2022 Real Estate Market Year In Review & 2023 Outlook

The year 2022 made history in the real estate market in several ways. Unprecedented numbers were seen in home prices, number of sales, and rise in mortgage rates. It’s early 2023, and we are in the midst of a significant market shift where home prices are declining month over month, and mortgage rates are still… Continue Reading

Home Equity Conversion Mortgages (HECM) Explained

A Home Equity Conversion Mortgage (HECM) is a type of reverse mortgage that allows people to access their home’s equity and take cash out for a variety of purposes. The HECM was created by Congress in 1992 and has been used by seniors since then to help them pay for expenses related to aging, such… Continue Reading

First-Time Home Buyer Loans Get A Discount

The Federal Housing Finance Agency (FHFA) introduced rate discounts for first-time home buyers using Fannie Mae- or Freddie Mac-backed conventional mortgages, a much-welcomed relief to housing costs in today’s housing market. Economic uncertainty always affects the housing market. And when the housing market is facing challenges, it hits first-time home buyers hard. The FHFA rate… Continue Reading

Qualifying for a Home Loan — What You Need to Know

If you are looking to get approved for a home loan, you may be vaguely familiar with what it takes to pass the underwriting process and get approved. Most people only get a home loan every few years at the most so it is understandable that the average person doesn’t know the fundamentals of getting… Continue Reading

2-1 Buydowns, the New Mortgage Craze

Well, it’s mid-November 2022, and the Real Estate market as well as the mortgage market, continue to spiral. Mortgage rates have been above 7% for over a month and well above 6% for several of the last 6 months. It’s a bit of a meltdown. But no worries, there is a savior in town! The… Continue Reading

Q3 Real Estate Market Update — Winter Is Coming (Part 2)

We continue to look at the housing market shift this week. Last week we covered the impact that rising rates, shrinking affordability, and increasing supply of homes are having on the market. We specifically covered some fundamentals that make certain geographic areas more vulnerable to a crash than others. Today, we will look at three… Continue Reading