How Many Homes Can I Finance?

Mortgages

How Many Homes Can I Finance?

How Many Homes Can I Finance?

Real estate investors are hit the hardest by “multiple finance property” guidelines, which the majority of lenders enforce. When an individual owns four or more indebted residential real estate properties beyond the primary home — that’s what’s known as a multiple finance property situation. If you have fewer than four financed properties, then you won’t… Read More

Underwater Mortgages Fall in the Third Quarter

Mortgages

Underwater Mortgages Fall in the Third Quarter

Underwater Mortgages Fall in the Third Quarter

The percentage of homeowners underwater on their mortgages has dropped significantly during the past year, according to the quarterly Negative Equity Report from Zillow. Twenty-one percent of of homeowners with mortgages owed more than their homes were worth in the third quarter. That’s down from 28.2% in the same period of 2012, which is the… Read More

5 Creative Ways to Come Up With a Down Payment

Mortgages

5 Creative Ways to Come Up With a Down Payment

5 Creative Ways to Come Up With a Down Payment

To successfully purchase a home today, you will need a down payment of at least 3.5% of the purchase price. Gone are the days of no down payment alternatives, down payment assistance and seller-offered programs to come up with the money needed to buy a home. Instead, let’s look at the five ways you can… Read More

5 Times It Pays to Wait to Get a Mortgage

Mortgages

5 Times It Pays to Wait to Get a Mortgage

5 Times It Pays to Wait to Get a Mortgage

You’re doing everything right, paying your bills on time, earning a good living, and you’re applying for a mortgage — with second thoughts. Maybe you’re trying to buy a new home, and something’s just not right, perhaps the payment is too high. Whatever the case, paying attention to the signs means the difference between making… Read More

How Fast Can You Buy a Home?

Mortgages

How Fast Can You Buy a Home?

How Fast Can You Buy a Home?

In hot markets across the country, homes are selling fast. And that means if you hope to buy a home, you have to be prepared to move quickly. “I’ve seen all cash offers close in three days,” says Realtor.com’s Consumer Housing Specialist Leslie Piper. “And I’ve seen loans get approved and close within 21-25 days.”… Read More

Is Divorce Keeping You From Buying a Home?

Mortgages

Is Divorce Keeping You From Buying a Home?

Is Divorce Keeping You From Buying a Home?

Getting a mortgage is challenging enough — with strict underwriting requiring detailed explanations, sourcing of monies and debt ratios — but adding a divorce to the picture makes it even more technical for the divorced borrower. The good news is despite most divorce situations, many can still successfully get a mortgage. What to Plan For… Read More

Number of Homes for Sale Drop 12.2% From Last Year

Mortgages

Number of Homes for Sale Drop 12.2% From Last Year

Number of Homes for Sale Drop 12.2% From Last Year

The number of homes for sale nationwide has been rising steadily so far this year but is still somewhat restricted from the numbers seen at this time in 2012, leading to speculation about the eagerness of buyers to deal with the frustration this lack of inventory can typically engender. Overall, the amount of homes on… Read More

850,000 Homeowners Climb Out of Underwater Mortgages

Mortgages

850,000 Homeowners Climb Out of Underwater Mortgages

850,000 Homeowners Climb Out of Underwater Mortgages

During the recent housing downturn, borrowers nationwide saw the value of their homes slip so considerably that they ended up owing more on their mortgages than the properties were worth. However, that trend has slowly been reversing itself for some time, thanks to the market’s turnaround, and that continued into the first quarter of the year. Some 850,000 homeowners… Read More

Mortgages: When a Good Interest Rate Doesn’t Matter

Mortgages

Mortgages: When a Good Interest Rate Doesn’t Matter

Mortgages: When a Good Interest Rate Doesn’t Matter

Consumers shopping for a mortgage tend to be focused on one underlying goal: The lowest possible interest rate. Many have already noticed that rates have crept up in recent weeks as a result of the more exuberant stock market. The consensus is that more consumers who were observing the market movement are seeing rates rise… Read More

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