orlando fha loans: What's My Debt-to-Income (DTI) Ratio?
- 05/02/11 01:27 AM
Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing.
DTI is a component of the mortgage approval process that measures a borrower's Gross Monthly Income compared to their credit payments and other monthly liabilities.
Debt-to-Income Ratios are designed to give guidance on acceptable levels of debt allowed by particular lenders or programs.
There are actually two...
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What's My Debt-to-Income (DTI) Ratio?
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orlando fha loans: Pending Home Sales Point To Seller's Market This Summer
- 04/30/11 01:13 AM
The National Association of REALTORS® Pending Home Sales Index rose for the third straight month last month.
A "pending home sale" is a home under contract to sell, but not yet closed.
The Pending Home Sales Index rose 5 percent in March, posting its second-highest reading since April 2010. Not coincidentally, that month marked the expiration of...
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Pending Home Sales Point To Seller's Market This Summer
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orlando fha loans: A Simple Explanation Of The Federal Reserve Statement (April 27, 2011 Edition)
- 04/28/11 01:59 AM
Earlier today, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.
The vote was 10-0 -- the third straight meeting after which the FOMC vote was unanimous.
In its press release, the FOMC noted that since its March 2011 meeting, the economic recovery is proceeding "at a moderate pace" and that labor markets conditions are "improving gradually". Household spending and business investment "continue[s] to....
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A Simple Explanation Of The Federal Reserve Statement (April 27, 2011 Edition)
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orlando fha loans: New Home Supply Falls To 16-Year Low
- 04/28/11 01:49 AM
After posting an all-time low in February, New Home Sales rebounded strongly last month.
Based on joint research from the Census Bureau and HUD, 300,000 new, single-family homes were sold on a seasonally-adjusted, annualized basis in March. It's an 11 percent improvement from February, and right in-line with the 6-month average.
The supply of....
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New Home Supply Falls To 16-Year Low
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orlando fha loans: Mortgage Rates -- And Home Affordability -- At The Whim Of The Federal Reserve
- 04/27/11 01:45 AM
The Federal Open Market Committee starts a two-day meeting today, the third of its 8 scheduled meetings this year.
The FOMC is a special, 12-person committee within the Federal Reserve. It's led by Fed Chairman Ben Bernanke and the group is responsible for voting on our nation's monetary policy. This includes setting the Fed Funds Rate, the rate at which banks borrow money from each other overnight.
The general public tends to...
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Mortgage Rates -- And Home Affordability -- At The Whim Of The Federal Reserve
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orlando fha loans: How To Make More Space In Your Garage
- 04/26/11 01:48 AM
How do you use your garage? If you're like most homeowners, you park your car(s) in it, then use the remaining available space for the random storage of "things that don't go in the house".
Your garage can do so much more -- all it needs is a little bit of organization.
In this 4-minute video from Lowe's YouTube series, you'll see how cabinetry, shelving, hooks and a master plan can add purpose to....
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How To Make More Space In Your Garage
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orlando fha loans: VA Loan Requirements & Eligibility
- 04/25/11 01:47 AM
Veterans with active duty service (who were not dishonorably discharged) during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days of service.
Veterans and active duty military personnel who served during peacetime must have had more than 180 days of active service. Veterans of enlisted service starting after September 7, 1980, or officers with service beginning after October 16,1981, must in...
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orlando fha loans: Demand Is Rising, Supplies Are Falling : Home Prices Set To Rise?
- 04/22/11 08:18 PM
Home resales rose 4 percent last month, according to the March Existing Home Sales report. A total of 5.1 million homes were sold on an annualized, seasonally-adjusted basis.
The strong results re-establish the national, long-term trend toward rising home resales.
March marked the 6th month out of....
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Demand Is Rising, Supplies Are Falling : Home Prices Set To Rise?
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orlando fha loans: Building Permits Rise In All 4 Regions
- 04/21/11 12:52 AM
According to the Census Bureau, seasonally-adjusted, single-family Housing Starts rebounded in March, increasing 8 percent over February's 2-year low.
We can't put too much faith in the data, however, because for the second straight month, the government reports that the data's margin of error -- 15 percent -- exceeds its....
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Building Permits Rise In All 4 Regions
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orlando fha loans: As Buyer Traffic Grows, Homebuilder Confidence Slips
- 04/20/11 01:48 AM
Homebuilder confidence is falling -- a good sign for buyers of newly-built homes in and around The Crossings.
According to the National Association of Homebuilders, the Housing Market Index slipped one point to 16 in April. It's the 5th time in 6 months that the index read 16 -- a figure exactly in line with the 1-year average, but still considered "poor". The Housing Market Index reports on....
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As Buyer Traffic Grows, Homebuilder Confidence Slips
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orlando fha loans: Which Is Better : Fresh Produce Or Frozen Produce?
- 04/18/11 05:25 PM
There's a long-standing myth that freezer-section produce is "worse for you" than fresh produce from a farm. The truth, however, is often the opposite.
