Find out what’s on your credit. Take the time to explore your credit report before you fall in love with a house and make a loan application. There could be items on the report that are not accurate and may hinder your purchase power. Most of the time, the items can be easily fixed.
Lock on the payment, not the interest rate. Too many times buyers stress out over obtaining the lowest rate possible. There will always be someone out there offering a lower rate or lower cost. The best thing to do is to lock once the monthly payment is comfortable to you and your budget. By doing this, you take the stress off your plate about getting the “lowest rate out there.”
Find the best loan program for YOU….not your parents, your friends who previously bought a home…but for YOU. There are several programs that offer little to no down payment…find out what they are and take advantage of them.
According to Freddie Mac, interest rates aren’t likely to come back down to where they were in recent years. We all know that mortgage interest rates have been extrememly low for some time. Some experts predict that rates will be above 6% by the year’s end or into next year. This may come as a shock to some, but to others, it’s no big deal. Looking back at where rates have been, 6.5% is a really good rate. It’s all about perception. Click hereto read Freddie’s post on this…
There’s been a lot of talk about when rates will rise. We’ve actually already begun to see it over the last couple of months. The Fed has been pumping in money to buy up mortgage bonds to keep rates down to stimulate the housing recovery. As of last week, the Fed announced that they will taper off their buying of mortgage bonds which will result in a rate increase. We have to start paying back the trillions that we owe somehow…
According to the chief economist of Freddie Mac, mortgage rates will hit 5% sometime before the end of 2014. This could hurt the affordability of some buyer who are on the edge with qualifying for a monthly payment. It’s important to get them into a house before the rate increase happens any more.
If you are an agent, forward this to your buyers who are on the fence…it may be enough to push them off.
Today’s video is about what you can accomplish each day by Noon. For many in sales, prospecting is the most challenging aspect of our business…yet, it’s the most important. Without new prospecting, we won’t grow our sales businesses. Try to knock out your prospecting first thing and get all of it done by noon. Then, you have won the day!
This book has been my favorite read in 2012. If you are self-employed or are a manager, I highly, highly recommend it. Dave Ramsey lays out his playbook for his business success over the past 20+ years. From hiring to firing and how to build a strong culture, Dave covers it all. Please get this […]
If you are a buyer, seller, or someone looking to refinance your home, you need to get the pre-foreclosure list in your area. Go to www.zillow.com and register for free. You can filter the home searches and check out the pre-foreclosure list to see how homes around you are doing. This can tell you when […]
Too often, buyers change their financial picture or their credit profile before closing and make things difficult. Something simple like selling a previous home or buying a car with the same payment as the old can drastically change the outcome of a loan approval. It’s crucial to keep communicating with your lender to let them […]
This website is only a reflection of the author's opinions. The information on this website is for informational purposes only, and are not to be viewed as direct recommendations for mortgage financing.
Due to the nature of this website, typographical errors may come up. When this inevitably does happen, the author is not liable for any direct or indirect damages based on the errors made.
The information on this website should not be construed as offering legal, financial or other advice for the reader. Please keep in mind that the tax, investment, mortgage or financial services or strategies mentioned in and throughout this website may not be suitable for you individually.
Facts and market information are a moving target and should be reviewed with the market conditions as you read (much of this information on this website is archived from the past). We'd be glad to help you determine if things have changed.
Information provided on this site is perceived to be correct, but we recommend you seek proper legal advice.
Complaints regarding mortgage bankers should be sent to the Texas Dept. of Savings and Mortgage Lending,
2601 N. Lamar, Suite 201, Austin, TX 78705. A toll-free consumer hotline is available at 1-877-276-5550.