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For a first time homebuyer the whole process of purchasing a home can be a bit daunting at first thought. It doesn’t need to be if you have the right people you are working with. That also goes for any person purchasing a home in the ever evolving real estate and mortgage market. Here’s a [...]
Two weeks into the new year and the average rate for a 30 Year Fixed Conventional Mortgage is at 5.06% as reported by Freddie Mac. That’s lower than the previous two weeks but nowhere near the record lows we saw in 2009 when the average got as low as 4.71%. So the big question [...]
There have been major overhauls in the mortgage industry over the past several years with loan programs going away, qualifications getting more restrictive and an increase in documentation and disclosures for borrowers. The US Department of Housing and Urban Development (HUD) has introduced new elements to the Real Estate Settlement Procedures Act (RESPA) many of which [...]
The beginning of 2010 was marked by higher mortgage rates but we continued to see some improvement with the third week of declines in a row. The average for a 30 Year Fixed Conventional loan as reported by Freddie Mac dropped to 4.99% from 5.06% the previous week. That was in a week that had [...]
Here are some frequently asked questions with regards to the revisions to the Homebuyer Tax Credit program
Throughout the last several years the mortgage market has undergone many changes. We went from having too many products with too little restriction and aggressive account executives promoting their products. Now the pendulum has swung back the other way and the products are limited, the number of low or no down payment products has shrunk [...]
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