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bc@smarterborrowing.com
617.771.5021
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Buying a Home
How to Raise your FICO credit score
The credit scores of millions more Americans are sinking to new lows. According to FICO, nearly 43.4 million people now have a credit score of 599 or below. And that makes them poor risks for lenders. It’s unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use. Here are some ways you can improve your score.
Time to Refinance? Jumbo Mortgage Rates Plunge
Nearly two years after the credit crunch virtually froze mortgage markets, high-end borrowers are seeing some relief: Rates for “jumbo” mortgages on pricier homes are at their lowest since 2003.
Just a year ago, the average rate on a 30-year jumbo mortgage—a loan of more than $729,750 not backed by government-sponsored agencies Fannie Mae or Freddie Mac—was 6.86%, according to Greg McBride, a senior financial analyst at Bankrate.com. Now it is 5.48%—a rate that rivals those available during the height of the credit bonanza.
Yes Massachusetts you have favorable Real Estate Market Conditions
Massachusetts real estate is presently seeing some of the best market condiitons ever because of all-time low Mortgage Rates and current market and economic conditions.
A Tough Time for Self-Employed Borrowers
MOST borrowers are facing a much tougher mortgage environment than a few years ago, but for those who are self-employed or own small businesses, maneuvering through a loan application can be even more arduous. Before 2008 these borrowers, many of whom have difficulty documenting their income, often used what are known as stated-income loans. Lenders focused on credit histories and earnings estimates, circumventing the need for pay stubs or W-2s.
Sales in Boston Massachusetts Luxury Condo Market up 50%
Boston’s luxury condominium market, hard hit by the economic downturn over the last two years, is making a dramatic comeback that some say signals renewed faith in high-end real estate.
FHA Loans Just Got More Expensive
Please submit your FHA Mortgage Application by today, Friday April 2nd, 2010. Starting on Monday your insurance premium is on the rise! So yes, FHA loans are gettimg much more expensive. The upfront premium is going from 1.75% to 2.25% of the total loan amount, and this is a big number.
Mortgage Rates go from 2010 Low to High in 4 Hours
Mortgage Rates had been sitting around near all-time lows for a few months, but not any more. Mortgage Rates rose on Wednesday the 24th more than they have all year in 2010. Inquire within for current mortgage rates.
Who Wins Battle Of Boston’s Best New Luxury Condo Buildings?
Boston Magazine very recently in its “Connoisseur Article”, write an excellent article comparing 3 of Boston’s best newly constructed luxury condo buildings, W Residences, 45 Province and The Clarendon. I couldn’t agree more with the outcome… great job Rachel Levitt
10 Rookie Home Buyer Mistakes to Avoid (U.S. News & World Report)
U.S. News & World Report – It was supposed to be a momentous occasion for Brian, who was about to close on his first home. But after signing a thick stack of documents–and taking part in the ceremonious passing of the keys–something felt off for the then 26-year-old Montgomery County, Md., resident. There wasn’t even a chilled bottle of bubbly or a housewarming gift to punctuate this pivotal moment. “My Realtor told me that I can take him out for a steak,” recalls Brian, who prefers that only his first name be used to guard his privacy. …
Hey potential Massachusetts Home buyers… Tax Credit ending Soon!
The Boston Globes Article on Saturday, February 13th talking about the current Real Estate market. Now is the time to buy… if you are serious. Mortgage Interest Rates are at all-time lows, there is not much inventory, and the current tax credit is up the beginning of the summer.
