mortgages: Buying a Home? 4 Steps to take to Ensure You Start out w/a Low Payment - 10/22/20 02:29 PM
Are you thinking about buying a new house or condo? If so, you’ve likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home.
Below we’ll share four easy steps that you can take to ensure you start out with an affordable monthly mortgage payment.
Make A Large Down Payment On Your Home
The easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you’ll be required to pay back.
If you can put a … (0 comments)

mortgages: A Guide to Preparing Your Finances for the Pre-Approval Process - 09/25/20 01:13 PM
Being pre-approved for a mortgage isn’t just a way to get a step ahead, in many cases it’s a necessity to buying a home. Many sellers don’t want to go through the negotiation process of selling their home only to have the buyer drop out when they can’t get approval for the mortgage they were relying on.
The Difference Between Pre-Qualification And Pre-Approval
Pre-qualification is a faster process than pre-approval and is usually a best estimate based on how the borrower answers certain questions about their financial history and status.
Pre-approval is way more valuable to a borrower than pre-qualification because it is a … (1 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – September 14, 2020 - 09/14/20 11:03 AM
Last week’s economic news included readings on inflation, job openings, and weekly reports on jobless claims and mortgage rates.
Inflation Rate Slows in August
After posting 0.60 percent growth for each month in June and July, the Consumer Price Index rose by 0.40 percent in August. These growth rates offset declines in inflation during the first three months of the COVID-19  pandemic. Used vehicle prices increased after deep discounts offered when the pandemic started; analysts said that rising prices for used vehicles offset losses in previous months and produced low inflation for August.
Core inflation, which excludes volatile food and energy sectors, mirrored results … (0 comments)

mortgages: How to Choose Between Refinancing Now or Waiting Until You Need Money - 08/27/20 12:18 PM
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit.
However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage.
Using Equity From Your Refinance
One factor to consider when debating between refinancing now and waiting relates to pulling equity out of … (0 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – August 10, 2020 - 08/10/20 08:24 AM
Economic readings released last week included construction spending, public and private-sector job growth, and government reports on initial and continuing jobless claims. Freddie Mac also released its weekly report on average mortgage rates.
Construction Spending Falls in June
Commerce Department reporting for June showed lower construction spending for the fourth consecutive month, but spending fell by -0.70 percent as compared to May’s negative reading of -1.70 percent. June’s construction spending was $1.36 million at a seasonally adjusted annual rate.
Residential construction spending fell by 1.50 percent in June as public construction spending fell by -0.70 percent. Analysts said that construction spending has held up … (1 comments)

mortgages: Why Now Is A Great Time To Apply For A Home Loan - 07/31/20 08:24 AM
The idea of owning a home is enough to bring joy to nearly anyone’s eyes. The reality is that many people are a bit skeptical about looking for a home in the present climate. While the pandemic can make it hard for people to go outside and explore, now is still a great time to apply for a home loan.
This is a great opportunity for people to fulfill their homeownership dreams. There are a few reasons why now is a great time to look for a home.
The Property Prices Are Low
First, property prices are low right now. There are a lot … (1 comments)

