We are continuing my series, “Understanding Financing,” with this video on the pre-approval process for a mortgage. What is a pre-approval and why should you get one? I interview Rich Godbout of Caliber Home Loans. Hannah: Hey everybody! I am here today with Rich Godbout of Caliber Home Loans. I have known Rich my entire real… Continue reading What is a Pre-Approval? And why should you do it?
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Author: wpadmin
Loan Products: An introduction to loan products for buying real estate
We are picking up our series “Understanding Financing” with today’s post, where we will look at the main loan products that most buyers use in the purchase of real estate. There are a lot of products on the market, various criteria to qualify for each, and different requirements from different lenders. My goal today is… Continue reading Loan Products: An introduction to loan products for buying real estate
Income and Assets & How they affect your ability to secure financing
Welcome back to my series, “Understanding Financing.” Let’s turn to income. Lenders will want to see your pay stubs, W2s, and tax returns for the last two years. Are you a W2 employee or self employed? If you are self employed, you will need to show two years of income. Lenders will then average them… Continue reading Income and Assets & How they affect your ability to secure financing
FHA Reduces Mortgage Insurance Premiums
Mortgage Insurance Premiums | The Federal Housing Administration (FHA) reduced mortgage insurance premiums by a quarter of a percentage point (from 0.85% to 0.6%) starting January 27. (0.25% for 30-year loans and 0.20% for 15-year loans.) HUD says that this should decrease borrowers costs by $500 a year on average (a $200,000 loan). While this… Continue reading FHA Reduces Mortgage Insurance Premiums
Interested in becoming a foster parent?
Doberman Assistance, Rescue & Education (DAR&E) Fan Page (who find homes for homeless Dobermans in Maryland, Washington D.C., Virginia and eastern West Virginia areas) are looking for foster parents. If you are able to help, visit their website for more information.
Credit & How it affects your ability to secure financing
Credit and Security Financing In my last post, I discussed real estate financing 101 – what is a mortgage? and how will lenders evaluate you (the 3 C’s – credit, collateral, capacity)? Today, we are going to be talking about credit and how it affects your ability to secure financing. I said we were going… Continue reading Credit & How it affects your ability to secure financing
Financing a Real Estate Purchase 101
Financing Real Estate Purchase | Welcome to my new series, “Understanding Financing.” This is the first blog in this series and I am going to be covering the basics of financing a real estate purchase. As the series continues, I will cover a variety of topics related to securing financing for your real estate purchases, including info… Continue reading Financing a Real Estate Purchase 101
The Fed Raised Rates, What Does This Mean for You?
The Federal Reserve raised the Federal funds rate by 0.25%. They did not raise mortgage rates. Mortgage rates did respond to this though with an increase. Today, the 30 yr fixed-rate mortgage rate is 4.16%. The Fed has said that they will continue to increase the Fed funds rate maybe two or three more times this… Continue reading The Fed Raised Rates, What Does This Mean for You?
Understanding Pricing a House: Where to Start
What keeps us happy and healthy as we go through life? If you think it’s fame and money, you’re not alone – but, according to psychiatrist Robert Waldinger, you’re mistaken. As the director of 75-year-old study on adult development, Waldinger has unprecedented access to data on true happiness and satisfaction. In this talk, he shares… Continue reading Understanding Pricing a House: Where to Start
Why Homes Don’t Sell (7 Reasons ): You are Not Flexible
Why Homes Don’t Sell “The Sartorialist” Scott Schuman is a photographer and one of the most famous fashion bloggers in the world. We accompanied him in a Porsche 911 Targa 4 GTS from Milan to Paris. Milan with the hustle and bustle on its streets. And in the middle of it all is Scott Schuman… Continue reading Why Homes Don’t Sell (7 Reasons ): You are Not Flexible