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As the inventory of new and existing homes for sale tightens, you can find yourself looking at too many properties within your price range that do not meet your criteria or fighting the urge to step up into a higher price range in hopes of finding the perfect home. Meanwhile, you may have noticed that there are homes languishing on the MLS that seem well priced but are in serious need of updating. Read More
“Location, location, location” has been a phrase that’s been in use since at least 1926, according to The New York Times, but its relevance to homebuyers may be even more important in 2018. That’s because with shrinking inventory and steadily rising housing prices, many homebuyers are finding it harder to move into their “dream” home that fits their budget. Read More
Debt is one of those things that can be both hard to live with and hard to live without. Many of us choose the former. Read More
Ready to get serious about homeownership? Then it’s probably time to start saving for a down payment. While down payments can seem like a challenge, they are really like any other goal you set for yourself, doable. Read More
With 20–25 percent of the U. S. Read More

Check out the infographic to learn all about home improvement.

All About Home Improvement- Infographic

 

 

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As you step into your new married life together, if you haven’t already, it’s time to start thinking like the life partners you’ve just become. Among the first things you’ll want to consider and talk about are your plans and how you will afford them. Read More

Check out our list to make sure you avoid the top 10 don'ts during the process of buying or refinancing!

 

 

top 10 don'ts during the loan process

 

 

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Do you know what a buy-down is? Or what CLTV stands for? Here's some key phrases and acronyms to help you speak mortgage with confidence!       AMORTIZATION: Loan payment divided into equal periodic payments calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance APPRAISED VALUE: An opinion of a property’s fair market value, based on an appraiser’s knowledge, experience, and analysis of the property APR: The annual percentage rate is the interest rate on the loan combined with other fees ARM: An Adjustable Rate Mortgage is one where the interest rate can change ASSUMABILITY: An assumable mortgage can be transferred from the seller to the new buyer BAH: Basic Allowance for Housing is given to military members to provide housing for them and their family members BASIS POINT: One 100th of 1% BUY-DOWN: When the lender subsidizes the mortgage to lower the interest rate during the first few years of the loan CD: Closing Disclosures are documents a lender is required to give the borrower three days before closing COE: The Certificate of Eligibility declares that a borrower is eligible to participate in the VA loan program CLTV: Combined Loan to Value ratio is used when a property has multiple mortgages COLLATERAL: Property pledged as security for a debt CONFORMING LOAN: A loan that is eligible for purchase by FNMA or FHLMC CONVENTIONAL LOAN: A mortgage not insured by FHA or guaranteed by VA CRV: A Certificate of Reasonable Value sets the max loan amount on a VA loan and is issued by the Department of Veteran Affairs DEBT TO INCOME RATIO (DTI): One of several criteria used to qualify a loan, takes into consideration all current indebtedness.   Expressed as a percentage and calculated by dividing a borrower’s monthly liabilities by monthly gross income EARNEST MONEY: Money given by a buyer to a seller as part of the purchase price to bind a transaction or assure payment Fannie Mae (FNMA) & Freddie Mac (FHLMC): Federal National Mortgage Association & Federal Home Loan Mortgage Corporation, respectively, are 2 government sponsored enterprises created by Congress to make mortgages available to a wide group of people FHA: the Federal Housing Administration is a federal agency that oversees the housing market. Read More

Choosing a mortgage program often comes to a choice between these two mortgage types: FHA or Conventional? Our infographic will help you understand key elements of each!

 

 

FHA vs Conventional

 


 

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