The mortgage refinance market is swinging as lenders are dropping rates and homeowners are eager to get on the dance floor. Just as borrowers didn’t think the low mortgage rate party could get much better, United Wholesale Mortgage announced 2.5 percent interest rates for 30-year fixed purchase mortgages and refinances.
A new federal law put in place two protections for homeowners with federally or Government Sponsored Enterprise (GSE)-backed mortgages. Learn more about these options and if they’re right for your situation.
HOUSING, MORTGAGES & EVICTIONS
The two Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, and the U.S. Department of Housing and Urban Development (HUD) announced unprecedented steps to help borrowers impacted by COVID-19 remain in their homes.
When you get your W-2 in the mail each year, it might fill you with a bit of dread. It’s time to call your accountant, wait in line some Tuesday night in March, and pay out a hefty chunk of your refund just to get someone to type your income and taxes paid into some computer software program. It all seems like a waste of time and money, with a thankless reward of handing over a check to the government at the end of it all.
You’ve probably dreamed of the day when you finally send in your last mortgage check and own your home free and clear.
Paying a little extra every month on your home loan is a way to make that dream a reality faster than you thought, and with today’s historically low savings rates, it could make more sense than ever.
Q. We have friends who took classes before they bought their first house and said that the experience made all the difference for them. We’d like to buy a home, too, but feel overwhelmed by the process. Where can we get more information on home-buying classes?
Whether you’re looking at photos on a real-estate website or touring an open house live and in person, here are some bright red flags and some more subtle problems to look for.
May 31, 2018
WASHINGTON – June begins National Homeownership Month, a time of year when the U.S. Department of Housing and Urban Development (HUD) and others mark the importance of owning a home and the impact it has on the lives of American families, local neighborhoods and to the nation’s economic health. This year’s theme is National Homeownership Month 2018: Find Your Place.
Given the large upfront costs associated with purchasing a home, most young people begin renting an apartment which is the first step in independency. As they build careers, save money, and start families, many choose to buy a home and take that next step to building wealth. Homeownership establishes a stable environment for families; especially children and creates community involvement that reduces crime, blithe, and depreciation. Debt Management Credit Counseling (“DMCC”) offers homebuyer education workshops and one on one counseling for future home buyers.
It’s tough being a first-time buyer in today’s housing market.
Home prices are hitting record highs in many parts of the country, often selling for more than the asking price, and going from list to contract in a record 37 days, according to Redfin.
“We’ve never seen a faster or more competitive market,” says Redfin spokeswoman Rachel Musiker. “Basically this market isn’t for the faint of heart.”
Don’t make it even harder (or more expensive) for yourself by making these common mistakes: