Posts Tagged with ‘Real Estate News’
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2012: Buying a Home Won’t Get Any Cheaper
09 May 2012Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.
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30-year Mortgage Drops to Near Record Low
26 Apr 2012Extending a long stay near record lows, fixed mortgage rates edged lower this week, with lenders offering the typical 30-year loan to solid borrowers at 3.88%, down from 3.9% last week, according to giant loan buyer Freddie Mac. This week’s average for the 15-year fixed loan was 3.12%, down from 3.13% a week earlier. Adjustable loans were mixed. The start rate fell on mortgages that adjust once a year but rose on loans that become adjustable after five years at a fixed rate. – LA Times
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Wonderful World of Loans for New Buyers
29 Feb 2012My name is Bill Clifford, I am a loan officer with Open Mortgage. I’m the first to admit that the loan process is not nearly as much fun as the rest of the home buying experience. It requires that you divulge personal information about your credit, income, savings and job, in addition to providing all of the documentation to support your application. The good news is that this process can be easy and painless if you know what to expect. There are two questions that are key when considering the purchase of a new home: How much can you afford to pay each month? How much money do you for the down payment and closing of the sale? Four Most Important Loan Factors Credit: There are many loan programs out there and some, though rare, will accept scores as low as 530 if all of the other stars align. Scores of 740 and up will give you the best possible terms. Be ready to explain any “issues” (i.e. bankruptcy, collections) that show up on your credit. These can stand in the way of an approval regardless of your score. Accounts “in dispute” will need to be resolved before the purchase…
