If you are thinking about refinancing, you probably have a good reason. Maybe you are curious if you could save money by locking in a lower interest rate. Maybe you wonder if you could use some of the equity you have established in your home. Whatever your reason, here are 5 things to know before …
“The sudden stop in employment growth rules out any chance of a rate hike from the Fed at next week’s FOMC meeting, particularly now that the UK vote on whether to leave the European Union appears to be going down to the wire,” said Capital Economics Chief Economist Paul Ashworth. (source: Housingwire.com) Britain’s exit from the …
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Are you living the American Dream? Most of us have a pretty good idea about what the American Dream is. In case you don’t, we looked it up: If we carry this definition further, we find that many Americans see homeownership as an important part of that dream. Let’s look at some recent statistics. Existing home sales in May […]
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BUYING A HOME? If you intend to buy a home, you can pay cash or finance the purchase. Obviously, few of us are able or willing to pay cash. So, most Americans use mortgages to purchase a home. FIXED OR ADJUSTABLE? There is a dizzying array of mortgage options, but it boils down to two …
Many more people than ever in Grand Rapids are using the second mortgage as a financial tool to leverage to the next level in life. Contrary to popular belief, the second mortgage is much more than a bailout for a homeowner who may be underwater on payments or credit cards. It is a thorough measure …
A commercial mortgage loan is one that is secured by commercial property. The lender will have to verify that the entity seeking the loan is qualified and therefore certain documents will have to be submitted as a part of the application. Those documents include: • Proof of business earnings for the last three years (at …
One of the best long-term decisions that a person can make is purchasing a new home. While the value of a home may go up and down over a short period of time, home values have always increased over the long-term and have proven to be a great way to build personal equity. To purchase […]
Over 1/3 of all real estate purchases are first time homebuyers and this infographics helps us understand who they are. We used data collected by the National Association of Realtors and turned it into a fun way to digest the information. Check out our very first infographic and feel free to share it: (Click on ...
The housing slowdown may have been accompanied by an inability for potential homeowners to obtain mortgages, but the latest Fannie Mae National Housing Survey shows movement on the mortgage consumption-front. For the month of November, 51% of survey respondents said it would now be easier to obtain a mortgage. This larger vote of confidence suggests [...]
