home buying: Solar Roof Panels: A Mainstream Option For Homeowners? - 04/25/18 01:30 PM
Do rooftop solar panels add value to a home, and are they cost-effective in terms of energy savings? The short answer is yes, say the experts. Although more than a million U.S. homes boasted solar panels in 2016, the percentage of solar-equipped households is still miniscule. 
That may change, however, as domestic prices for solar installations continue to decrease and property values rise.
The Pros And Cons Of Solar
While there is global agreement on the need to encourage cost-effective, non-polluting renewable energy sources, it is also acknowledged that solar effectiveness is not equal in all locations or situations. 
Several Southwestern states boast abundant sunshine, a high percentage … (0 comments)

home buying: Best Tax Deductible Home Improvements for Homeowners - 04/19/18 11:21 AM
Before delving into tax-deductible home improvements, it’s important to understand that these tax deductions won’t be applied immediately. In most cases, homeowners can only benefit, tax-wise, from their home renovations later, when they sell their home.
It’s important for homeowners to keep receipts for their improvements, though so they have proof of the improvements they made, even if it’s years later when they sell their residence.
Typical Renovations/ Home Improvements That Can Yield Eventual Tax Benefits
A home improvement is any project that substantially adds value to a home. It can include adapting it to be more useful or be improvements that allow it … (0 comments)

home buying: Should You Pay Discount Points When You Get Your Mortgage? - 04/17/18 03:17 PM
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 buy “discount points” to lower your interest rate.
There are pros and cons to doing both and each borrowers situation will be different so it’s important to understand which option is best for your individual situation. Some factors you should consider include:
Cost of borrowing – generally speaking, to lower your interest rate will mean you pay a premium. Most … (2 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 16th, 2018 - 04/16/18 07:07 AM
Last week’s economic reports included readings on inflation, the minutes of the most recent meeting of the Fed’s Federal Open Market Committee and weekly reports on mortgage rates and first-time jobless claims. The University of Michigan released its Consumer Sentiment Index for April.
Inflation Grows, Fed Indicates Future Rate Hikes Likely
The minutes of the Federal Open Market Committee Meeting held March 20 and 21 indicate Fed policymakers are likely to increase the target federal funds rate at their June meeting. Economic indicators including strong labor markets and low unemployment rate were cited as contributing to expectations for federal rate hikes throughout 2018.
How the … (0 comments)

home buying: Look Beyond The Interest Rate: What Else Matters When Choosing A Mortgage Lender? - 04/12/18 02:48 PM
Most consumers securing a mortgage plan to remain in that loan for 30 years. During that time, the borrower maintains a relationship with the loan servicer or lender. Most often, home buyers do not think twice about who the mortgage lender is, but rather focus on the interest rates offered.
Look beyond this information. Borrowers need to take into consideration much more before they sign on the dotted line. Here’s what to look for specifically:
Choosing a Specialized Lender Can Help
Home buyers interested in special loan programs must select a lender approved to provide those loans. FHA, USDA and VA loans, in particular, … (0 comments)

home buying: Manage These 3 Items Before Applying For A Mortgage - 04/11/18 05:55 AM
Mortgage lenders weigh the risk of getting their principal and interest paid back by looking at the qualities of the prospective borrrower. And due to the amount of money being requested and lent to purchase homes, those requirements can become daunting.  Working with a trusted and qualified mortgage professional makes this sometimes confusing process a little clearer.
To this end, there are three things that a potential homebuyer can do to prepare for the mortgage approval process.
Manage Debt And Credit Levels
For many homebuyers, managing their credit score is the biggest challenge. Mortgage lenders like buyers with strong credit. While getting strong credit … (1 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 9th, 2018 - 04/09/18 07:07 AM
Last week’s economic reports included readings on construction spending, mortgage rates and weekly jobless claims. Other labor-related claims included ADP payrolls, Non-Farm Payrolls and the national unemployment rate.
Construction Spending Rises in February
Construction spending was higher in February according to the Commerce Department. Spending on building projects rose by 0.10 percent in February Reuters reported that construction spending rose 0.10 percent as compared to expectations of an 0.40 percent increase and January’s unchanged reading. Seasonal weather conditions typically cause lulls in building. Analysts said that residential construction spending increased by 0.10 percent to its highest level since January 2007.
Real estate analysts have … (1 comments)

