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2009
You are browsing the archive for 2009.
Conforming Loan Limits Unchanged in 2010
The 2010 Conforming Loan Limits are staying the same for the 5th straight year… yawn. In Greater Boston, the limit is a bit higher at $523,750.
Foreclosures: Going, Going, Gone
Recovery is on the way! A small number of states in the USA took up mostly all of the foreclosures in our country and only one of them is getting worse. RealtyTrac.com has reported that more than half of all foreclosures are coming from California, Florida, Illinois and Michigan. Foreclosures are up a modest 19 [...]
Homebuyer Tax Credit Extended!
On Friday, October 30th President Obama signed off on extending the First-Time Homebuyer Tax Credit. Excellent news! Here are the important dates that need to be pointed out: new home must be under contract by April 30th 2010, and must fund by June 30th, 2010. This program was first rolled out in February of 2009 [...]
Types of Loans
It’s a good idea to gain a basic understanding of the kinds of home mortgages that are available. As you review the list, keep in mind that these categories widely overlap- for example, I provide adjustable-rate FHA loans and fixed-rate jumbo mortgages. As your advisor through the mortgage process, I can help you determine the [...]
Closing Costs
The cost of buying a home is more than just the purchase price. Each and every Homebuying transaction requires the service the services of a large number of professionals from a variety of fields. it’s common for these costs to add up to 2% to 3% of your total mortgage. When you chose to work [...]
Credit Ratings – How Important?
Your credit report is an important consideration to lenders reviewing your financial profile. if you have a history of paying your monthly obligations on time, thats a signal to a lender that you likely to make your monthly mortgage payments on time as well. So your credit can be a factor in the kind of [...]
Qualifying for a Mortgage
In general, all lenders use the same four basic standards to approve applicants for a mortgage. Different mortgage products have varying guidelines within those standards. The lender looks at what is referred to as the “the four C’s”: capacity, character, capital and collateral. Income (Capacity) Do you have steady and sufficient income to make the [...]
Buy or Rent? What’s Today’s Answer?
Decades after the phrase “the American dream” was first coined, home ownership is still a meaningful goal for a large number of individuals and families. Does that hold true in today’s market?
