What’s the Difference and Why Is It Important in a Competitive Market? Today, let’s take a moment to look at an important yet commonly misunderstood part of the home purchasing process, pre-approval and pre-qualification. The difference between the two is…
More than half of all seniors are in jeopardy of running out of money before they die. However, many of them can avoid this risk by utilizing one of their most secure and dependable assets, their home equity.
Last week I listed out eight ideas for helping sellers buy BEFORE they sell. Those ideas included: Bridge Loans HELOCs Sales Contingency 401k/IRA Gifts/co-signers Renting out their current home Longer Closing Dates Rent Backs Since then, I had the pleasure…
With inventory low and sellers not wanting to be displaced, our sellers trepidation is adding to an already low inventory problem. I recently shared a client story who owned their home outright but due to declining self-employed income heading into…
Despite the pandemic, loss of jobs, political and social unrest, 2020 has seen an incredible surge in housing. The home became everything and everywhere to all of us. That hyper focus along with the Fed’s monetary policy added fuel to…
2020 has been such a challenging year. Let’s start by saying that our hearts go out to those families and businesses who have been adversely affected by the pandemic and its economic fallout. As the promise of a vaccine grows,…
It’s a fair question… why are interest rates rising? A combination of international politics putting a strain on inflation and large flights of safety to sell stocks, it’s causing turbulence on our market.
When rates jump and move around so quickly, it affects affordability. Knowing the affects on conforming, high balance and jumbo loans is important so you can advise your clients on their next move!
If you want to be able to afford MORE home, focus on lowering your debt-to-income, or DTI. This is a key metric lenders use to determine your ability to manage monthly debt payments and repay the money you plan to borrow.