home buying: What’s Ahead For Mortgage Rates This Week – March 26th, 2018 - 03/26/18 08:00 AM
Last week’s economic releases included readings on new and pre-owned home sales and the Federal Open Market Committee’s customary post meeting statement. Fed Chair Jerome Powell gave his first press conference as Chair of the Federal Reserve and FOMC. Weekly readings on mortgage rates and first-time jobless claims were also released.
February Sales of Pre-Owned Homes Exceed Expectations, New Home Sales Fall Short
Sales of previously-owned homes exceeded expectations at a seasonally-adjusted annual rate of 5.54 million sales. Analysts expected a rate of 5.40 million sales based on January’s reading of 5.38 million sales.
Lawrence Yun, National Association of Realtors® Chief Economist, said that low … (0 comments)

home buying: What Changes Occurred In FHA And FNMA Rules During 2018? - 03/22/18 02:07 PM
The FNMA HomeReady Program
Those who are involved in the mortgage industry must keep updated on changes to FHA, and Fannie Mae (FNMA) loans. Since loan limits and other changes are often made annually, keeping up with these changes helps make sure consumers get the right information at the time of their application.
Many of the changes for 2018 are modest, but still impact existing, and new homeowners.
Changes To Loan Limit Amounts
FHA loan limits change on an annual basis as per the Housing and Economic Recovery Act of 2008. Using this, the FHA is required to base the insured mortgage amounts on 115 … (1 comments)

home buying: 7 Excellent Ideas For Building An Eco-Friendly Home - 03/21/18 01:20 PM
In recent years, building an environmentally friendly home or updating an existing home to be more energy efficient has become much more mainstream. While building an entirely green residence isn’t always fiscally possible, simple eco-friendly building techniques and upgrades will ultimately lower your water and electricity bills.
These green home improvements will save you money in the long run, while also saving the planet. The following are some of the easiest ways to lower your carbon footprint when building or updating a home. 
Build or Purchase a Smaller Home
Smaller homes naturally have a lower impact on the environment. There is less square footage to cool and heat, … (1 comments)

home buying: Moving From An Apartment To A House? What To Remember About Your Lease - 03/16/18 01:06 PM
The major problem that the vast majority of buyers will run into – especially when purchasing their first home – has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. If you locate the perfect home in February but your lease isn’t over until August, you can’t be expected to wait around.
But at the same time, the remainder of that lease agreement could represent thousands of dollars that you’ll be paying to essentially “live” in two different places at the same time.
Luckily, all hope is not lost. There are a … (2 comments)

home buying: The Benefits & Drawbacks Of Putting 20 Percent Down On A Home Purchase - 03/15/18 12:41 PM
Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn’t save this substantial amount, the reality was that for the majority of people, the 20 percent down was a requirement.
It was the way to show that you were financially responsible enough for homeownership. And it was a strong way that the banks felt secure in making a home loan.
Today, however, homebuyers have many options available to them as they shop for a new home, and those mortgage options mean … (0 comments)

home buying: What Items Can Change My Mortgage Pre-Approval Status? - 03/15/18 12:38 PM
When you are purchasing a home, your lender may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals.
So the question many buyers have is what exactly is a mortgage pre-approval? In a nutshell, it’s when the lender provides you (the buyer) with a letter stating that your mortgage will be granted up to a specific dollar amount.
What Do I Need For Pre-Approval?
In order to obtain a pre-approval for your home purchase, you will have to provide your … (0 comments)

