fastclosingnow: Fannie Mae And Freddie Mac, How They Impact Real Estate - 01/24/14 04:38 AM
Fannie Mae and Freddie Mac have been in the news quite a bit over the past few years, so it's a good time to do a refresher on who they are and what role they play in the real estate market.
Who Are Fannie Mae And Freddie Mac?
Fannie Mae is the Federal National Mortgage Association. Freddie Mac is the Federal Home Loan Mortgage Corporation. They were originally created to raise homeownership levels and increase the availability of affordable housing.
Fannie and Freddie don't sell mortgages directly to homeowners. They buy mortgages from lenders, so the lenders can use the money … (0 comments)

fastclosingnow: The Simplest Ways To Lower Your Home Heating Bill This Winter - 01/24/14 04:31 AM
When the holiday season starts and the winter chill comes around, the heating bill at your property will naturally increase as you keep yourself warm and cosy. However, if your home is not being heated efficiently, you are essentially letting your hard earned dollars escape into the air as wasted energy.
What are some simple and inexpensive ways that you can cut down your heating expenses this winter and save yourself some money?
Only Heat The Rooms You Are Using:
If you work from home and are spending eight hours of the day sitting in your home office, there is no … (0 comments)

fastclosingnow: Pros And Cons Of Adjustable Rate Mortgages! - 01/23/14 07:36 AM
When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage.
In some cases, an adjustable rate mortgage may be your best option, but keep in mind, they are not the answer for everyone. Adjustable rate mortgages can be risky for some borrowers and it's important to understand both the pros and cons.
When To Consider An Adjustable Rate Mortgage:
Perhaps one of the best things about ARMs is they typically … (0 comments)

fastclosingnow: Flaws You Cannot Hide By Staging Your Home - 01/23/14 07:23 AM
When you sell your home, you want it look as good as possible. To do this, your real estate agent will help you stage your home or, if needed, help you find a professional to stage your home.
This means de-cluttering your home, re-arranging furniture, and de-personalizing each room.
A staged home is more appealing to buyers and helps to highlight your home's positive features. However, staging is not meant to cover major flaws in your home. Some things just have to be repaired.
Roof Problems:
It doesn't matter how pretty your home is, your buyer is going to expect you … (2 comments)

fastclosingnow: Should I Shorten My Mortgage Term, Important Factors To Consider! - 01/23/14 07:16 AM
When you first bought your home a few years ago, perhaps you started off with a 30 year mortgage. Now, you are considering refinancing and changing it to a 20 year or even a 15 year mortgage.
Shortening your mortgage term and refinancing can be a smart financial move, but before you make this decision there are a number of factors that you should consider.
Switching to a shorter mortgage will mean that your monthly payments will be higher, but you will be 100% paid off much sooner and you will save thousands of dollars in interest rates. Here are a … (0 comments)

fastclosingnow: Build A Home Gym For Your New Year's Resolution - 01/22/14 08:20 AM
While many people claim every January that they are going to exercise more, a lot of them give up after the first couple of months. It takes a great deal of effort to make it to the gym before work or have the energy to go afterward.
So don’t make a New Year’s resolution you know you won’t keep. Set yourself up for success by bringing the workout to you. Build your own home gym.
Designate A Space:
The ideal situation would be to dedicate an entire room to your new home gym. That way you can close the door, crank … (0 comments)

fastclosingnow: Dodd-Frank's Latest Gift: The Qualified Mortgage Rule! - 01/15/14 05:55 AM
The Dodd-Frank Wall Street Reform and Consumer Protection Act's latest provision - the Qualified Mortgage rule - is going to effect on January 10, 2014.
While, like many of Dodd-Frank's other features, its ability to protect customers remains to be seen, one of its impacts is already clear. Taking out a home loan just got harder.
The QM rule contains a set of provisions that, if followed, may protect lenders from lawsuits. They will also make it harder for customers to qualify to borrow money to buy a house.
Verifying Incomes:
Lenders now have to follow stringent procedures to verify that borrowers can … (0 comments)

fastclosingnow: 3 Considerations When Making A Down Payment - 01/15/14 05:47 AM
One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to pay "discount points" to lower your interest rate.
There are pros and cons to doing both and each borrower's situation will be different so it's important to understand which option is best for your individual need.
Some Factors You Should Consider Include:
Cost Of Borrowing - generally speaking, to lower your interest rate will mean you pay a premium. … (1 comments)

fastclosingnow: Case-Shiller Price Index Shows Highest Year-Over-Year Gains Since 2006 - 01/15/14 05:39 AM
The Case-Shiller 10 and 20-City Home Price Indices for October were released on December 31. Although home prices in most cities continued to show year-over-year gains, the pace of home price appreciation is expected to slow in 2014.
Year-over-year increases have been in double digit territory since March 2013, but month-to-month readings suggest that the rate of increasing home prices is slowing.
According to David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, "...the monthly numbers show that we are living on borrowed time and the boom is fading."
The 10 and 20 city indices are showing that … (0 comments)

fastclosingnow: 5 Ways To Use Your Dead Christmas Tree - 01/15/14 05:01 AM
The holiday season is coming to an end. It's time to pack up the stockings, and take the ornaments off the tree.
That tree was a beautiful Christmas decoration, but now that the evergreen is turning brown, and its needles are falling all over the carpet, you realize it's time to get it out of the house.
But don't just throw it away. You have several options. Here are five interesting ways to use your dead Christmas tree.
It's For The Birds:
Keep the tree in its stand and set it outside. You can put some birdhouses in it, or surround … (0 comments)

