Since the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of home-ownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them. If you are a veteran or you know someone who is,
Category: Mortgage Reports
Average Interest Rate & Mortgage Payment Across Time
Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.1% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant!
Home Buying Myths Slayed
Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall.
Why Getting Pre-Approved Should be Your First Step
Why Should I get Pre-approved before finding my house? In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about
Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which
The Mortgage Process: What You Need To Know
Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.
Where Are Mortgage Interest Rates Headed in 2018?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s
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