Many first time home buyers often wonder what factors determine their mortgage rate. Is it their credit score? Is it the type of loan chosen? Is it the size of the loan? The truth is, there are many factors at play. Mortgage interest rates are not standardized across the board, so they vary from lender to lender and from borrower to borrower. Here are 5 common factors that determine or affect your mortgage interest rate: 1. Default Risk Risk is a key consideration when … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 30th, 2018
Last week’s economic reports included readings from Case-Shiller Home Price Indices, new and existing home sales and weekly readings on mortgage rates and first-time jobless claims. Case-Shiller: Home Prices Rise to Near Four-Year High February home prices rose 6.30 percent year-over-year and 0.50 percent month-to-month. Home prices rose just shy of a record set in 2014. The 20-City Home Price Index reported home prices were 6.80 percent higher year-over-year and rose 0.80 percent … [Read more...]
Five Reasons Why Spring Is The Perfect Time To Sell
Spring is many people's favorite season of the year. Obviously, there are many valid reasons why this is so. One of the best things about spring is that it is an ideal time to sell your home. If you have considered putting your home on the market any time in the next year or so, check out these five reasons which make spring the ideal time. Buyers are searching - A huge majority of home buyers want to move during summer. Many families have school or work vacations that make the moving process … [Read more...]
The Home-Buying Closing Process in a Nutshell
The closing process for a home purchase is an exciting time. The home is finished, the purchase is ready to be finalized and it's almost time to move in. The final steps of the closing process ensures both parties are able to meet their requirements and all the paperwork is in place and verified. The Key Players There are actually four parties involved in a typical closing: the buyer, the seller, the bank or lender financing the purchase, and the escrow agent. Each has an important role in … [Read more...]
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