Why Are Home Prices Rising So High? Blame Record-Low Mortgage Rates

From: Realtor.com When the coronavirus pandemic gutted the strongest U.S. economy, many assumed another recession would bring rock-bottom home prices along with it. Instead, home prices defied logical assumptions—and soared to new heights. Paradoxically enough, one of the biggest drivers of the double-digit price hikes is the very same record-low mortgage interest rates that put […]

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Mortgage Pre-Qualification vs. Pre-Approval: What’s the Difference

 AlexRaths/iStock; bortonia/iStock   From Realtor.com When buying a home, cash is king, but most folks don’t have hundreds of thousands of dollars lying in the bank. Of course, that’s why obtaining a mortgage is such a crucial part of the process. And securing mortgage pre-qualification and pre-approval are important steps, assuring lenders that you’ll be able to […]

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The Rehabbers’ Guide to 203(K) Loans

Article from ClientDirect Lenders’ weak stomach for extending credit doesn’t have to sour your upgrade dreams. The old but new again FHA 203(k) loan rolls remodeling and mortgage costs together, whether you’re buying or refinancing an existing home loan to pay for upgrades. First, some 203(k) basics: 15- or 30-year term option ARM or fixed-rate […]

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Married to Your Mortgage?

        Every homeowner has mortgage payments on the brain. Whether it’s a 15- or 30-year term, standard, fully amortizing mortgages are designed so that homeowners pay off the balance over the life of the loan. This means that homeowners with a 15-year term will make 180 payments – double that to 360 […]

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The Mortgage Challenge

Consider me your resource for all things real estate!  Selling, buying, upsizing, downsizing, relocating, investing, vendor referrals, shoulder to cry on during renovations and more.  Just send me an email or call me at 619-888-2117.  

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