Lowest Mortgage Rates 2014 Over the course of 2014, we’ve watched a very interesting phenomenon take place in home mortgages. Despite the fact that many economists and experts predicted that mortgage rates would rise from last year’s rates, they have remained persistently low. This was a surprising turn that no one expected, considering that almost … [Read more...]
Spring Buying Season Ends on a High Note
July managed to produce the best price appreciation and inventory increase in three years—as well as the highest existing sales for 2014. While affordability levels are far from ideal thanks to the extreme price appreciation we witnessed in 2013, a healthy rise in home values continues to benefit the housing market. For instance, previously … [Read more...]
Should You Rent Or Buy A Home?
Renting vs. Buying in California Which one is better: buying a home or renting one? This is a question that many people ask themselves. In our heads, we all have images about our dream home, but we also hear great stories about people renting their dream home and living care-free, without worrying about mortgage rates. Then we also hear stories … [Read more...]
End of Year Mortgage Tax Statement
Unlike rent, which you pay beforehand (i.e., your Jan. 1 bill covers your stay in the rental unit for that coming month), your mortgage payments are made at the end of your occupancy period. That means your Jan. 1 mortgage statement represents interest for December, making it a tax-break-eligible bill for this year. By accelerating that payment … [Read more...]
How To Shop For A Mortgage
Credit Check First, you should check your credit well before you begin hunting for a home, and work to increase your score if needed, or dispute errors on your report, since those can take time to rectify. You’re entitled to a free credit report from each of the three bureaus (Experian, Equifax and TransUnion) once a year. If there are errors, fix … [Read more...]
Home Buying Process in California
Patience and Preparation Buying a home in California can be an exciting, but intimidating process. If you are a first-time homebuyer, terms like mortgage insurance, counter offer and escrow can be enough to make you reconsider the upside of apartment living. However, with a little preparation you can glide through the steps of buying a home in … [Read more...]
5 Advantages of a Direct Lender
When you work with a direct mortgage lender, you apply with the same company who will be documenting, approving and funding your home loan. It’s a one-stop shop and it has some major advantages. Pros of Direct Lenders The benefits of working with a direct lender are many but two distinct advantages stand out: Competitive mortgage rates … [Read more...]
How To Compare San Diego Mortgage Rates
Mortgage packages consist of more than interest rates. They consist of a quoted rate, points and closing costs. Points Points are an up-front fee paid to the lender at closing. Each point equals one percent of the loan amount. Points are charged, or paid, to lower or increase the rate on the loan. Most lenders will allow you to choose amongst a … [Read more...]
FHA Loan Requirements – What You Need To Know
The Federal Housing Administration (FHA) provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes, as well as FHA approved condominiums, in the United States and its territories. FHA insured loans require mortgage insurance to protect lenders against losses that result … [Read more...]
Flexible Lenders in San Diego
It is a noticeable shift from the last four years, when 20 percent down on a home purchase loan was the only game in the neighborhood. Lenders have been willing to do more than they may have been willing in the past. The requirements have not changed significantly, but other parties taking risk, such as the lenders and mortgage insurance … [Read more...]