By: Frugal World Home Loans Views: 3214 | Comments: 0 | Votes: 0
Relative to the growth in home prices over the last few decades, Americans are earning less and therefore they are saving less. PMI is a financial guaranty that protects the lender against any loss in the event the borrower should default as well as allowing the borrower to make a lower down payment. Such mortgages are increasingly in demand in today's home market. More
By: Inman News Home Loans Views: 2062 | Comments: 0 | Votes: 0
NeighborWorks campaign generates $5.39 billion in new loansInman NewsA national campaign that seeks to bring home ownership within reach for low-income and moderate-income families has generated more than $5.39 billion in new mortgage lending from Jan. About 22 percent of the campaign's recent home buyers are African-American. 137. Reprinted with permission of Inman News More
By: Trmnotary Home Loans Views: 2065 | Comments: 1 | Votes: 0
What exactly is a "Rent-Back" offer, and when should they be used? In most real estate transactions, the buyer takes possession of the property at or shortly after closing. A rent-back is an offer made by the prospective buyer to allow the seller to remain in possession of the home for a longer period of time. More
By: WiseSaver Home Loans Views: 2230 | Comments: 0 | Votes: 0
Throughout the years, mortgage rates have varied by loan-to-value and by term only. Items such as mortgages and variation in credit risks were not taken into consideration. A variation in interest rates was typically due to an additional charge for mortgage insurance (PMI) for home loans with loan-to-values greater than 80 percent, or higher rates due to the length of amortization. More
By: Kenneth R. Harney Home Loans Views: 3768 | Comments: 0 | Votes: 0
Remember when you refinanced your home mortgage to get a lower interest rate and pay less every month?How quaint. And how utterly out of date. The 88 percent cash-out refinancing rate was close to the all-time record and could surpass it later this year.Meanwhile, the typical refinancer hasn't been scouring the market for an interest rate lower than that on his existing first mortgage. More
By: Kenneth R. Harney Home Loans Views: 3119 | Comments: 0 | Votes: 0
Home buyers and refinancers face higher fees for credit reports this year – a price boost that has mortgage, credit industry and consumer group leaders fuming. Some believe that the higher fees will have an inordinately heavy impact on moderate-income and minority first-time mortgage applicants who have nontraditional credit patterns, marginal credit scores or “thin” credit files. More
By: Academix Real Estate Views: 2153 | Comments: 0 | Votes: 0
For your convenience I have collected some basic information that can be helpful if you are thinking of buying your first home:• First and the most important is that you get pre-qualified for a loan. • Find out if you qualify for the first-time home buyer’s incentives. The U.S. You can fix a house, but not a neighborhood. More
By: Art Of Saving Estate Planning Views: 3230 | Comments: 0 | Votes: 0
You've done your shopping, found a beautiful, functional home close to everything you need, and your offer has just been accepted. Before you close the deal, here are a few things to consider.Unlike renting in which you pay in advance for the upcoming month, a mortgage is paid "in arrears". Say, for example, you close a sale on June 29th. More
By: Art Of Saving Real Estate Views: 2182 | Comments: 0 | Votes: 0
When selling your home today and in this market it is critical to price your home properly for a successful sale. Gone are the days when you could list your home at the top of the market, selling your home above what you listed at with multiple offers. When pricing your home for sale, this is not the time to "test" the market. It gives you something concrete to show your buyer. More
By: Frugal World Real Estate Views: 3118 | Comments: 0 | Votes: 0
Why is the 1031 Tax Deferred Exchange important to a Real Estate Property Investor?An investor in real estate understands how important it is to preserve wealth and assets. In the frequently changing world of taxation, the investor is fortunate to have IRC Section 1031. This tax code allows the investor to exchange from one investment property to another and defer taxes on the gain. More
