02
May
By Todd Grey
Mortgage, ,

Purchasing A House That Requires Repairs: What To Know

If you are looking for a way to save money on the purchase of your next home, you might be thinking about buying a property that requires repairs. Keep in mind that you will not be able to move into this property right away, so is it the best option? You could open the door to unique financing options that could make it easier for you to purchase your next property. FHA 203(k) Rehab Loan One of the best options available is an FHA 203(k) rehab loan. This is a convenient option because it allows you to finance both the…
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01
May
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 1, 2023

Last week’s economic reporting included readings on home prices, sales of new homes, and pending home sales. Monthly and year-over-year readings for inflation were published along with weekly reports on mortgage rates and jobless claims. February S&P Case-Shiller Housing Market Indices show slower home price growth National home prices continued to rise in February, but at a slower pace according to S&P Case-Shiller home price indices. Month-to-month home prices rose by  0.40 percent in February and matched analysts’ expectations, but were lower than January’s reading of  2.50 percent home price growth. S&P Case-Shiller’s 20-city home price index, which is frequently…
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27
Apr
By Todd Grey
Mortgage, ,

What Does It Mean To Be In A Seller’s Market: A Brief Overview

In the realm of real estate, market conditions can differ significantly due to a variety of factors. One such state is known as a seller's market, which typically benefits those wanting to sell their property. Let’s dive into what makes a seller's market advantageous for homeowners looking to offload their house and why it's an attractive option for buyers too.  A Lack Of Inventory The lack of available homes creates supply-side pressure in a seller's market; there are fewer houses on offer than there are prospective purchasers searching for them. This scarcity could be attributed to many reasons including economic…
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26
Apr
By Todd Grey
Mortgage, ,

Understand Your Options When You Refinance A Home Loan

Are you interested in refinancing your mortgage? There are a variety of reasons why you might want to refinance your home loan. For example, you might want to secure a lower interest rate, or you may want to reduce your monthly payment. You might even want to tap into the equity you have in your home for some quick cash. There are different loan options available, so you need to think carefully about which one is best for your needs.  The Conventional Mortgage Refinance One of the first options you will consider is a conventional mortgage refinance. This could be…
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25
Apr
By Todd Grey
Mortgage, ,

How Do I Get Rid of PMI?

How to Get Rid of PMI? PMI (Private Mortgage Insurance) is a type of insurance that lenders may require borrowers to pay if they have a down payment of less than 20% of the home's purchase price. The purpose of PMI is to protect the lender in case the borrower defaults on the loan. However, once you have paid off enough of your mortgage or your home has appreciated in value, you may be able to get rid of PMI. Here are some ways to do so: Pay down your mortgage: If you make extra payments on your mortgage or…
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