gerhardson team: What are some of your options when looking for a mortgage?
- 04/08/15 12:19 AM
What's really your best choice when it comes to financing a home? When you begin your search for a new home loan, one of the first things to consider is where you'll get the money. Your basic choices will be mortgage brokers and banks. In order to understand the differences, let's look at how the lending process works in each case. Banks are given rates by their institutions, telling them what interest rates they can quote to their clients on any given day. There's only so much they can do with regard to interest rates, because it needs to remain profitable … (0 comments)
gerhardson team: 3 Top Tips To Selecting The Right Home For Your Family
- 04/03/15 12:03 AM
3 Top Tips To Selecting The Right Home For Your Family Whether you are moving to a new house with children or you are buying your first Isanti home with the intention of raising future little ones there, many factors will come into play when making your decision. You will want to find a house with the right size and layout, that has a suitable number of bedrooms and bathrooms, is in an excellent neighborhood and has all of the local amenities your family will need. Here are three important factors to consider during your new home search: Location Take … (0 comments)
gerhardson team: What To Do When Your Home Doesn’t Appraise At Its Purchase Price
- 04/01/15 12:05 AM
What To Do When Your Home Doesn’t Appraise At Its Purchase Price Experienced home sellers in Isanti know that reaching a sales agreement with a potential buyer can be just the start of the negotiation process. There are often inspection issues to resolve, among other items. One particular negotiation point which can present difficulties for both buyers and sellers is when a home’s appraised value falls short of its contracted sales price. Sometimes, this happens because the home’s price was inflated. Other times, it’s the result of a faulty appraisal. As a home seller, there are some common appraisal problems … (0 comments)
gerhardson team: What’s Ahead For Mortgage Rates This Week – March 30, 2015
- 03/29/15 11:16 PM
What’s Ahead For Mortgage Rates This Week – March 30, 2015 Last week’s economic reports included reports on new and existing home sales and FHFA’s monthly home price index for properties associated with Fannie Mae and Freddie Mac mortgages. The details: New Home Sales Surge, Existing Home Sales Drop According to the Department of Commerce, new home sales rose in January to a seasonally-adjusted annual rate of 539,000 which exceeded the expected rate of 455,000 sales and the revised figure of 500,000 sales of new homes in December 2014. This was a 7.80 percent increase over December’s figure and was … (0 comments)
gerhardson team: Spring DIY Projects: How to Build a Treehouse That the Kids Will Love
- 03/26/15 11:26 PM
Spring DIY Projects: How to Build a Treehouse That the Kids Will Love If you have children, no home is complete without a treehouse. Besides the fact that treehouses provide kids with hours of entertainment, they can also confer ancillary benefits that are hard to quantify. For starters, treehouses can improve property values by boosting curb appeal. When building any type of treehouse, keep the following tips in mind. Location, Location, Location Before you head off to Home Depot and get all the necessary supplies, you need to spend some serious time storyboarding the build process. Pick a tree with … (0 comments)
gerhardson team: 3 Reasons Why Your Mortgage Lender Might Ask for Your Tax Returns – And Why You Should Provide Them
- 03/25/15 11:29 PM
3 Reasons Why Your Mortgage Lender Might Ask for Your Tax Returns – And Why You Should Provide Them After you have completed the initial loan application and have signed the preliminary loan disclosures, your mortgage loan application will generally receive a preliminary prequalification. This prequalification will be based in large part on your ability to provide documentation to support your statements on your loan application, including your stated income and assets. Typically, a lender will include a request for least the last two to three years of your income tax returns with this documentation. There are several reasons why … (0 comments)
gerhardson team: FHFA: Home Prices Rise 0.30 Percent in January
- 03/24/15 11:17 PM
