This Month: What is Happening with Rates?
- Marty Prince
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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 payments, or to use the equity in your home to improve […]
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! Myth: You have to have a credit score of at least […]
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 drop during the real estate collapse. If you were not able […]
Are Interest Rates Going Up or Not? If So, When is it Going to Happen?
- Marty Prince
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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 has. Other influential players in the economy are asking her to […]
What is a FICO Score?
- Marty Prince
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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 if they were a good borrower. Several years ago, two men […]
What Happens to Your Ability to Buy a Home When the Rates Go Up?
- Marty Prince
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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 power. Today’s buyer can get a lot more home for his […]
You CAN Qualify!
- Marty Prince
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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. However, here are some of the areas of misunderstanding that could […]
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 from someone who purchased the same product you are looking at, […]
Get HELP with your Home Loan!
- Marty Prince
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What is a mortgage broker and why use one for your home loan? A mortgage broker is a licensed and qualified professional in the field of home loans. The job of a mortgage broker is to work with a borrower (whether it be a home buyer or a current homeowner who is refinancing) and help […]
Advantages to Owning Your Own Home
- Marty Prince
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Are there really any advantages to being a home owner? Let’s compare 2 young couples. And, let’s look at 20 years of their financial life. Couple A: They decide that it just ‘costs too much’ to buy a home, so they will continue to rent. Over the next 20 years they spend $2200 per […]