We are almost in the 4th quarter of 2014- the home stretch of 2014. I can't tell you how many "sellers" I've talked to over the last 2 months who have said "I'm going to put my house on the market next year/spring." My typical response is "why are you waiting?" I live in the North East, Rhode Island specifically and every year the talk of the spring market gets buyers, sellers & Realtor's excited. Typically, homes for sale start going on the market in April and sell over the spring … (6 comments)
Budgeting to Buy a House No matter how good the credit rating, today's homebuyer no longer has the luxury of buying with little or zero down. Unless you are low-income with good credit, or a veteran, no-down loans are also a thing of the past. Most lenders today want at least 20 percent of the loan amount as a down payment on a house. For a home priced between $168,300 and $287,500, a homebuyer would need to come up with between $33,660 and $57,500 just for a down payment. Then, there are closing costs to consider. These vary by state, … (1 comments)
Imagine driving along on a quiet neighborhood road at 25 mph and then finding yourself instantly traveling 55 mph? Talk about the potential for unexpected turbulence and danger. Well that’s essentially what happened with mortgage interest rates during a one week period in mid-June. Now, there’s nothing too alarming about driving 55 mph, but when you were calmly doing 25 mph and suddenly get that kind of instant jolt it can freak you out. In the home buying and mortgage banking world it had just that kind of impact. It sent buyers, sellers … (0 comments)
How Your Credit Score Affects Your Mortgage Rate Credit checks are a necessary part of applying for any loan, but they are especially important during two stages of the loan process: on the day you apply for a mortgage and shortly before closing on the loan. The first credit check is to ensure that you pay your bills on time and have sufficient income to purchase the property. The last credit check before closing is the lender's last assurance that you are, indeed, creditworthy. Knowing what lenders look for on your credit report and in your FICO® score … (2 comments)
Advice for Sellers About Waiting for the Spring Market- DON'T!
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