Knowing if it’s Time to Rent or Buy

There’s a certain fantasy that penetrates the American psyche, we like to call it The American Dream. It varies slightly between regions, but basically, it involves the triad of homeownership, stable employment and a marriage with 2.3 kids. Maybe that white picket fence was ideal in 1950, but times have changed dramatically since the American… Continue Reading

Understanding the price of Closing Costs

Buying a house can be a confusing hurricane of paperwork, with lots of indecipherable legal documents and technical terms being tossed around. By the time you get to closing, you’re holding on by your fingernails, and just thankful that it’s almost over. You’re exhausted, emotionally and physically, but there’s just a little bit more to… Continue Reading

12 ways to reduce your mortgage payment

Even though the housing market seems to be rebounding, we are still living in uncertain times and people are increasingly conscious of how much money they’re spending on necessities. If you’re like most people, you’ve managed to slim your grocery budget, reduced your heating costs and eliminated those subscriptions you barely use so you can… Continue Reading

Mortgage Insurance vs. Secondary Mortgages

After another rise in FHA mortgage insurance rates during the last year and the announcement that borrowers may be locked into those payments for the life of their loans, a lot of people are taking a second look at second mortgages. Piggyback seconds, those small mortgages used in conjunction with a Conventional mortgage at the… Continue Reading

Comparing FHA, VA, Conventional, Jumbo and USDA Loans

So you’ve finally landed that promotion, finished college, gotten married or have just gotten tired of throwing your rent money into an endless pit and are starting to investigate the housing market.  Maybe you’ve even spotted a house that you feel a deep emotional attachment to – but before you step one foot inside, you… Continue Reading

New Mortgage Rules in 2014

In 2013, we finally saw hard evidence that the real estate market is ready for some positive changes: home values have increased, bringing many underwater mortgages to value or better, foreclosures have slowed and everybody is generally in a pretty good mood. If you’ve been putting off buying a home, 2014 is your year. There… Continue Reading

2014: Predictions for the U.S. housing market

2013 saw a lot of changes to the U.S. mortgage industry, from Fannie Mae’s elimination of 97 percent loans and the appointment of a new head of the Federal Housing Finance Agency to nation-wide changes to provide more leniency through FHA programs for troubled borrowers. The Ability-to-Repay Rule and Qualified Mortgage Rule made headlines and… Continue Reading

2013: A year of widespread market improvements

Mortgage news of the early bust years was filled with drama, doom and gloom, but at last, in 2013, the news is getting better.  Delinquencies are down, rates are up and guidelines are getting tighter again as lenders and government agencies struggle to find a balance between customer safety and profitability.  There was a lot… Continue Reading