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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?

Looking Back: DC Q3 Real Estate

DC Q3 Real Estate | September data is in, so let’s look back at the third quarter real estate market in several DC neighborhoods. The fall DC market started well with the highest September sales activity since 2006. Median sales prices are up and inventory is increasing (while inventory growth is slowing). Probably the most… Continue reading Looking Back: DC Q3 Real Estate

Looking Back: Maryland Q3 Real Estate

Maryland Q3 Real Estate | September data is in, so let’s look back at the third quarter real estate market in several Maryland neighborhoods. Units sold are “up” in all of the neighborhoods I studied (Bethesda, Chevy Chase, Kensington, Rockville, Silver Spring), except Takoma Park where they fell by 3.57%. The average sold price increased… Continue reading Looking Back: Maryland Q3 Real Estate

Looking Back at the Summer: Supply and Demand in DC

Supply and Demand in Washington DC (city, not region) – Our fall real estate market began at Labor Day. Looking back at the last six months, you can see that supply (the blue bar) has stayed under 2 months. What does this mean? If no new listings came on the market, this is how long it… Continue reading Looking Back at the Summer: Supply and Demand in DC

What is TRID and how does it affect you?

TILA-RESPA Integrated Disclosure | The US Consumer Financial Protection Bureau (CFPB) ordered an integration of the disclosures and regulations required by the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). This is called TILA-RESPA Integrated Disclosure or TRID. Using the previous disclosures and adding the new requirements from the Dodd-Frank… Continue reading What is TRID and how does it affect you?

What is a short sale and how does it affect me?

Short Sale When you are searching for your new home, you will most likely come across some listings that are potential short sales. What does this mean and how will it affect you?   A short sale occurs when the owners owe more money on the house than what they can sell it for. They… Continue reading What is a short sale and how does it affect me?

Understanding Jumbo Mortgages

Understanding Jumbo Mortgages | If you are in the market for a home priced over $765,000 and you also want to get a mortgage, understanding jumbo mortgages is key! What is a jumbo mortgage? Jumbo mortgage loans are large mortgages, specifically larger than conforming loan limits. In Montgomery County, the 2020 conforming loan limit is… Continue reading Understanding Jumbo Mortgages

Want to Buy a House? Top 3 Things You Should Be Doing

In my last blog post, I wrote about 3 things you shouldn’t do if you want to buy a house. Today, I am telling you 3 things you should do! 1. Talk to a lender and get pre-approved for a mortgage. Whether or not you are a first-time homebuyer, you should talk to a lender… Continue reading Want to Buy a House? Top 3 Things You Should Be Doing