16
Jul
By Todd Grey
Home Buyer Tips, ,

Understanding Warrantable vs. Non-Warrantable When Purchasing a Condo

When you're shopping for a condo, there's a bit more on your plate than just the typical homebuying concerns like credit scores, interest rates, and loan programs. A crucial aspect is understanding the role of the Homeowners' Association (HOA) and whether the condo is warrantable or non-warrantable. This distinction can significantly impact your mortgage process and future as a condo owner. Warrantable Condos: What You Need to Know A condo is considered warrantable if it meets the standards set by Fannie Mae and Freddie Mac, the two main government-sponsored entities in the mortgage industry. These entities buy mortgages on the…
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15
Jul
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – July 15th, 2024

With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release. The outlook for a rate cut this year has changed, making the potential for it highly likely. Even Jerome Powell, who usually has a more hawkish response regarding rate cuts, is now leaving some room for this possibility. With the outlooks in favor of a rate cut, we’re seeing the impact across many markets as…
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15
Jul
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – July 15th, 2024

With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release. The outlook for a rate cut this year has changed, making the potential for it highly likely. Even Jerome Powell, who usually has a more hawkish response regarding rate cuts, is now leaving some room for this possibility. With the outlooks in favor of a rate cut, we’re seeing the impact across many markets as…
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12
Jul
By Todd Grey
Mortgage, ,

The Difference Between Pending And Contingent Deals

The real estate market can be a bit confusing, especially when you encounter terms like "pending" and "contingent" deals. Understanding these terms is crucial whether you're a buyer or a seller, as they can significantly impact the progression of a property transaction. What Is a Contingent Deal? A contingent deal occurs when a seller has accepted an offer from a buyer, but the sale is dependent on certain conditions being met. These conditions, or contingencies, are clauses included in the contract that must be satisfied for the sale to proceed. Common contingencies include: Home Inspection Contingency: The buyer can back…
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11
Jul
By Todd Grey
Homebuyer Tips, ,

House Hacking Pros And Cons Explained

Have you ever heard of house hacking? It’s a real estate strategy that allows you to live in a property while renting out part of it to generate income. This approach helps offset your living expenses and can even pave the way to financial independence. Here’s a breakdown of what house hacking entails, along with its benefits and drawbacks. What Is House Hacking? House hacking involves purchasing a property, living in one part of it, and renting out the other parts. The most common setup is buying a multi-family property (like a duplex or triplex) and renting out the other…
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