Buying a New Home   You have decided to buy a new home what are the next steps you need to make in order to do this.  Make sure you are prepared to begin you search of buying a home by doing a few simple things before you begin your search. 1. If you are…

The Federal Reserve has released information that that are planning on raising rates at least 3 more times this year.  They have already raised the rates 1 time earlier this year.  What does this mean raising rates? The Federal Reserves is the one who creates the policy on the economy by setting interest rates that…

Welcome to home buying season.  Every spring is the official start of the new home buying season.   As the flowers start to bloom people begin to think about moving into a new home and spring tends to make buyers blossom and begin the process.  Before one start to look for a new home you…

What are Credit Scores? Credit Scores also known as FICO (Fair Isaac Co) score are scores from three major credit agencies Experian, Equifax and Trans Union.  They range in scores from 350-850 with 850 being the best and 350 being the worst.  You receive a score from each one of the Agencies and they are…

Now that the calendar has turned to April it is officially Home Buying Season.   More home are sold or bought between April and August 31st than any other time of the year.  The main reason people like buying this time of year is that they want to be in the new home before the…

In 2017 home values increased all over the value.  What impact does that have on the home buyer? When prices go up in value that means for a home buyer that the cost of you home increases and your buying power decreases.  For every $10,000 increase in price that means you have to put more…

Wednesday March 21st the Federal Reserve increased the interest rate by .25% from 1.50% to 1.75%.  But what does this mean to you for yoru mortgage?  In a simple answer not very much to you.  What actually happened was the Federal reserve increased their overnight lending to banks by a quarter of one percent.  This…

An FHA loan is a great option for a lot of people in the market for a home mortgage but know the pros and cons to one before you sign on the dotted line. PROS: Low down payment 3.5% of the sales price. Low credit score require, down to as low as 580. Down payment…

What are Loan Limits?  Loan limits are the maximum amount a lender will loan you for a certain type of loan.  These are set by the agency that you will be getting your loan quidelines through such as Fannie, Mae or Freddie Mac for a conventional loan, Federal Housing Authority (FHA) or the Veteran’s Administration…

I am often asked how much money is required for a down payment?  Well that really depends on the type of loan you are going to get.  There is little as no money down to as much as you want to put down.  But I will tell you the basics of down payments within the…