Every time the Fed lowers rates, our phones ring! Everyone thinks that means mortgage rates are going down…when in fact, that is usually the opposite of what happens. And unfortunately, most loan officers do not even understand the relationship between the Fed funds rate and mortgage rates. What you need to know The Fed rate … Continue reading What Does the Fed Lowering Interest Rates Mean to Me?
With falling interest rates, we are getting a lot of calls from people looking to refinance…but they don’t always know why and if they should. Here are some reason why a refinance makes sense. You can get a better/lower interest rate. I hear from clients a lot, “what is the rule of thumb? If I … Continue reading Why Should I Refinance?
On Wednesday, The House of Representative passed the Housing Financial Literacy Act of 2019…also called HR 2162. The bill modifies the discount giving the by Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who completed a financial-management counseling program. Now, if you’re a real estate agent and you’re thinking “this feels … Continue reading Is there a change coming to FHA MI?
While buying your home is exciting and something to be proud of, it can be a confusing and complicated process that can leave you feeling intimidated. Which is why I host a monthly homebuyer seminar to help alleviate some of the anxiety that comes with purchasing your home by informing you about crucial aspects of … Continue reading The Top 5 Reasons Why You Should Attend My Homebuyer’s Seminar
When President Trump signed the new tax law into effect for the 2018 tax year, there were some changes that help borrowers qualify for a mortgage or a larger loan amount than they previously qualified for. One of the biggest changes that borrowers will notice in this year’s tax return is that the standard deduction … Continue reading More Borrowers Will Now Qualify for a Mortgage
When Team Rebecca is helping you get into your dream house or helping you refinance your current mortgage, we want the process to go as smoothly as possible for you. There are some things that you do NOT want to do when applying for a mortgage. For if you do, it could affect your ability … Continue reading When Getting a Mortgage DO NOT…
Not all lenders are the same when it comes to offering FHA loans. Look for a lender who has been granted Direct Endorsement authority by the Federal Housing Administration (FHA). This means the lender has the authority to underwrite and approve FHA loans in-house with its own staff of underwriters, as opposed to relying … Continue reading Top 3 Reasons to Work with a Direct Endorsement Lender
We get a lot of Veterans who are interested in buying a home, but don’t know if they are eligible for a VA loan or even how to read their Certificate of Eligibility (COE). How to read the Certificate of Eligibility There are 5 items that affect your eligibility, which are: Entitlement Code Funding Fee … Continue reading Make Sense of VA Certificate of Eligibility (COE)
If you’re looking to get a mortgage soon: be warned: it can be a confusing process. You will want to be informed, so let’s debunk 5 common mortgage myths. 1. Myth: There is no difference between getting pre-qualified and pre-approved Fact: While the two names seem similar, they are in fact different. A pre-qualification is … Continue reading Debunking 5 Common Mortgage Myths
Did you know the average housing rent in Cumberland County is $977/month*? And let’s face it, it’s only going to go up, because that is what rent does. The national average for annual rent increase is 3.6% per year. If you buy a house today and the payment is higher than what you prefer, it’s … Continue reading Will Buying a House Save Me Money?