Blog

18
Jan
By Jim Hasek
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – January 18, 2016

In addition to weekly reports on mortgage rates and new unemployment claims, last week's economic news included the Fed's Beige Book report, retail sales and consumer sentiment. January's Empire State Index showed an unexpected dip and Consumer Sentiment increased for January. Fed's Beige Book Shows Diverse Economic Trends According to the Federal Reserve's Beige Book report for January, the central bank's business contacts reported strength in housing, while agriculture, energy and manufacturing sectors were struggling. New York's Empire State Manufacturing Index for January supported this trend with a sharp drop. New York manufacturing has hit its lowest level since the…
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14
Jan
By Jim Hasek
Mortagage Tips, ,

Who Is Exempt From The VA Funding Fee?

Who is NOT required to pay the VA funding fee? This video could save some veterans thousands. VA loan applicants pay a funding fee - as of 2014, 2.15% of the total loan amount - which can be thousands of dollars. Some veterans and spouses are eligible for exemption. Broadly speaking, veterans who received disability benefits - current or former and who are NOT currently in debt to the government may be exempt from the funding fee. Some spouses may qualify as well. The key thing to understand is, exemption from the funding fee is NOT automatic! Borrowers must certify their veteran…
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13
Jan
By Jim Hasek
Home Mortgage Tips,

Owning vs Renting: Why High Rents Are Worse Than a Mortgage over the Long Term

If you're at the stage in life where home ownership is nearly within your reach, you're probably wondering whether you should start looking for a home or whether you should just keep renting. Renting is easier, people say, and it gives you more mobility. But over the long term, all that rent money can really add up - and it eventually reaches a point where buying a home is a better deal. So why is paying a high rent a worse option than buying a house and getting a mortgage? Here's what you need to know. Renting Doesn't Generate Equity…
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12
Jan
By Jim Hasek
Real Estate Tips, ,

Real Estate Terms: The ‘Debt to Income’ Ratio and How It Affects Your Home Purchase

The real estate market is rife with terminology that can make a home purchase seem more than a little complicated. If you're currently looking for a home and are considering your loan options, you may have even heard the term 'Debt to Income' ratio. In the interest of simplifying things, here are some insights on what this term means and how it can impact your home investment. Determining Your 'Debt to Income' Ratio It's important to consider what exactly your DTI ratio is before your home purchase as this will quickly determine how much home you can actually afford. To…
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11
Jan
By Jim Hasek
Home Mortgage Tips, ,

Money Matters: Understanding How a Mortgage Loan Can Be a Productive Investment

Most people tend to think of a mortgage loan as a necessary evil, an expense that has to be managed. But under the right circumstances, your mortgage can become a smart investment - something that makes you money instead of costing you money. With a little bit of ingenuity and a lot of hard work, you can turn your mortgage into a money-making investment that will pay dividends for years to come. So how do you turn your mortgage loan into a productive investment? Here's what you need to know. A Mortgage Can Help You Buy A New Rental Property…
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10
Jan
By Jim Hasek
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – January 11, 2016

The first week of 2016 was quiet concerning housing and mortgage related news, but reports on construction spending and several labor-related reports were released. Construction spending is connected to housing markets as it provides evidence of builder confidence and also future housing supply. Labor market trends provide a sense of economic performance in general and can influence potential buyers on decisions about buying or not buying homes. Construction Spending Dips in November According to the Commerce Department, construction spending dropped by 0.40 percent in November to a seasonally adjusted annual reading of $1.12 trillion. November's reading was short of the…
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