FHFA: Home Prices Rise 0.30 Percent in January The Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014. FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac. Month- to- Month FHFA Home Prices Mixed Month to month home price data was mixed for January. Home prices ranged from -0.40 percent in the Middle and South Atlantic … (0 comments)
gerhardson team: Considering a Reverse Mortgage Loan? Here’s What You Need to Know
- 03/23/15 11:18 PM
Considering a Reverse Mortgage Loan? Here’s What You Need to Know Many seniors are looking for a great way to improve their financial situation. Retirement or semi-retirement can be difficult due to the need to live on a fixed income. Some may have been unable to save enough in their working years, or their accounts may have been hit hard by stock market fluctuations. Still others are feeling the effects of inflation and the rising costs of medical care and general living expenses. If you are like many other seniors, you may not have a huge cash reserve available in … (1 comments)
gerhardson team: What’s Ahead For Mortgage Rates This Week – March 23, 2015
- 03/22/15 11:27 PM
What’s Ahead For Mortgage Rates This Week – March 23, 2015 Last week’s events included the National Association of Home Builder’s Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellen’s press conference. Home Builder Confidence Falls, Building Permits Rise The NAHB Wells Fargo Housing Market Index fell by two points for a reading of 53 in March. The expected reading was 57. Analysts said that this proves that lower mortgage rates and steady job growth aren’t fueling housing … (0 comments)
gerhardson team: Three Unique Upgrades That Will Drive Your Home’s Resale Price Through the Roof
- 03/19/15 11:45 PM
Three Unique Upgrades That Will Drive Your Home’s Resale Price Through the Roof If you are a homeowner, you should always be thinking about ways that you can boost the resale value of your home. Whether you are planning on putting the home on the market, or simply want to be prepared for the future, there are upgrades that can make your property more desirable. Give your home the attention it deserves and you’ll be prepared for whatever may come down the line. Go Solar With A Home Solar Installation There’s no doubt that solar power is big in today’s … (2 comments)
gerhardson team: FOMC Statement: Federal Reserve Discusses Rate Increase, But Concerned About Growth
- 03/18/15 11:32 PM
FOMC Statement: Federal Reserve Discusses Rate Increase, But Concerned About Growth The post-meeting statement of the Federal Reserve’s Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent. 15 of 17 FOMC members said that they expected interest rates to increase before year-end, but downwardly … (0 comments)
gerhardson team: Variable-rate vs. Fixed-rate Mortgages – Which is Better for Your Financial Situation?
- 03/18/15 02:22 AM
Variable-rate vs. Fixed-rate Mortgages – Which is Better for Your Financial Situation? When applying for a new home mortgage, many loan applicants initially consider applying for a 30-year fixed rate mortgage. This is perhaps the most common and traditional type of mortgage available. It allows you to enjoy the opportunity to pay for your home over the course of 30 years with equal payments every month. While this is one option, there are actually multiple choices available. For some applications, a variable rate mortgage may be more advantageous. If you are comparing the options between a fixed rate and a … (0 comments)
gerhardson team: Understanding the Key Factors That Affect Your Mortgage Interest Rate
- 03/16/15 11:36 PM
Understanding the Key Factors That Affect Your Mortgage Interest Rate When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. These may be rates that seem too good to be true, and you may gladly contact the lender or mortgage company to complete your loan application. However, the unfortunate truth is that all too often, mortgage applicants are unpleasantly surprised and even disheartened to learn that they do not qualify for the advertised interest rate. By learning more about the factors that influence your interest rate, you may be able to … (0 comments)
gerhardson team: What’s Ahead For Mortgage Rates This Week – March 16, 2015
- 03/16/15 04:23 AM
What’s Ahead For Mortgage Rates This Week – March 16, 2015 Last week’s economic reports included job openings, retail sales, retail sales except automotive, consumer sentiment for March and the usual reports on weekly jobless claims and mortgage rates. Job Openings Highest in 14 Years The Labor Department reported that job openings reached their highest level in 14 years in January, and rose by 2.50 percent over December 2014 job openings. On a seasonally adjusted basis, there were five million job openings in January. Job openings rose by 28 percent year-over-year. Hiring rose by 3.50 percent to 5.24 million, but … (0 comments)
