FREE Quote: (877) 503-LEND (5363)

Blog

14 Remodeling Projects That Increase the Value of Your Home

Real Estate , ,
Your home is likely your largest investment. Beyond repairs and regular maintenance to keep it clean, comfortable, and safe, there are a number of projects that can increase the resale value of your property. These renovations top the list of changes you can make that positively impact your home's value. Kitchen With the right strategy, your kitchen remodel could return up to 92.9% of your construction investment. The trick is to not overdo it. You don't need to gut and rebuild the entire room. Instead, make strategic upgrades that increase the comfort and usability of the room. Paint wooden cabinets…
Read More

4 Ways To Get Your Home Loan Closed Faster

Mortgage , ,
You've finally found the perfect home for your family. Now the only thing standing between you and domestic bliss is the loan process. Use these techniques to shorten the amount of time between placing your bid and getting the final approval on your new home mortgage. Perfect Your Credit Rating Your credit score is a measure of your financial responsibility. Lenders look closely at your creditworthiness in their attempt to decide your loan's risk. Before you start shopping, take some time to clean up your credit history. Some credit habits that help shorten your loan approval period include: At least…
Read More

NAHB: Housing Market Index Flat in March

Real Estate , ,
Builder sentiment held steady in March as headwinds in housing markets affected homebuilder confidence, but National Association of Home Builders Chairman Greg Ugalde said that builders were looking forward to a "solid spring home-buying season." Builder sentiment mirrored February's index reading of 62; analysts expected an uptick to 63. Any Housing Market Index reading over 50 indicates that more builders than fewer have a positive outlook on housing market conditions. The average reading for 2018 was 67, which indicated that builders were less confident current market conditions for new homes than in 2018. HMI Component Readings Mixed in March Three…
Read More

3 Questions to Ask Before You Buy Your First Home

Real Estate , ,
Hunting for your new home can be a confusing process. There are countless factors you need to take into account to ensure your new location fits your family's lifestyle and preferences. In their excitement, first-time home buyers can easily overlook some essential points about their potential property. When you're searching for your new residence, ask these questions to get exactly what you're looking for. Am I Financially Ready For A New Home Purchase? It takes more than money to find the right home. Your credit rating is an important factor in your ability to secure enough funding to finance your…
Read More

What’s Ahead For Mortgage Rates This Week – March 18th, 2019

Financial Reports , ,
Last week’s economic reports included readings on retail sales, inflation and construction spending. New home sales Consumer sentiment readings were posted along with weekly readings on mortgage rates and first-time jobless claims. Retail Sales Increase after Lowest Reading in 10 Years Retail sales rose by 0.20 percent in January; analysts expected an increase of 0.10 percent based on December’s negative revised reading of -1.60 percent. Home centers and internet retailers led in overall sales; retail sales without the automotive sector were higher with an 0.90 percent increase in January, which exceeded expectations of an 0.40 percent increase. December had a…
Read More

5 Financial Terms Every Real Estate Investor Should Know

Real Estate , ,
The success of your real estate ventures depends on your ability to navigate the financial world. Learn these terms to make it easier to understand what's going on with your real estate investments. Cash Flow Contrary to popular belief, cash flow isn't just the amount of liquid assets you have available. Your cash and unused lines of credit are an essential indicator of your ability to complete projects and pay the cost of ongoing operations. However, these factors don't tell the whole financial story. Your actual cash flow is the difference between your gross income and your financial obligations. You…
Read More

What Makes Up A PITI Mortgage Payment?

Mortgage , ,
Many mortgage payments are made up of four parts, called PITI. PITI is an acronym that stands for principal, interest, tax, and insurance. It's important to understand PITI because it is the real number you need to use in order to find out how much mortgage you can afford to pay each month. One of the biggest mistakes first-time homebuyers make is using only the principal plus interest figure to calculate how much they'll be paying every month for their mortgage. Then, when the lender comes back and denies them, the prospective buyer is confused. Knowing and understanding PITI will…
Read More

6 Ways to Fight Foreclosure

Mortgage , ,
Sometimes, things don't go as planned. Despite the best intentions, there are times when it's impossible for homeowners to fulfill their mortgage obligations. When your misfortune turns into a foreclosure notice, these tips will help you control the situation and realize the best outcome. Work With Your Lender Open the lines of communication with your lender to stall the foreclosure process. Call your lender and explain your predicament. Give them specific details about the nature and estimated length of your circumstances. Many lenders are willing to temporarily modify payment terms to temporarily accommodate certain hardships. Apply for a loan modification.…
Read More

Is Now a Good Time to Cash Out Your Home Equity?

Mortgage , ,
For many Americans, their home is their primary investment. The equity stored in your residence can be a source of available cash for home repairs, upgrades, or for financing the purchase of investment properties. However, few homeowners really understand the process that results in home equity.  What Is Home Equity? Your monthly mortgage payment goes towards two different amounts. The first is the interest that you pay for the loan. The other is your principal payment or the amount that counts against the initial amount that you borrowed for the purchase. Depending on the details of your loan contract, each…
Read More

What’s Ahead For Mortgage Rates This Week – March 11h, 2019

Financial Reports , ,
Last week's economic news included readings on new home sales, construction spending, and housing starts. Data on building permits was released along with Labor Department reports on public and private-sector jobs and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released. Construction Spending Slows as New Home Sales Rise in December Commerce Department data for December indicated less construction spending than for November. Construction spending dipped by -o.60 percent as compared to analyst expectations of a negative reading of -0.30 percent. Construction spending grew by 0.90 percent in November. Lower cash outlays for…
Read More