This Month: What is Happening with Rates?
- Marty Prince
- General
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If you have been considering purchasing or refinancing, now is the time to act. The trend of rates over the last several months is upward. Expect home loan rates to continue a slow steady rise. If you have had plans to lower your existing...
Rent vs. Own: Which is Better?
- Marty Prince
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Myth: You have to have 20% as a down payment to buy a home. Truth: Several loan programs exist with 3% down payment. One loan program only requires 1% down! And, this down payment can come from a gift from parents or a relative!...
Two Pieces of Good News
- Marty Prince
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I have great news! We have 2 really good things happening now at the same time. Property values are very high, and interest rates are very low. What a great combination. Property values are way way up. They have fully recovered from their big...
Are Interest Rates Going Up or Not? If So, When is it Going to Happen?
- Marty Prince
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- None
For several months there has been speculation about interest rates. Everyone seems to agree they are going up. The big question is when. The Federal Reserve chairman said in May that she expects to raise rates this year, based on the economic data she...
What is a FICO Score?
- Marty Prince
- General
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Believe it or not, creditors used to look at a potential borrower’s credit report and use judgment to decide if the borrower was a good credit risk. There was no credit scoring system. The creditor would review the borrower’s payment history and could see...
What Happens to Your Ability to Buy a Home When the Rates Go Up?
- Marty Prince
- General
- None
Over the last few years I think we have gotten a little spoiled. Interest rates today are still below 4% for many loan programs. These rates are historically low. What does that mean for someone buying a home today? It means much more buying...
You CAN Qualify!
- Marty Prince
- General
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Homebuyers may be more qualified than they think! Recent national surveys have uncovered several misconceptions about home loans. The most interesting fact was that over 90% of those who are currently renting said they would like to buy a home if they could qualify....
Who Can You Trust?
- Marty Prince
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Who can you trust for your financial decisions? When you are about to make a major financial decision, how do you ensure you are getting a good deal? Who do you turn to for advice? It is wise to get a referral...