mortgage: 2016 is the year to purchase a new home
- 01/12/16 07:48 AM
There are a couple of factors that are contributing to why 2016 is the time to make a new home purchase. Capitalizing on some key positive trends in the housing market can really help buyers with their new purchase. Industry experts from Zillow, Realtor.com, and other home search sites agree that 2016 will be the best time to purchase. Here are some top reasons why you should purchase a new home in 2016. Home prices are stabilizing. Homes prices have been increasing over the last several years. In general homes prices have leveled out and the growth is not expected to (1 comments)
mortgage: Mortgage Market Watch Oct.
- 10/26/15 04:13 AM
The Economy: Unemployment claims were up slightly but still remain low. The strong labor market could persuade Feds to increase the policy rates this year. Housing News: Home renovations are up from last year. The best year for home renovations was 2005 and the market is up 2.8% from that year. Renovating is popular right now because of lower inventory. Academy Mortgage Mesa has a couple of different options on home improvement loans. Building permits dropped slightly but new housing starts were up 6.5% in September. The increase in new home construction will help alleviate the lower inventory. Builders are at a higher confidence level about the current (0 comments)
mortgage: Builders looking to move inventory
- 10/09/15 08:29 AM
As the year ends numerous builders in the Phoenix Metro Area are looking to move their inventory. Even though there is still enough resale inventory and home prices are reasonable, deals on new builds can be found. Builders like other companies want to meet end of the year sales goals and are willing to offer substantial discounts or upgrades. Do not expect to get "close out" discounts but do ask about any special incentives. Builders with a larger move in ready inventory might have unique upgrades and features that apply to a lower number of people. For example adding in swimming pools, keeping the (3 comments)
mortgage: What Are The Differences Between FHA And Conventional Loans?
- 10/05/15 02:05 AM
Not sure what a FHA loan can do for you? Hoping to figure out what option is right for your situation? There are several differences between FHA and conventional loans, not the least of which is that the Federal Housing Administration insures their loans if they meet certain criteria and are offered through particular lenders. Conventional loans are not backed by federal agencies, and can be obtained through most lenders, including various banks and mortgage companies. Here are some of the other ways in which FHA and conventional loans differ, and how they may affect your decision-making process. Down Payment Conventional loans typically require you to (1 comments)
mortgage: Appraisals: How Can They Be So Different?
- 09/24/15 03:20 AM
Appraisals can be kind of confusing. Even if you remain in the exact same home, your original appraisal could look very different than if you were to have it appraised today. What is an appraisal? It's an in-depth report that shows the exact value of a property based on a number of different factors. Your living space, your view, the year the property was built, and other elements are taken in to consideration in your valuation. Appraisals are required when you're planning to refinance your mortgage, or when you're looking to buy a new home. An appraiser will assess what the fair market (3 comments)
mortgage: Mortgage Market Watch
- 09/11/15 06:47 AM
Here is a quick update on what is happened over the last week in the housing and financial market. Please let me know if you have any questions. The labor market improved as fewer Americans filed for weekly unemployment benefits. This adds to speculation that the Fed may raise the policy rates this month. Inflation pressure continues to be weak as import prices continued to drop. Global economies remained weak. Mortgage rates have remained stable while the markets wait for a Fed decision Housing News More respondents of Fannie Mae's Home Purchase Sentiment Index thing it is a good time to buy a new home. (0 comments)
mortgage: Home in 5
- 09/08/15 01:36 AM
There are a number of factors that can prevent you from achieving home ownership. We do not want a lack of down payment to prevent you from obtaining your dream home. There are down payment assistance programs available to residents of Arizona. The most popular program is Home in Five Advantage. This is a government grant that provides a non-repayable 4% down payment/closing costs. This increase to 5% if you are a qualified United States Military Personnel. Financing is available on new or existing homes, condominiums, townhouses or manufactured homes.
There are some minimum qualifications: Byers must have a minimum FICO of 640 and a maximum debt-to-income ration of 45% All buyers (0 comments)
mortgage: The Importance of a Pre-Qualification Letter
- 08/31/15 03:13 AM
Before you begin the process of finding a new home it is important to obtain a pre-qualification (PQ) letter. A large portion of new home buyers do not understand the importance of completing the PQ. Educating new clients on the importance of this step should be started by the referring Realtor. There are a number of reasons to obtain the pre-qualification letter upfront. Displays your commitment to Realtors and Home SellersGetting your financial position in order shows Realtors you are committed to purchasing a new home. It also communicates to your Realtor a general time line on when your looking to purchase. Having a PQ letter (0 comments)