What is really going on with the Oxford Michigan real estate market? In the last 30 days, 38 homes have sold at an average price increase of 5.0% over last year at this time. Days on market are at 18 days until sold and 60 new listings at an average price of $287,000. Since the […]
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 […]
“so the client has 3 percent equity immediately…” Quicken Loans has been fairly hush about its latest offering of a super low down payment mortgage, even as rival bank giants like Bank of America, Wells Fargo, and JPMorgan Chase all tout their new 3 percent down mortgage products. But late last year, Quicken Loans quietly […]
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 […]
The 30-year fixed-rate mortgage averaged 3.57 percent in the most recent week, the lowest average in three years, Freddie Mac reports in its weekly mortgage market survey. “Disappointing April employment data once again kept a lid on Treasury yields, which have struggled to stay above 1.8 percent since late March,” says Sean Becketti, Freddie Mac’s […]
Ah, to be a first-time home buyer again: How easy it was to buy a home when you weren’t carrying another mortgage on your back! If you’re looking to graduate from first-timer to repeat buyer, you know things are about to get much trickier. Unless you’re a bona fide house collector, you’ll have to sell your home in […]
This weeks article from Craig Donofrio in the current Housing Trends eNewsletter titled, You Could Get 3 Big Tax Breaks – If You Buy a Home in 2015 … So you didn’t buy a house last year. That’s OK—you haven’t missed the boat yet on low mortgage rates or a healthy inventory of homes. In many ways, […]
Story from Craig Donofrio, 10 Home Buying Costs You Need to Know About, talks about first time buyers and their fees … If you’re a first-time home buyer, you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. And after the color returns to your face, you might […]
“What is a FHA 203K loan”? These loans give you a way to buy a home in need of repair. Backed by the federal government and given to buyers who want to buy a fixer-upper or older home and turn it into their dream home. Repairs that qualify under the FHA 203K loan and the […]
This story from Craig Donofrio, How Mortgage Rates Work and Why They Matter, talks about rates moving, interest percentage and getting locked in … Most of us know mortgage rates are important—after all, the difference between just one-eighth point in interest percentage could end up costing you thousands of dollars over the length of the loan. How Do You […]