While the Federal Reserve declined to raise its benchmark rate in September, a future rate hike seems likely this December. The last rate hike was in December 2015, when the benchmark moved up by one-quarter of a percentage point. Most home buyers do not breathlessly...
It takes about six weeks to close on a home in most areas of the country. Much of the reason is beyond a home buyer’s control; complex regulations, appraisal backlogs, and last-minute snags. Yet the most common reason for closing delays rests squarely on the home...
In a prior blog post, we talked about what home buyers should know about interest rates, and how rates impact home buying power. Home buyers should also know how their credit score affects the mortgage interest rate they’ll be offered! You cannot control the market...
In a prior blog post, entitled “What Home Buyers Need to Know About Appraisals,” we explained how appraisals work, and how they can sink a home sale when the appraisal value does not agree with the sale price. Yet appraisals can delay a home sale for another reason as...
With home inventory slim in many areas of the country, home buyers face plenty of competition! A mortgage pre-approval can make the difference between getting your purchase offer accepted, or having the seller choose another offer by a better-prepared buyer. A...
Could your debts hold you back from buying a home? It’s possible, because mortgage underwriting includes calculating your DTI, which stands for debt-to-income ratio. The more debt you have outstanding, the less money you have available for a mortgage payment. Cutting...
Data breaches and credit card fraud are a growing problem for Americans, according to the Federal Trade Commission. During 2016, complaints of database breaches and fraudulent credit card purchases soared by 32%. Credit card fraud and related scams amount...