fastclosingnow: Face The Numbers, A Mortgage That Works For You - 01/13/14 10:14 AM
Before taking out a mortgage to buy a home, it's time to take a realistic survey of your finances so that you can determine your price range and what size of home you can comfortably afford.
Buying a home that suits your finances will mean that your mortgage payments will be easily within your budget and won't cause you financial stress.
Stay In Your Price Range:
Many people, when offered a large mortgage by the bank, are tempted to buy homes that are outside of their price range.
It's easy to see why a larger property or a more luxurious home … (1 comments)

fastclosingnow: New Home Sales Show Healthy Year-Over-Year Increase - 01/13/14 10:10 AM
The holiday season and winter weather slowed home sales in November. Last week, the NAR reported that sales of existing homes had slumped to their lowest level in nearly a year, but this was not unexpected.  
Short supplies of available homes and rising mortgage rates have increased pent-up demand for homes have kept some buyers on the sidelines.
Improvement In The Labor Market:
4.90 existing homes were sold in November; this was lower than the 5.13 million existing homes sold in October, as well as lower than expectations of 5.00 million existing home sales in November.
Existing home sales for … (0 comments)

fastclosingnow: How To Build An Outdoor Fire Pit - 01/13/14 10:05 AM
With most of the country easing into full-on winter weather, last-minute outdoor projects need to happen soon. And what better way to enjoy a cozy holiday season than by drinking hot chocolate and roasting marshmallows at your very own outdoor fire pit.
In one weekend, the steps below can help you build an outdoor fire pit and get you fired up about the cold!
Determine The Size And Location:
The first order of business is to choose where to build your outdoor fire pit. You want to make sure it's not too close to the house or overhanging trees.
Once you've … (2 comments)

fastclosingnow: Pitfalls And Warning Signs Of Making A Down Payment - 01/13/14 09:58 AM
When you already have a home, you may be interested in determining if a refinance is a good option. You will not have to worry about restrictions on down payments or some of the problems that can occur with a down payment.
However, if you are considering purchasing a home in or the surrounding communities, understanding down payment restrictions is important.
Gifting Of A Down Payment:
There are some programs that will allow you to use a gift for your home down payment. However, before you assume this, make sure you talk to your loan officer. Generally speaking, the lender will … (0 comments)

fastclosingnow: Fed Minutes Predicts Tapering Of Quantitative Easing Program - 01/13/14 09:51 AM
Housing Starts exceeded expectations and also beat October's reading of 889,000. November housing starts were posted at 1.09 million against a consensus of 963,000.
This reading is more in line with the NAHB/Wells Fargo Home builder Market Index, which reached a four month high with December's reading.
With that threat resolved and a new federal budget passed, builders can now proceed without worrying about setbacks caused by government shutdowns and legislative gridlock.
Building permits issued in November were slightly lower at 1.01 million than October's reading of 1.04 million. Viewed as an indicator of future construction, and ultimately, available homes, it … (0 comments)

fastclosingnow: Get The Overview On Escrow Accounts - 01/10/14 07:10 AM
Whether you are purchasing a new home or you are considering applying to refinance your home, chances are the lender will require an escrow account. These accounts are often a source of confusion for homeowners.
In reality, these accounts benefit the homeowner and help protect the lender.
What Is An Escrow Account?
Escrow accounts are sometimes called "impound" accounts. These accounts are set up to help manage payments of property taxes and homeowner's insurance.
Depending on the individual requirements of the lender, you may be asked to pay as much as one-quarter of these upfront and they will be put into the … (3 comments)

fastclosingnow: Santa's Landing Pad, Tips For Winter Roof Maintenance - 12/13/13 01:52 AM
It's that time of year again when the weather outside gets frightful but the holiday cheer is delightful. You've probably got a lot on your mind during these busy winter months, but make sure that you don't neglect the roof of your home.
Taking care of your roof is an important part of home maintenance and you don't want to suffer a leak or any other problem during the cold months.
So how can you make sure that Santa and his sleigh have a solid and well-maintained landing pad when they touch down at your house this year? Here are some … (1 comments)

fastclosingnow: Why Should My Clients Lock In Their Interest Rates - 12/12/13 08:43 AM
Interest rates fluctuate frequently, often depending on the news. If you are considering refinancing your home, your loan officer may suggest locking in the interest rate on your loan.
There are some valid reasons why this is a good idea including:
Saving Money For The Long-term:
Over the life of a loan, an increase of as little as one-quarter of a percent can cost thousands of extra dollars. Spending a small amount of money now to lock in a rate can save money over the life of the loan.
Your loan officer will explain the difference in rate increases initially, over … (0 comments)

fastclosingnow: The Pros And Cons Of Making Biweekly Mortgage Payments - 12/11/13 08:18 AM
Have you ever considered paying off the mortgage on your home in two biweekly payments rather than one monthly payment? It might seem like this wouldn't make a difference, but the truth is that biweekly payments really do add up more quickly.
Since there are 52 weeks in a year you will end up making 26 payments in total – which is equal to 13 months rather than 12. This means that your mortgage will be paid off more quickly and you will save money on interest payments in the long run.
This arrangement might be the best for you when … (0 comments)

fastclosingnow: The Low Down On The HUD-1 Settlement Statement - 12/11/13 08:12 AM
When preparing for a closing on your refinance or home purchase, one of the documents you will be provided with a few days before closing is a HUD-1 Form. This form provides you with valuable information about your loan.
While at first, this three page document may seem intimidating, if you understand what you see in each section, it is not as confusing as you might think. Let's break down the various parts of the HUD-1 and talk about what they mean.
Loan Information:
On the first page of your HUD1, you will see your loan information at the top. This … (0 comments)

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David Kosmecki

Osseo, MN

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Bay Equity

Address: 20965 South Diamond Lake Rd, Rogers, MN, 55374

Office: (763) 519-1100

Mobile: (763) 519-1100

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