D&V Home Mortgage Loan Product Update
97% Primary – 620 (First Time Homebuyer) 97% Primary – 620 (My Community Mortgage) 95% Primary – 620 Score 90% Second Homes – 620 Score 85% Investment – 720 Score 50% DTI max all programs High LTV Condos to Same LTV’s as above! Limited Review Condos (70%LTV SH, 75% LTV Pri Res) Investment Cash-Out to 75% Up to 10 Financed Properties Delayed Financing Exception Conforming Flips Call or email today with conventional, VA, FHA, or Jumbo...Homeownership Rate At 20-Year Low
The homeownership rate in America hit a 20-year low, dropping to 64% in the fourth quarter of 2014. This was 1.2 percentage points (+/-0.4) lower than the fourth quarter 2013 rate (65.2%) and 0.4 percentage points (+/-0.4) lower than the rate last quarter (64.4%). The rental vacancy rate of 7% was 1.2 percentage points (+/-0.4) lower than the rate in the fourth quarter 2013 and 0.4 percentage points (+/-0.3) lower than the rate last quarter. The homeowner vacancy rate of 1.9% was 0.2 percentage points (+/-0.2) lower than the rate in the fourth quarter 2013 and 0.1 percentage point higher (+/-0.1)* than the rate last quarter. The homeownership rate of 64% was 1.2 percentage points (+/-0.4) lower than the fourth quarter 2013 rate (65.2%) and 0.4 percentage points (+/-0.4) lower than the rate last quarter (64.4%). Paul Diggle, property economist for Capital Economics said that the decade-long decline in the share of the population who own their home may now be drawing to an end. “Yet the long decline in the homeownership rate may finally be drawing to a close,” he says. “After all, mortgage delinquency and foreclosure rates have fallen back to long-run norms, credit conditions are showing signs of loosening and wage growth may soon accelerate, helping young households to make the leap into homeownership. Source:...Good News for Suburban Real Estate
Millennials deep down may be suburbanites after all. In recent years, economists and demographers have argued that members of Generation Y will have a longer love for city living in smaller living quarter than their predecessors. But a newly released survey by the National Association of Home Builders discounts that, suggesting that what millennials really want is a single-family home outside of the urban center – just like other generations. The survey of more than 1,500 people (born since 1977) found that 66 percent of millennials want to live in the suburbs; 24 percent want to live in rural areas; and only 10 percent prefer to live in a city center. “While you are more likely to attract this generation than other generations to buy a condo or a house downtown, that is a relative term,” says Rose Quint, NAHB’s assistant vice president of survey research. “The majority of them will still want to buy the house out there in the suburbs.” One of their main draws to suburbia? They “want to live in more space than they have now,” Quint says. Eighty-one percent said they want three or more bedrooms in their home. “The preference for the suburbs suggests that future demand will be in the form of single-family homes rather than condominiums more prevalent in cities,” David Berson, chief economist with Nationwide Insurance Co., told The Wall Street Journal. “That’s also good news for future suburban single-family sellers, many of whom are baby boomers.” Source: The Wall Street...My Community Mortgage
(MCM) – My Community Mortgage – FNMA Product D&V Home Mortgage has announced the release of an amazing product to help homebuyers get into homes at incredible rates including reduced MI! Say good bye to FHA if your borrower meets the income requirements! Check this out! Score’s down to 620 DTI – 50% LTV’s are 95% on a Fixed and 90% on adjustable Your borrower or borrowers combined income must be below the median income for the area per FNMA to qualify….Link below to look them up. https://www.fanniemae.com/s/components/amilookup/61d695d4-b7a7-4fe1-90c2-7dff2fd1ccd4?state List of relevant median incomes for counties targeted with this email Pinellas, Hillsborough, Pasco – $57,400 Sarasota – $57,300 Collier – $62,900 Lee – $58,000 Pricing HUGE...New Jumbo Program Available
D&V Home Mortgage now offers non-QM Jumbo Loans DTI up to 49% Loan amounts up to $1.5 million 740 + FICO Score Primary and Secondary Homes 30 Year Fixed Up to 75%...Connect With Us
