Mortgage Blog

Most first-time homebuyers almost always make a few mistakes when buying their home. Sometimes they pay too much, choose the wrong type of mortgage or forget to budget for needed home improvements.

Working with a trustworthy, experienced lender can help prevent such mistakes. But homebuyers also need to take responsibility for their budgets and choices. An excellent place to start is by developing a short- and long-term outlook on their purchase.

What are the three biggest financial mistakes of first-time homebuyers? Read more »

Do you think that now is a good time to buy a home? There are hints that our economy is recovering from the recession of the last 3 years which has turned the real estate industry upside down. With interest rates and home prices at historic lows, this could mark one of the best times in history to consider buying a new home.

Home buyers are becoming more upbeat today as they seize the opportunity to snatch up properties at very low prices and at very low interest rate. If you are a potential home buyer considering Read more »

Traditionally, spring is when prospective homebuyers come out of hibernation and begin the hunt for their next home. But with the unrest in the economy, budget battles in Washington and an unsteady housing market, many house hunters are wondering whether it is the right time to buy.

Homeowners who refinance are usually in one of two categories, they either want a more affordable monthly mortgage payment or are looking to lower their debt by shortening the repayment term on their home loan.  Those seeking a more affordable payment will either look for a lower interest rate or a longer term. Those seeking Read more »

Keeping  good credit: A few tips to keep your finances safe

Several factors that can favorably impact your credit score include the age at which you first obtain credit, the number of creditors you are active with and — most importantly — how you pay your bills. Even late library books can have an impact.

A credit score is composed of information about a person’s credit history, amount of outstanding debt and the type of credit the person uses.

Not only can credit card debt and missed loan payments damage one’s credit — but outstanding medical bills, non-payment of rent and even unpaid library fines can also negatively impact one’s financial future. Read more »

Chris Farr   November 16, 2010  9:30 am

It was bound to happen. Rates have been at historic lows for a couple of months but the trend last week had rates trending up.  The MBS market saw an initial sell off in the morning, an eye-popping 75 points within minutes of the opening, and then a slow grind back throughout the day to previous day’s closing levels. Then the bottom fell out. Read more »

by Jann Swanson on Nov 8, 2010

The National Association of Realtors® (NAR) used the forum of its 2010 Conference in New Orleans to urge the lending industry to make things easier to qualified buyers to become homeowners.  NAR appealed primarily to the public sector, i.e. FHA, Fannie Mae, and Freddie Mac, which it said account for more than 90 percent of the mortgage market, saying that lenders refuse to make loans without assurance that FHA will insure them or the GSEs will buy them. Read more »