mortgages: Three Important Considerations When Buying Land to Build a New Home On - 07/22/20 11:07 AM
When most people talk about real estate, they envision buying an already-built house on already-landscaped property. However, buying vacant land and building a new home is a great way to ensure that you get the home that you want in the location that you want.
It’s also a major undertaking, which is why you should take these three considerations into account before you buy any land for your new home.
Location, Location, Location: It’s More Important Than You Think
People often hear the phrase “location, location, location” and it’s a very prudent maxim with buying land. The parcel of land that you buy should … (1 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – July 20, 2020 - 07/20/20 08:01 AM
Last week’s economic reports included readings from the National Association of  Home Builders on housing markets along with Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and unemployment claims were also released.
NAHB: Builder Confidence in Housing Markets Increases in July
Homebuilders gained confidence in housing market conditions as home buyers sought homes in less-congested suburban areas. Builder confidence rose 14 points to an index reading of 72 in July. NAHB Chair Chuck Fowke said, “Builders are seeing strong traffic and lots of interest in new construction as existing home inventory remains lean.”
Homebuyers sought larger homes … (0 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – July 13, 2020 - 07/13/20 11:44 AM
Last week’s scheduled economic news included readings on consumer credit, job openings, jobless claims, and mortgage rates.
Consumer Borrowing Declined at Slower Pace in May
According to Federal Reserve data, consumer borrowing fell at a slower annual pace of -5.30 percent in May as compared to April’s reading of -20 percent. Non-revolving consumer credit, which includes vehicle and student loans, increased by 2.30 percent in May. The Federal Reserve does not report on real estate loans.
Federal assistance programs including the first round of stimulus checks, additional unemployment payments and support for businesses contributed to better readings for the economy in May, but last … (0 comments)

mortgages: How Will Coronavirus Impact Our Real Estate Economy? - 05/20/20 09:27 AM
Without a doubt, the COVID-19 (coronavirus) pandemic has impacted every part of the economy. This is a dangerous virus and has left many parts of the country on lockdown orders to prevent it from spreading rapidly. The question many people are asking is how much the real estate is going to be impacted by the virus as well.
People Are Not Looking For Houses
One of the biggest impacts of coronavirus is that some people simply aren’t out looking for houses. Stay at home orders and social distancing measures have prevented people from touring homes that they may be interested in buying and … (2 comments)

mortgages: Case-Shiller: February Home Prices Gained Before Coronavirus Outbreak - 04/30/20 11:21 AM
Home prices continued to grow in February according to the Case-Shiller Home Price Indices. National home prices grew at a seasonally-adjusted annual pace of 4.20 percent as compared to national home price growth of 3.90 percent in January. Case-Shiller’s 20-City Home Price Index showed higher home price growth rates in February with average annual home price growth of 3.50 percent. January home prices grew by 3.10 percent for cities included in the 20-City Index.
The lowest year-over-year home price growth rates were posted by Chicago, Illinois with 0.70 percent; New York City posted 1.50 percent growth, and Dallas, Texas with 2.50 percent … (1 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – April 27th, 2020 - 04/27/20 07:51 AM
Last week’s scheduled economic news included readings on sales of new and previously-owned homes and consumer confidence. Weekly readings on mortgage rates and new jobless claims were also released.
COVID-19 Requirements Impact Home Sales
Widespread state and local requirements for sheltering at home negatively impacted home sales in March. New homes sold at an annual pace of 627,000 sales as compared to 741,000 sales reported in February. Analysts estimated 628,000 sales for March according to the Commerce Department.
The National Association of Realtors® reported lower sales of previously-owned homes in March with an annual pace of 5.27 million sales. February’s annual sales rate was … (1 comments)

mortgages: Disruptive Technology And The Real Estate Market - 04/22/20 09:26 AM
Recent advancements in technology continue to disrupt the real estate market. This includes the use of “Big Data” for data mining, artificial intelligence combined with machine learning, augmented and virtual reality, use of drones, blockchain technology, and the ongoing deployment of 5G.
The Use Of Big Data
Consumers have access to more information about real estate market conditions because of the collection and online presentation of the results of data mining “Big Data.” For example, it is easy to learn if a market is a buyer’s or a seller’s market by searching for the median number of days a house will be on … (2 comments)

mortgages: The Narrowing Gap Between Renting & Buying A Home In The US - 04/17/20 09:02 AM
According to data compiled by in the fourth quarter of 2019, it is still more affordable overall to rent versus buy a home — but just barely. The median monthly mortgage payment at the end of 2019 was $1,600, while the median monthly rent payment was $1,319. This is largely due to steadily-increasing rates, rising home prices, and near-record-low mortgage rates.
The study looked at 593 counties across the country. As compared to the fourth quarter of 2018, the average monthly cost of renting a home increased 4%, up from $1,254, while the average monthly cost of homeownership actually declined … (1 comments)