Because of upgrades in packaging and delivery methods, frozen produce is often more fresh than "fresh produce", and contains higher nutrient levels, too.
The key is to know how to shop for it.
The main advantage that frozen produce carries over fresh produce is that frozen produce is picked in its....
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Which Is Better : Fresh Produce Or Frozen Produce?
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orlando fha loans: What Is The VA Funding Fee?
- 04/17/11 04:59 PM
The VA Funding Fee is a fee that is required in order to receive a VA loan.
There are a few exceptions that allow for the fee to be waived:
Veterans who are getting VA compensation due to service related disabilities. Veterans who would be receiving VA compensation due to service related disabilities if they were not already receiving retirement pay. Loans for spouses of veterans who passed away in service or because of service related disabilities. VA funding rates have changed over time, but the rates listed in this article are for VA loans that will be closed before October … (2 comments)
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orlando fha loans: Foreclosures Drop 35 Percent Year-Over-Year
- 04/15/11 05:14 PM
Foreclosure activity is much slower this year than last.
According to foreclosure-tracking firm RealtyTrac, the number of national foreclosure filings plunged 35 percent in March 2011 as compared to March 2010, a statistic that reflects a more healthy housing market and more robust outlook for 2011.
A "Foreclosure filing" is defined as....
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Foreclosures Drop 35 Percent Year-Over-Year
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orlando fha loans: Get Your Applications In : FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011
- 04/14/11 01:58 AM
After this week ends, the FHA is raising mortgage insurance premiums on its new Orlando borrowers. It's the FHA's third such increase in the last 12 months.
Beginning with FHA Case Numbers assigned April 18, 2011, mortgage insurance premiums will be higher by 25 basis points per year, or 0.25%.
Against a $200,000 loan size, the MIP increase....
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Get Your Applications In : FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011
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orlando fha loans: Retail Sales Report Should Spell Higher Mortgage Rates For Wednesday
- 04/14/11 01:51 AM
Consumer spending is alive and well, it seems -- unwelcome news for today's home buyers.
Wednesday, the Census Bureau will release its March Retail Sales figures and the report is expected to show higher sales receipts for the 9th straight month. A strong reading like...
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Retail Sales Report Should Spell Higher Mortgage Rates For Wednesday
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orlando fha loans: How Healthy Is Your Bedroom?
- 04/11/11 02:13 AM
Most people spend about one-third of their life in the bedroom. So, how healthy is yours?
In this 5-minute piece from NBC's The Today Show, you'll learn about dust mites, mold and the other hidden health risks in your bedroom. Some may be compriming your sleep, and others your well-being.
The interview is comprehensive and covers a lot of....
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How Healthy Is Your Bedroom?
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orlando fha loans: What's The Difference Between Interest Rate and Annual Percentage Rate (APR)?
- 04/11/11 01:59 AM
The difference between APR and actual note rate is very confusing, especially for First-Time Home Buyers who haven't been through the entire closing process before.
When shopping for a new mortgage loan, you may notice an Annual Percentage Rate (APR) advertised next to the note rate. The inclusion of an APR is actually mandated by federal law in order to help give borrowers a standard rule of measurement for comparing the total cost of each loan.
The APR is designed to....
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What's The Difference Between Interest Rate and Annual Percentage Rate (APR)?
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orlando fha loans: How Does Your Real Estate Tax Bill Compare To Other Parts Of The Country?
- 04/08/11 01:48 AM
Mortgage rates may be a function of free markets, but real estate taxes are a function of government. And, depending on where you live, your annual real estate tax bill could be high, low, or practically non-existent.
Compiling data from the 2009 American Community Survey, the Tax Foundation, a non-partisan educational organization in Washington D.C., published property taxes paid by owner-occupied households, county-by-county.
The report shows huge disparity in annual property taxes by region, and by state.
As a percentage of....
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How Does Your Real Estate Tax Bill Compare To Other Parts Of … (2 comments)
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orlando fha loans: March Fed Minutes Show Inflation Risks And Rate Hikes On The Horizon
- 04/06/11 04:49 PM
The Federal Reserve released its March 15 meeting minutes Tuesday. The notes revealed a Federal Reserve split between optimism and caution for the U.S. economy.
The minutes' official name is "Fed Minutes". It's a periodic publication, published 3 weeks after each meeting of the Federal Open Market Committee. The FOMC meets...
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March Fed Minutes Show Inflation Risks And Rate Hikes On The Horizon
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orlando fha loans: Plan To Sell Within 5 Years? Consider An Adjustable-Rate Mortgage.
- 04/06/11 12:27 AM
Which is better -- a fixed-rate mortgage or an adjustable-rate mortgage? It's a common question among home buyers and refinancing households in Florida.
The answer? It depends.
Fixed-rate mortgages give the certainty of a known, unchanging principal + interest payment for the life of...
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Plan To Sell Within 5 Years? Consider An Adjustable-Rate Mortgage.
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Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing.
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