home buying: What’s Ahead For Mortgage Rates This Week – March 12th, 2018 - 03/12/18 11:26 AM
Last week’s economic releases included reports on Non-Farm Payrolls, ADP payrolls, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released.
Public and Private Sector Jobs Show Mixed Readings
ADP Payrolls reported 235,000 private sector jobs added in February as compared to January’s updated reading of 243,000 jobs added. Analysts estimated 205,000 private sector jobs would be added, but this was based on the original reading of 234,000 jobs added. February was the fourth consecutive month when private sector job growth exceeded 200,000 jobs.
According to the federal government, Non-Farm payrolls added 74000 public and private-sector jobs … (0 comments)

home buying: 3 DIY Projects That Will Keep You Busy Until the Weather Warms Up - 03/09/18 07:17 AM
Do you find yourself staring out the window, longing for an early sunrise, hot days and late evenings? With spring just around the corner, it might feel like summer is a lifetime away.
However, the good news is that you can be productive around the home while you wait for summer to arrive. Let’s take a quick look at three easy do-it-yourself projects that will keep you busy until the summer sun is shining.
Add A Splash Of Spring-y Color
As long as you are willing to do the prep work, painting is one of the most straightforward home improvement projects you can undertake. … (1 comments)

home buying: The Benefits of Using a Veterans (VA) Loan To Purchase Your Home - 03/07/18 10:08 AM
U.S. military veterans have opportunities to enjoy some richly-deserved benefits in other aspects of their lives, including some special options for financing their homes. VA loans may give active military personnel, retired veterans, and sometimes surviving family members of veterans the ability to purchase homes that might not prove available to them through more conventional mortgage loans.
But the mere fact that you can do a thing doesn’t necessarily mean that you should. In some circumstances, military home seekers may find other types of loan options more amenable to their specific needs.
If you’ve decided to pursue a mortgage loan during or following your military … (0 comments)

home buying: What’s Ahead For Mortgage Rates This Week – March 5th, 2018 - 03/05/18 07:12 AM
Last week’s economic releases included readings on new home sales, pending home sales and Case-Shiller Home Price Indices. Construction spending and consumer sentiment reports were also released, along with weekly readings on average mortgage rates and new jobless claims.
New Home Sales Drop in January
New home sales were reported at a seasonally-adjusted annual rate of 593,000 sales in January according to the Commerce Department. Analysts expected a rate of 693,000 sales based on December’s upwardly revised rate of 643,000 sales of new homes. January’s reading was 7.80 percent lower than for December; January’s reading was one percent lower than for January of 2017.
The average … (0 comments)

home buying: Should You Get Pre-Qualified Or Pre-Approved For Your Home Purchase? - 03/01/18 10:36 AM
Often times, home buyers can be disappointed when they find their dream home only to discover they are not able to get a mortgage to purchase the property. There are methods that potential buyers can use to ensure this does not happen to them.
One of the options is to ensure you obtain a pre-qualification from your lender. It is important to understand the difference between a pre-approval and a pre-qualification. While both are helpful, they do not carry the same weight.
What are the differences between these options?
A pre-qualification allows a borrower to determine how much money they may be able to … (1 comments)

home buying: How To Use Your Down Payment to Achieve Your Home Buying Goals - 02/27/18 01:21 PM
When you are considering purchasing a home , understanding the lending guidelines regarding a down payment is important. 
Here are a few key tips to consider:
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 require the person making the gift to provide a letter stating the money was a gift and does not require repayment.
Windfalls as a Down Payment
When people hit the lottery or come into money through an inheritance, one of … (1 comments)

home buying: Questions and Answers Regarding Escrow Accounts - 02/21/18 10:50 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 account … (0 comments)

 
Joe Gonzalez, NMLS# 126036 (610) 739-6563 (CrossCountry Mortgage, LLC NMLS #3029)

Joe Gonzalez

NMLS# 126036 (610) 739-6563

King of Prussia, PA

More about me…

CrossCountry Mortgage, LLC NMLS #3029

Address: 625 W. Ridge Pike, Building C, Suite 100, Conshohocken, PA, 19428

Office: 610.355.8039

Mobile: 610.739.6563

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