The attached article sums up today’s buyers…more and more buyers are not seeking high loan-to-value ratios and are either putting more money down or paying cash. However, many of these buyers are not your “typical” first-time homebuyer who may have little equity (less than 5%) to contribute to the down payment. As lenders have tightened…read more
Just when we thought rates had bottomed out and they couldn’t quite possible go any lower; the Feds met yesterday and will buy back $600 billion on long-term treasuries. As a result, we expect mortgage rates to dip even further! Economists predict rates could even dip down as low as 3.875% very shortly, continuing to…read more
Just when you think mortgage rates have gone as low as possible..they have declined to another record low! Mortgage rates hit decades-low of 4.19 percent Source: Associated Press/AP Online Publication date: 2010-10-14 By ALAN ZIBEL WASHINGTON – Rates on 30-year mortgages fell to 4.19 percent, the lowest level in decades. They were pushed down by…read more
The recent news from Zillow.com confirms what I’ve seen in recent years; fewer people are able to obain mortgage dues to credit scores and tighter lender requirments. Typically, lenders like to see credit scores above 720 for the best rates; but even in today’s financial climate I’ve experienced headaches from lenders with buyers with…read more
Today’s article highlights the pros and cons of refinancing with today’s rates. Although I would typically always recommend refinancing to a lower rate if you plan to stay in your house for at least five years & the rate is at least 0.75% lower, there are times when it makes sense to stick with a…read more
Buyers purchasing a home via FHA financing or can take advantage of HUD’s rehab program at the time they purchase the home. Many foreclosures and short-sale properties need work; this program allows buyers to take advantage of low-interest loans to make those improvements. Please see link below for additional details: http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
FHA will tighten up in 2010 | Real Estate and Technology News for Agents, Brokers and Investors | Inman News Posted using ShareThis
