Blog

19
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 19th, 2018

Last week's economic news included readings From National Association of Home Builders, Commerce Department reports on housing starts and building permits issued Weekly readings on mortgage rates and new jobless claims were also released. NAHB Posts 3rd Consecutive Decline in Builder Confidence According to the National Association of Home Builders, builder confidence in housing market conditions dropped by one point in March to an index reading of 70. Three sub-categories of builder sentiment used to calculate the overall reading were either unchanged or lower than February readings.  Confidence in current market conditions were unchanged at 72, Builder confidence in market…
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16
Mar
By Jim Hasek
Real Estate, ,

Moving From An Apartment To A House? Here’s What You Need To Remember About Your Lease

The major problem that the vast majority of buyers will run into - especially when purchasing their first home - has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. If you locate the perfect home in February but your lease isn't over until August, you can't be expected to wait around. But at the same time, the remainder of that lease agreement could represent thousands of dollars that you'll be paying to essentially "live" in two different places at the same time. Luckily, all hope is not lost.…
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15
Mar
By Jim Hasek
Mortgage, ,

What Are The Benefits And Drawbacks Of Putting 20 Percent Down On A Home Purchase?

Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn't save this substantial amount, the reality was that for the majority of people, the 20 percent down was a requirement. It was the way to show that you were financially responsible enough for homeownership. And it was a strong way that the banks felt secure in making a home loan. Today, however, homebuyers have many options available to them as they shop for a new home, and those…
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14
Mar
By Jim Hasek
Mortgage, ,

What Items Can Change My Mortgage Pre-Approval Status?

When you are purchasing a home, your lender may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals. So the question many buyers have is what exactly is a mortgage pre-approval? In a nutshell, it's when the lender provides you (the buyer) with a letter stating that your mortgage will be granted up to a specific dollar amount. What Do I Need For Pre-Approval? In order to obtain a pre-approval for your home purchase, you will…
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13
Mar
By Jim Hasek
Mortgage, ,

Can I Have A Co-Signer For My Mortgage Loan?

Like credit cards or car loans, some mortgages allow borrowers to have co-signers on the loan with them, enhancing their application. However, a co-signer on a mortgage loan doesn't have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer. Mortgage Co-Signers A mortgage co-signer is a person that isn't an owner or occupant of the house. However, the co-signer is on the hook for the loan. Typically, a co-signer is a family member or close friend that wants to help the main borrower qualify for a mortgage. To that end, he signs…
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12
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 12th, 2018

Last week's economic releases included reports on Non-Farm Payrolls, ADP payrolls, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released. Public and Private Sector Jobs Show Mixed Readings ADP Payrolls reported 235,000 private sector jobs added in February as compared to January's updated reading of 243,000 jobs added. Analysts estimated 205,000 private sector jobs would be added, but this was based on the original reading of 234,000 jobs added. February was the fourth consecutive month when private sector job growth exceeded 200,000 jobs. According to the federal government, Non-Farm payrolls added 74000…
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