When you hear the term "Reverse Mortgage" what is the first thing that pops into your mind? Possible relief? Apprehension? Indifference? Reverse Mortgages mean different things to different people. If you are over 62 years old, living on a fixed income and unable to meet your … [Read more...] about Reverse Mortgages, the Good, the Bad and the Ugly
Mortgages
Millennials Flock to Low Down Payment Loan Programs
A report released by Down Payment Resource shows that 65% of first-time home buyers purchased their homes with a down payment of 6% or less. The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings … [Read more...] about Millennials Flock to Low Down Payment Loan Programs
Do You Know the Real Cost of Renting vs. Buying?
Rent or buy. What is best for you? Some Highlights: Historically, the choice between renting or buying a home has been a close decision. Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a … [Read more...] about Do You Know the Real Cost of Renting vs. Buying?
A Foreclosure, Short Sale or Bankruptcy in your Past May No Longer Slow up your New Home Purchase
There are new federal housing guidelines to help prior homeowners with a short sale, foreclosure or bankruptcy on their record to re-enter the housing market. The old guidelines made a new home buyer wait a minimum of three years before buying a new home. Now, with credit … [Read more...] about A Foreclosure, Short Sale or Bankruptcy in your Past May No Longer Slow up your New Home Purchase
How Will the Government Shutdown Affect Mortgages?
What does the government shutdown mean to you if you are applying for a home loan? For now, essentially nothing! If you're thinking of applying for an FHA loan, you can still move forward as planned. Several media outlets mistakenly reported that there would be a shutdown of … [Read more...] about How Will the Government Shutdown Affect Mortgages?
If You Are Self-Employed Do You Stand a Chance of Getting a Mortgage?
The guidelines for obtaining a mortgage these days favor those who get a regular paycheck. Even if you have almost no money for a down payment, the lenders are happy to lend, if you are what they consider "employed". Doesn't matter that you may be laid off and not be able to find … [Read more...] about If You Are Self-Employed Do You Stand a Chance of Getting a Mortgage?
