All posts categorized under ‘Financing’

Make a comment.

Final Closing…Finally

Posted on August 28th, 2010 by Richard. Categories: Financing.

I just experienced something that I thought was worth mentioning. A transaction where I was representing the Seller which was supposed to close a couple days ago, kept being delayed again and again by the actions, inactions and innept processing of the mortgage loan by the buyers lender. While delay after delay was announced, the buyers furniture and personal possessions sat in their cars and on the moving truck as movers threatened to unload

Make a comment.

Market Watch – July 2010 edition

Posted on July 21st, 2010 by Richard. Categories: Financing, Market Conditions, Market Watch.

A review of market activity last month shows it’s continued transitioning into a market that’s more traditional. Without the effects of the federal government stimulus money that induced purchasers to buy now, altering their normal motivation, sales slowed from previous months. This was expected. But still it was surprising that the market was 30% off compared to the same time period in 2009.

While some would see this as negative news, I call

Make a comment.

Tax Incentive Flurry

Posted on April 8th, 2010 by Richard. Categories: Financing, For Home Buyers, For Home Sellers.

The deadline in order to be eligible for the tax incentives from the Federal Government for home buyers is really causing some excitement in the marketplace right now. As most people know by now, first-time home buyers can receive up to $8,000, and seasoned home owners up to $6,500 as a tax credit if they close on a home they are purchasing before June 30 this year. The frenzy though is being caused by

Make a comment.

PMI Details

Posted on February 19th, 2010 by Richard. Categories: Financing.

PMI, or Private Mortgage Insurance, is a fact of life these days if a buyer wants or needs a mortgage to purchase a home that is greater than 80% of the purchase price. PMI insures the lender for the amount over 80% in case there is a default. Without this coverage, lenders would be hesitant to give a mortgage to anyone with a lower equity position. PMI simply reduces the lender’s risk.

A PMI pemium is

Make a comment.

Steady Rates

Posted on January 25th, 2010 by Richard. Categories: Financing.

I’ve tracked mortgage rates from lenders for years, always to keep my knowledge current on the financing end of things. Just about every day, I receive rate updates from several different lenders. In years past I remember mortgage rates that were a LOT different than now-a-days. More than double what they are now. But mortgage rates lately have been steady for quite a while now at around the 5% level for fixed rate/30 year conventional mortgage loans. These are loans with no discount points

Make a comment.

Lenders Have No Money?

Posted on June 16th, 2009 by Richard. Categories: Financing.

There are still some who believe that the real estate market is dead, the financial world is in shambles and that mortgage lenders have no money to lend. Let’s just STOP right there. The truth is there is a glut of money out there from investors to loan. If you want a loan to buy a home, are employed and have decent credit scores, there is no problem at

Make a comment.

Opening Doors

Posted on May 21st, 2009 by Richard. Categories: Financing, For Home Buyers.

-

I would think most people have heard at least something about the incentives available for first-time home buyers this year. Possibly though some don’t realize that anyone who has not owned a home for the last three years also qualifies.

The federal government is trying to stimulate housing market activity which has slowed over the last couple years. Simply put, if you qualify as a first-time home buyer, and purchase a home