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Self-employed and looking for a mortgage? A Non-Qualified Mortgage (Non-QM) loan is an option to consider. A Non-QM loan lets the borrower provide alternative proof of income for lenders to consider in lieu of tax returns, W-2s or pay stubs alone. Read More
Are you a military veteran looking to buy a home? With congressional bill, H. R. Read More
If you’re considering getting a new home loan, getting pre-approved should be the first step in your homebuying process. With a mortgage pre-approval, your lender will look at your income, any debt that you may have and check your credit score. Read More
With all sorts of trends, signs, and predictions for what 2020 may hold for the housing market, one thing is for sure: there is no way to absolutely know what’s ahead. Today’s headlines offer a glimpse of what factors might impact the housing market this year. Read More
Due to their extensive size, millennials have turned out to be disrupters in many industries, and real estate is no exception. As millennials reach peak homebuying age, Real Estate Agents have started to pay attention to the way millennials prefer to move through the process. Read More
From the buyer and the seller to the Real Estate Agent and the Loan Officer, closing on a home has different implications for different individuals. However, there are some basic facts about what’s involved during this critical final stage of the homebuying process. Read More

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Cheaper Construction Loans Mean More Custom Homes

Posted To: MND NewsWire

Builders are finding that acquisition, development, and construction (ADC) loans in the last half of 2019 were both easier to access and less costly. That may be, in part, behind a fourth quarter 2019 surge in custom home building. The National Association of Home Builders' (NAHB's) quarterly survey of its builder and developer members found that the average interest rate on ADC loans declined in Q4 from 6.39 to 6.13 percent on loans for land acquisition and from 6.31 to 5.94 percent on development loans. Loans for single family spec construction declined 36 basis points to 5.63 percent and from 5.63 percent to 5.38 percent for pre-sold homes. It was the second consecutive quarter in which rates for all four loan categories declined. NAHB notes that, because ADC loans are typically short term...(read more)

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MBS Week Ahead: High Gear nCov Fear Pushing Rates Toward All-Time Lows

Posted To: MBS Commentary

Coronavirus (or nCov for short) made more disconcerting headlines over the weekend and has generally proven itself to be far more capable in that regard than its long lost cousin, SARS. When the nCov market narrative first emerged in mid-January, the comparison to SARS was still unknown. Now that the virus is unequivocally spreading faster, farther, and killing more people, markets are free to express more panic. But why panic? It's not as if nCov will kill more people than the flu does each year, right? So what's the big deal? In short, the big deal is that everyone is used to dealing with the flu. There are well-established figured on how many people will probably get it and how many of those will die. There's also a vaccine that is occasionally effective and that may at least...(read more)

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