mortgages: Home Improvements For A New Home Or When Getting Ready To Sell - 04/14/20 07:46 AM
With time on our hands, many of us are busying ourselves with home improvement projects. Some simple changes can increase the attractiveness of a home and may help with a sale. If you are getting ready to sell your home or if you just want to beautify it a little, here are some low-cost tips for home improvements to consider.
Go Green
Adding indoor plants is nice and improves interior air quality. If you have the room for it, consider a vertical garden. A vertical garden may use the entire ceiling-to-floor area of one wall. With the proper type of grow lights, it … (0 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – April 13th, 2020 - 04/13/20 08:40 AM
Last week’s economic reports were limited due to closures connected with coronavirus regulations. The Federal Reserve did not issue minutes for the most recent Federal Open Market Committee meeting as the meeting was canceled.
Inflation readings were released; weekly readings on mortgage rates and new jobless claims were released along with the University of Michigan’s Consumer Sentiment Index.
Consumer Price Index Falls In March
The Consumer Price Index dropped by -0.40 percent in March; this was its biggest decline in five years. Lower inflation was largely due to falling fuel prices.
The Core Consumer Price Index, which excludes volatile food and energy sectors, fell by  … (0 comments)

mortgages: Case-Shiller: Jan Home Price Growth Strong; Pandemic Impact Unknown - 04/02/20 09:35 AM
United States home prices increased by 3.90 percent year-over-year in January as compared to December’s growth rate of 3.70 percent according to Case-Shiller’s National Home Price Index. Home prices also rose in Case-Shiller’s 20-City Home Price Index.
20-City Home Price Index: Phoenix Arizona Leads in Home Price Growth
The Case-Shiller 20-City Home Price Index is followed closely by real estate pros and its trends are used to gauge home price growth within cities included in the index. Phoenix, Arizona led home price growth rates for the eighth consecutive month with a year-over-year growth rate of 6.90 percent.
Seattle, Washington followed with year-over-year home price … (1 comments)

mortgages: What’s Ahead For Mortgage Rates This Week – March 30th, 2020 - 03/30/20 08:15 AM
Scheduled monthly readings were released for new home sales and consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released.
New Home Sales Beat Expectations in February
Sales of new homes dropped 4.40 percent in February after reaching a 13-year high in January. 765,000 new homes were sold on a seasonally-adjusted annual basis, which exceeded expectations of 750,000 sales in February. New home sales were 14.30 percent higher year-over-year.
Analysts said that further declines monthly new home sales are expected as the coronavirus spreads.
The national median price for a new home was $345,900 and there was a five-month inventory of … (0 comments)

mortgages: More Than 25% Of Millennial Homebuyers May Be Financially Unprepared - 03/19/20 03:48 PM
Millennials are the first generation in America that will probably not be able to do as well as their parents. In the United States, there is not as much upward mobility as there was in the past. What is the cause of this?
CNN reports that Millennials have more college degrees than their parents. They also have an enormous amount of student loan debt. Many millennials have lower-paying jobs than their parents had at the same age when adjusted for inflation. Spending patterns changed as well, due to the high cost of living.
Finding The Money
Saving is not easy. The net worth of … (0 comments)

mortgages: How to Buy An Investment Property - 03/18/20 12:08 PM
It is important for everyone to take steps to diversify their assets. While many people take this to mean holding multiple stocks, bonds, and mutual funds in the market, this also includes branching out into the real estate industry. The real estate industry is far more stable than the stock market and provides a fantastic opportunity to generate reliable returns. At the same time, there are lots of options to choose from when it comes to investment properties.
Here are a few tips everyone should keep in mind.
Buying And Renting
One option is to purchase a single-family home as a second building and … (0 comments)

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

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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