In some areas, you have a homeowner on either side of you that’s in a situation of “negative equity.” According to economists, it’s not going to get any better for a while….How long will it be before the housing market bottoms out is up for interpretation. Let’s say it’s right around the corner, [...]
Post from: ShortSaleSellit.com
Many househunters, particularly first-time home buyers, may not know exactly what they are getting themselves into financially when it comes to buying their first home. You must remember, there’s a lot more to consider than just the listing price. It is important to speak to a mortgage professional to receive a pre-approval to verify what you [...]
If you’ve recently applied for credit to finance a real estate purchase, and were declined, you might be wondering why a lender would deny you credit. Most lenders have a checklist of qualifications necessary to get approval for a home loan, and some don’t have anything to do with what your credit score is. Here are the basic reasons a lender may deny a mortgage loan:
When you and the seller have negotiated on the price, the terms and condition of the sale, there is still work to be done. The services of an independent home inspector will be needed to evaluate every section of the home. As soon as the inspection report is completed, it will be used by the buyer and lenders to make sure that the property is in good condition. After the home inspection, you can still re-negotiate the offer. If you do it the proper way, re-negotiation can serve to your advantage.
The last chance to refinance below 5% is fast approaching. Loans with a sub-5% interest rate are still available from lenders, but will be heading above 5% soon. The first week of January saw the average 30-year, fixed-rate loan closing at 5.