What You Need to Know About Financial Markets and the Mortgage Process
The speed and ferocity with which the financial markets have been moving as of late have been mind-boggling ...
Even consumers that are typically only casual observers of the financial markets, not participants in them, are aware of the market's recent erratic and volatile behavior. Reports of the markets are everywhere. The level and the speed of the changes taking place have been alarming ... so much so that the trading markets have actually shut down twice (so far). Hopefully, brighter and calmer days are ahead. But until that takes place, special precautions … (5 comments)
The Mortgage Advice & Options Un-Married Couples Need to Know
It probably comes as no big surprise, when it comes to the housing market, the younger generations make up the largest percentage of home buyers.
The following statistics from the National Association of REALTORS® Research Group April 2019 Report proves that to be true ...
Millennials made up the largest share of home buyers at 37%. (Breakdown: Older Millennials (Ages 29 yrs to 38 yrs) made up 26%. Younger Millennials (Ages 21 yrs to 28 yrs) made up 11% of the shares reported) 86% of Younger Millennials and 52% of Older Millennials were first-time homebuyers … (34 comments)
homebuying advice: Student Loan Debt Solution Found via Fannie Mae's "Student Loan Cash-Out Refinance"
- 12/12/18 01:04 PM
Student Loan Debt Solution Found via Fannie Mae's "Student Loan Cash-Out Refinance" Mounting Student Loan debt has become a huge concern ... This is true not only for individuals carrying student loan, but for GSE's (Government Sponsored Enterprises) like Fannie Mae that oversees and ensure mortgage liquidity and guidelines to Banks, Lenders, and Mortgage Providers. In a previous post, I noted that Fannie Mae had revised guidelines as they pertain to treatment of Student Loan Debt when applying for loan. Those changes were favorable for Home Buyers carrying student loan debt, as they allowed Mortgage Underwriters some flexibility in examining and allocating for student loans. This new more relaxed … (15 comments)
Begin by focusing on your future mortgage needs ... So ... you've heard that securing a mortgage and financing a home can be challenging? The mortgage process can seem a bit daunting to some First-Time Home Buyers. But I'm here to tell you, it doesn't have to be that way. Your home buying dream can become a reality if you prepare yourself and devise a plan, and then stick to that plan. Here's how and where to start ...
It's always a wise first step to thoroughly educate and … (31 comments)
A statement I often hear from my new mortgage clients is ...
"I found a house! I just love it!"
I think that's exactly what you should hear from clients searching for a home. A home that will house their life ... and probably represents the single-most expensive expenditure they've made in their lives. And as their Loan Officer, it's certainly something I want them to feel and experience.
But I also know moving forward, that the intense emotional connection they have towards the home they love and want typically serves as a positive motivating factor during their mortgage process. Clients "in love" with … (35 comments)
homebuying advice: From Santa's Helper ... to Successful Home Buyer - Borrower
- 10/25/16 07:05 AM
My Mother-in-law, Pauline was a super "Santa's Helper". In fact, I think she just may have authored the Elves' training manual for Santa ... All holidays were never too far from her mind. Never too far off on the calendar for her to be thinking and planning for them. Whether it was meals, gifts, preparing her home, or family and friends gathering, she was busy like a buzzing bee. But Christmas? That was special ... her favorite ... and she pulled out all the stops. As a farmer's wife and a child of the Depression, she had learned to … (8 comments)
In recent weeks, there has been some very good news in home financing for homeowners that choose to retain their primary home (or can't sell because they're underwater) while pursuing the purchase and financing of a new home ...
Underwriting Guidelines that play a predominant role in the financing of these types of purchases have now been relaxed. New Guidelines now allow a more manageable level of funds (less than before) be required to buy and close on these new homes.
The housing decline that took place between 2008 … (65 comments)
The summer has slipped away quickly. And schools are already back in session or will be soon ... It makes it the perfect time to talk about the value of "learning", specifically within the financing process. Both from the homebuyer's perspective and the Mortgage Lender's. Because basically, that's what much of it is. Learning ... I know that this learning portion comes under fire fairly frequently these days. Many think there's way too many questions asked and too much info required. But I think that's giving it somewhat of a bum … (7 comments)
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