Last week, the Federal Housing Administration (FHA) announced revised policies regarding FHA loan approval of condominium units. These policy changes were made in an effort to provide affordable homeownership and become effective October 15, 2019. “Condominiums have increasingly become a source of affordable, sustainable homeownership [...]
Whether you are upgrading from your starter home and moving into something larger or you are an empty nester who is ready to downsize, as a second time buyer, you’re entering the home-buying process with some experience under your belt. However, depending on when you [...]
Starting September 1st 2019, homeowners will be slightly more limited in how much equity they can access through a cash-out refinance from the Federal Housing Administration. The FHA published Mortgagee Letter (ML) 2019-11, “Maximum Loan-to-Value and Combined Loan-to-Value Percentages for Cash-out Refinance Mortgages,” announcing the [...]
There are a lot of reasons to refinance your mortgage. Refinancing can lower your interest rate, change the terms of your loan, or convert an adjustable-rate mortgage to a fixed-rate. According to a report from Black Knight, a technology, data and analytics provider for the [...]
New research has revealed a renewed sense of optimism among young first-time homebuyers. Despite the tight housing industry, Generation X, Millennial and Generation Z homebuyers, many of them renters, believe 2019-2020 is the right time to get into the real estate market. So what is [...]
MSHDA Approved Lender Says Rates Have Dropped This Week The interest rates for a MSHDA loan with down payment assistance decreased Wednesday, July 10th to 4.375%. This lower rate gives buyers more purchasing power as it will cost less to borrow money. Buyers can expand [...]
Use Fireworks with Caution Fireworks displays will be lighting up the skies throughout our neighborhoods this week as we approach The 4th of July. And although they are exciting for children and adults alike, they can be downright dangerous, including sparklers if children are left [...]
According to the Zillow Housing Aspirations Report, 45% of those surveyed said that one of their greatest regrets is renting rather than buying – which is five times the number of homeowners (8%) who regret buying instead of renting. The report also found that renters [...]
The average U.S. rate for a 30-year fixed mortgage rose from 3.82% to 3.84% this week according to the latest Freddie Mac Primary Mortgage Market Survey. Interest rates are still significantly lower than last year compared to 4.57% in June of 2018. And in December [...]
A 20-percent down payment on a house is a lot of money, no question about it. Do you know how long it takes for an average American to save for a 20% down payment? The 2019 Home Affordability Report from co-investment firm Unison found that [...]
