fha mortgages: Rising Rents - Music to Your Ears?
- 08/30/21 08:11 PM
Rising Rents - Music to Your Ears?9/1/2021 Rents going up may not be pleasant to hear for tenants, but it could be music to your ears if you are an investor. The recent CoreLogic Single-Family Rent Index, April 2021, showed a 5.3% increase in national rent year over year which doubled the increase experienced in April 2020. This is the largest annual rent price increase in nearly 15 years. Interestingly, detached rentals are experiencing an even higher growth rate of 7.9% year over year compared to the 2.2% annual rate for attached rentals. This is supported by the CoreLogic report that half of millennials … (4 comments)
fha mortgages: Writing a Successful Offer in a Low Inventory Market
- 05/09/21 06:16 PM
With at least 40% less homes on the market currently than there were a year ago, serious buyers have probably experienced the disappointment of losing a home they wanted to buy from increased competition. Today's buyers are looking for ways to improve their odds of being the best contract without having to use the purchase price as their only tool. Buyers should reconsider, rethink, and re-evaluate their "must have" features and amenities. It is probably unrealistic in a normal market to think you can have the perfect home at the price you want but in today's market … (0 comments)
fha mortgages: What Buyers Can Do While Staying at Home
- 03/31/20 06:53 PM
Published on 3/29/2020 & modified on 3/30/2020 While you're isolating at home, there are things you can do to help buy a home now or in the near future. Instead of spending time surfing the Internet looking at homes, do the groundwork necessary to be able to purchase the home that you find. There is a lot of documentation necessary to qualify for a mortgage and to be approved. This part of the homebuying process can be done in advance, long before you even start looking at homes much less finding the one that you want. Assemble all documents to make a pre-approval … (0 comments)
fha mortgages: Is it Time to Buy Again?
- 05/27/19 08:04 PM
Time to Buy Again5/29/2019 For people who have experienced a distressed sale of a home and gotten their finances and credit back in shape, there can still be an unanswered question of "How long do we have to wait to qualify for another mortgage." The loan types for the new loan will differ in amounts of time based on the event. The different lending authorities, VA, FHA, Fannie Mae (FNMA) and Freddie Mac (FHLMC), establish their own waiting periods. A borrower may be eligible to qualify for one type of mortgage before another type, even though during this waiting period, that the person was current … (0 comments)
fha mortgages: Leverage - A Maximum Advantage
- 03/10/16 05:52 AM
Leverage gives the user a maximum advantage whether it is physically lifting a large object or rapidly building equity in a home. In the case of the home, the high loan-to-value mortgage allows the profits made to be greater than simply the cash invested. A $250,000 home can be purchased on a FHA loan with a 3.5% down payment of $8,750. If the home appreciates at 2% a year, in seven years the equity will grow to $75,920 due to the appreciation and the amortization of the mortgage. That would be a remarkable 36.2% rate of return. It is estimated that homeowners have … (0 comments)
The housing market has been in a downward trend for four years. There is some speculation that inventories will not reduce any time soon which will be necessary for prices to rise.However, there are other factors that can increase the cost of housing, specifically mortgages. FHA accounts for a large percentage of the current housing loans and is expected to be even more prominent when the Qualified Residential Mortgage Guidelines go into effect this year. Rising rates are almost certain, due to looming inflation fueled … (0 comments)
Rising Rents - Music to Your Ears?9/1/2021 Rents going up may not be pleasant to hear for tenants, but it could be music to your ears if you are an investor.
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