After sitting at a record low for months, existing home inventory will likely get a boost thanks to many homeowners’ newfound comfort with selling. Seller attitudes are aligned with the general public, as 61% of Americans recently said it was a good time to sell a home. The shift in attitude may have been driven by the …
More Existing Homes May Hit the Market as Owners Prepare to Sell Read More »
The pandemic is revving up the higher end of the market and nudging more sales over the $500,000 mark from California to the New York City suburbs. In a historic turnabout that’s one of the biggest, most underreported stories of the COVID economy, higher priced homes—which almost always lag in a surging market—are racing neck-and-neck …
A surprising twist in the COVID housing market: The high-end is sizzling Read More »
Once you’ve decided you’re ready to proceed with your purchase and have met with your Loan Officer to review the process, YOU’RE READY TO GET STARTED! Here is an overview of some tips to consider: Get pre-approved There’s a big difference between a buyer being pre-qualified and a buyer who has a pre-approved mortgage. Getting …
When it comes to getting a lender’s approval to buy or refinance a home, there are 3 key numbers that affect your ability to qualify for a mortgage and how much it will cost you — your credit score, debt-to-income ratio, and loan-to-value ratio. Here’s a rundown of what they are and why they matter. Credit Score You’re …
Know How Your Numbers Work When Applying for a Mortgage Read More »
Last Tuesday, the Federal Housing Finance Agency (FHFA) announced that conforming loan limits will increase from $510,400 to $548,250 in 2021 marking the fifth straight year of loan limit increases. Most counties in California will now have high balance limits as well, these can be as high as $822,375. For context, a conforming loan is a type of mortgage that …
Conforming Loan Limits Will Increase Nearly 7.5% Read More »