Rural Development Loans Just Got Better! Mortgage Broker, Linda Sinacola (PLB Lending – 248.931.9600) just shared with me that mortgage insurance has dropped drastically on the new RD mortgages! The upfront guarantee fee is now 1%, that’s down from 2% and the monthly mortgage insurance is now only .35% instead of .85%. Many areas qualify […]
Financing, home inspection, and appraisal issues … Watch out for financing, home inspection, and appraisal issues. These are the three most commonly cited culprits for delays or even terminations at closing lately, according to the REALTORS® Confidence Index Survey. These issues comprised more than a quarter of all the delays in contracts from the February […]
The Buyers Are Coming … Mortgage rates may have inched up slightly but that didn’t seem to deter home buyers from shopping for a loan last week. Mortgage application volume rose 2.3 percent week-over-week on a seasonally adjusted basis, driven by an uptick in home purchase applications, the Mortgage Bankers Association reports. Mortgage applications are nearly […]
Borrowers were undeterred by the highest interest rates in five months as mortgage applications for home purchases surged 12 percent in the latest week. Home purchase applications are now 19 percent higher than one year ago, the Mortgage Bankers Association reports. “This was despite the fact that mortgage rates reached their highest level since July,” […]
This series, Getting Started, is about should you buy or rent at this time, what can you afford, how do you secure a mortgage and home buyer tips from real estate brokers and mortgage lenders. 1) Advantages of buying vs renting 2) How much home can you afford 3) Getting a mortgage in today’s market […]
Rising home prices, demand from home buyers, and less competition is making 2015 a stellar year to sell for many U.S. home owners across the country. These three factors are behind why this year is shaping up more favorably for sellers: 1. Stronger demand coming from buyers: Sellers in many markets are seeing stronger demand […]
What you can and can’t deduct when you work from home. Working from home can offer many advantages including tax deductions. Just take care what you try to write off for your home office on your return. Passing the IRS Litmus test To meet IRS guidelines, your home office must be your principal place of […]