Monday Mortgage Recap

by | Feb 3, 2014 | Mortgage Information

      The average interest rate for mortgages decreased slightly last week. The Federal Reserve met for the first time last week and again reduced it’s purchases of bonds. The stock market continued it’s decline as some of the most recent economic headlines were a bit weaker than expected. The good news is that inflation is minimal so the Fed can keep rates low for the foreseeable future. See current information at the Wall Street Journal Market Data...

NAR 2013 Existing Home Sales Report

by | Feb 1, 2014 | Real Estate

      The National Association of Realtors recently came out with the 2013 existing home sales report and the statistics are promising. Total sales are up 9.1% in 2013 compared to 2012 and the 5.09 million sales of existing homes were the most since 2006. Even better news for sellers is that prices were up 11.5% from last year. This is the largest price increase since 2005. The real estate market is definitely getting healthier and this trend should continue throughout...

10 Tips For a Hassle-Free Mortgage Experience

by | Jan 31, 2014 | Mortgage Information

      Below are 10 Tips to Remember When Shopping for a Mortgage: 1. Compare all loan products with your loan officer to determine the right one for you. 2. Save as much as you can towards your down payment and closing costs. 3. Once you get pre-approved do not apply for any new credit. 4. Make sure your credit is in good standing before applying for a loan. 5. Higher credit scores usually mean a lower rate. 6. Do not close credit cards while in the loan process. 7. Know what you can afford. 8. Do not make large deposits into your bank account that are out of the ordinary. 9. Make sure to disclose all monthly payments on your application. 10. Submit as much documentation to your loan officer at the time of pre-approval.    ...