within it, may be about the most timely I've seen so far ... and the most important, as far providing sound reasons and facts to support the act of buying a home NOW. Something we in the industry are very interested and wish to remain educated in.
The particular post I am referring to was, "Double Dip or Double Your Money? ... or Both?" This KCM post spoke of a … (13 comments)
|
home buying: Tick Tick Tick. That's the Sound of Your Opportunity Slipping Away for Lower Interest Rates, Lower-Priced Mortgages, and Cheaper Closing Costs - 03/22/11 03:46 PM
Tick ... tick ... tick ...
That's the sound of time slipping away on lower-priced mortgages, smaller-downpayments, lower interest rates, and cheaper closing costs.
Getting worried?
If you're a first-time buyer ... or live in a high-priced region of our country ... maybe you should be. As of April 1st and after ... there are many things in play that could drive-up the cost of seeking and securing your home loan. Fees paid for small-down payment loans are rising. This type of loan is typically a launching-pad into homeownership for first-time buyers. There is talk of ending … (10 comments)
|
home buying: Reality Home Buying ... the Numbers Don't Lie. Buying NOW vs LATER ... - 02/08/11 01:10 PM
Timing is said to be everything ...
And whether you live in the Chicagoland area or elsewhere, right now, that has never been more true. Timing the market ... for stock purchases or buying a home ... is very important.
Many people are presently asking themselves, "Do I jump into the market now? Or, will values (real estate or stock) begin to rise or fall even more?
If you've been trying to make your mind up about buying a home in Chicagoland, or elsewhere across our nation for some time now ... say during much of '2010' ... you personally waited during … (18 comments)
|
home buying: Yes, You've Heard it Before .. But This Message is Worth Repeating .. AGAIN! - 07/02/10 03:44 PM
Yesterday I wrote a post on AR containing information about the great low interest rates we are seeing currently. I urged within that post, that whether you were a present homeowner or someone entering the market for the first time ... NOW was the time to pick-up the phone or contact your professional lender to find our what opportunities existed for you. NOW was the time to take action, step-out of your comfort zone if need be, and ask serious questions about your present loan ... or if buying could be in your near future.
I also sent the article regarding the low … (15 comments)
|
;)
;)
;)
