Last week the Mortgage Bankers Association’s national survey registered a record 37 percent jump in applications for new conventional loans to buy houses, and a 39 percent increase for home purchases using FHA mortgages. This was spurred by a ½ point drop in 30 year fixed mortgage rates to 5.47%, down from 6% the […]
Filed under: Mortgage | No Comments »
Washington has been a buzz the past week regarding the Treasury Department actually listening to the housing and real estate industries calling for wide scale rate reductions for those purchasing homes in 2009. These proposals are being pushed by the National Association of Home Builders and the National Association of Realtors.
In one scenario, a […]
Filed under: Denver Real Estate News, Mortgage | No Comments »
HUD published final regulations last week mandating uniform disclosures for all new home mortgages, including tougher rules regarding Good Faith Estimates from lenders that accurately reflect the line items on consumers’ settlement sheets at the end of a home purchase or refinancing.
These new RESPA disclosure forms won’t be required for another year as that gives […]
Filed under: Denver Real Estate News, Mortgage | No Comments »
If you’re planning to buy investment property and financing it through a lender who sells to Fannie Mae, keep the date December First in mind. Nail down your mortgage commitments quickly — in the next six weeks if you can.
This is because a traditional source of financing, Fannie Mae, will add more fees for investment […]
Filed under: Buying Real Estate Tips, Mortgage | No Comments »
The following is one possible timeline when considering buying a home-especially a first home:
A year out (or as soon as possible)
Get your credit reports. Errors on your reports can put you in a position to have to pay higher interest or not be able to get a loan at all. You can get free copies […]
Filed under: Real Estate 101, Real Estate Advice, Buying Real Estate Tips, Mortgage | No Comments »
Simply put, the answer is no. There is one word in the above sentence that society as a whole has forgotten about in the last few years, qualify. You do not have to have perfect credit, you do not have to make $100,000 per year, you don’t even have to put 20% down, but you […]
Filed under: Uncategorized, Mortgage | No Comments »