Mortgage lenders weigh the risk of getting their principal and interest paid back by looking at the qualities of the prospective borrower. Due to the amount of money being requested and lent to purchase homes, those requirements can become daunting.
Mortgage lenders weigh the risk of getting their principal and interest paid back by looking at the qualities of the prospective borrower. Due to the amount of money being requested and lent to purchase homes, those requirements can become daunting.
Last week’s economic reports included readings on construction spending, mortgage rates and weekly jobless claims. Other labor-related claims included ADP payrolls, Non-Farm Payrolls and the national unemployment rate.
Today’s homebuyers can have specific ideas and personal preferences that influence their decision on what attracts them to a particular property. While some prefer a fixer-upper, many desire a home that’s as close to turn-key as possible.
With mortgage rates finally looking like they may move upward a bit as the overall market improves the adjustable rate mortgage starts to come into play again.
Owning a home is important to military veterans just like the majority of other consumers. The Veteran’s Administration has provided an exceptional benefit for those who have served (or are currently serving) in any of the armed forces. And this VA Loan Program is helping thousands of service members achieve the goal of home ownership.
Although the majority of the Generation Z population make $25,000 or less per year, they really have embraced the American Dream of home ownership.
Last week’s economic releases included readings from Case-Shiller, pending home sales, and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.
The oft-repeated maxim that there is never a second chance to make a great first impression is especially true when it comes to real estate. Street appeal may focus on a dramatic approach to the front door, but prospective buyers will be especially “wowed” by an appealing back yard.
A mortgage pre-qualification is an initial estimate of what type of mortgage a borrower could get. It is limited, though, because it’s only based on what the borrower tells the lender, which might not be the same as what the lender finds out when it goes through a full process of analyzing the borrower and his credit.
In a hot real estate market, agents often tell buyers they must expect to make multiple offers before one is accepted. Disappointment may be the new normal rather than an exception. The stress of repeated rejections isn’t easy, so be prepared.
Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days.