gerhardson team: Have You Outgrown Your Current Home? Here Are Five Easy Ways to Tell if It’s Time to Upgrade
- 03/12/15 11:45 PM
Have You Outgrown Your Current Home? Here Are Five Easy Ways to Tell if It’s Time to Upgrade Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing those larger homes. Is it time to pull up stakes and move on from your starter home? Growing Family If you’ve added to your family in recent years, you may have more bodies than bedrooms. A two-bedroom home may have been a great idea when it was just you and your spouse, … (0 comments)
gerhardson team: The Mortgage Pre-approval Letter: Why It’s Important and How to Get One
- 03/12/15 12:02 AM
The Mortgage Pre-approval Letter: Why It’s Important and How to Get One If you are thinking about buying a new home in the near future, you may already be searching online to get a feel for the different types of homes available in the local area. You may have reviewed your budget, and you may have a fair idea about a sales price that is comfortable for you to afford. While you may feel as though you have taken the preliminary steps necessary to prepare yourself to buy a home, it is important that you also get a mortgage pre-approval … (0 comments)
gerhardson team: Taking an Extended Vacation? Renting Your Home to Long-Term Tenants is a Great Option
- 03/10/15 11:34 PM
Taking an Extended Vacation? Renting Your Home to Long-Term Tenants is a Great Option Taking an extended vacation can seem like a dream come true. You may have plans to spend your summer in Europe, your winter in the Caribbean or even a full year or longer exploring a different region. If you have the luxury of taking an extended vacation, you may have your sights set on adventure and relaxation. However, you also need to consider the practicality of leaving behind your home and belongings for an extended period of time. A great idea is to take on a … (0 comments)
gerhardson team: Missed a Mortgage Payment? How to Ensure It Doesn’t Affect Your Credit Score
- 03/09/15 11:42 PM
Missed a Mortgage Payment? How to Ensure It Doesn’t Affect Your Credit Score If you pay attention to your credit rating, you may be well aware that a single late payment reflected on your credit report can result in a decline in your scores. In some cases, the decline can be rather significant, and you will have to work hard to make regular payments over a period of time to show that you remain creditworthy and to rebuild your credit score. It is far better to avoid late payments altogether than to deal with the stress and ramifications of a … (1 comments)
gerhardson team: What’s Ahead For Mortgage Rates This Week – March 9, 2015
- 03/09/15 06:58 AM
What’s Ahead For Mortgage Rates This Week – March 9, 2015 Last week’s economic news was light on housing related reports, but several employment reports were released along with the national unemployment rate, which dipped to 5.50 percent. This was a full point below the Federal Reserve’s original target rate of 6.50 percent. Construction spending was incrementally lower than expected and mortgage rates also fell. Fewer Private-Sector Jobs, Non-Farm Payrolls Increase The ADP employment report for February fell from January’s reading of 250,000 jobs to 212,000 private-sector jobs. January’s reading was upwardly revised from the original tally of 213,000 jobs … (1 comments)
gerhardson team: Buying for the First Time? The Ultimate Guide to Surviving the Mortgage Process
- 03/04/15 10:30 PM
Buying for the First Time? The Ultimate Guide to Surviving the Mortgage Process If you have heard nightmarish stories from friends and family members about the home mortgage application process, you are not alone. In fact, some of these stories may have even been a reason why you have held out on moving forward with your plans to purchase your first-home. While some have indeed had unpleasant experiences, the fact is that there is nothing to be intimidated about. When you follow a few easy tips, you can streamline the process and navigate through it with minimal effort or stress. … (1 comments)
What's really your best choice when it comes to financing a home? When you begin your search for a new home loan, one of the first things to consider is where you'll get the money. Your basic choices will be mortgage brokers and banks.
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