So you’re in a bidding war, and you know your offer needs to stand out. For homebuyers who have the cash, making an all-cash offer can get you across the finish line and into your dream home fast. Making an all-cash offer removes the financing contingency and puts you in a competitive position. When sellers […]
For many homeowners, saving money for a large down payment can take years. Add to that rising house prices and discouragement can set in, especially if house prices are rising faster than you can save. But you don’t need to put 20% down on a new home to get a good mortgage. In fact, putting […]
Mortgage rates are still low and a lot of homeowners are thinking about expanding their portfolio. If you have a good chunk of home equity right now, it’s a good time to think about investing in a second property. I’ve been fielding questions from clients recently: Is now a good time to purchase an investment […]
Last week on July 16, 2021, the FHFA formally announced plans to eliminate the 0.5% adverse market refinance fee, sending lenders into a competitive race to drop rates for qualified borrowers ahead of schedule. According to the FHFA press release, “Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries […]
When you’re ready to buy a home, you can lower your interest rate by buying mortgage points. If getting the lowest interest rate is your primary goal, then choosing to buy mortgage points or “discount” points can make a lot of sense. But paying mortgage points at closing isn’t always the best financial decision when […]
Mortgage rates are starting to fluctuate, and there are a lot of predictions floating around about rising mortgage rates. But the pandemic has taught us that nothing is for sure. Trends that used to be predictable are in question. So how can we know whether or not mortgage rates are going to rise or stay […]
For a lot of people, this has been the year of transition. Work from home, back to the office, zoom school, back to campus, hybrid everything, and each month there’s a new set of rules. The big question I’ve heard a lot—is buying a home still a smart move? Is now a bad time to […]
When you’re getting ready to refinance your mortgage, one factor that impacts the terms of your new loan is the appraisal. A current home appraisal creates the basis of your home’s value in today’s housing market. But not every mortgage refinance requires a home appraisal. This can relieve a lot of stress for homeowners who […]
Many homeowners have been asking, what can I do if I can’t pay my mortgage? The Fannie Mae HIRO loan program could help. Many American homeowners have suffered reduced income or loss of employment during this past year due to the coronavirus pandemic. Forbearance and loan modification programs can help, but many covid-related housing relief programs […]
The FHA Streamline Refinance is one of the fastest and easiest ways to lower your monthly mortgage payment and save you money. This type of home loan refinance is only available to homeowners who currently have an FHA home loan, so it’s worth finding out if you qualify. For homeowners who have an existing FHA […]
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