mortgage: VA Home Loans by the Numbers [INFOGRAPHIC]
- 11/08/19 07:49 AM
Some Highlights: The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans and 2 million active duty service members to help them achieve the dream of homeownership. In 2018, $161 billion was loaned to veterans and their families through the program. In the same year, the average loan amount was $264,197 and 610,513 loans were guaranteed. We hope you found this information helpful. Contact us today for all your real estate needs. team@davidsonhomegroup.com Download Our Home Search App Portland-Vancouver Home Price Check Oh, by the way … if you know of someone who would appreciate the level of service we … (0 comments)
mortgage: Taking the Fear Out of the Mortgage Process
- 10/31/19 08:05 AM
Shutterstock A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage. For many, the mortgage process can be scary, but it doesn’t have to be! In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history. Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow: Find out your current credit history and credit score– … (0 comments)
mortgage: Buying a home can be SCARY…Until you know the FACTS [INFOGRAPHIC]
- 10/25/19 12:10 PM
Some Highlights:Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process: 71% of buyers who purchased homes have put down less than 20%. 78.1% of loan applications were approved last month. In September, the average credit score for approved loans was 737. We hope you found this information helpful. Contact us today for all your real estate needs. team@davidsonhomegroup.com Download Our Home Search App Portland-Vancouver Home Price Check Oh, by the … (0 comments)
mortgage: What You Need to Know About the Mortgage Process
- 10/11/19 07:37 AM
Some Highlights: Many buyers are purchasing homes with down payments as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn more. We hope you found this information helpful. Contact us today for all your real estate needs. team@davidsonhomegroup.com Download Our Home Search App Portland-Vancouver Home Price Check Oh, by the way … if you know of someone who would appreciate the level of service we provide, please call us with their name and business number. We’ll … (0 comments)
mortgage: The Fed Will Probably Cut Rates Today
- 09/18/19 08:38 AM
By Matthew C. Klein – Barron’s Photo: Washington Examiner Market prices currently imply a 90% chance the Federal Reserve will reduce short-term interest rates by a quarter-point to a range of 1.75%-2.0% when policy makers meet this week. Such a move would be consistent with the Fed’s “midcycle adjustment” that began in July. The interesting question, therefore, is not what the Fed will do to rates when its two-day policy meeting concludes Wednesday, but what it will indicate it wants to do over the next few years. Current pricing implies a 60% chance that the Fed’s rate band will be lowered again before the end of 2019, and … (0 comments)
mortgage: Things to Avoid After Applying for a Mortgage
- 09/16/19 01:47 PM
Shutterstock Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan. Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may seem obvious, but some may not. 1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must be able to track the … (2 comments)
mortgage: What’s the Latest on Interest Rates?
- 08/27/19 08:11 AM
Shutterstock Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market. According to Freddie Mac’s Primary Mortgage Market Survey, “the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.” Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states, “…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.” As a potential buyer, the best thing you can do is work … (1 comments)
mortgage: WHERE ARE MORTGAGE INTEREST RATES HEADED IN 2019?
- 09/25/18 09:58 AM
Download your HOME SEARCH app What’s my HOME WORTH in today’s market? The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next year. HOW WILL THIS IMPACT YOUR MORTGAGE PAYMENT?Depending on the amount of the loan that you secure, a … (0 comments)
mortgage: 25% OF HOMES WITH A MORTGAGE ARE NOW EQUITY RICH!
- 09/19/18 08:37 AM
Download your HOME SEARCH app What’s my HOME WORTH in today’s market? Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position. Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they … (0 comments)
mortgage: Cost Across Time [INFOGRAPHIC]
- 07/06/18 08:35 AM
Download your HOME SEARCH app What’s my HOME WORTH in today’s market? Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.1% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant! Lock in a low rate now while you can! We hope you found this post informative. Contact us today for all your real estate needs. team@davidsonhomegroup.com Download your HOME SEARCH app What’s my HOME WORTH in today’s market? Oh, by the … (0 comments)
The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them. This brings us to two major misconceptions that we want to address today. 1. Down PaymentA recent survey by Laurel Road, the National Online Lender and FDIC-Insured Bank, revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According … (1 comments)
With home values appreciating at record rates, some are concerned that we may be heading for another housing bubble like the one we experienced a decade ago. One of the major culprits of that housing boom and bust was the loosening of standards for mortgage credit. In a study done at the University of North Carolina immediately after the crisis, it was revealed that: “Lenders began originating large numbers of high risk mortgages from around 2004 to 2007, and loans from those vintage years exhibited higher default rates than loans made either before … (0 comments)
Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate. However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the rise in rates. Mark Fleming, First American’s Chief Economist: “Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage … (0 comments)
;)
;)
